John:
Since you want to support more than five laptops simultaneously, with Verizon you may be forced to use one of the free Wi-Fi hotspot apps. Verizon's $30/mo hotspot feature allows you to connect no more than five devices at a time.
I use FoxFi on my Droid Bionic. I rooted my Droid Eris so I could use the Wireless Tether for Root Users app. EasyTether is another free Wi-Fi hotspot app. All of these allow you to connect as many devices as you want, and you don't incur Verizon's "Mobile Hotspot for 4G LTE Smartphones" $30/mo fee. The $30/mo feature also has data limits IN ADDITION to the limits on the data plan required for your phone.
If you are using a smartphone as a Wi-Fi hotspot, you will want to have it plugged in. A few hours of battery life is the most you can hope for when doing that.
You might want to post your query on the InternetBySmartphone forum on Yahoo:
InternetBySmartphone. (I am the owner of that forum.)