MergerPlace

Gun Shop

Florida (Leon)


  • Asking Price: $995,000
  • Gross Income: $1,100,547
  • Cash Flow: $114,438
  • Real Estate: Not Disclosed
  • Inventory: $225,000
  • FF&E: $29,400
  • Listing ID: #226618
  • Established: 2012
  • Employees: 2 FT /2 PT

Business Description

This Tallahassee gun shop is North Florida’s premier gun shop with a reputation of exemplary customer service and is known for an eclectic inventory ranging from collectible to tactical. They offer firearms and accessories for every buyer including rifle, shotguns, the latest concealed carry and self-defense handguns, AR-15 build parts, receivers, kits, holsters, optics and more. In addition to the latest in firearms, they also offer classic sporting arms, hunting and field guns, scarce commemorative, collectible military, and vintage arms, as well as Class III / NFA items.

This gun shop had the highest number of gun transactions in Leon County per ATF/FDLE records for 2018. As of September 2020, a total of 14,500 guns have passed through the store since it opened in 2014. This is a turnkey business with established relationships with multiple major distributors including: RSR, Lipsey’s, Davidson’s, Banger’s, Orion Wholesale, Zanders, Sports South, AmChar and Stag Arms.


Business Details

Primary Business Category: Retailers - Miscellaneous
Location: Florida
County: Leon

Company Information

Year Established: 2012
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 2 FT /2 PT

Financial Information

Asking Price: $995,000
Gross Revenue: $1,100,547
Cash Flow: $114,438
FF&E: $29,400
Inventory: $225,000
Seller Financing Available: No

Property Information

Facilities:

The store occupies 2000 sq. ft. of efficient space consisting of retail, storage, office, shipping, gun-smithing, an employee break table and one restroom. Front showroom features track lighting, cherry wood displays and coordinating slat board that creates a comfortable and inviting atmosphere distinctive to firearms stores. Warehouse space includes a custom work bench and designated photography and shipping stations. The building includes ample parking in both front and rear. The store is secured with a state-of-the-art security system as well as locking gates and bars. This popular gun shop is located in a highly desirable northeast part of Tallahassee surrounded by established and affluent shops and restaurants. Lease is under market value and is renewable for 9 years.

Growth & expansion opportunities:

While gross sales for 2020 exceeded $1 million, there are several key strategic factors and additional cost effective measures that can be undertaken to substantially increase annual sales. 1) New owners would benefit from offering firearms instruction (i.e. concealed carry courses, AR build classes). With a market currently flooded with novice gun buyers there is increasing demand for such courses. Likewise, the interest in assembling ARs is growing and providing classes would create an additional profit center from this trend. 2) Less than 400 yards from the front door there is a major re-developed upscale shopping center currently in progress. It will soon include a hotel and luxury movie theater in addition to retail and dining. Once completed this trendy/upscale area will become Tallahassee’s central shopping district. There is huge potential for this development to not only attract more customers from nearby affluent neighborhoods and increase pedestrian traffic but also to become a regional destination shopping location. 3) Capitalize on existing large collection buying. In addition to new customers, several lifetime collectors regularly liquidate and/ or consign extensive collections of modern and antique firearms. Continuing to foster these existing relationships while also creating an advertising campaign to attract more collections will yield unique inventory with high margins. 4) It is known that a local Glock Blue Label dealer is set to retire and close/liquidate their shop within a year. Glock Blue Label is limited to geographic areas and with this store closing there would be a great opportunity to sign up for this coveted program offering manufacturer discounts to Law Enforcement Officers (LEO), military and first responders. 5) Stag Arms has recently solicited this store to become their flagship gun store for this area of the Panhandle. This is a rare opportunity to expand AR availability in a high demand market.

Competition:

There are very few firearms stores in this market area. One small family owned store is currently in the process of downsizing in preparation of closing their doors to retire. There is one locally owned large sporting goods store in Tallahassee, but they have a broad focus that includes a heavy emphasis on kayaks, fishing equipment, hunting boots & jackets and other specially clothing as well as home décor. While there are two big box stores in town, they also do not in any way focus on the sale of firearms and accessories and instead stock mostly sporting equipment, clothing and accessories. All this makes this well located gun shop the only true "guns, firearms and ammunition store in Leon county! This Gun Shop has a dynamic sales model which makes it unique in the industry. The store maintains a mutually beneficial relationship with a local gun range, large auction company and firearms custom shop. Retail sales are not limited to the brick and mortar store and gross sales are supplemented by online sales as well as auctions. With recent 2021 industry shortages, this gun shop benefits greatly from long established relationships with sales representatives for allocated and high demand items. The ability to stockpile ammunition and hard to find items gives this Tallahassee Gun Shop a very strong competitive advantage.

Reason for selling:

Seller pursuing real estate venture out of town.

Support & Training:

Willing to train for 4 weeks @ $0 cost. All-inclusive gun store that maintains growing inventory of new and used firearms, firearms accessories, holsters, magazines, tools, cleaning supplies, AR components, build kits, range bags, ear and eye protection, sights, optics, and ammunition. Store buys, sells, trades, and consigns firearms. This Tallahassee Gun Shop also offers gun cleaning and repair, appraisals, transfer services and shipping.

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Business Listed By:

John Kraft

Murphy Business Brokers