456 - Health and Personal Care Retailers
When it comes to understanding the classification of businesses in the retail sector, NAICS code 456 stands out as the key identifier for Health and Personal Care Retailers. This code is essential for government contracting, market research, and regulatory compliance, especially for businesses involved in selling health-related products. Whether you operate a pharmacy, health supplement store, or a cosmetics retailer, knowing the details of NAICS 456 can help you align your business with the right industry standards and opportunities.
What is NAICS Code 456?
NAICS code 456 represents the industry comprising establishments primarily engaged in retailing health and personal care products. This includes a wide range of stores that offer essential items such as:
- Prescription and non-prescription drugs
- Health supplements
- Cosmetics and personal care items
These retailers play a critical role in the Retail Trade sector, providing consumers with necessary health and wellness products.
Sector and Typical Business Activities
Sector: Retail Trade
NAICS code 456 falls under the broader Retail Trade sector, which includes a diverse array of businesses focused on selling goods directly to consumers.
Typical Business Activities under NAICS 456:
- Operating pharmacies and drug stores offering prescription medications
- Selling health supplements including vitamins and wellness products
- Retailing cosmetics, skincare, hair care, and other personal care items
These businesses are vital for wellness, grooming, and pharmaceutical needs, making them a significant component of both local and national economies.
Size Standards for NAICS Code 456
Understanding the size standards for NAICS 456 ensures eligibility for government programs such as small business certifications and federal contracts. The U.S. Small Business Administration (SBA) sets these standards based on either the number of employees or average annual receipts.
| NAICS Code | Industry Title | Size Standard (Employees) | Size Standard (Annual Receipts) |
|---|---|---|---|
| 456 | Health and Personal Care Retailers | 100 employees | $30 million (varies by sub-industry) |
Note: Size standards may vary depending on the specific subcategory within NAICS 456. Always consult the SBA or official resources for the most accurate details.
Examples of Businesses Under NAICS Code 456
To further clarify, here are some typical business types classified under NAICS 456:
- Pharmacies and Drug Stores: Walgreens, CVS, local community pharmacies
- Health Supplement Retailers: Vitamin shops, specialty nutrition stores
- Cosmetics and Personal Care Product Stores: Sephora, Ulta Beauty, boutique skincare shops
These businesses range from small, family-owned stores to large national chains, all contributing to the health and beauty retail market.
Detailed NAICS Code 456 Breakdown
| Code | Industry Title | Description |
|---|---|---|
| 456 | Health and Personal Care Retailers | Establishments primarily engaged in retailing health and personal care products like pharmacies, drug stores, and health supplement shops. |
Frequently Asked Questions (FAQ)
What products are covered under NAICS 456?
NAICS 456 covers prescription and non-prescription drugs, health supplements, cosmetics, personal hygiene products, and related health and wellness items.
How is NAICS 456 different from other retail codes?
While other retail codes may focus on general merchandise, NAICS 456 specifically targets health and personal care products, making it unique to pharmacies, health supplement stores, and cosmetics retailers.
Can a business have multiple NAICS codes?
Yes. A business can have multiple NAICS codes if it engages in various types of activities. However, it will have a primary code that best categorizes its main line of business.
Why is knowing your NAICS code important?
Knowing your NAICS code helps in government contracting, tax filings, industry analysis, and qualifying for SBA small business programs.
How do I find the official size standards for NAICS 456?
The U.S. Small Business Administration website provides the most up-to-date size standards by NAICS code and sub-industry details.
Conclusion
NAICS code 456 is crucial for businesses involved in retailing health and personal care products. Whether you run a pharmacy, a health supplement store, or a cosmetics shop, understanding this code helps you tap into targeted business opportunities, comply with regulatory requirements, and accurately position your company within the Retail Trade sector.
Stay informed and leverage the specifics of NAICS 456: Health and Personal Care Retailers to grow your business smartly in this thriving industry!
Keywords: NAICS 456, Health and Personal Care Retailers, pharmacies NAICS code, drug stores classification, health supplement retailers, cosmetics retailers, Retail Trade sector, government contracting NAICS
