Hey everyone, my wife and I have really gotten serious about opening a store. In my area there're only 3 store within 40 minutes or so with one of them being Hague's which I shouldn't even count.

 

With that said I have most of my business plan done, and have found a good location. It's just going to be me running the running the store with my wife helping out a few hours a week. I know the profit margins are low on new guns, so I will work on having a good selection of used and consignment guns as well as accessories.

 

What I am trying to finish up on the plan are what my start-up and 3-year cost will be I have a basic idea but would like some opinions of some of the people hear. Also I what people like to see when they go into their LGS, not only selection wise but appearance of the store.

 

I am thinking that I will need about 60-80,000 just for initial inventory, so I am figuring start up costs would be 175k to 225k. Am I close?

 

Any info you guys could give me would be really helpful...I am hopeful to have the store opened by fall.

 

Thanks everyone!

let me know when you need part time help?

 

You the same NY on NJBO? Just noticed your motorcycle avatar.

Yup that would be me! Funny how small of a world it is.

Hey everyone, my wife and I have really gotten serious about opening a store. In my area there're only 3 store within 40 minutes or so with one of them being Hague's which I shouldn't even count.

 

With that said I have most of my business plan done, and have found a good location. It's just going to be me running the running the store with my wife helping out a few hours a week. I know the profit margins are low on new guns, so I will work on having a good selection of used and consignment guns as well as accessories.

 

What I am trying to finish up on the plan are what my start-up and 3-year cost will be I have a basic idea but would like some opinions of some of the people hear. Also I what people like to see when they go into their LGS, not only selection wise but appearance of the store.

 

I am thinking that I will need about 60-80,000 just for initial inventory, so I am figuring start up costs would be 175k to 225k. Am I close?

 

Any info you guys could give me would be really helpful...I am hopeful to have the store opened by fall.

 

Thanks everyone!

 

Do you know that the town you want to open a shop in is the sort that will not throw up obstacles in your path because of liberal suburban sensitivities? I have read about how the owner of Shore Shot built a state of the art range in a town and they eventually prevented him from opening, wasting a lot of money, time, sweat, etc.

Do you know that the town you want to open a shop in is the sort that will not throw up obstacles in your path because of liberal suburban sensitivities? I have read about how the owner of Shore Shot built a state of the art range in a town and they eventually prevented him from opening, wasting a lot of money, time, sweat, etc.

 

 

not to mention this was after the town approved it, all permits met, it was built, and about to open... we spend a average of 15,000 a week on guns alone... to give you a lil bit of the picture and selling firearms would not keep us afloat

Right now I am planing on opening in Mullica Hill, I have already talked to the Zoning Office and there is a space for lease in area that is properly zoned.

 

The town is pretty conservative, it's a mostly republican base. And the Police are not anti-gun so I don't for see any issues there. But you never know.

not to mention this was after the town approved it, all permits met, it was built, and about to open... we spend a average of 15,000 a week on guns alone... to give you a lil bit of the picture and selling firearms would not keep us afloat

 

If you don't mind me asking what keeps you going then?

I wish you lots of luck if you do go through with these plans. You should not be prohibited anymore than the fabric shop down the street as long as you follow the legal path.

Until you have the approval, nothing is set.

 

the state police and ATF will not even talk to you until you have the local approval.

 

Do a search, there have been at least a few in the past month on folks wanting to open a gun store. =)

If you don't mind me asking what keeps you going then?

 

My guess would be Rentals, and the Range...

I looked into this about two years ago and had a place in Cherry Hill and one in Haddonfield picked out. First off you your town selection is good, but beware the Harrison Twp officials. They are known to talk out of one side of their mouths one day, the other side the next day. I have had business dealings with them many times in the past 5 years. Make friends with them, get in with them through events, volunteering or flat out bromancing them.

 

Now, you also have competition closer then you think. You have Hagues, he has great frontage and signage. You have Bob's in Glassboror, only a 10 minute drive and he has a range. You have Ed's in Deptford, about 15 minutes. You also have Butch's in Vineland, 20 min+ south of you. Butch and Bob will be your biggest comp. You are going to have to figure a way to separate or differentiate yourself.

 

It sounds like your not going to open a range, so that is removes your biggest initial cost but also your biggest money maker, by far. My research proved out a range can make you a couple grand a day easily on rentals alone if you have 8+ lanes. Then ammo and accessory rentals and sales, add another 1k. Even see how expensive ammo is at a shop with a range, usually a dollar or two more, pure profit from the trigger happy.

 

Moving on, you have to target your niche, black rifles? Hunting? Handguns? Budget buys? Accessories?

 

Here was my plan and take it for what I paid for it, nothing. I was going to open a shop that was mainly high end handguns and shotguns. I was going to cater to the wealthier sportsmen in the area. I was going to fill the place with shooting books, accessories and memorabilia for sale. Even some fishing gear. Think tiny Orvis store. There was going to some chairs and table for sitting and shooting the breeze, tv with vids playing of shooting adventures and a rustic look. What this would allow me to do was to get a premium price for things, carry high end products that would attract moneyed clientele and dreamers (such as myself) and often times get some great trade in and estate guns. My initial overhead and inventory was $110-120K estimate.

 

Personally, I think you could do this in Mullica Hill. You have a moneyed demographic, you have the quaint town look and feel that will get men shoppers in while their women go antiquing. Plus, with the still rural outlying areas you might get in some great trades or estate guns from some of those old farmers. I know a few down there that have some VERY impressive collections.

 

Why did I not follow through.... I got a great job. I figured I might make $80K from the store if I had a decent year. It would have been fun, challenging and I would have been my own boss. But the legal aspects and costs loomed high in my head... it was a big unknown. I could not get a handle on that expense. Then I got offered a job with the federal gov that is very challenging and very rewarding. I had to make a decision and security won out in my instance, I have kids and a too large mortgage.

 

I say go for it 100%. I considered Mullica Hill for my store also but I had a better feel for Cherry Hill. If you need some help, let me know. I will even do some work for store credit to help out a new store.

Right now I am planing on opening in Mullica Hill, I have already talked to the Zoning Office and there is a space for lease in area that is properly zoned.

 

The town is pretty conservative, it's a mostly republican base. And the Police are not anti-gun so I don't for see any issues there. But you never know.

I'm just up the road in hoodbury

Put me in for a pink card when you're ready

Hey axeman, I appreciate the insight, I looked into the idea of opening a range too but I think that it would be prohibitively expensive. I keep reading about $500k+ for 8 lanes(but if I am wrong let me know). So unfortunately that may be a bit too much money, plus as you said there are two other indoor ranges not too far away.

 

But your idea for store is pretty much right in line with what I was thinking. Cater towards to more affluent but still be accessible to the more average "Joe". I was thinking about going for the antique/rustic feel for the store, not your typical gun store.

 

I was getting a bit discouraged the last few days while I was researching, but after hearing your thoughts I know I can do this and make it work.

 

I appreciate it, and I may just take you up on your offer!

 

Thanks again,

 

Rob

My initial overhead and inventory was $110-120K estimate.

 

So, you were planning to have what, 6 shotguns in stock for high-end guys? Seriously, I think that overhead and inventory estimate is 5-10x low.

 

The main (almost only) reason well-conceived retail businesses go out of business is undercapitalization.

Highest voted new slogan for NJ a few years ago:

 

"New Jersey

Are you sure you want to do this?"

 

There's a "hoodbury" in NJ? That sounds a little frightening.

 

Good luck with the shop. Take care of your customers.

Melga... there is high end and then there is royalty. My initial outlay covered 16-20 shotguns in the high end at 80K. Fill in the remainder with

filler.

 

Handguns were another 20k for 12-15 $1000 guns and then fillers.

 

I was not trying to be Griffin and Howe. This is South Jersey. Plus I cant do a WASP accent.

My guess would be Rentals, and the Range...

 

Membership fees, range ammo sales especially non member

 

I'm not complaining about prices just saying as a source of income.

I wouldn't get too crazy with high end guns. You need to turn product over quickly, which you will have a tough time doing with high end guns, you will have a lot of capital tied up in product. Walmart tries to turn their entire store over every 30 days, you will never be able to do this since you won't have the traffic they get, but you get the idea, moving product is how you make money in retail.

 

You will need to be well stocked for people to take you seriously, and this is a learning curve as to what people are looking for. Make sure you are open when you say you will be, people will not come back if they made a trip to your store and you're closed when you said you would be open. You also better have patience in dealing with the public, you will be asked questions constantly by people who don't know anything about what your selling or get angry because your price is not 75% below cost, you will still need to treat these people with respect since bad PR travels much farther and faster than good PR.

There's a "hoodbury" in NJ? That sounds a little frightening.

It's the county seat, typical of south jersey's county seats in general

And I expect it may be a target rich environment before it's all over

Regarding opening a gun store in Cherry Hill:

 

In my opinion, Bobs (glassboro,NJ) is not really a lot of competition, unless you are planning on opening a store near him in glassboro. I have a friend who uses them w/o any issues. I wouldn't go there due to a negative experience. I felt that NJ permits were so valuable that I refused to let them give me a hard time. they do have a firing range.

 

You have Cheyenne mountain outfitters up in bordentown (robbinsville). Take 295 North to Bordentown exit, Merge onto US-130 N via EXIT 57 toward US-206 N/BORDENTOWN,procede to 691 Rt 130, Robbinsville,NJ. They bought out Harrys. They were nice when they were Harrys, but now they have new owners. Service depends on whom you get. Sometimes nice, sometimes not. They seem to get foot traffic. small/medium size selection.

 

Butches is nice but they are quite a distance down Rt41. He is in Vineland at 1025 W landis Ave. Merge onto I-295 S.,Merge onto RT-42 S via the exit on the LEFT toward ATLANTIC CITY,Merge onto RT-55 S via EXIT 13 toward GLASSBORO/VINELAND,Merge onto RT-56 E/CR-622/LANDIS AVE via EXIT 32A toward VINELAND. store on right in converted small bank. small selection. Very friendly.

 

I've visited Lock's in Phila. If you take the tacony into PA, you turn right at Frankfurt Ave, go down 3-5 blocks, they are on the left far corner at 6700 Rowland ave. They appear to have a very large gun selection. Many more guns than Butches and Cheyenne put together. Everywhere you look you will see guns. 3 large display racks. I haven't had that much experience with them, but they seem to be ok in regard to customer service.

 

There is a newly opened small gunshop in merchantville that I have to go and see. It is off of cuthbert blvd & church rd. Rayco Armory, 177 South Center Street.

 

There is probably a cost/benefit analysis regarding opening a new gun store. I'd look into the cost of location versus car traffic and parking. How about down in collingswood or on rt 130? Rents/leases could be less due to low occupancy rates. Keep the overhead costs as low as possible.

Dont forget Sportmens Center in Bordentown on 130... been there for ages, and is a cornerstone of firearms stores in NJ in the Mercer county area.

Hi Mike,

 

Axeman was looking into opening in Cherry Hill but he ended up not. I will be opening a store in Mullica Hill.

Mike4...

In regards to my plans for the store in Cherry Hill, I did look into Collingswood but the demographic there is not very gun/hunter friendly, the shoppers were plentiful but the location was much to close to Camden for my liking.

 

I still think about this a good bit at times, and may one day do it. I hope NY gets it done...