Where’s the money? Handgun accessories: accessories are important to a gun dealer’s overall profit!
The “Accessory Kings.”
That’s the title customers have given Fin Feather Fur Outfitters in Ashland, Ohio. It a well-deserved - and profitable title.
“Accessories are where you make your profit, said Mike Goschinski, owner and president of the mega outdoor store. “That’s how we’ve grown our business from 2,400 square feet 16 years ago to 70,000 square feet now. If you’re selling handguns but not selling accessories, you’re doing a lot of work for nothing.”
Goschinski inventories an impressive number of firearms. However, he’s clear on what makes his operation successful.
“There’s no money left in guns,” Goschinski said, bluntly. “The way we’ve built the business is making sure we have a lot of accessories for the handguns we sell. The key is stocking all the right accessories for each handgun that you have in stock.”
Accessories play an increasingly important role in a gun shop’s business, especially in tight economic times.
“Our 2002 sales were up, but it was a competitive year, a tough year,” Goschinski said. “We worked hard to get our sales up.”
Todd Seyfert, vice president of sales and marketing for Michaels of Oregon, said mainstream hunting products - including those for handgun hunting - were up about 10 percent during late 2002.
“Law enforcement sales continue to be steady,” he said.
One thing that has changed, Seyfert said, are the types of products customers are buying.
“People are still in the shops, but they may not be spending $400 for a new handgun.”
Rather, according to Seyfert, they’re buying accessories, particularly new products in the $15 to $20 range.
“People are struggling with spending $200, $300 or $400,” he said. “But they feel they’re able to part with $15 to $20. We’ve really seen products in that price range - $19.95 and less - do well.”
Goschinski and Seyfert reinforce the long-held belief that accessories are the bread-and-butter of a gun shop. This is especially important today as consumers keep a weary eye on the sluggish economy before buying big-ticket items.
Focus On Add-Ons
Treating handgun accessories as a vital part of a gun shop, rather than as an afterthought, means extra dollars.
Fin Feather Fur Outfitters is in a highly competitive location, with several buying group members doing business nearby. As a result, Goschinski’s margins range from 30 to 45 percent on accessories. In less competitive areas, accessory margins can be considerably higher.
“What we typically hear is a minimum of 40 percent,” Seyfert said. “Some retailers are able to keystone their handgun accessories.”
At Fin Feather Fur Outfitters, Goschinski doesn’t leave his handgun accessories sales to chance. He provides his sales personnel with financial incentives for making add-on sales of accessories.
“We try to merchandise everything that’s handy and readily available, and we have it ready to go for the customer,” Goschinski said. “We also have a suggestion list for our customers.”
In addition to stocking the right accessories for the right handgun, Seyfert recommends dealers stock what is new.
“Dealers must have new products in their stores,” Seyfert said. “It doesn’t do any good for a manufacturer to advertise a new product, and then when the consumer goes to a gun shop to find the dealer doesn’t have it available.”
Top dealers read consumer magazines including GUNS and American Handgunner to stay tuned to what manufacturers are pushing. Shooting Industry offers extensive insight to what’s new and what’s selling. These resources help dealers stock the right accessories for their store. However, Seyfert cautions, dealers need to know their market and what their customers want.
“Not all new products make sense for every dealer,” Seyfert said. “But there are enough new products every year to keep a dealer’s inventory fresh and interesting.”
RELATED ARTICLE: Stock The Right Inventory
Holsters
Holsters are the number one natural add-on or a handgun sale. Beyond the initial holster, consumers are always looking for replacements and the newest offering with the latest features.
Uncle Mike’s Kydex holsters attract consumers. In 2001, the holster line received the Accessory of the Year award from the Shooting Industry Academy of Excellence.
“Our Uncle Mike’s Kydex line of holsters and accessories continues to impress us,” Seyfert said. “We were able to get the holsters down to $19.95 through injection molding, and the numbers continue to climb every year, across the board, across the country. We’ve added new holster sizes and new models for this year.”
DeSantis Holster offers a wide variety of leather, Kydex and nylon holsters. The Jackal is a new all-Kydex paddle holster that’s low cut in the front and unlined for a faster draw. The new Air Marshal Holster is designed for cross draw carry. The holster slides on the belt on built-in belt slots. It’s currently available for most Smith & Wesson J frames with 2- to 2 1/2-inch barrels, with other models to follow. The new style DeSantis Die Hard Ankle Rig has a neoprene leg band and a sheep wool lining.