SHOT Show Day 1
This is my second year back at SHOT Show — I’m an investor/partner in a small retail gun shop, so I’m interested in the show for a few reasons: tools for the shop itself (IT, bound book software, point of sale systems, payment processing, etc.), stuff to sell in the shop, and things which personally interest me.
The highlight of the day (for me) was ending a 48h fast with a 26oz bone-in ribeye and a lobster tail at Smith and Wollensky’s, which absolutely beat the on-show-floor vendor food. This city has so many amazing steakhouses.
Incidentally, being involved in a small business, especially in retail, has been super educational for me. I’m used to venture-backed stuff where scaling and growth is a priority, and where success has to happen within a reasonable timescale or else the opportunity cost is too high; a venture-backed business that grows by 10% per year is a failure. Taking risks, debt, etc are all very reasonable in such an environment; lots of structures exist to facilitate that. In a small business (self financed, non-scaleable focus), the main goal is covering costs (including salaries for partners who are working), while building the business more slowly. Lots of small things like how to process payments, banking, insurance, HR, etc. are very different in such a business.
So far, a few things struck me:
Covid precautions are basically over. Last year was a somewhat hostile environment where the show management (due to local regulations) were trying to enforce masking (and Geissele gave out some really nice surgical masks printed with their logo). This year, a few people (mostly older and Asian) were wearing masks, but less than 5%.
Most booths are in the same locations as last year (I guess this is normal?) selling the same things. Compared to the technology industry, this is not a particularly innovative or fast paced industry. Big news is someone releasing a tweak on an existing product. Prices have gone up on some items (especially non-firearms).
Overall, very relaxed atmosphere. Doesn’t seem to be a fear of impending regulation (beyond the pistol brace thing which happened already and will soon be legally challenged), so there’s not intense buying pressure from end users, but also not a massive oversupply.
Today I’m going to explore more (after getting lunch) and then check out specific new products.