At the beginning of the 20th century, the arms factory of merchant Ivan Fyodorovich Petrov was one of the largest in the country, and its products were in high demand abroad. Ivan Fyodorovich started his career at the Izhevsk factory as a simple mechanic, where he also graduated from the Arms School. After becoming a qualified specialist, he decided to open his own business. Petrov's factory mainly produced hunting rifles. It was in Izhevsk that the first Russian large-caliber shotgun for hunting waterfowl, known as the "duck gun," was created. It was expensive but quickly paid off, as its effective range reached almost 100 meters, allowing hunters to take down more than a dozen birds with a single shot.

Later, Ivan Fyodorovich began acquiring Krnka and Berdan rifles from abroad, which were converted into smoothbore guns for hunting large animals such as bears, walruses, wolves, and moose. The factory's shop also sold ladies' pistols, revolvers, gunpowder, cartridges, and various hunting accessories.

Petrov's enterprise thrived and expanded rapidly. By 1914, more than 300 people worked at the factory. The merchant often lured the best craftsmen and specialists in weaponry, but he was strict at work: he fined for unclean machines, smoking, tardiness, and defects. At the same time, he treated his employees paternalistically, helping them in case of illness, giving money for weddings, and assisting in acquiring housing.

Ivan Fyodorovich also did a lot for his native Izhevsk. With his funds, a maternity hospital and two churches were built, and he sponsored the construction of the local railway. However, in February 1917, everything collapsed, and a year later, the factory was nationalized. Petrov offered the authorities to keep him at the factory even as a janitor, but he was ordered to leave Izhevsk. The once prosperous businessman spent his last days in complete poverty in a communal apartment in Moscow.