- Gun stores are a popular and profitable investment, as the demand for firearms and ammunition is higher than ever.
- Gun store owners should invest in physical security measures to protect their businesses from theft, vandalism, and other illegal activities.
- They should also take steps to secure their computer networks by implementing firewalls, encrypting data, and performing vulnerability scans.
- Firearm retailers need to obtain insurance policies to protect against potential loss or damage claims.
Gun stores are a lucrative investment, as they have recently gained popularity. With more people exercising their right to bear arms, the demand for guns and ammunition is higher than ever. Sales of firearms and bullets reached record highs in 2020, with a 37% increase over 2019 and an estimated $4.3 billion in sales for the year.
Due to this high demand for firearms, gun stores can be highly profitable. Not only can these retailers sell a variety of weapons at a marked-up price from what they pay from wholesalers, but there are also numerous services that gun stores can provide that can generate additional revenue. These services include hunting and shooting supplies, background checks, repairs and maintenance on guns, customizing services, classes and training programs related to gun safety and proper firearms handling, and ammo reloading services.
Because gun stores are profitable, they are vulnerable to theft and other crimes. Thus, gun store owners must protect their businesses from theft, vandalism, and other illegal activities. Here are a few things that you can do to help.
Physical Security Measures
Unfortunately, it is not uncommon for gun stores to be targeted by criminals looking to steal firearms, ammunition, and other items from the store. A 2018 report from the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) showed that there were close to 10,000 firearms stolen in burglaries reported by federally licensed retailers during that year alone. To help prevent these types of crimes, gun stores should take specific physical security measures to protect their inventory.
Security Cameras and Alarms
One measure gun store owners should consider installing is a physical security system with a combination of alarms and cameras. Cameras can help deter theft by providing an additional visual deterrent to would-be thieves. They can also monitor employee activity and capture images of criminal activities in or around the store. Additionally, alarm systems can signal law enforcement when an intrusion is detected.
Armed Guards
Another measure to consider is hiring armed guards or off-duty police officers for extra security at the store during business hours or overnight shifts. Having an armed guard on duty can be an even more excellent deterrent for criminals looking to break into a gun store after closing. Security personnel wearing uniforms can also help customers feel more secure while shopping in the store and make it easier to identify anyone who doesn’t belong in the area.
Reinforced Measures
Gun stores may also want to invest in additional protective measures such as bulletproof glass windows and doors and reinforced walls that are difficult to penetrate with hand tools like hammers or axes. These measures will make it much more difficult for anyone trying to enter the firearm vault or backroom, where most guns are stored securely. Gun stores can even install motion sensors inside the locker to alert them if anyone attempts to access without management personnel’s permission or authorization.
Cybersecurity
In addition to physical security measures, gun stores must protect themselves from external threats. Cybersecurity is essential to any business’s overall security plan and applies to firearm retailers.
Firearm retailers should take steps to secure their computer networks, including implementing firewalls, encrypting data, and regularly conducting vulnerability scans. Firearm retailers should also ensure adequate access control measures to limit who can access the network and what activities they are allowed to perform. Furthermore, you should train all employees with access to the network on proper cybersecurity practices, such as using strong passwords and avoiding suspicious links or attachments.
Insurance Policies
Gun stores must have insurance protection to protect against the loss, damage, and liability claims. Insurance coverage is essential for gun store owners because it provides them with financial protection in case of a lawsuit or other legal action resulting from their business operations. Here are a few to consider.
General liability insurance
The ideal insurance coverage for gun stores would be general liability insurance. General gun liability insurance program covers gun stores in case of an injury occurring onsite or offsite by someone who purchased or handled a firearm from the store. It also helps cover legal costs associated with defending against lawsuits related to product defects or other claims from selling weapons from their shop.
Inventory protection
Inventory protection insurance will help gun store owners protect their inventory from theft, vandalism, and natural disasters. This coverage also helps cover the cost of replacing lost or damaged merchandise.
Workers’ compensation
Workers’ compensation insurance is necessary for employees working in a gun shop to provide them with financial protection should they suffer an occupational injury or illness.
Final Thoughts
By taking these measures, firearm retailers can ensure that their businesses are safe and secure for customers and employees alike. Implementing physical security measures, upgrading technology, investing in cybersecurity solutions, and obtaining the right insurance policies can help keep firearms stores protected against theft, liability claims, and other risks.
