Jobs and real estate. Two great tastes that …
Well, you know how it ends.
The Las Vegas housing market continues to regain its foothold and is in fact, healthier than it’s been in years.
Inventory remains a concern, as it does in markets almost around the country.
However, one thing always helps further incentivize a real estate market: jobs.
(Besides The Strip?)
Apparently, they’re coming from franchising.
Nevada ranks third in the nation for franchised businesses, according to a report in local paper, The Las Vegas Sun.
The advantages are relatively obvious. Las Vegas has a tremendous array of diversity, both by culture and age.
This means that aspiring business owners can almost pick and choose their customer base.
Everything from dry cleaning to personnel recruiting to vending machines has a market in Las Vegas. And where ever there’s a market, there’s a job.
It’s no secret that The Strip is our state’s primary economic engine, generating jobs by the busload.
However, it’s not every Nevadan’s first choice. This is a state built on personal enterprise, on risk-taking and chances. That is half the reason, we believe, franchising does so well in the Silver State.
According to The Sun, hospitality recruiting franchise Patrice & Associates has an array of jobs available in the Vegas market. It’s also a franchise opportunity.
While there’s no shortage of economic stimulus making its way to the Las Vegas market (like two professional sports franchises), it’s good to know that aspiring Valley residents from around the country have opportunities to become their own boss.
The Sun story reported the economic impact of local franchises, stating, “Franchises in Nevada last year topped $3.1 billion in payroll with an economic output of $7.4 billion. About 6,000 Nevada franchises provided 73,900 jobs — while Southern Nevada franchises had more than $2.9 billion in payroll and provided 43,000 local jobs.”
Another reason for franchise success in Las Vegas is our visitor demographic.
People from every corner of the country (and world) are visiting our city every day, and not all of them are into five-star resort dining.
It’s good for Las Vegas to have restaurants and stores that people from Oklahoma, New York State, Maine, and Washington can feel comfortable visiting. It brings them a feeling of being home, even when they’re in a place that’s so far from it.