Well, my wife thinks it's time for me to put away the tools and close the books. I have a hand full of guns and related materials left in the shop and can't decide whether to keep them or try selling them off. Would it be best to try selling one item at a time, or finding another dealer to buy the lot and get it over with? Anyone out there that's closed shop before knows the problems. What sounds the best way to go? Suggestions appreciated.
Closing the door
- Thread starter Double J
- Start date
Smokey Joe
New member
closing up shop
Double J--Always sad to hear of a gun shop closing, but peoples' circumstances change, and life goes on, and you adjust.
Have no experience with running a gun shop myself, but FWIW here are my thoughts:
If you sell the works to a buyer who will continue the shop, then the shop will continue, and shooters in your area will be glad.
If you sell the works to a buyer who will just haul it all away, then that's the end of the shop.
In either case, you won't get much for any one piece of equipment or stock, but you WILL be rid of the whole thing, no hassle. Easiest way to go.
A shop in my area came to an end, and the owner hired an auctioneer to sell off the stock and the furnishings. Every shooter for miles around came, lots of 'em went home with a bargain (including me!
) the seller got rid of everything, and I think ended up with more $$, even after the auctioneer's fee and other expenses, than he would have had just selling the whole thing to a buyer. Plus, everybody there was kind of celebrating the owner's having been in business, talked to him, wished him well, etc, etc. The paperwork for the BATFE, transferring the guns to buyers, was handled just like it usually is; they had a 'phone for instant checks, and it was no more hassle than usual. One of the auctioneer's people handled that.
So, an auction might be the nicest, as well as a profitable, way to end yr shop. When my parents-in-law quit dairying and moved from their farm, they auctioned their cows and equipment, and made out like bandits.
The auction company does most of the work setting up the auction, advertising, etc. There is work to be done by the seller, organizing the stuff to be sold and working with the auctioneer's people.
Anyhow, it's something to consider.
And may I wish you well in your future endeavors.
Double J--Always sad to hear of a gun shop closing, but peoples' circumstances change, and life goes on, and you adjust.
Have no experience with running a gun shop myself, but FWIW here are my thoughts:
If you sell the works to a buyer who will continue the shop, then the shop will continue, and shooters in your area will be glad.
If you sell the works to a buyer who will just haul it all away, then that's the end of the shop.
In either case, you won't get much for any one piece of equipment or stock, but you WILL be rid of the whole thing, no hassle. Easiest way to go.
A shop in my area came to an end, and the owner hired an auctioneer to sell off the stock and the furnishings. Every shooter for miles around came, lots of 'em went home with a bargain (including me!
) the seller got rid of everything, and I think ended up with more $$, even after the auctioneer's fee and other expenses, than he would have had just selling the whole thing to a buyer. Plus, everybody there was kind of celebrating the owner's having been in business, talked to him, wished him well, etc, etc. The paperwork for the BATFE, transferring the guns to buyers, was handled just like it usually is; they had a 'phone for instant checks, and it was no more hassle than usual. One of the auctioneer's people handled that.So, an auction might be the nicest, as well as a profitable, way to end yr shop. When my parents-in-law quit dairying and moved from their farm, they auctioned their cows and equipment, and made out like bandits.
The auction company does most of the work setting up the auction, advertising, etc. There is work to be done by the seller, organizing the stuff to be sold and working with the auctioneer's people.
Anyhow, it's something to consider.
And may I wish you well in your future endeavors.
I would strongly suggest an auction. I closed shop back in 1991. I had an auctioneer friend handle everything- I didn't have to do a thing except watch. I came out so good I almost bought more equipment to do it again. Some items are an almost give away. Some stuff will go for more than retail when you get several folks wanting one item in particular. The male ego overcomes common sense and they get in a bidding war. Something to consider.
Trapper
Trapper