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Old January 17, 2009, 10:14 PM   #6
James K
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Join Date: March 17, 1999
Posts: 24,383
This has been covered a zillion times on this site and on The High Road site. I suggest a search.

To summarize, first, you will never become rich gunsmithing. A few pioneers in specialty fields have done well, but the average gunsmith would do much better financially as a plumber.

You need not only an FFL but also any business licenses the city, county or state requires. You need insurance. You need some knowledge of business practices, and either know or know someone who knows bookkeeping. If you employ anyone you need to comply with OSHA rules, tax witholding, etc. You need to comply with all zoning regulations. If you want to be just a gunsmith, don't get into retail sales and minimize dealing directly with the customer. Getting business through local gun shops is better, and you don't waste time in pointless gabfests with people who have no idea what they want done.

I strongly advise against working out of your house for many reasons.

Mainly, you need capital. I have suggested that a full time smith would need a startup fund of at least $250,000 to cover a building, machinery, tools, licenses, and living money until he gets started. As a part timer, you wouldn't need the living money, but you would need the rest. I suggest you obtain a Brownell's catalog and just look at the prices of such mundane stuff as chambering reamers and headspace gauges. You will know where the above figure comes from.

There are books on gunsmithing, and video courses, but there is no substitute for a good trade school. Knowing machining is good, but working on guns requires some specialized knowledge that a general machinist doesn't have.

Jim
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