How To Make Money With Owning A Gun

Is firearms your hobby? When people are turning their hobbies into businesses, you might be wondering what kind of business to do with your hobby. Making money using your gun may sound like a dirty combo but it is the same with other businesses. There is no difference between you and individuals who like cars, toys or any other collections. The only difference between firearms business and the others is that you have to follow local, federal and state laws.

Here are some legal ways you can use your firearms hobby to make money.

Teaching

Many people want to learn how to safely use guns and other firearms. It is also a requirement that one takes a safety course for firearms to be issued given a concealed carry permit. If you’re a military member, you’re required to submit your M9 Card to the local county Sheriff’s office. You will also be asked to prove that you’re a legitimate military member.

If you aren’t a member of the military, should be a qualified National Rifle Association’s instructor. One of the important requirements to become an NRA instructor is knowing how to shoot and how to teach other people how to shoot. An NRA certified instructor certifies your skills and your name is then put in the firearms instructor list. Once your name has been legitimized you now qualify legally to teach hunters safety, state-approved concealed carry and other firearm classes.

Buying, renting and selling of guns

Renting or selling your gun isn’t the same as in cars, you must follow the laws and file proper paperworks. You need a Federal Firearms License to purchase, rent or sell a gun. To apply for the FFL you must send a completed application to ATF accompanied with a proper application fee. You can also sell your gun on gun consignment. Becoming an FFL holder comes with many burdens including being liable for other people’s misuse of guns. Alternatively, you can sell your gun privately. As a private gun seller, you’re regulated by the state laws. You need to take precautions not to sell your gun to a felon or a prohibited person. A background check of the buyer must be done. In many states, you must work with FFL, gun store or law enforcement as the third party to sell your gun.

In a consignment sale, you remain the owner of the gun until it has been sold to a third party. The best thing with a consignment sale is that it is fast, since the consignment store has access to many people interested in purchasing a gun than you do. The consignment store sells the gun on your behalf. When your gun has been sold by the store you relinquish ownership and receive payments. You’re then required to pay a consignment fee that ranges from 15% to 25% of the selling price.

A consignment fee should be reasonable. Lower consignment fee can mean that the store won’t work hard to sell your gun making it stay for long before getting a buyer while a higher consignment fee doesn’t always mean your gun will be sold faster, it can also mean the store wants to get more money from you.

Anyone can venture into firearms business. All you need is to be informed of what the laws require else you’ll land in the hands of law enforcement teams for selling firearms illegally.

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