STANDARD COMPETENCIES:

 

 1. Create and manage a basic firearms (repair and/or service) business, complete with a business plan ready to be submitted to a bank, other loan agency or venture capitalist.

 2. Utilize basic accounting practices to produce:  financial statements; maintain proper inventory control; and report and pay proper local, state, and federal liabilities.

 3. Create forms necessary and appropriate to their firearms business:  work order, price lists, price points, sales order forms, receipts, and inventory sheets.

 4. Perform sales functions, which include but are not limited to:  counter and/or telephone sales, collection of appropriate sales taxes, reporting of sales taxes to the appropriate entity and basic customer service functions.

 5. Explain and comply with regulatory agencies, including but not limited to: the Bureau of Alcohol, Tobacco, and Firearms (BATF) Division; Occupational Safety and Health Administration (OSHA); and the U.S. Department of Labor Board.

 TOPICAL OUTLINE:

 

 I. Firearms Business Formation

 A. Selecting ownership method

 B. Business plan creation

 C. Competitive advantages

 1. Location

 2. Marketing

 3. Retail vs. Service oriented business

 II. Basic Accounting Concepts

 A. Accounting terminology and accounting cycle

 B. Financial Statements

 C. Maintain basic inventory and inventory control methods – rotation of inventory

 D. Compliance with local, state, and federal agencies/liabilities

 1. Sales tax

 2. Employee payroll deductions/liabilities

 3. Business tax for a sole proprietorship, partnership, or corporation

 

 III. Creation and proper use of forms

 IV. Sales Functions of a Retail/Repair Shop

 V. Regulatory agencies compliance – proper paperwork and timely submittal to:

 A. BATF

 B. OSHA

 C. U.S. Department of Labor