NAICS 114210 Quarterly Industry Report
Hunting and Trapping
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 114210Sector: Agriculture, Forestry, Fishing and Hunting (11)Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 114210 provides valuation-focused intelligence for professionals assessing commercial hunting, game preserve, and trapping businesses. Data is sourced from U.S. Additional data is drawn from [Bureau of Labor Statistics[7], U.S. Census Bureau[8].. Fish and Wildlife Service](https://www.fws.gov/) hunting participation surveys, USDA APHIS Wildlife Services[6] program data, and SBA size standards[9] to support business appraisals, acquisition due diligence, lending decisions, and investment analysis for hunting and trapping enterprises.
Industry Definition & Overview
Hunting and Trapping (NAICS 114210) encompasses establishments primarily engaged in commercial hunting, trapping, and operating commercial game preserves and hunting preserves. This classification covers a range of operations from guided hunting outfitter businesses and commercial game bird preserves to fur trapping enterprises and wildlife damage management services. The U.S. Census Bureau[4] classifies these operations separately from recreational hunting (which falls under amusement and recreation) and wildlife management services (NAICS 115210), recognizing the commercial harvesting and game management focus of this industry.
Commercial hunting preserves generate revenue through guided hunting experiences on managed properties stocked with game birds such as pheasant, quail, and chukar, or managed for trophy big game including deer, elk, and exotic species. The U.S. Fish and Wildlife Service[5] tracks national hunting participation, license sales, and wildlife-associated recreation expenditures through its National Survey of Fishing, Hunting, and Wildlife-Associated Recreation. Fur trapping operations harvest beaver, muskrat, coyote, bobcat, and other furbearing species for pelt sales through auction houses, with harvest levels regulated by state wildlife agencies under sustained-yield management programs.
Business valuations for hunting and trapping enterprises center on real estate holdings including managed hunting land, wildlife habitat improvements, lodge and hospitality infrastructure, guide service reputation and client lists, and applicable state permits and licenses. Appraisers must evaluate habitat quality and carrying capacity for target game species, infrastructure investment in food plots, water features, and lodging facilities, and the recurring revenue characteristics of membership-based hunting club models. The USDA Wildlife Services[6] program and state wildlife agency harvest data inform market analysis for commercial wildlife management enterprises.
What's Included in This Industry
- Sector-specific valuation multiples and financial benchmarks for commercial hunting preserves and trapping operations
- Revenue and profitability analysis across guided hunting, game bird preserves, trophy management, and fur trapping segments
- SBA size standard classification and lending threshold data for NAICS 114210
- Comparable transaction data from recent hunting preserve sales, outfitter business transfers, and managed hunting property transactions
- Market analysis covering hunting participation trends, guide service pricing, fur auction values, and hunting preserve membership rates
- Workforce and labor cost benchmarking for hunting guides, gamebird propagation staff, property managers, and hospitality personnel
- Industry risk assessment including hunting participation trends, weather variability, wildlife disease, and regulatory permit requirements
- Regulatory compliance overview covering state hunting preserve licenses, guide permits, game bird propagation regulations, and trapping seasons
- Capital expenditure profiles for lodge construction, habitat improvements, game bird rearing facilities, and property infrastructure
- Production metrics including hunter days per season, bird release rates, harvest success ratios, and revenue per guided hunt benchmarks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Agriculture, Forestry, Fishing and Hunting | 11 |
| Subsector | Fishing, Hunting and Trapping | 114 |
| Industry Group | Hunting and Trapping | 1142 |
| NAICS Industry | Hunting and Trapping | 11421 |
| National Industry | Hunting and Trapping | 114210 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 713990 | All Other Amusement and Recreation Industries | Amusement and recreation establishments including recreational hunting guides and outdoor adventure operations that share client bases with commercial hunting preserves |
| 115210 | Support Activities for Animal Production | Support activities for animal production including wildlife management and habitat consulting services that complement commercial hunting preserve management operations |
| 112930 | Fur-Bearing Animal and Rabbit Production | Fur-bearing animal and rabbit production operations raising mink, fox, and other furbearers that compete with wild-trapped pelts in fur auction markets |
| 424590 | Other Farm Product Raw Material Merchant Wholesalers | Other farm product raw material merchant wholesalers handling fur pelts, game meat, and wildlife products purchased from commercial hunting and trapping operations |
| 721199 | All Other Traveler Accommodation | All other traveler accommodation providers including hunting lodges and outfitter camps that combine lodging services with guided hunting experiences for clients |
| 332994 | Small Arms, Ordnance, and Ordnance Accessories Manufacturing | Small arms, ordnance, and accessories manufacturing operations producing firearms, ammunition, and hunting equipment used by commercial hunting preserve clients |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Texas | 20.2% | 85 |
| 2 | Georgia | 8.3% | 35 |
| 3 | Florida | 7.6% | 32 |
| 4 | California | 5.0% | 21 |
| 5 | South Carolina | 4.0% | 17 |
| 6 | Michigan | 4.0% | 17 |
| 7 | Wyoming | 3.3% | 14 |
| 8 | Minnesota | 3.1% | 13 |
| 9 | Maryland | 2.9% | 12 |
| 10 | South Dakota | 2.6% | 11 |
% Of Establishments
0%
20%
Source: County Business Patterns, U.S. Census Bureau[2]
SBA Lending Summary
40
Total SBA Loans
$6.0M
Total Loan Volume
$151K
Average Loan Size
10 yrs
Average Loan Term
11.55%
Average Interest Rate
88
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[3]
Key Insight: The SBA[10] classifies Hunting and Trapping (NAICS 114210) with a size standard of $7.5 million in average annual receipts. Most commercial hunting preserves and trapping operations are small enterprises that qualify for SBA-backed lending[11], government contracting preferences, and USDA rural development programs supporting agricultural and wildlife-based businesses. Eligible businesses can access SBA 7(a) loans[12] for working capital, equipment, and acquisition financing, while 504 loans[13] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | BayFirst National Bank | 8 | $3.9M | $491K |
| 2 | Readycap Lending, LLC | 8 | $800K | $100K |
| 2 | Zions Bank, A Division of | 8 | $800K | $100K |
| 4 | The Huntington National Bank | 8 | $400K | $50K |
| 5 | Wells Fargo Bank National Association | 8 | $120K | $15K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for hunting and trapping?
Hunting and Trapping is classified under NAICS code 114210, covering commercial hunting, trapping, and the operation of commercial game preserves per the U.S. Census Bureau[4] industry classification system.
What is the SBA size standard for hunting and trapping?
The SBA[10] sets the size standard for NAICS 114210 at $7.5 million in average annual receipts, qualifying eligible hunting preserves and trapping operations for small business lending programs.
What types of businesses are included in NAICS 114210?
This classification covers commercial hunting guides and outfitters, game bird shooting preserves, managed trophy hunting operations, commercial fur trapping enterprises, and wildlife damage management services per U.S. Census Bureau[4] NAICS definitions.
How are commercial hunting preserves valued?
Valuations focus on real estate and habitat quality, lodge and infrastructure improvements, guide service reputation, client membership lists, species management programs, and recurring revenue models per U.S. Fish and Wildlife Service[5] hunting participation trend data.
What drives revenue for hunting preserves?
Primary revenue streams include guided hunt fees, annual membership dues, bird release charges, lodge and hospitality income, corporate event hosting, and supplemental revenue from hunting dog training and sporting clays operations.
How large is the U.S. hunting industry?
The U.S. Fish and Wildlife Service[5] National Survey tracks millions of hunters spending billions annually on trips, equipment, and licenses, with commercial hunting preserves and outfitters capturing a growing share of total hunting expenditures.
What regulations apply to commercial hunting preserves?
State wildlife agencies license commercial hunting preserves with requirements for game bird propagation permits, preserve acreage minimums, hunting season parameters, and bag reporting, while the U.S. Fish and Wildlife Service[5] regulates migratory bird and federal wildlife compliance.
What risks affect hunting and trapping businesses?
Major risks include declining hunting participation among younger demographics, weather impacts on wildlife populations, avian disease outbreaks affecting game bird stocks, liability exposure from guided hunting activities, and fur market price volatility.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, County Business Patterns census.gov
- [3]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [4]U.S. Census Bureau census.gov
- [5]U.S. Fish and Wildlife Service fws.gov
- [6]USDA Wildlife Services aphis.usda.gov
- [7]U.S. Additional data is drawn from [Bureau of Labor Statistics bls.gov
- [8]U.S. Census Bureau census.gov
- [9]SBA size standards sba.gov
- [10]SBA sba.gov
- [11]SBA-backed lending sba.gov
- [12]SBA 7(a) loans sba.gov
- [13]504 loans sba.gov
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