The Standard Industrial Classification (SIC) code for waterparks is 7996, which falls under the broader category of Amusement Parks.
Waterparks are considered a specific type of establishment within the larger classification of amusement parks, which encompasses a variety of recreational facilities offering entertainment and attractions. The SIC system groups businesses with similar economic activities, ensuring a standardized way to classify and analyze industries.
Understanding SIC Code 7996: Amusement Parks
SIC code 7996 is designated for establishments primarily engaged in operating amusement parks or rides, circuses, carnivals, and fairs. These businesses typically offer a range of entertainment options, often involving admission fees.
Key characteristics of businesses classified under SIC 7996 include:
- Service-Oriented: These establishments provide recreational services to the public.
- Diverse Attractions: They may feature mechanical rides, shows, games, and other entertainment forms.
- Seasonal or Year-Round Operation: While many are seasonal, some, like indoor waterparks, operate year-round.
This classification is part of Division I - Services within the US SIC hierarchy, reflecting the nature of these businesses as service providers.
Scope of Amusement Parks (SIC 7996)
SIC code 7996 covers a wide array of entertainment venues, including but not limited to:
- Waterparks: Facilities primarily featuring water rides, slides, and pools.
- Theme Parks: Large recreational areas with various attractions, often centered around a specific theme.
- Amusement Piers: Recreational facilities located on or adjacent to a pier, offering rides and games.
- Carnivals and Circuses: Traveling entertainment shows with rides, games, and performances.
- Fairgrounds: Permanent or temporary sites hosting fairs, often including amusement rides.
For further details on this classification, you can refer to the US SIC Code 7996 Amusement Parks breakdown.
SIC Code Summary for Waterparks
To provide a clear overview, here's the relevant SIC code information for waterparks:
| SIC Code | Description | Division |
|---|---|---|
| 7996 | Amusement Parks | Services |
Why SIC Codes Matter
Standard Industrial Classification codes are crucial for various purposes, providing a uniform way to categorize and analyze industries.
Some key applications of SIC codes include:
- Business Analysis: Used by researchers, economists, and government agencies to study industry trends, economic output, and employment.
- Market Research: Businesses use SIC codes to identify target markets, analyze competitors, and understand industry structure.
- Regulatory Compliance: Government agencies use SIC codes for statistical reporting, tax purposes, and regulatory oversight.
- Lending and Insurance: Financial institutions and insurance companies often use SIC codes to assess risk and determine eligibility for loans and policies.
- Marketing and Sales: Sales teams can use SIC codes to find and target specific types of businesses for their products or services.
Understanding the SIC code for waterparks helps in accurately classifying these unique recreational businesses within the broader economic landscape.
