Guns and firearms accessories continue to sell well across the country. It’s no wonder that you want to cash in on this lucrative trend. But before you do, it’s vital that you do your homework to understand the intricacies of this lucrative yet complex ecommerce business.

Step 1: Know the rules.

Firearms may be popular and profitable, but they can also be dangerous when they are in the wrong hands. For this reason, federal and state governments have put laws into place that regulate how and to whom weapons and their accessories are sold. Before you do anything else, learn about the rules that you will need to follow in your area. Doing so will protect both you and your customers from potential legal difficulties.

Step 2: Register your business.

A name is more than just words; it is the expression of your brand identity and vision. Take some time to carefully consider what you want to call your business. Then register the business with your state, and purchase the domain where you will place your website.

Step 3: Determine your business structure.

There are a number of structures from which to choose as you plan what your firearms business will look like. The most popular are LLC, S-corporation, and C-corporation. Each has unique legal and tax considerations pertaining to it, so it is important to carefully research all your options before coming to a decision.

Step 4: Create a business plan.

Think of your business plan as the road map that will guide your progress toward long-term success. This is where you will determine your sales and marketing structures as well as financial planning and budgeting. It is the document that you will show to lenders and investors; therefore, it needs to be crafted with care.

The following questions should be addressed in your firearms business plan.

• Will you be manufacturing or reselling firearms?
• Who will your gun suppliers be?
• What will your shipping practices be, including how you will get products to consumers and the estimated speed?
• How will customers purchase the firearms: online, in-store, at trade shows, etc.?

Your business plan is the outward expression of your company that will evolve as you grow. Never underestimate its importance.

Step 5: Obtain licenses.

The vast majority of businesses need to have a federal license to sell firearms. Moreover, any business selling guns across state lines needs an FFL transfer. Contact local and state authorities to learn about the specific procedures for obtaining the licenses you will need.

Step 6: Sign up with a merchant account provider.

If you are going to accept funds from your firearms customers, you will need to establish a relationship with a high-risk merchant account provider. Don’t panic when you see the words “high risk.” This is simply the category into which many companies are placed when lenders believe they pose a higher-than-normal likelihood of defaulting on their payments or encountering fraud. Because gun sales are highly regulated, more prone to chargebacks and contain age restrictions, conventional banks believe that working with them will be risky and time-consuming.

Consequently, you need to find a provider with specific expertise in the firearms sector who has relationships with numerous financial institutions. This will help to ensure that your customers’ payments go through your online payment gateway quickly, securely and legally every time.

Step 7: Open your retail store.

This can be online, in a physical location, or both. If you opt only for an ecommerce option, your overhead costs will be dramatically reduced. That being said, buyers will not have the chance to physically touch or see what they are about to buy.

Tips for selling firearms effectively.

Even if you only offer your products to customers online, there are steps you can take to maximize your chances of success. They include the following.

• Get to know your potential customers. Perform a target market analysis to learn vital facts about your future buyers. Once you learn whether they are novices, hunters, collectors, ex-military, law enforcement, etc., you will be in a position to target your marketing campaigns to meet their unique needs. Furthermore, you can segment different populations into separate sub-groups, providing each with different promotions and incentives based on their profiles.
• Enhance your security precautions. Although you can never guarantee that your business will be immune from hackers and other cyber threats, implementing modern, robust security procedures such as adding an SSL or TSL certificate will go a long way toward ensuring that all online traffic is encrypted and masked from e-criminals.
• Market intelligently and aggressively. Social media pages furnish you with the ability to demonstrate products, inform visitors about laws and regulations and highlight store promotions. The more you interact with your customers and keep content fresh, the more engaged potential buyers will be. People who feel connected to your brand are far more likely to buy from you and to refer their contacts.

Ecommerce firearms sales is one of the best ways to provide eager customers with the guns and ammunition they are demanding. Set up your store with forethought, research, planning, and customer analytics, and you too can benefit from the profits.