FFL INFO

[MFH]

I just received my FFL application.. The requirements don't look too bad. Any advice out there on whether or not to even apply? The officer I spoke with said getting a license was not a big problem....What's the rest of the story???
Other than record keeping, how much of a hassle is it?

MFH

 

[Gunslinger]

At the time I had mine there was very little or no "hassle". However that was a long time ago and times have changed and continue to do so. If you plan to actually operate a business by all means go for it. If, however, you plan to obtain the license for personal convenience, which is in direct violation, I would not recommend it. My crystal ball tells me that we will soon see ATF checking so called "bedroom dealers" FFL holders to see if they are in fact making a "profit" and operating a business.

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Gunslinger

TFL End of Summer Meet, August 12th & 13th, 2000

 

[Lavan]

Also, insurance agents cringe more at the words "gun dealer" than actually being shot. We have a pawn shop and if we add an FFL even just to pawn a gun and sell to FFL's .....ONLY.......our "slip and fall" liability insurance is CANCELLED. There are a few carriers, but very expensive.
An associate is currently $70,000 into a defense of a lawsuit that the plaintiff CANNOT win. A guy pawned a gun, redeemed it, shot HIMSELF, and now the wife has found a lawyer to take the case that she "phoned" the pawn shop and told them not to let him have it. Once you are sued, you begin paying a lawyer. Even if you are right. I decided I don't need that. We pawn cars and jewelry and tools. And I no no longer take some tools because there is liability in that too. It is real easy to lose a lifetime of work in one easy lawsuit. Incorporation is not the answer anymore either.