Looking for great business ideas in Mexico? Mexico, an American northern neighbor is a great place to start a business.
If you are looking for a place to grow, starting a business in Mexico is an ideal location. Mexico has more free trade agreements than any other nation in the world.
In recent years, new amendments to the Mexican foreign investment law have simplified procedures and made it easier to invest in Mexico. These amendments have not only made the administrative process easier but it has helped promote foreign investment and give a sense of security to foreign investors.
Here are 10 great business ideas to start in Mexico that you can launch and be successful in business.
10 Profitable Business Ideas To Start In Mexico
1. Farming Business
Mexico is one of the best countries in the world that has a friendly climate for agriculture like pepper, tomato, coffee, and the cultivation of avocado.
As the demand for agricultural products increases daily, venturing into one of these farming opportunities is worth it for any serious-minded entrepreneur in Mexico.
The best part so far is that it is a low investment business idea to start from scratch in Mexico.
Opening an amusement park in Mexico is another profitable business idea any entrepreneur can embark on. Though capital intensive, the business never goes out of style as Mexico remains one country most tourists do visit year in, year out.
Thoughtful planning is needed for the business. You can choose to involve a partner into starting this business if you don’t have the proper knowledge and finance for the business or you can go for a bank loan if you have collateral.
Starting an automobile business in Mexico would be a great idea because it will be cheaper than getting the US-built or Foreign cars in Mexico.
This is a very good business idea for entrepreneurs in Mexico to make huge money from their citizens.
However, going into this business will make sure you build a good brand image of your automobile business to have a good competitive advantage to your competitors.
You should be able to give the people of Mexico while they should patronize your automobile brands and not foreign automobiles. This is one of the most successful business ideas in Mexico.
Mexico being the third largest manufacturers of computers in the world comprising of both domestic and foreign companies creates immense opportunities for entrepreneurs to start a telecommunication related business in Mexico.
With the rise of the use of the internet, Mexicans are now patronizing online shopping daily.
According to the research, e-commerce is the booming industry in the whole of Mexico. What are you waiting for? The more you delay, the more money you are missing.
It is the perfect startup for young entrepreneurs. With the e-commerce business, you can sell anything from kitchen items to clothes to cars.
As you know that Mexico is a country where agriculture is a top priority.
The demand for fertilizer will also be needed at a high demand. So, you as an entrepreneur should consider going into fertilizer production to meet the demand for fertilizers by the farmers.
Starting a fertilizer production business just involves you getting the machines needed in the production which I must say is not too expensive for a young entrepreneur who is serious about the business.
7. Health Care Business
The money spent on healthcare by the Mexican government was over USD 90 billion in 2015 and it is growing extremely. The money is expected to reach USD 103.4 billion in 2018. Money spent on healthcare is covering 6.5% of the GDP which is split 50/50 between the private and public sectors in Mexico.
Another point to note about the health issue in Mexico is about the issue of diabetes and obesity. This has been a big challenge in following the residents in Mexico.
I must say, this is a very lucrative business idea any entrepreneur should venture into Mexico.
Tourism is well known as the fourth largest source of foreign exchange for the country of Mexico. It is the eighth-most visited country in the world with over 17 million tourists a year. This makes it a good field to invest in.
You can start up a business that delivers services needed by tourists when they come to Mexico. Tourism services include an interpreter, someone to take tourists around to show the beautiful places in Mexico, errand services, etc.
9. Retail Business
Starting a retail business is another business idea in Mexico that shows obvious signs of profitability.
This sector is presently experiencing rapid growth compared to past years. This is caused by the power of the increasing demand of the average citizens in Mexico.
A retail business that sells basic needs like electronic products, home appliances, clothes, etc.
The consumption of meat is not that high compare to an egg. If you are a Mexican you should know this, but if you’re not but are interested in starting a business in Mexico, you are hearing it now.
This is another great idea you could focus on and make money as an entrepreneur.
Carry your research on any of these Mexican business ideas explained above and take action now!