In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
Ready to get out of the gun business
KAMsales
Member Posts: 1,672 ✭✭✭✭✭
Going to trim the business down to where its just automated parts sales, get rid of the dirty phone, and take a big step away from the gun industry for sanity's sake.
Will likely be putting a LOT of stuff up for sale here on GB shortly as soon as I figure out a game plan.
Will likely be putting a LOT of stuff up for sale here on GB shortly as soon as I figure out a game plan.
Comments
Money makes putting up with stupidity worthwhile. [:D]
My biggest gripe or worry is government. To be involved in business these days between compliance laws, tax accounting, paperwork I find out I must do merely to satisfy some bureaucrat, worrying I might spill something and be sued by OSHA because I missed cleaning up a drop, recertification, inspections, permits, EIN, failed to dot an i or cross a t. Need I mention the taxes.
Business shouldn't be that way.
I Wish you all the Best
Get Rid of this In Order
Wife
A Hole buyers
Keep the Gun Binus
Treat them Right Work On Volume
not per sale Cut Back to Just New Sales [^] Life Goes on there is Life After Divorce.... Believe Me[^]
Woody
Good luck with your decision![:)]
I called it quits ten years ago this year and closed the shop. I didn't look back and have never regretted it. Find yourself some interesting segment of the gun business (just steer clear of M1s[;)]) and stick with it. You'll be amazed at how pleasant business can be once you specialize.
I agree with you Mark. After 20 years I shut the full time doors. My biggest problem was I could sell new guns at 10% over wholesale but no one wanted to pay the 9% tax. So with tax included I'd have a profit of 1%. Why do people think they don't have to pay sales tax on guns? I've heard this for 20 years that they want me to somehow cheat on the taxes but they don't blink an eye when they ring up a gun or ammo at Walmart.
quote:Originally posted by mark christian
I called it quits ten years ago this year and closed the shop. I didn't look back and have never regretted it. Find yourself some interesting segment of the gun business (just steer clear of M1s[;)]) and stick with it. You'll be amazed at how pleasant business can be once you specialize.
I agree with you Mark. After 20 years I shut the full time doors. My biggest problem was I could sell new guns at 10% over wholesale but no one wanted to pay the 9% tax. So with tax included I'd have a profit of 1%. Why do people think they don't have to pay sales tax on guns? I've heard this for 20 years that they want me to somehow cheat on the taxes but they don't blink an eye when they ring up a gun or ammo at Walmart.
Not to hijack the thread, but very few people actually understand who pays the sales tax. The way sales tax regulations are written, it is the retailer who actually pays the tax every time a sale is made. The retailer simply collects a dollar amount equal to the sales tax at point of sale from the buyer to make up for that payment. This is the reason that so called resale permits exist so that retailers moving product between other retailers don't pay tax each time a transfer of goods is made. The end consumer doesn't have to pay sales taxes at all, they just need to find a retailer willing to pay the sales taxes himself, and those businesses are few and far between. People who come in and say, "Just skip the tax and I'll buy it", don't understand that it is not actually possible to "skip" the tax. The retailer has to pay the tax no matter what, andd if he does not collect the tax from the buyer, the retailer is still liable and must pay the tax himself.
I called it quits ten years ago this year and closed the shop. I didn't look back and have never regretted it. Find yourself some interesting segment of the gun business (just steer clear of M1s[;)]) and stick with it. You'll be amazed at how pleasant business can be once you specialize.
Yup, want to focus more on engineering/parts and less on retail/smithing. I am not a "people person" so having to deal with people often drives me nuts. Working on a handgun design for an outside company at the moment and that is what I am really happy doing. I have to deal with less people, and they respect my abilities and time more than retail customers do. Might be the thing to focus on