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Gun Shop

Opinions expressed by Entrepreneur contributors are their own.

Startup Costs: $10,000 - $50,000
Franchises Available? No
Online Operation? Yes

In spite of the fact that gun ownership is becoming increasingly restrictive due to government legislation in both the United States and Canada, opening and operating a retail business that buys, sells, and trades guns still has the potential to be profitable. In addition to gun sales you can also sell ammunition and hunting-related products as well as offer a gun repair service. Promote the business by establishing alliances with gun clubs and shooting ranges as well as with firearm instructors, as these clubs and individuals can refer your business to others. Starting this type of retail business will require a substantial investment and you will also have to clear a few legal hurdles before you can open. A well-promoted and operated gun shop could return the owner a six-figure yearly income.