45951 - Used Merchandise Retailers
Introduction
In the dynamic world of retail trade, NAICS code 45951 stands out as a key classification for businesses specializing in secondhand goods. If you're involved in or interested in the resale market, understanding Used Merchandise Retailers (NAICS 45951) is essential. This code covers a wide range of establishments that play a crucial role in recycling goods and promoting sustainable consumption. Whether you’re a budding entrepreneur or a government contractor, knowing this NAICS code can open doors to relevant opportunities.
What is NAICS Code 45951?
NAICS 45951 applies to Used Merchandise Retailers—businesses primarily engaged in selling used goods. These establishments stock and retail secondhand items such as:
- Clothing
- Furniture
- Electronics
- Household goods
- Jewelry and accessories
These retailers contribute to the circular economy by giving pre-owned items a second life while serving budget-conscious consumers.
Sector: Retail Trade
NAICS code 45951 falls under the broader Retail Trade sector. This sector includes businesses engaged in selling merchandise, generally without transformation, directly to consumers. Used Merchandise Retailers are an important niche within this sector, focusing on the resale of goods that have been previously owned.
Typical Business Types under NAICS 45951
Businesses under this classification typically include:
- Thrift Stores: Often nonprofit or community-based, selling donated goods at discounted prices.
- Consignment Shops: Selling goods on behalf of the original owners, usually sharing profits with them.
- Pawnshops: Offering secured loans to customers against personal property, and selling merchandise when loans are not repaid.
These shops not only provide value to customers but also promote sustainability by reducing waste.
Size Standards for NAICS 45951
For small business considerations, the U.S. Small Business Administration (SBA) defines size standards for classification:
- Maximum Size Standard: Generally, a retail establishment under NAICS 45951 is considered small if it has annual receipts of $30 million or less, although this can vary depending on specific subcategories and government solicitations.
- This size standard is important for businesses seeking to qualify for federal contracts or loans as a small business.
Examples of Businesses under NAICS 45951
- Goodwill Industries International (Thrift Stores)
- The Salvation Army Family Stores (Thrift Stores)
- Independent consignment boutiques specializing in designer clothing
- Local pawnshops providing consumer loans and retailing used electronics
NAICS Code 45951 Details Table
| Attribute | Details |
|---|---|
| NAICS Code | 45951 |
| Title | Used Merchandise Retailers |
| Description | Establishments retailing used goods such as clothing, furniture, electronics, and other secondhand items. Includes thrift stores, consignment shops, and pawnshops. |
| Sector | Retail Trade |
| Typical Business Activities | Selling used merchandise, accepting goods on consignment, pawning items, or refurbishing secondhand goods |
| Examples of Business Types | Thrift stores, Consignment shops, Pawnshops |
| Size Standard | $30 million or less in annual receipts (typical for small business) |
Frequently Asked Questions (FAQs)
What kinds of products do Used Merchandise Retailers sell?
Used Merchandise Retailers sell a broad range of secondhand goods, such as apparel, home furnishings, electronics, collectibles, jewelry, and tools.
Can nonprofits operate under NAICS 45951?
Yes, many thrift stores operated by nonprofits classify under this NAICS code while helping fund charitable activities.
Are pawnshops included in NAICS 45951?
Yes, pawnshops that retail used merchandise along with providing secured loans fall under this classification.
Why is NAICS 45951 important for small businesses?
Understanding NAICS 45951 helps small businesses identify opportunities for government contracts, loans, and compliance with federal programs.
How does NAICS 45951 contribute to sustainability?
By facilitating the resale and reuse of goods, these businesses reduce landfill waste and promote eco-friendly consumption habits.
Conclusion
NAICS code 45951—Used Merchandise Retailers—represents an essential segment of the retail trade sector focused on secondhand goods. From thrift stores and consignment shops to pawnshops, this classification encompasses a variety of business models that provide affordable options to consumers while supporting sustainable practices. Whether you’re running a used furniture shop or a community thrift store, knowing the details of this NAICS code can help position your business for growth and compliance in the competitive retail marketplace.
Explore opportunities within NAICS 45951 to leverage your used merchandise business today!
