Starting a Small Business in Nevada

Welcome to the Small Business Startup Nevada Franchise Directory! Here, you’ll find everything you need to begin your journey to business ownership in The Silver State. If you’re considering starting a small business in Nevada, read on for an overview of the state economy. Afterward, explore business opportunities and franchises for sale with our Nevada Franchise Search Tool.

Nevada Industry Trends

If an industry is performing well, business opportunities within it are often worth exploring. Begin your market research with this list of the Nevada economy’s most significant industries in 2022. Afterward, take your research one step further by investigating niche markets and B2B opportunities within one of these top revenue-generating industries. 

1. Tourism (Revenue: $317.6 billion)
2. Casino Hotels (Revenue: $28.9 billion)
3. New Car Dealers (Revenue: $11.4 billion)
4. Hospitals (Revenue: $10.6 billion)
5. Lotteries & Native American Casinos (Revenue: $9.6 billion)
6. Gasoline & Petroleum Bulk Stations (Revenue: $8.0 billion)
7. Supermarkets & Grocery Stores (Revenue: $7.7 billion)
8. Wine & Spirits Wholesaling (Revenue: $7.7 billion)
9. Gold & Silver Ore Mining (Revenue: $7.3 billion)
10. Health & Medical Insurance (Revenue: $7.0 billion)

Nevada Sector Statistics

When starting a small business in Nevada, gross domestic product (GDP) is another tool entrepreneurs can use to make investment decisions. Generally, a steadily rising GDP means that people are spending more money and creating more jobs.

The three sectors contributing most to Nevada’s GDP in 2022 were Real Estate, Rentals & Leasing; Accommodation & Food Services; and Retail Trade. Combined, these three sectors represented 34.0% of the state’s GDP. In 2022, the sectors that contributed most to Nevada’s GDP included:

1. Real Estate, Rentals & Leasing (Value: $22.9 billion* | Annual growth: 1.8%)
2. Accommodation & Food Services (Value: $13.8 billion* | Annual growth: -2.1%)
3. Retail Trade (Value: $12.5 billion* | Annual growth: 3.2%)
4. Healthcare & Social Assistance (Value: $10.8 billion* | Annual growth: 3.5%)
5. Construction (Value: $10.4 billion* | Annual growth: 3.7%)
6. Manufacturing (Value: $9.7 billion* | Annual growth: 9.1%)
7. Finance & Insurance (Value: $9.5 billion* | Annual growth: 7.8%)
8. Professional, Scientific & Technical Services (Value: $9.1 billion* | Annual growth: 6.5%)
9. Information (Value: $7.8 billion* | Annual growth: 13.1%)
10. Wholesale Trade (Value: $7.4 billion* | Annual growth: 3.2%)
11. Administration, Business Support & Waste Management Services (Value: $5.6 billion* | Annual growth: 4.8%)
12. Management of Companies & Enterprises (Value: $5.4 billion* | Annual growth: -13.8%)
13. Transportation & Warehousing (Value: $5.0 billion* | Annual growth: -4.0%)
14. Mining (Value: $4.8 billion* | Annual growth: 2.3%)
15. Arts, Entertainment & Recreation (Value: $4.1 billion* | Annual growth: 5.0%)

*Approximately

Nevada Population Statistics

A growing population often means greater demand and a steady flow of new customers. If you are undecided about the location of your new business, start by investigating population statistics. Afterward, take your research a step further by exploring population demographics. Doing so lets you decide whether a location is a good match for your target market. 

In 2022, counties with the highest populations in Nevada included:

1. Clark (Population: 2.4 million | Annual growth rate*: 1.9%)
2. Washoe (Population: 489,500 | Annual growth rate*: 1.3%)
3. Lyon (Population: 60,800 | Annual growth rate*: 2.1%)
4. Carson City (Population: 56,700 | Annual growth rate*: 0.6%)
5. Elko (Population: 53,400 | Annual growth rate*: 0.4%)
6. Nye (Population: 50,600 | Annual growth rate*: 2.6%)
7. Douglas (Population: 49,600 | Annual growth rate*: 0.5%)
8. Churchill (Population: 26,100 | Annual growth rate*: 1.4%)
9. Humboldt (Population: 17,100 | Annual growth rate*: 0.3%)
10. White Pine (Population: 9,400 | Annual growth rate*: -0.5%)
11. Pershing (Population: 6,500 | Annual growth rate*: -0.4%)
12. Lander (Population: 5,500 | Annual growth rate*: -0.4%)
13. Lincoln (Population: 5,100 | Annual growth rate*: -0.3%)
14. Mineral (Population: 4,500 | Annual growth rate*: 0.1%)
15. Storey (Population: 4,300 | Annual growth rate*: 1.4%)
16. Eureka (Population: 2,100 | Annual growth rate*: 0.7%)
17. Esmeralda (Population: 920 | Annual growth rate*: 1.9%)

*From 2017 to 2022.

Nevada Business Opportunities

We hope this snapshot of the Nevada economy helps as you investigate business opportunities in The Silver State! Starting a small business in Nevada is an exciting journey, and we know you’re probably eager to get started. But remember, take your time to explore all your options. While you’ll always have the “opportunity” to start your own business, sometimes, it makes more sense to invest in an opportunity that already exists. These are called “Franchise Opportunities,” and they offer several benefits, including the recognition of a well-established brand and a proven track record of success. 

To learn more, start by exploring franchise opportunities in Nevada below!