I will throw my 2 cents worth in on this. I agree with other posters about not wanting this type business in your home, but that is all a matter of opinion. The biggest issue I see is if you offer transfer services, you will have people you don't really know coming to your house quite often. They then in turn know exactly where you live, you obviously have guns, and you could end up being a target for thieves or worse if the wrong individual comes along.
With that in mind, whether you decide to do this in home or at an external location, you will want to ensure you have a nice gun safe or other secure storage for all inventory and personal firearms. You also want to ensure that any location of business is as secure as it can be, and some type of alarm or security system is always a plus. Even if you have an offsite location, you can still keep inventory locked up at home if you so choose.
If you do plan on trying this from your home and submit your FFL application paperwork, the ATF agent who comes to interview you will have done his/her homework on any appropriate zoning laws/homeowners association restrictions, etc. If you face any of these hurdles and can't resolve them, they will deny or allow you to withdraw your application. If there is anything like this in place, they will not allow you to get your license.
If you look to doing business elsewhere, try to look for a small office space for lease. There are usually lots of deals on these type spaces for very affordable rent/leasing fees. They can serve several purposes...allowing you to actually advertise as having a legitiment store front (some distributors will not deal with you unless you have a storefront), having a place for patrons to come other than your home, and allow you to have an affordable start in the business without a hefty lease/rent of a larger storefront area that can put you behind the 8 ball before you even get started.
I hope some of my rambling will help you no matter what you decide...good luck!
Last edited by bamaee04; March 28, 2012 at 11:59 PM.