Popular for its tourism and agricultural products, different sectors over time have sprawled in the state. Nevada is primarily into producing mining, machinery, printing and publishing, food processing, and electric types of equipment. The state has been long tied to the vice industries. Here’s a complete guide on how to launch a business with profitable business ideas in Nevada with small money.
The state has the majority of its economy based on mining and agriculture. With friendly business laws and lucrative opportunities, Nevada is a top place to start any new business.
Top 21 Small Business Ideas in Nevada, Las Vegas
Find below a list of profitable small business ideas and opportunities in Nevada that can be started with low money.
1. Online App Development Business
You can develop apps from home. Several developers offer services from home like developing custom software, applications, and more.
2. Tour Guide
Tourism in Nevada is big. You can be a tour guide around your area and offer tour guide services to visitors.
3. Babysitting Business
The babysitting business will include offering services for infants and toddlers at the client’s residence.
4. Children’s Book Business
A growing business in the publishing industry, children’s books with illustrated stories can be quite profitable in the state.
5. Cake Shop
You can start a specialty cake shop offering fresh-baked cakes and different bakery items.
6. Online Career Consultant
There are a lot of individuals looking for career-oriented opinions and consultancy online. If you are related to this field, you can tap this market.
7. Barber Shop
You can start a barbershop and offer grooming services in Nevada with trending haircuts, shaves, and specialized styles.
8. Candle Making Business
The candle-making business can be done from home by selling them online and offline channels.
9. Bed & Breakfast
Nevada has millions of travelers visiting the state every year. The bed and breakfast business serves as an alternative to hotels and motels.
10. Start a Blog
Choose a subject and start your own blog from home and update it with regular content. There are many people making a lot of dollars out of blogging in the state of Nevada.
11. Customized Tour Services
You can offer customized tour services to travelers visiting Nevada with different packages.
12. Travel Agency
With so many travelers, starting a travel agency offering different services can be quite profitable in Nevada.
13. Business Consulting Firm
Startups and new businesses often need help on how to give their business a good start with the right resources.
14. Dairy Business
Famous for its dairy products all around the world, you can export different dairy products to other states and countries.
15. Cattle Ranching
A major economic activity in rural Nevada, the business involves agricultural products like hay, alfalfa, dairy products, and vegetables.
16. Toy Making
Manufacturing children’s toys can be successful in the State of Nevada. There is a good demand for toys around the year. It is also a popular inflation-free business.
17. Start a clothing Business
If you have some capital or ability to arrange funds, consider starting a clothing line in Nevada. If you are short of capital, think of dressmaking.
18. Furniture Making
Furniture is one of the best woodworking businesses to start. There is a good demand as well as a profit margin in the furniture-making business.
19. Online Surveys
If you are looking for a good side income opportunity from home without investment, completing online surveys is a good option. Check the list of top high-paying survey sites that actually pay.
20. Fitness Trainer
If you are one who is passionate about fitness, try working as a fitness trainer. If you can market yourself properly, getting clients is not going to be difficult in Nevada.
21. Buy a Franchise in Nevada
The franchise industry is growing in this part of the country like never before. A lot of reputed brands are looking for franchise partners in cities like Las Vegas, Rano, and other major towns and cities in Nevada.
If you don’t want to get into the hassles of starting a business, buying a franchise if run properly can fetch you high returns.
How to Start A Business in Nevada Legally
Follow the 10 steps to legally start a business in Nevada.
Step 1. Choose a Business
The very first step is to select a business idea. Choose a business that has a demand online or local and also fits with your interest. The above-mentioned business ideas specific to the state of Nevada can be a good source for brainstorming in selecting the process of selecting the right business.
Step 2. Create a Business Plan
If you are ready with the business idea, you need to proceed further with a proper strategy. Creating a business plan is important. This will help you to set your benchmarks, targets, and goals you wish to achieve.
Step 3. Financing Your Business In Nevada
Most of these businesses require a very nominal investment. If you wish to start on a larger scale, go through different business financing options. There are special business loans available for small businesses at affordable rates.
Step 4. Naming Your Business
Before you work on the legality of your business, it’s important to decide on a name for your business. Make sure you register your business name and buy an online domain of the same.
Step 5. Registering A Business In Nevada
Form your business entity. File the required documents to register your business as an LLC or corporation with the Nevada Secretary of State’s office. An LLC will offer you added benefits with freedom from legal complications.
Step 5. Business Licences Needed In Nevada
Next up you will need separate state business licenses to operate legally in Nevada. Nevada has different specific city business licenses for each city. For small businesses, you should apply for a business license as a sole proprietor with the Nevada Secretary of State’s office.
Step 6. EIN Number & Tax Filing
Once you complete the legal process, you should soon apply for an EIN. The EIN will confirm how you want to treat your business entity for different tax purposes.
Step 7. Register With Nevada Department Of Taxation
To be legally registered as a business, you have to register your business Nevada Department of Taxation. To sell tangible items, you will need a sales tax permit and a consumer use tax permit for services.
Step 8. Setting Up Business Accounting System
Having a dedicated business bank account will help you simplify the transactions. Choose a reliable business accounting software to make your accounting procedures easy.
Step 9. Business Insurance You Need In Nevada
In Nevada, it’s compulsory for businesses to have worker’s compensation insurance in case there is more than an employee. If you offer services, go for a professional liability insurance policy.
Step 10. Promoting Your Business
Now it’s time to take the word out. Promote your business to help it stand in the market. You can even hire an agency to help you promote your business.
Best Places To Start A Business In Nevada
Choosing the right location is going to determine how your business runs. Here are some of the best places in Nevada to start your business:
- Las Vegas
- Carson City
- North Las Vegas
Industries expected to continue to thrive in Nevada in the coming years include aerospace and defense, clean energy, tourism, back-office support, and call centers, as well as logistics and distribution, including e-commerce. In terms of revenue generation, major sectors are agriculture, manufacturing, mining, and service industries.
Nevada’s service industries, concentrated in the Las Vegas and Reno metropolitan areas, are very, very important to Nevada’s economy.
Tourism is the prime reason for this. Nevada’s community, business, and personal service industry account for about 1/3 of the state’s total gross product. This is a higher percentage than in any other state. Gambling, amusement, and recreational services (dude ranches, fishing resorts, hunting lodges) are the most important sectors.
Nevada is a business-friendly state to start a small business. We hope, this article will inspire beginners to start their own small business in Nevada.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.