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Thread: TGSCOM(Eric Thompson) Forgos Profits for next two weeks

  1. #1
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    While this is not just a topic for the Va section I thought since Eric Thompson is/was scheduled to visit tech:





    Owner of Web-based Firearms Company that Sold to Virginia Tech and NIU Shooters to Forgo Profits to Help Prevent Future Loss of Life

    TGSCOM, Inc


    GREEN BAY – A regrettable tie to two mass murders on college campuses is spurring a firearms dealer to forgo profit for the sake of preventing future loss of life.

    Eric Thompson’s company, TGSCOM Inc., sold Virginia Tech shooter Cho Seung-Hui a Walther P22through theWeb site http://www.thegunsource.com. Steven Kazmierczak, who killed five people at Northern Illinois University (NIU) on February 14th, received two 9mm Glock magazines and a holster he ordered from the TGSCOM Inc. Web site http://www.topglock.com.

    Ever since the NIU shootings, Thompson has been using his unfortunate coincidence to press for changes that will make it easier for law-abiding citizens to carry a gun to protect themselves, the people they love and their neighbors.

    Today, Thompson is backing up his words with actions. For the next two weeks, Thompson will not take any profit on firearms sales from any of his over 100 Web sites. Instead, Thompson will offer guns to customers for the same cost he pays for them.

    “I hope and pray I will never again be in a position where I am asked questions about selling items used in a crime,” said Thompson. “The next news story I want to be involved in is how I sold a firearm to someone who helped stop a mass murderer. By forgoing a profit, I hope to help give law-abiding citizens the tools to prevent tragedy.”

    By logging onto http://www.gunsatcost.com, law-abiding citizens will have the chance to purchase a firearm to protect themselves and their loved ones. Customers will have over 5,400 different kinds of firearms from which to choose.

    Since learning of the unfortunate and random twist of events that made Thompson’s company a part of both the NIU and Virginia Tech shootings, Thompson has said he has “a special responsibility to work to prevent future tragedies.”

    Thompson has since launched a Web site, http://www.gundebate.com, to help spur a dialogue in search of solutions to stop future mass shootings and also to act as a clearing house for public safety ideas.

    Thompson also announced that he plans to visit Blacksburg, Virginia on Thursday, April 24 to speak at a Virginia Tech Students for Concealed Carry on Campus event. Thompson will use the speech to highlight his support for giving law-abiding citizens the right to protect themselves from criminals.

    Thompson recently partnered with Students for Concealed Carry on Campus to provide hundreds of holsters donated by his customers and gun manufacturers to nearly 30 colleges and universities for students to participate in the second-annual “empty-holster protest.” The purpose of the protest is to object to state laws and university policies that forbid law-abiding citizens from carrying concealed weapons on campuses.




    Source: http://www.thegunsource.com

  2. #2
    Founder's Club Member - Moderator ed's Avatar
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    I ordered a RugerLCP when it was first mentioned from his http://www.rugerlcp.com site for 255.00 plus shipping.. Now that you mentioned this.. I was going to go buy a second one at a discount since it is NOW at cost.. I went to the web site and now it is dramatically reduced to the cost price of $255!

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    There is a thread on AR15.com about this: http://ar15.com/forums/topic.html?b=...5&t=702623

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    His prices are ******** and he is exploiting VT for it.

    Those prices are no where near "cost"

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    Regular Member vt357's Avatar
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    hsmith wrote:
    His prices are ******** and he is exploiting VT for it.

    Those prices are no where near "cost"
    I agree those prices are prety steep. What he should have done is to keep his prices the same, but donate all profits for those two weeks to Students for Concealed Carry on Campus.

  6. #6
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    The prices look pretty darn good to me. The prices of guns are getting higher and higher by the month. What was dealer cost a year or even a couple of months ago is probably a lot lower than it is today.

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    hsmith wrote:
    His prices are ******** and he is exploiting VT for it.

    Those prices are no where near "cost"
    "gunsatcost.com" is not to be taken literally, it is qualified with the statement "will not take any profit"..

    Ever wonder why a store owner gives an "employee discount", but won't let his employees buy merchandise for the "invoiced cost"? The owner would be taking a loss for example:

    Let's say I have a rifle that retails for $1300..

    Actual Invoice Cost $1000
    Average Credit Card Surcharge $20
    Amortized Annual "Cost of doing business/licensing/insurance/utilities,etc" $60
    Amortized Annual Payroll $50
    Estimated tax liability incurred by this sale $20
    ________________
    $1150 -- Summary of Cost-of-Goods-Sold
    -$1300
    ======
    $150 in profit

    So.. in reality, it is very likely that a store owner selling a rifle for $1150 that he purchased for $1000 instead of the "full retail" of $1300 is in fact selling"at cost" for all practical purposes.

    Selling below $1150 is damaging to the business because it would be better for the owner not the stock the rifle or make the sale.

    If anyone is able to explain it any differently, we'll pay top-dollar for an accountant at the store who can make money grow on trees.


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    If you check out this link, http://www.gunsatcost.com/Content.as...y=Guns_at_Cost , Mr. Thompson explains what he considers at cost. He includes the invoice cost of the firearm and the credit card processing fees. He is therefore claiming to sell the guns at an accounting loss because he is not including other expenses such as payroll, building, insurance, etc.

  9. #9
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    I can tell you from experience in having a business that you are crazy to sell at cost and not make a little something. Even a few dollars. If you do volume on something easy to work with you can still clean up making only a few dollars per transaction. You can also make it on the back end by inflating the cost of shipping.

    But most businesses have a profit margin they must maintain so that they cover all the costs involved as already described and then make a small profit. Credit card transactions are the worst! You are giving away about 2% of the total sale but it actually is a larger portion of your profit in reality.

    Say a gunthat cost$1000 sells for $1500 (50% markup)

    Your profit would be $500... (Obviously)

    But a card transaction costing 2% of $1500 transaction = $30.00that youwill lose.

    Where 2% of the actual profit alone of $500 would actually have been$10.00.

    So you cannot sell at cost!! You have to price it to recover shipping to you and unless cash or check... the credit card cost.

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