459510 - Used Merchandise Retailers
In the dynamic world of retail trade, NAICS code 459510 holds a unique place. This classification is essential for businesses engaged in the resale of used goods, encompassing a broad spectrum of secondhand items. Whether you’re a thrift store owner, operate a consignment shop, or run a pawnshop, understanding NAICS code 459510 is crucial for industry classification, government contracting, and market analysis.
What is NAICS Code 459510?
NAICS code 459510 refers to Used Merchandise Retailers. These establishments primarily focus on retailing used merchandise, offering consumers an affordable and sustainable alternative to new products.
Key Description:
- Retailers primarily engaged in selling used goods.
- Typical merchandise includes clothing, furniture, electronics, and various other secondhand items.
- Common formats include thrift stores, consignment shops, and pawnshops.
Sector Classification: Retail Trade
The Used Merchandise Retailers fall under the broader Retail Trade sector. This sector comprises businesses that sell merchandise for personal or household consumption. NAICS 459510 specifically caters to retail establishments dealing strictly in used merchandise.
Typical Business Types and Activities Under NAICS 459510
Businesses operating under this NAICS code engage in activities such as:
- Thrift Stores: Nonprofit or for-profit organizations selling donated or purchased used clothing and household items.
- Consignment Shops: Retailers that sell secondhand goods on behalf of the original owners, taking a commission from sales.
- Pawnshops: Establishments that offer secured loans to individuals, with the items used as collateral often resold if loans are not repaid.
NAICS Code 459510 Size Standard
To qualify as a small business under NAICS 459510, an establishment must not exceed the size standard of $14 million in average annual receipts. This benchmark is vital for:
- Eligibility in small business government contracts.
- Accessing loans and grants intended for small businesses.
- Strategic business planning and market positioning.
Examples of Businesses That Fall Under NAICS 459510
- Goodwill Industries International – Operates thrift stores selling donated goods.
- Local consignment boutiques specializing in used apparel and accessories.
- Community pawnshops providing loans against secondhand electronics and jewelry.
- Vintage and antique resale shops dealing in used furniture and collectibles.
Frequently Asked Questions (FAQ)
What types of goods are sold under NAICS 459510?
NAICS 459510 businesses sell used merchandise including but not limited to clothing, furniture, electronics, household items, and collectibles.
How is a consignment shop different from a thrift store?
A consignment shop sells items on behalf of the original owner and earns a commission, while thrift stores typically sell donated items and usually operate as nonprofits.
Why is the size standard important for NAICS 459510?
The $14 million size standard determines if a business qualifies as small, affecting eligibility for government contracts and other small business programs.
Can online retailers be classified under NAICS 459510?
Primarily, NAICS 459510 covers physical retail establishments, but online used merchandise retailers may fall under other codes unless they operate a physical location.
How can knowledge of this NAICS code help my business?
Understanding your NAICS code assists in target marketing, securing government contracts, and aligning with industry standards.
Conclusion
NAICS code 459510 - Used Merchandise Retailers is a key classification within the Retail Trade sector, encompassing thrift stores, consignment shops, and pawnshops engaged in selling secondhand goods. With a clear size standard set at $14 million in annual receipts, businesses can identify their eligibility for various programs and contracts. Whether you are starting or expanding a used merchandise business, familiarity with NAICS 459510 is essential for success and growth in this flourishing retail niche.
Optimize your business strategy with a clear understanding of NAICS 459510 and tap into the thriving used merchandise market today!
