There are three primary classes of Federal Firearms Licenses, The Class 3 FFL License being the most prominent and three variants of those. It is important that you apply for the right one for your particular needs. The primary licenses are as follows:
Class 1 – This is for the importers of National Firearms Act guns, explosives, and other destructive devices. This would not be what the average person would need for their small business.
Class 2 – This is for the manufacturers and dealers from the factory standpoint. Companies who make weapons for the masses would need this, not the person who is buying for resale.
Class 3 – This license is for the person who buys and sales weapons including full automatics, silencers, and other destructive devices. This is the class that your local gun shop owner carries. If you acquire a Class 3 license, you do not have to have a storefront to buy and sell, and you save the $200 tax stamp you have to pay for every gun purchase you make.
Owning a gun dealer’s license is fairly inexpensive, and there are no requirements of how much, if any, product you must buy to keep the license active. When you apply for the Class 3 FFL License, you should know how you plan to use it.
If you are planning to open a gun shop, you will need to have procured or leased the space prior to the visit by the Bureau of Alcohol, Firearms, Tobacco, and Explosives. If you choose to get your license to use from your home, it is simpler, but you will need to have your home ready for the ATF visit, too.
What are the advantages of possessing a Class 3 FFL License? The most important are:
- The savings from the direct purchase of guns and paraphernalia – You only pay 70% of the cost you would pay if you bought from a gun shop. If you expect to buy guns on an ongoing basis, you should save enough on purchases to cover the licensing fee.
- Buying gun dealer samples or even making them for a fraction of the cost of the retail product – Building your own saves you a great deal over what you would pay for manufactured guns like automatics and machine guns. If you choose to resell what you make, you have an opportunity to make serious money doing so.
- You can purchase accessories for weapons – Some people make a good side income from selling silencers and gun stands among other products.
Should I Apply?
Everyone who applies does not necessarily get a Class 3 FFL License, and much of the reason they don’t is because they make critical mistakes in the application. If you attempt to get yours without any guidance, it can be a confusing and daunting task. We recommend you seek the advice of a Class 3 FFL License Guide and get your FFL License easily and effectively.