Niche ideas prompt new ventures

Las Vegas residents may be recovering from a down economy, but that hasn't slowed interest in opening businesses, especially downtown. Entrepreneurs of all ages and experience are working to make Las Vegas a hub for small ventures.

One of these entrepreneurs is Nicole Sligar, owner of music marketing company Shoestring Promotions, who is looking to start a different type of venture. Sligar is in the process of opening an organic grocery store downtown.

"I volunteer for First Friday, and I kept hearing from people there that we need a grocery store downtown," Sligar said. "That's what made me decide to open a grocery store in the Arts District."

Sligar doesn't have a set location for her future store, but she does have a business plan. The entrepreneur hopes to operate part of the store as a deli, providing healthy lunch options for those who work nearby and filling the need for a grocery store in the area.

Although she has owned a business for two decades, Sligar is facing challenges in her new venture.

"It's a new area for me," Sligar said. "I've had a business for 20 years, so I should know how to do this, but I don't know how to run a grocery store. I just ask questions to anyone who has anything to do with grocery stores and look at a lot of business plans. I find that very helpful."

Electric Lemonade boutique owners Courtney and Kinsey Peters know a thing or two about writing a business plan. The sisters spent more than a year discussing and putting the finishing touches on their plan for the vintage shop, which opened February in the Arts District. Courtney Peters said establishing a plan is among the most important aspects in opening a small business.

"If you're going to open a small business, be very prepared," Peters said. "Don't open a business if you don't write a business plan and outline every step."

Peters said being proactive and innovative is what allowed the sisters to be successful in just a few months of Electric Lemonade being open. Taking the risk of opening a store in the Arts District where some businesses get the most foot traffic solely on First Fridays and weekends is something the young entrepreneurs are aware of and hope to see change as downtown grows.

But the Peters sisters aren't the only young entrepreneurs taking risks and hoping to make an impact on downtown Las Vegas. A group of students at the University of Nevada, Las Vegas are working to make an impact throughout the valley.

Morgan Adams, an international business major at UNLV, founded Young Entrepreneurs of Southern Nevada, or YES Nevada, designed to help students and community members with interests in entrepreneurship. The organization, established at the start of the spring semester, meets weekly to discuss tips ranging from writing a business plan to creating marketing strategies. Club members also host public events and bring in guest speakers, such as Zappos CEO Tony Hsieh, who visited the campus on behalf of YES Nevada in April.

"(Hsieh) is something very new and very different in the entrepreneurial world," Adams said. "His priority isn't the bottom line. It's people, and it's a really great trend I hope to continue."

Adams started YES Nevada after running her own business on campus selling boba tea near the library. With little experience in operating a business, she decided to start an entrepreneurs group on campus. Since then, Adams said through YES Nevada members, she has learned more about entrepreneurship than she initially anticipated.

"In the beginning, I had no idea what I was doing (with my business)," Adams said. "I've definitely learned that you need a very strong core group of people to work well. They need to be diverse and motivated, and it's been a learning experience for me on how to motivate others."

Adams said those interested in joining YES Nevada don't have to be UNLV students. The only requirements, she said, are to be younger than 40 and "just have an idea."

In addition to attracting people who are looking to start their own ventures, Adams wants to bring in entrepreneurs who already have a taste of success in their respective businesses.

"It's really important for us to connect our students to the community," Adams said. "It's good to meet other students and like-minded people, but we want them to meet people doing what they want to do."

Part of these connections between the young and the accomplished entrepreneurs includes social networking and establishing an online presence. Sligar said since opening Shoestring Promotions, her income has decreased by 50 percent because of the free marketing strategies behind social media. It's something she's taking into consideration as she approaches new ways in marketing her future organic grocery store.

Peters said staying active on social media platforms such as Facebook have contributed to Electric Lemonade's success and encourages young entrepreneurs to factor a social media marketing strategy into their business plans, especially in the valley.

"I think people shouldn't be so scared (to start a business)," Peters said. "Be prepared, and follow through with your business plan."

Contact Paradise/Downtown View reporter Lisa Carter at lcarter@viewnews.com or 383-4686.