Editor's note: Este artículo está traducido al español.
When Sagebrush Lawyers was established in 2018, its founders did what managing partner Trent Richards called “the business version of couch surfing,” meaning they borrowed office space or worked from home and on their laptops.
Within about a year, however, they heard about Launchpad, a business incubator and accelerator powered by the Henderson Chamber of Commerce Foundation that provides furnished offices for entrepreneurs at low rent. A step further, a then-available USAA-funded grant allowed Richards, a veteran business owner, a year in the space for free.
“We just had a great time there,” Richards said. “It was a fantastic experience. And then, finally, after six years of being there, it was time to go out and get our own … big kid office.”
Sagebrush Lawyers recently received the Nevada State Bank Launchpad Legacy Award at the Henderson Chamber of Commerce Foundation’s inaugural Leadership & Legacy Awards.
“I was shocked, honestly,” Richards said of the recognition. “We did not expect that. It feels really great to be acknowledged for that success. But I can tell you, there were a lot of other tenants we saw down there, and most of them were very successful, too … I don’t think we deserve it any more than every other tenant we’ve seen down there. Everybody was fantastic.”
Scott Muelrath, president and CEO of the Henderson Chamber of Commerce, said Launchpad supports the entrepreneurial and startup community and is the longest-running business incubator in the state.
Launchpad provides short-term leases renewed on just a six-month basis for private office space, fully equipped with furniture, utilities and Wi-Fi. A low rental fee is meant to support someone starting up and launching their own business — hence the incubator’s name, Muelrath quipped.
“The intent is that they move out when they’re ready to hire employees and reestablish somewhere in the surrounding business community to continue to grow their business,” Muelrath said. “So ideally, someone might be a launchpad tenant for two to three years.”
Select grants are also available for businesses that are minority-owned, women-owned or veteran-owned to at least partially cover the rental fee, he added.
“It helps them get off the ground and requires them to put a little skin in the game, as far as some sort of a rent,” he said. “The idea is they grow the business, grow their profits and ultimately pay the rent all on their own.”
The Launchpad space, located at the Wells Fargo Bank building on Water Street in downtown Henderson, houses 15 filled suites as well as the local Small Business Development Center and is located in the city’s Downtown Redevelopment Area, Muelrath said.
The incubator creates a bit of a built-in clientele for the restaurants and other businesses on Water Street, and its proximity to City Hall means quick access for permitting inquiries or other bureaucratic needs, he said.
“Downtown Henderson has come a long ways in recent years with different developments, and food and drink and different opportunities in the corridor,” Muelrath said. “So Launchpad keeps them in there. And, ideally, they move out into an area also in downtown, and keep that economy in place.”
The graduation rate from the center into the broader business community is just under 50%, Muelrath said. Many, including local entities like Nevada State High School, K2 Energy and Sparkflight Studios, have gone on to be major players in the business economy, he said, while many others have not.
Regardless, Launchpad creates a “short runway” and is a small commitment for businesses to test drive their ideas and develop a business plan without getting over their head with a commercial lease, Muelrath said.
“You can think of it as an inexpensive way for someone to try out a business concept,” he said. “And if it takes off — great. But if it doesn’t, at least they’re not in massive debt over anything.”
While some people may hear “incubator” and assume it’s filled with tech startups, Muelrath said that has not exclusively been the case at Launchpad.
“It’s best served for a small business that is more of the service sector, so that the chamber can, in effect, provide wraparound support, mentorship and a success record that they can tap into — and the networking,” said Muelrath, who said Nevada State Bank supports a fund for Launchpad tenants to attend Chamber events and build connections at no-cost.
Launchpad is targeted at startups and homegrown businesses — like those that have been created from bedrooms or garages — that are ready to enter into a more official office environment, Muelrath said.
“It’s really been a center that’s been developed by the business community, for the business community,” Muelrath said, noting that many corporate donors support the incubator. “It’s its own business model.”
Tenants must meet with a Small Business Development Center counselor and chamber management, who want to see a growth in revenue, Muelrath said. The latter also has an array of partners that can help provide wraparound services for startup businesses, he said.
“You see a lot of startups, at times, sign too long of a tenure commercial lease that they have to (personally) guarantee, and that’s pretty scary and it’s a big commitment,” Muelrath said. “And this avoids that for them.”
Not only does Launchpad provide office space at well below market rent rates, Richards said, it also provides a much-needed address for startups.
“When you’re starting off with a new business, you just kind of need an address for your first office,” he said. “You need a place that’s maybe not your house, and they accommodate that.”
The all-inclusive nature of the Launchpad units makes it easier for small-business owners just starting out to focus on their business and not solely on paying their bills each month, Richards said.
“You’re not getting hit with extra this, extra that,” he said. “So it wasn’t extra for power, it wasn’t extra for internet, it wasn’t extra for the paper shredding onsite, it’s not extra to use the conference room.”
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