Business idea

[Rip Van Winkle]

I would think if there was a way to make this work, someone would have figured it out already.

The problem is, 90% of your customers could be conscientious, it's the 10% who don't give a rip who are going to put out of business.

I can see someone renting a precision rifle, shooting 1000 rounds rapid fire and burring out a barrel or some bubba shooting the wrong ammunition through a gun. Worse yet would be someone renting a gun and committing a crime or a suicide in the parking lot.

I don't think you couldn't charge enough to cover your liability.

[ForeverTwoWheels]

I guess I was hoping there'd be a way to mitigate it. What's stopping someone from renting a Lamborghini, getting tossed, and driving it through a crowd of puppies and children?

It's entirely possible that the lambo is easier to insure than a gun rental that leaves your place of business.

I was actually joking with Chuck Rogers about this very thing last week. I'd love to lease a Roger's Precision 1911 on round count like the hour meter used in heavy equipment rentals (only billed on hours used, not time in possession). At even a buck a shot, that $6K gun would be attainable as long as I didn't shoot it too much. Alas, that's not how people make money in the rental business.

Lets look at your proposed numbers for a minute:

$60/2 weeks, and then $30 back upon return. That'd be fine for a $500 glock, as your annual rental income would be $780 (assuming 100% rental - which isn't likely), but lets get something more desirable and look again. Take a $2300 Dan Wesson for instance, you're still only pulling $780 a year (100% rental might be more possible with a more desirable gun), but you've now got a 3 year break even on that acquisition, before even beginning to approach a profit.

While you also have a pretty solid equity base in your inventory (guns don't depreciate terribly over time), it's hard to justify the assets needed to be tied into the business for what's likely very slim margins. Your best case scenario doesn't look good, reality is going to be painful.

I just threw out a number but even if the margin is slim if it gets people in the door that's all that matters. Gas stations make diddly on fuel, they count on you buying the marked up soda inside.

[ForeverTwoWheels]

Besides the hurdles do you guys think its a worthy pursuit? Think anyone would use it for what I'm picturing? You don't buy a car without a test drive, why not test carrying a pistol or hunting with a rifle?

The little I've thought this through, I don't see renting-to-sell expensive guns working: If I rent a used, ($3000 new) pistol, and like it, I'll go buy a new one, unless there is a really steep discount. Will people rent(lease) less expensive guns? I don't know. There might be a practical side to it for a customer- trying a new carry gun... but that brings up the need for likely several holsters for each gun...

Re hunting rifles. The performance of the gun/ ballistics will be a known, and the fit/ shooter compatibility could be determined in a gun shop.

It wouldn't be rent to own. It would be try this one, get in store credit towards a new model if you like it.

[ForeverTwoWheels]

Consult an attorney for an iron-clad (or as close as you can get) liability waiver, then keep him/her on retainer. Find an insurance company that'll work with your business model. Charge enough $$ to cover your costs/morons/liabilitypolicy. Form 4473 and NICS checks for every "checkout".

#3 - Profit!

Have to wonder if those costs would make the business model prohibitive. However I do think it's a good idea.

Along the same lines though I think providing a service where you just meet someone at a range with the guns they want to try out would get some good business too. When shopping for a shotgun for my fiance the hardest part was her hesitation to pick something because she couldn't shoot it before we bought it. And then on the other hand you have people who just want to try shooting something different. For some they might fall in love with what they try and buy one. Others might just want to put a few rounds through a really expensive gun for the experience.

But still as others have indicated, I think the profit margins would be far too slim. Especially when you factor in your costs to clean and maintain those guns, not just materials but the man hours.

That's a very good idea. And like the "be kind please rewind" labels many of us read years ago I'd have the stipulation that the firearm be checked out and returned clean or there'd be a surcharge of some sort.

[ForeverTwoWheels]

For carry guns, assuming I rented an already used one, I'm not sure I'd want to trust my life to a gun that a bunch of people already used... And returned for some odd reason.

I'd rather try it out at the store then buy new.

That was my original idea. Not sure if it was clear enough. Try THIS one out, buy a NEW one if you liked it.

[ForeverTwoWheels]

I would think if there was a way to make this work, someone would have figured it out already.

The problem is, 90% of your customers could be conscientious, it's the 10% who don't give a rip who are going to put out of business.

I can see someone renting a precision rifle, shooting 1000 rounds rapid fire and burring out a barrel or some bubba shooting the wrong ammunition through a gun. Worse yet would be someone renting a gun and committing a crime or a suicide in the parking lot.

I don't think you couldn't charge enough to cover your liability.

There'd be a damage deposit and inspection upon return just like other high ticket items. People would absolutely have an incentive to return it in like condition. An authorized hold on a credit card for example.

That's a very real concern but I feel like that could be tackled.

[ForeverTwoWheels]

You could certainly market it as a try-before-you-buy plan but in reality I think what you are doing is promising you will repurchase the gun back from the individual at a guaranteed price or percent of the original selling price after X days and it is still in an agreed upon condition. A really good return policy, in essence. And that's probably what it will be since to transfer the gun you have to background check the buyer, log it out in your bound book, and so on. If your hook is the renter can walk away with just $100 out of pocket for a weekend with an Aug or .50 BMG, then you just need a credit card on file to charge if the gun isn't returned in good condition, lost, etc.

Bitter Bastard

Exactly. I just wonder if its viable because I think it would be a very significant feature for competition. Most stores laugh at you if you talk about returns and I wonder what the reasons, besides the obvious, are.

[JJ]

I would think if there was a way to make this work, someone would have figured it out already.

The problem is, 90% of your customers could be conscientious, it's the 10% who don't give a rip who are going to put out of business.

I can see someone renting a precision rifle, shooting 1000 rounds rapid fire and burring out a barrel or some bubba shooting the wrong ammunition through a gun. Worse yet would be someone renting a gun and committing a crime or a suicide in the parking lot.

How about you get a couple 220 swifts, and 22-250's, i would be happy to rent them for a couple days, go P-dogging, scorch the snot out of the barrels And a two minute cleaning, and you would have no idea I torched your bbl's. Now you have to dump a couple hundo to rebarrel, or sell it for nothing.

The reason gun ranges rent, is they can monitor the wear and tear on their investment.

[Thunder71]

Legal issues aside...

There are companies that do this with photography. The rent high end camera bodies and lenses, some of these lenses are $5,000-$10,000 and more. Not something most people own, but if you need one you can rent it.

But that's a rocks and apples comparison for legal purposes.

[LarryFlew]

Don't even think about having that client do the cleaning. You will get a bucket full of parts back on most rentals due to the many differences in dis-assembling.

[mrp]

Want to try that fancy sig out for 2 weeks before buying it? We got it.

You have to shoot it somewhere, and for most folks that will be at a range. I don't know how you'd be able to compete.
http://billsgs.com/rangerentals.html

Perhaps a better business would be partnering with some of the larger private ranges (and maybe BPR) to operate rental kiosks on site. The first thing I'd do is try to figure out the insurance so you don't waste too much time on a business plan that can't go anywhere.

Want to bring a fancy tacticool rifle on your hunting trip with your buddies? Right here. I think the demand would certainly be there in the marketplace.

I'm not sure that "on your hunting trip" is a good time or place to be learning how to shoot a new (to you) rifle.

[Ironbear]

Don't even think about having that client do the cleaning. You will get a bucket full of parts back on most rentals due to the many differences in dis-assembling.

Maybe there is a business plan here! Drop-off gun cleaning... just like the dry cleaners.

[JJ]

Don't even think about having that client do the cleaning. You will get a bucket full of parts back on most rentals due to the many differences in dis-assembling.

Maybe there is a business plan here! Drop-off gun cleaning... just like the dry cleaners.

Most gunsmiths do this already. It's just no one wants to pay someone else for an hour of time + materials.

[Seismic Sam]

You're asking for legal advice on a forum that could you wind you up in even deeper water than the questions we get in here about what to do when you got a rap sheet and your P2Cgets denied?? Dude!! Seriously!!! You need serious legal advice on a number of fronts, which is gonna cost you a bunch of money, and even then you STILL have to work out a realistic business model that will net you some money at the end of the day. And past the legal issues, you will be in direct competition with Bill's, who rents out a HUGE selection of guns for an afternoon. Yeah, maybe we get a few people in here that say they bought a gun and now hate it, but are those numbers BIG enough to make a living with Bill's weeding out 75% of your prospects with daily rentals to begin with??

My gut says you'll never even generate enough money to cover your legal costs, much less show a profit.

Oh, and have you considered that WHEN another Sandy Hook happens, the ammo supply is going to zero and your business will go down the toilet for 6 months to a year??

You want to start cheap, work out the business model first and figure out what you would have to make to break even, and you WILL need to factor in how much of your business is getting pre-empted by Bill's.

Oh, and I got within a hair's breadth of leaving 3M and forming up my own startup for a product which now sells $600MM a year JUST in the US, and had the clinical feasibility done and the marketing numbers, so I'm not just guessing about this stuff.

[grimbeaver]

Wow Sam that seems a little harsh. He knows he needs legal advice which is going to cost him money. You saying you never consult with others on ideas that will cost you money before shelling out money? Why not ask around before paying the lawyers and save yourself the money if someone else gives you a good reason it won't work that you didn't think of.