The Essential First Steps to Starting a Gunsmithing Business

If you’re looking into starting your own gunsmithing business, this is probably one of at least a dozen articles you’ve scrolled through in hopes of finding a simple, no-nonsense guide to getting your dreams off the ground.

As I’m sure you’ve gathered by now, there’s no one-size-fits-all path for starting a business, but there definitely is a recommended short-list of paths to consider if you haven’t owned and operated a business before. So, if you hear yourself saying “just tell me where I can go and what I can do,” you’ve come to the right place. Or, rather, you’re on your way to the right place. 

The Endless Joys of Paperwork and Bureaucracy

If you’ve already decided on a name for business and you’ve conducted a thorough search to ensure you’re not the only one who thought it was awesome, you’re likely ready to start filing papers. You’ve got options when it comes to what kind of company you start, and before you make your final choice, please consider starting an LLC or a sole proprietorship. The differences between the two are enough for an entire article (and there’s a few out there!), but the short version boils down to expenses. LLCs have more upfront costs and recurring annual fees than a sole proprietorship, and they require an additional registration if you plan to operate across state lines.    

So why would anyone want to have an LLC? The short answer is they can offer business owners certain financial protections. In the event of a lawsuit or a debt collection, your personal assets are protected from the long arm of the law. Bear in mind that’s a very simplified explanation, and I do recommend checking out the Wolters Kluwer article on LLCs and sole proprietorships, as well as Peter Lamont’s article on LLCs and liability. 

Do your due diligence and read as much as you can before you stop by your state-level secretary of state’s office or website to file papers. You can find the link to your state’s secretary of state’s office here. And after you’ve successfully filed, head over to this link for some basic information on registering a tax ID number.  

Supply Costs

Business cards and website fees may not be the most intimidating expenses to tackle, but tools are another story altogether. So, how many tools do you really need? As I’m sure you’ve heard before, the usual answer is “at least one more.” There are online resources that will recommend thousands of dollars’ worth of tools to anyone starting out, but not everyone has thousands of dollars at their disposal. And, needless to say, great tools do not make a great gunsmith.  

MGS’s Advanced Gunsmithing course requires a list of supplies that costs less than $200.00. It might not end up being everything you need to start a business, but depending on your goals, it might be enough to get you started. 

While it may be ideal to have a tool for any job that may arise, I’m sure you probably realize that’s it’s just not feasible, financially speaking, to go so far into debt for jobs that may, or may not, materialize in the near future. Instead, consider specializing in one or two services when you first enter the fray of entrepreneurship.  

It’s best to consider a Plan B and even a Plan C for your supply chain. But before you start going into debt, consider starting off with a single service and building from there. What’s your strength? Is it floating barrels? Optics? Coatings? Whatever the case may be, start with your strength and move forward from there.

Chances are, other gunsmiths have hung their shingles near you and have their own set of specialties. Knowing what their specialties are might help you fill a market niche. Do they do engravings? If not, ask if they’d be willing to refer their engraving customers to you, and you can refer customers who need other services. And don’t discount the power of mutual back scratching.   

The Looming Shadow of Big Box Stores

Rome wasn’t built in a day, and neither is a business. Competition is steep, and while you may want to compete with gunsmithing services at big box stores, that may not be the best approach when you’re getting your proverbial feet wet. Big box stores are a step ahead of you. By virtue of having a retail location in a commercially zoned area, they’ve garnered some de facto buyer confidence that you’ll have to build. Be rest assured, your customers are not necessarily always the same as theirs. The term ‘small business’ is synonymous with ‘personal touch’ to a lot of people, and that’s what you bring to the table.  

Make appearances at shooting competitions and shows and introduce yourself to everyone you can. Seeing is believing, and some people are far more likely to invest in someone they’ve met in person than not. If you happen to have read my article, How to Boost Your Business as a Gunsmith, you’ve probably already considered hosting cleaning clinics and offering appraisal services. While both require your expertise, neither requires an excessive number of tools. And, most importantly, it’s a great way to get some much-needed face time with potential customers.  

The Right Stuff

If you’ve asked yourself if you have what it takes to be a gunsmith, consider this: you’re doing research on starting a business while others out there are scrolling through pictures of cats and articles about celebrity gossip. You’re dedicated enough to do your homework, and not everyone has your level of dedication.  

And speaking of homework, if you don’t mind a little more, I have to recommend Hank Yacek’s Gear Up for Profits: Incorporating Gunsmithing into Your Shop and David Johnson’s 4 Tips for Fulltime Gunsmithing Work. 

Thanks for reading! 

Written by: Lanna Perkins, Education Writer