Over the last several weeks, the firearms industry has been booming thanks to public concern centered around COVID-19 and the societal impact it is having. With millions of Americans concerned about the protection of life, liberty, and property; it’s easy to understand why demand has increased.
The industry has seen demand spikes before; 2008, 2012 and 20016 being prime examples. However, after each one of these periods gun shops across the country were forced to close. One of the leading causes for shops going under was that they didn’t have a strategy to manage their inventory investment and made critical mistakes that caused them to tie up precious cash. It’s easy to make these mistakes and any buyer that has been around more than a year or two has done it to some extent. The trick is to have a plan to minimize the impact and avoid repeating the “sins of the past”.
Below are a few basic strategies you can implement...
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