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1911rocks · April 27, 2010, 09:00 AM

Bear in mind my frame of reference starts in 1977. I was trained as an Apprentice with a local Gunsmith who was trained in Austria. I swept floors, dumped chip tubs, ran errands...for free. I had a full time job as an Instrument-Controls technician with a Power Generation Utility. I was working for this Gunsmith on Weekends and evenings. The I&C position was an IBEW OJT position. It paid my bills. I never had any intention of Gunsmithing as a primary source of income. The IBEW position paid very well, about $70,000/yr in today's equivalent dollars. I started gunsmithing as an "armorer" for a local law enforcement organization. Initially, I made less than minimum wage as a 'smith. The one department, lead to another, to another, and so on. The one Sheriff had a thing for Commander sized 1911s and in 1980 you could not just go out and buy a Kimber, SA, Ed Brown, etc. So, I built him a Combat Commander. He showed the other local Police Chiefs and Sheriffs and that helped. I acquired 3 local gun stores repair work. I was also shooting IPSC every single chance, to promote my work. All the while working 40hr/ week in a Power Plant. After ~5yrs The Gunsmithing business was yielding ~80% of my full time gig. The Gunsmithing business had ZERO benefits. I was working about 30hr/week as a Gunsmith. I had a few rules:
1) I always had a Contract with the business'/LEOs.
2) The private Customer always signed a work order and paid for all parts up front.
3) The work order stipulated that the customer would pay in full prior to picking up the gun. He had 14 calendar days to do so after being notified in writing that the work was complete.
4) The first major cash outlay I made was not a Mill, a Lathe, a Shaper, or a Surface Grinder, it was a retainer for an Attorney.
5) Secondly, Egan, the old Gunsmith told me Finance nothing for the business, cash only.

I sold the business in 1986. I had also become a Class 3 Dealer ( a spin off of the LEAA days. In 1986 my retail component of the Class 3 was "done in" by the Feds. I sold the Mill, Lathe, Shaper, Surface Grinder, Indexing Fixture, and TIG welder and most importantly, contracts. My net after all the years afforded my kid's college education and paid off my home. Would I do it again? In a gun friendly time and place, like now. However, my experience shows that when we have a Democrat run Gov. Gun sales/spending are brisk, Get an all Republican, not so much. (Carter vs. Reagan).
Just my experience.

April 27, 2010, 09:00 AM	#10
1911rocks Senior Member Join Date: September 9, 2006 Posts: 424	Gunsmithing Income Bear in mind my frame of reference starts in 1977. I was trained as an Apprentice with a local Gunsmith who was trained in Austria. I swept floors, dumped chip tubs, ran errands...for free. I had a full time job as an Instrument-Controls technician with a Power Generation Utility. I was working for this Gunsmith on Weekends and evenings. The I&C position was an IBEW OJT position. It paid my bills. I never had any intention of Gunsmithing as a primary source of income. The IBEW position paid very well, about $70,000/yr in today's equivalent dollars. I started gunsmithing as an "armorer" for a local law enforcement organization. Initially, I made less than minimum wage as a 'smith. The one department, lead to another, to another, and so on. The one Sheriff had a thing for Commander sized 1911s and in 1980 you could not just go out and buy a Kimber, SA, Ed Brown, etc. So, I built him a Combat Commander. He showed the other local Police Chiefs and Sheriffs and that helped. I acquired 3 local gun stores repair work. I was also shooting IPSC every single chance, to promote my work. All the while working 40hr/ week in a Power Plant. After ~5yrs The Gunsmithing business was yielding ~80% of my full time gig. The Gunsmithing business had ZERO benefits. I was working about 30hr/week as a Gunsmith. I had a few rules: 1) I always had a Contract with the business'/LEOs. 2) The private Customer always signed a work order and paid for all parts up front. 3) The work order stipulated that the customer would pay in full prior to picking up the gun. He had 14 calendar days to do so after being notified in writing that the work was complete. 4) The first major cash outlay I made was not a Mill, a Lathe, a Shaper, or a Surface Grinder, it was a retainer for an Attorney. 5) Secondly, Egan, the old Gunsmith told me Finance nothing for the business, cash only. I sold the business in 1986. I had also become a Class 3 Dealer ( a spin off of the LEAA days. In 1986 my retail component of the Class 3 was "done in" by the Feds. I sold the Mill, Lathe, Shaper, Surface Grinder, Indexing Fixture, and TIG welder and most importantly, contracts. My net after all the years afforded my kid's college education and paid off my home. Would I do it again? In a gun friendly time and place, like now. However, my experience shows that when we have a Democrat run Gov. Gun sales/spending are brisk, Get an all Republican, not so much. (Carter vs. Reagan). Just my experience.