5322 - Consumer Goods Rental
If you're exploring opportunities in the rental and leasing services industry, understanding NAICS code 5322 - Consumer Goods Rental is essential. This classification covers businesses that rent a wide array of consumer goods, from electronics to recreational equipment, providing consumers with flexible access to products without the commitment of ownership. Whether you're a small business owner, government contractor, or market analyst, knowing the specifics of NAICS 5322 can help you navigate this growing sector effectively.
What is NAICS Code 5322 - Consumer Goods Rental?
NAICS code 5322 defines an industry comprised of establishments primarily engaged in renting consumer goods such as electronics, appliances, and recreational equipment. These businesses offer rental services to consumers for both short-term and long-term use, allowing for convenient and cost-effective access to products that might otherwise require significant investment.
Sector Overview
- Sector: Rental and Leasing Services
- Industry: Consumer Goods Rental
- Primary Activities: Renting consumer electronics, household appliances, party equipment, and recreational goods.
Typical Business Activities under NAICS 5322
Businesses classified under NAICS 5322 engage in a variety of rental services, including but not limited to:
- Video and DVD Rental Stores
- Party Equipment Rental Services (e.g., tables, chairs, tents)
- Consumer Electronics Rental Services (e.g., cameras, projectors, sound systems)
- Appliance Rental Services (e.g., refrigerators, washers, and dryers)
- Recreational Equipment Rentals (e.g., bikes, camping gear)
These activities provide consumers with the option to rent products for events, temporary use, or testing purposes.
Size Standards for NAICS Code 5322
Understanding size standards is crucial for businesses aiming for government contracts or loans under NAICS 5322. The Small Business Administration (SBA) typically defines size standards based on employee count or annual revenue.
| NAICS Code | Industry Title | Size Standard |
|---|---|---|
| 5322 | Consumer Goods Rental | $8.0 million average annual receipts (varies by sub-industry) |
Note: Size standards may vary slightly depending on specific sub-industries within NAICS 5322. Always refer to the latest SBA guidelines for precise thresholds.
Examples of Businesses Under NAICS 5322
Here are some businesses you’ll commonly find classified under NAICS code 5322:
- Blockbuster Video (historical example): Video and DVD rental store
- Party Plus LLC: Rental service offering tents, chairs, and tables for events
- TechRentals Inc.: Provider of consumer electronics such as cameras and audio equipment on a rental basis
- ApplianceAway: Home appliance rental service catering to temporary housing needs
These businesses serve various customer segments, including individual consumers, event planners, and corporate clients.
Detailed NAICS Code 5322 Table
| NAICS Code | Title | Description | Sector | Examples of Business Types | Size Standard (SBA) |
|---|---|---|---|---|---|
| 5322 | Consumer Goods Rental | Establishments primarily engaged in renting consumer goods such as electronics, appliances, and recreational equipment for short- or long-term use. | Rental and Leasing Services | Video/DVD rental stores, party equipment rental, consumer electronics rental | $8.0 million average annual receipts |
Frequently Asked Questions (FAQ) about NAICS Code 5322
What kinds of products are included in Consumer Goods Rental?
The industry includes rental of consumer electronics (like TVs and cameras), household appliances (such as refrigerators), party and event equipment (tables, chairs, tents), and recreational gear (bicycles, camping equipment).
Who uses NAICS code 5322?
Businesses offering rental services for consumer products, consumers needing temporary use of items, event organizers, and government agencies looking for service providers in the rental sector.
How does NAICS code 5322 impact government contracting?
This classification helps government agencies identify qualified vendors in the consumer goods rental space. It also determines eligibility for small business programs and contracting preferences.
Can businesses under NAICS 5322 qualify as small businesses?
Yes, businesses with average annual revenues at or below $8 million generally qualify as small under SBA size standards, although variations exist.
How do I find more information about NAICS code 5322?
The official NAICS website and SBA resources provide detailed information regarding classification criteria, size standards, and guidance for businesses.
Understanding NAICS code 5322 - Consumer Goods Rental is vital for businesses engaged in or exploring the rental service industry. With the flexibility rental provides, this sector continues to grow, offering valuable opportunities in both private and public markets. Stay informed, ensure proper classification, and leverage the potential within the consumer goods rental marketplace.
