If all stays exactly as it is now, it would seem this is a good arrangement for the owners and you. Problem is, things seldom stay the same.
If the business thrives and grows and it becomes noticeable that the non-rent paying gunsmith is taking up floor space that is needed for a growing inventory, at least one of the three owners will take issue with that.
If the business fails and goes bankrupt, good luck retrieving your duplicator and tools when the bankruptcy court trustee locks the door prior to auctioning off the stores' assets in order to pay creditors. I once lost a good many personal tools when an employer filed ch.11 and eventually liquidated in a ch.7 bankruptcy. I had few receipts for tools acquired by me over the years whether purchased new or at auctions or bought used.
There are a million scenerios in between these which can affect you. The advice given to protect yourself should not be ignored. You can negotiate becoming a 1/4 partner and share in the risks and rewards equally. You can become a seperate entity or even a subcontractor, but you need to define your role and protect yourself and your assets.
You might want to find out if the "gunsmiths" who work for Cabelas or Gander Mountain maintain their own FFL, or rely on the store or corporate FFL. Better yet, you might want to contact BATFE and get a definitive answer in writing since, as Jim notes in so many words, they will not consider ignorance of the law as a valid excuse.
I do hope this venture works out for you and the owners as the number of stocking gun shops and FFL's is in definite decline since the Clinton years.
