NAICS 423910 Quarterly Industry Report
Sporting and Recreational Goods and Supplies Merchant Wholesalers
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 423910Sector: Wholesale Trade (42)Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 423910 draws on verified data from the U.S. Census Bureau[5], Bureau of Labor Statistics[7], and Small Business Administration[6] to profile the sporting and recreational goods wholesale sector. Our research team analyzes distributor trade patterns and recreational spending data to provide accurate market intelligence for valuation purposes. The report covers SBA size standards, related NAICS classifications, and regulatory requirements affecting sporting goods distribution. Fair Market Value updates this NAICS 423910 profile quarterly to reflect new Census releases and industry developments.
Industry Snapshot
Key metrics for the sporting and recreational goods and supplies merchant wholesalers industry.
Industry Definition & Overview
Sporting and Recreational Goods and Supplies Merchant Wholesalers (NAICS 423910) encompasses establishments primarily engaged in the merchant wholesale distribution of sporting goods, recreational equipment, and related accessories. Product categories include athletic equipment, exercise machines, fishing tackle, hunting supplies, camping gear, billiard and pool supplies, sporting firearms and ammunition, and marine pleasure craft with associated equipment. This classification covers the wholesale distribution channel between manufacturers and the retail stores, pro shops, team dealers, and institutional buyers who sell or provide these products to consumers.
Distribution patterns in this industry reflect strong seasonal cycles tied to outdoor recreation calendars and sporting seasons. Winter sports equipment orders peak in late summer, while fishing and marine products see ordering activity accelerate in early spring. Wholesalers manage complex assortments spanning thousands of SKUs across dozens of sport categories, requiring sophisticated inventory management systems. According to the U.S. Census Bureau[5], establishments must take title to merchandise to qualify as merchant wholesalers, distinguishing them from manufacturers' sales branches and agents.
The SBA[6] sets the size standard at 100 employees for this industry. Roughly 2,665 establishments operate nationwide, employing about 63,505 workers. Firearms and ammunition distribution requires Federal Firearms Licenses (FFLs) and compliance with Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) regulations, adding significant compliance overhead for that product segment. Direct-to-consumer sales by major brands have pressured traditional wholesale margins, pushing distributors to add value through services like drop-shipping, custom packaging, and dealer training programs that help independent retailers compete against large sporting goods chains.
What's Included in This Industry
- Wholesale distribution of athletic equipment and team sports gear
- Distribution of exercise machines and fitness equipment
- Wholesale of fishing tackle and supplies
- Distribution of hunting equipment and outdoor recreation gear
- Wholesale of sporting firearms and ammunition
- Distribution of marine pleasure craft and boating accessories
- Wholesale of camping equipment and outdoor supplies
- Distribution of billiard tables, pool supplies, and game room equipment
- Wholesale of golf equipment and accessories
- Distribution of winter sports equipment including skis and snowboards
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Wholesale Trade | 42 |
| Subsector | Merchant Wholesalers, Durable Goods | 423 |
| Industry Group | Miscellaneous Durable Goods Merchant Wholesalers | 4239 |
| NAICS Industry | Sporting and Recreational Goods and Supplies Merchant Wholesalers | 42391 |
| National Industry | Sporting and Recreational Goods and Supplies Merchant Wholesalers | 423910 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 423860 | Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers | Covers transportation equipment wholesalers handling motorized golf carts, which are excluded from sporting goods distribution despite their golf course association |
| 423920 | Toy and Hobby Goods and Supplies Merchant Wholesalers | Distributes toy and hobby goods through wholesale channels, sharing retail customer relationships and seasonal demand patterns with sporting goods wholesalers |
| 423940 | Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers | Handles jewelry and watch wholesale distribution, sometimes overlapping in outdoor recreation accessories like sport watches and GPS devices |
| 423210 | Furniture Merchant Wholesalers | Distributes furniture through wholesale channels, competing in the home fitness equipment category where exercise machines blend with home furnishing purchases |
| 423490 | Other Professional Equipment and Supplies Merchant Wholesalers | Covers other professional equipment wholesalers, sometimes handling commercial recreation and fitness facility equipment outside consumer sporting goods channels |
| 339920 | Sporting and Athletic Goods Manufacturing | Manufactures sporting and athletic goods that these wholesalers distribute, representing the primary upstream supply chain for team sports and athletic equipment |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 17.1% | 927 |
| 2 | Florida | 11.1% | 601 |
| 3 | Texas | 7.0% | 379 |
| 4 | New York | 4.4% | 240 |
| 5 | Washington | 3.4% | 182 |
| 6 | Colorado | 3.3% | 176 |
| 7 | Georgia | 3.2% | 171 |
| 8 | Illinois | 3.1% | 169 |
| 9 | Ohio | 2.9% | 156 |
| 10 | New Jersey | 2.7% | 146 |
% Of Establishments
0%
17%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
912
Total SBA Loans
$384.9M
Total Loan Volume
$422K
Average Loan Size
10 yrs
Average Loan Term
10.57%
Average Interest Rate
6,056
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[6] classifies NAICS 423910 under merchant wholesale trade with a size standard of 100 employees. Businesses at or below this threshold qualify as small for federal contracting preferences and SBA loan programs. Sporting goods wholesalers can access SBA 7(a) loans[8] for seasonal inventory financing and warehouse operations. Distributors expanding facilities or purchasing showroom space may qualify for 504 loans[9]. Firearms distributors must maintain federal licensing compliance alongside SBA program requirements, adding regulatory complexity to their financing activities.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | First Commonwealth Bank | 8 | $40.0M | $5.0M |
| 2 | Bank of America, National Association | 16 | $39.1M | $2.4M |
| 3 | Citizens Bank, National Association | 16 | $35.0M | $2.2M |
| 4 | First Horizon Bank | 16 | $24.3M | $1.5M |
| 5 | South Story Bank & Trust | 8 | $24.0M | $3.0M |
Frequently Asked Questions
Common questions about this industry.
What types of businesses fall under NAICS 423910?
NAICS 423910 includes merchant wholesalers distributing athletic equipment, exercise machines, fishing tackle, hunting supplies, sporting firearms, ammunition, marine pleasure craft, camping gear, billiard supplies, and other recreational products. These firms buy from manufacturers and resell to retailers, team dealers, and institutions. Source: U.S. Census Bureau[5]
How is the sporting goods wholesale industry structured?
The industry includes broad-line distributors carrying multiple sport categories and specialists focused on specific segments like firearms, marine products, or fitness equipment. Distribution involves warehouse operations, seasonal inventory management, and increasingly direct-ship capabilities. Trade shows like SHOT Show and Outdoor Retailer serve as major ordering events.
What is the SBA size standard for NAICS 423910?
The SBA sets the size standard at 100 employees for sporting and recreational goods merchant wholesalers. Businesses at or below this employee count qualify as small for federal contracting preferences and SBA financing programs. Source: SBA Size Standards[6]
What NAICS codes are related to sporting goods wholesaling?
Related codes include 423860 (transportation equipment wholesalers handling golf carts), 423920 (toy and hobby goods wholesalers), 339920 (sporting goods manufacturing), and 336612 (boat building). Athletic apparel falls under Industry Group 4243 rather than this code. Source: Census NAICS[5]
What industries interact most with sporting goods wholesalers?
Primary customers include sporting goods retail chains, independent pro shops, team equipment dealers, schools, recreation departments, and fitness centers. Upstream partners include domestic and imported equipment manufacturers. Marine pleasure craft distribution connects with marinas, boat dealerships, and waterfront recreation operators.
What activities are included in NAICS 423910?
Included activities cover wholesale distribution of team sports equipment, individual athletic gear, exercise machines, firearms and ammunition, fishing and hunting supplies, marine pleasure craft, camping equipment, billiard supplies, golf equipment, and winter sports gear. Parts and accessories for these product lines are also covered. Source: Census Bureau[5]
Can sporting goods wholesalers get SBA loans?
Yes, small businesses under NAICS 423910 can access SBA 7(a) loans for seasonal inventory and working capital, 504 loans for warehouse facilities, and microloans for smaller capital needs. Firearms distributors must maintain ATF compliance alongside SBA requirements. Source: SBA Loan Programs[10]
Where are sporting goods wholesalers concentrated geographically?
Sporting goods wholesalers distribute nationwide, with concentrations in states supporting major outdoor recreation markets. Firearms distributors cluster in states with favorable regulatory environments. Marine craft distribution concentrates along coastal and Great Lakes regions. Major distribution hubs include Texas, California, Florida, and the upper Midwest. Source: BLS QCEW[11]
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, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]SBA sba.gov
- [7]Bureau of Labor Statistics bls.gov
- [8]SBA 7(a) loans sba.gov
- [9]504 loans sba.gov
- [10]SBA Loan Programs sba.gov
- [11]BLS QCEW bls.gov
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