Entrepreneurship Idea Napkin #2

1. I'm a third year student at the University of Florida who grew up overseas my whole life. As a result, I've formulated a world view that is pretty unique. I've seen third-world practices, learned a great deal about international trends, and have picked up a few tricks of the trade along the way. Those skills have stuck with me all throughout my college career, landing me different jobs and opportunities. As a gun advocate, I've also learned the ins and outs of gun construction and assembly. As a result, I am interested and have been researching a business into a niche of the gun industry that might be open for the taking. If I started this business, I would be very heavily invested and it would most likely take up most of my time.

1. I'm offering a storefront that focuses on gun aficionado's desire for customization. We buy the quality parts, assemble it, and then make unique changes to the firearm that makes it aesthetically pleasing and highly practical. In turn, customer's will be willing to pay more for this product than your run of the mill cheap AR 15's that literally melt under heavy gunfire.

1. I'm offering it to anybody who is interested in branching out to purchase a firearm that can not only provide personal protection, but could be used for hunting purposes as well or simply collecting. In my previous post, I highlighted an avatar in which I described a suitable customer that would be drawn to my specific product line. As defined in that post about "country Mike", all of my customer's would most likely be men in their early 30's-mid-60's looking to expand their firearm collection, stock up on guns for personal safety for their family, or simply for the love of guns.

1. My customer's would care because we would offer brand-new, higher-quality firearms that could in turn be tested out on a gun range at my store. In doing so, customer's would be able to properly assess if the firearm suits their needs. The test-run would be completely free and would enable them to further their interest in the item. On top of that, I would also offer a number of accessories and add-ons to the gun that would pique their interest into purchasing additional hardware.

2. My competencies include a wide knowledge of firearms, the regulations involved, and the safety practices that must be implemented to provide a safe environment in such a store. I understand the process of an FFL background check, the fees involved, and the bureaucratic red-tape that goes hand-in-hand with running a firearm business. On top of this, I am well-versed in proper gun assembly which ensures the ultimate satisfaction from our customers. This would be demonstrated in the gun range tests.

Conclusion

All of the above points fit together like a puzzle. I fully understand that there are facets of my business plan that are lacking, but am confident that those weaker area could be remedies with more thought and research application.

One of the things that I gleaned from feedback on the Idea Napkin #1 was that there are numerous regulations that govern the firearm industry and if more regulations were to be implemented, it could mean a strict curtailing of any firearm sale activity. However, I believe that our current gun-control laws will stay in action and do not see a considerable change in the next few years. I am glad that point was brought up because I had never seen that aspect in the same light. I was able to thoroughly assess the threat and come up with alternative rational reasoning to realize that it is not an end-all be-all for my business proposition.

I also expressed ambiguity concerning issues with distributors, but quickly realized from the feedback that such an issue is commonplace and would likely pose no threat to the business.