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Pete’s Gun Shop Closing

Marty McFly said:
I wonder why he didn't try to sell.
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Nobody getting into the business wants someone elses liabilities unless theres a lot of stored value there. There's maybe 4, 5 shops in the whole state that have that kind of street cred... unless you can show lots of positive ink most people just assume start fresh.
 
chris_1001 said:
The Rat had his biz for sale a while back.

Price was stupid high and no one apparently wants to buy a shop from that POS.
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The rats shop is a third or quarter its original size, he's in a shoebox now... 🤣 nobody is gonna buy that.... Gartman, BPS crushed him and a bunch of others. Its tougher in a region that has an easy 40% less gun money, too. In southcoast land you cant have a shitty shop or you will get annihilated. If i had a list of all the shops that failed hard in that region in 10yrs or less it'd be long. The rat screwed himself though.... he used to be top three in S&W sales at one point, those days are long gone. 🤣
 
drgrant said:
The rats shop is a third or quarter its original size, he's in a shoebox now... 🤣 nobody is gonna buy that.... Gartman, BPS crushed him and a bunch of others. Its tougher in a region that has an easy 40% less gun money, too. In southcoast land you cant have a shitty shop or you will get annihilated. If i had a list of all the shops that failed hard in that region in 10yrs or less it'd be long. The rat screwed himself though.... he used to be top three in S&W sales at one point, those days are long gone. 🤣
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I’d have had to go in to see his current space. Lol

When he had a listing up, some of the inventory pics showed BB guns. I shit you not. The claim of his inventory values were grossly inflated.
 
I would have thought his son would take over. He was always there when I went in, and his girlfriend had been working there, too. It's been a while though.
 
drgrant said:
The rats shop is a third or quarter its original size, he's in a shoebox now... 🤣 nobody is gonna buy that.... Gartman, BPS crushed him and a bunch of others. Its tougher in a region that has an easy 40% less gun money, too. In southcoast land you cant have a shitty shop or you will get annihilated. If i had a list of all the shops that failed hard in that region in 10yrs or less it'd be long. The rat screwed himself though.... he used to be top three in S&W sales at one point, those days are long gone. 🤣
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Not only that but he wouldnt really invest in his business, when everyone else was selling tacticool shit and AR parts he couldn't get out of the bolt action/revolver mindset. I was friendly with one of his past employees and he would tell me they would try talking him into bringing in other stuff but he wouldn't' listen, then he went and shot himself in the foot with the Glock thing.
 
The problem with selling a store is valuation.

Inventory is not hard, you can see how much was paid and how much it can be sold for.

But there is the added value of already being a known store, having customers, having a location that allows an FFL ... how much is that worth to someone?

Is the name and location worth that much?

Maybe relationships with distributors adds to the value. I am not in that world so I don't know.
 
1903Collector said:
Not only that but he wouldnt really invest in his business, when everyone else was selling tacticool shit and AR parts he couldn't get out of the bolt action/revolver mindset. I was friendly with one of his past employees and he would tell me they would try talking him into bringing in other stuff but he wouldn't' listen, then he went and shot himself in the foot with the Glock thing.
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What did he do for the glock thing
 
Sf Becket said:
Just saw on Facebook that Pete’s Gun Shop in Adams is closing at the end of the year….due to retirement…Hate to see any Gun Shop close especially them…Best shop in all of Berkshire county IMO
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Yep. Good for them... kind of sad for me. I never got out to visit them at their Adams shop, but I was a fan of their presence at the Marlboro and West Springfield shows. Tried to buy 3 handguns from them over time, ended in success with just one (should have been at least 2!). [laugh] But good people for sure. May they have a long and happy retirement! [thumbsup]

I see they are still open until the end of the year? Road trip time? [cheers]
 
EJFudd said:
Yep. Good for them... kind of sad for me. I never got out to visit them at their Adams shop, but I was a fan of their presence at the Marlboro and West Springfield shows. Tried to buy 3 handguns from them over time, ended in success with just one (should have been at least 2!). [laugh] But good people for sure. May they have a long and happy retirement! [thumbsup]

I see they are still open until the end of the year? Road trip time? [cheers]
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They do have quite a bit of inventory
 
chris_1001 said:
The Rat had his biz for sale a while back.

Price was stupid high and no one apparently wants to buy a shop from that POS.
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That dumbf*ck wanted retail price for everything in his store. His gun shelves are so empty, and his accessories are super overpriced. Its no wonder he didn't sell.

Oh, and to try and get rid of the black cloud that hovers over that store it would be easier to just start your own place anew.
 
Prices were always pretty high, but competition is light around here and he would have stuff in stock. I'm up that way every week but on my return trip, after it's closed. No reason I can't change it up once.

The day I got my license they were open late. I raced up with an envelope full of cash. Tom asked if he could help me and I said "Yes, I would like to buy some guns". Then he sold me some guns. He gave me a tshirt, which I still have and wear.

He lives up in VT near a friend of mine who talks fondly of the machinegun fire and tannerite booms.
 
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thorin said:
Just in case anyone gets to the thread late and lacks reading comprehension, Pete's is one of the best stores in the Berkshire area and has nothing to do with "the rat" and I'm not sure why it has turned into a thread about him
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Never miss an opportunity to remind people that not all gun shops are good for the community.

Get the word out that Ted the Rat is not worthy of our business.

Sucks that a good one is closing.
 
I was in there today, the place was mobbed. Now, it's no 4 Seasons so mobbed is relative, but I've never seen so many people in there. Tom kind of hinted that someone might be buying it. Something like "Could be closed, could open under new ownership, who knows?" kind of statement.
 
Hi, this is Tom, the owner of Pete’s. First, I would like to say that we have NOTHING to do with “the Rat”.

We started our retirement plan well over a year ago. Our son had decided to put his business degree to work in the financial industry, handling other people’s money, a fine plan in MY mind! And he did so with our our blessing and encouragement! So, we put our heads together back then and decided upon a December 30th closing date when we will cease in person retail sales. The remaining inventory will then be sold online, after which we will sell the building and be on our way to our long awaited retirement. That is Plan A. Plan B is to entertain offers from interested parties for the whole thing, real estate, business name, inventory etc. as an established business with a new FFL in the new owners name. We have a huge inventory right now, roughly 2 to 3 times what we used to have when we were doing gun shows. And we have hands down the BEST clientele in Massachusetts! Time will tell where Plan B goes. We most likely will be listing the business in a couple weeks as we do have a couple interested parties that we are talking to right now. We are past retirement age, and being still in good health we want to enjoy our retirement which is what we have worked hard for, as the shop was started by my Dad, Pete, in 1956.

We would like to thank all of our friends and customers for their loyalty and business and for allowing us to pursue our passion in this shop. It is bittersweet but it is also time.

We also would like to say this has nothing to do with the new legislation debacle as we initiated the process long before Rep. Day’s nasty dream came along. Stay strong, and more importantly, UNITED against those who would strip you of your rights. Remember, gun owners can be their own worst enemy sometimes, but totally united we can still be a force to be reckoned with.

Thanks!

Tom, Pat, Mike, Todd and Jim, and our wonderful shop dogs Mocha and Shelby!
 

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