Unlocking Opportunities: Fiber Laserpreneurs in the Lucrative Firearms Industry By Jeff Stockton
BlankBank and Upstate Laser Engraving As the ownership of fiber lasers skyrockets within the laser community, many laserpreneurs are exploring new revenue streams that can significantly contribute to their bottom line. One industry that should not be overlooked is the US firearms industry, boasting an impressive worth of approximately $28 billion and contributing a substantial $51.3 billion annually to the US economy. The economic impact of this industry has surged by 232% since 2008, presenting a meaningful business opportunity for fiber laser entrepreneurs. Revenue Models There are three main revenue models for working with firearms, all of which involve securing an FFL (Federal Firearms License.) Working with manufacturers: this path allows you to receive parts from a gun manufacturer, mark them with their serial number, and return the parts to the manufacturer for completion of the firearm. Having a type 07 FFL is required. Working with gun retailers: marking the guns in any of several ways, enhancing the firearm’s value through commerce. Again, a type 07 FFL is needed. Working with the gun owners: this could involve personal customization and/or marking an owner’s gun with their name, city, and state when they have applied for and been granted a modi32
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fication through the National Firearms Act (NFA). For this, a type 01 FFL would be sufficient. Understanding FFL Levels There are nine types of FFLs. Only three would be appropriate for a laser entrepreneur: • Type 01 - Dealer in Firearms Other Than Destructive Devices • Type 02 - Pawnbroker in Firearms Other Than Destructive Devices • Type 07 Manufacturer of Firearms Other Than Destructive Devices The 07 allows you to work on guns in the manufacturing process (in other words, unsold, which is the first and second path described above); the other allows you to work on a gun that has already been purchased (the third scenario.) Usually, the best choice is to go with the 07 as it covers services in any of the above situations, and the cost for the 07 versus the 01 is not significantly different. Common Myths and Legal Clarity Dispelling common myths is crucial. Contrary to misconceptions, having someone present while working on their firearm or avoiding an overnight possession does not negate the need for an FFL. Possessing an FFL is essential to staying compliant with the law and protecting the entrepreneur and the business. FIREARM Continued on P 35 January/February 2024
