I know it takes several months. My Dad had a gunshop for years, when he passed away I had a buddy that wanted to take the shop over, He had to have an established business, open and running several months before they would issue him a FFL, I guess this is one way they have to keep people from dealing in firearms from their house.
Heres a link that might help you out.
http://www.atf.treas.gov/firearms/nlc/index.htm