Continued growth in the Las Vegas Valley makes the region an increasingly attractive option for businesses focused on expansion.
With Clark County's population now estimated at more than 2 million and with rapid growth in the South and West, the opportunity to move into untapped or underserved markets has a wide range of businesses clamoring to introduce their brands here.
Franchise opportunities, which share a brand and central management but in which the individual business or territory is privately owned, seem particularly popular in the valley.
So it's not surprising that more than 50 such businesses, offering opportunities in everything from laser teeth whitening systems to vending machines, recently took part in the Las Vegas Franchise & Business Opportunities Expo at Cashman Center.
"Las Vegas is a very hot market for franchises," show manager Ken Muir said.
Muir's company, National Event Management, hosts 15 events annually in the United States and 12 in Canada.
"We focus mostly on new and up-and-coming businesses," Muir said. "The large established companies don't need to do shows."
Sharalynn Ramm, however, has used franchise expos to introduce her RammTLC Turning Leg Caddy to a national audience.
The Turning Leg Caddy is a steerable, patient-powered knee scooter, designed to provide mobility to people who have suffered an injury that prevents them from putting weight on one leg.
The device, which resembles a four-wheeled scooter, allows users to kneel on a cushioned platform with their injured limb and push themselves along with their good leg. The vehicle is designed to alleviate the stress on the upper body associated with using crutches and allows users increased flexibility.
Ramm said sales of the device were significantly boosted after former Secretary of State Colin Powell was photographed using the device while recovering from a knee injury. Ramm obtained permission to use a picture of Powell on the device and prominently features it in much of the company's advertising.
"Some of my dealers are people who have had an injury and used the device themselves," Ramm said.
Ramm started out distributing a similar product, but felt she could build a better mousetrap and struck out on her own. After developing a prototype, she found an overseas company to build it and in less than two years has more than 600 dealers nationwide.
The relatively low cost of starting a business (about $13,000, which includes 10 scooters) makes it attractive to a wide range of investors.
"We have stand-alone stores, but my heart is with the people wanting to make some extra income out of the house," Ramm said.
Business owners can sell the devices or rent them for short-term use.
There were also business opportunities for those looking for a more substantial investment.
Sport Clips Haircuts, the sports themed haircutter for men, offers franchise opportunities with an estimated initial investment of $127,000 to $245,000 for a single store. The price includes the franchise fee, as well as opening inventory, fixtures, signage and other costs associated with opening a full-service retail location.
There were also opportunities to invest in automated teller machines, energy drinks, investment services and any number of other businesses.
The event had a $10 a day admission fee, which Muir said helps keep out curiosity-seekers and allow vendors to focus on serious investors.
Phillip Reineck of Las Vegas said he is always looking for new investment opportunities and welcomed the chance to see so many presentations in one place.
"You never know when something might jump out at you," Reineck said.
Reineck is the chief executive of locally based Think Big Balloons and Promotions, which provides giant inflatables, balloons, pennants, tents, and other products to customers throughout the country. He said he was looking at franchises that could support cross-promotions or provide networking opportunities.
The expo included seminars to help potential investors evaluate franchise opportunities and protect assets.
Muir said it's hard to compare how many business leads the expo generates in a particular market, but that the interest in Las Vegas is fueled by more than just the population increase.
"There is an entrepreneurial spirit here that is widely recognized in the business community nationwide," Muir said. "There are also a lot of retirees here who are looking to stay active, and franchises are a great way to do that."
He estimated about 1,600 people attended the two-day event.
This is the fourth year the event has taken place at Cashman Center, and Muir said organizers will continue to come back as long as there is interest in the marketplace. He said the group chose Cashman Center because it was more attractive and convenient to locals, who are the focus of the event, than a Strip location.
Mark Hansel covers retail and real estate for In Business Las Vegas and its sister publication, the Las Vegas Sun. He can be reached at 259-4069 or at hansel@lasvegassun.com.