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Your best business development ideas in Mexico

Hi everyone,

As a foreign entrepreneur, launching a business in Mexico is a fantastic project and an exciting challenge. Some ideas are likely to succeed. Some others are promising but may not work as well as intended.

In your opinion, what kind of business or industry is likely to succeed in Mexico? What kind of industry or service currently unavailable or underdeveloped in the country would meet local needs?

On the other hand, what are the most common business types foreign entrepreneurs would be eager to launch in the country but with very little chance of success?

Thank you for your insights.
Priscilla

Dear Priscilla,

Thank you for your questions.

As an entrepreneur in Mexico myself, I can say that the most important element to success is the business owner herself. More than a well-targeted business idea, the entrepreneur should have the following skills / experience:

1. Self Confidence
2. Knowledge of the local culture / traditions / customs.
3. Knowledge of the potential target market of her product / service.
3. Intercultural Awareness - hands-on experience with the primary cultural differences relating specifically to how business is conducted in Mexico and the entrepreneur´s home country (what she is used to vs. reality of business customs in Mexico).
4. Fluency in Spanish.
5. Previous experience launching projects or businesses.

Even the best new venture ideas will face considerable obstacles unless the above skills / experience are taken into consideration first.

Hope this information has been helpful.

Warm regards,
Melanie

Hola Priscilla
   The answer to your question will depend on where you settle.  Cities here as technologically advanced as anywhere. Yet you can travel fifty kilometers and find families cooking over open wood fires.  Having said that, I believe the key to your success depends on choosing a project that reflects your strengths. 
   My only other advice is to take your time.  Find a place where you are comfortable and then assess what you want to do.

There are probably as many business ideas as there are people! However, one type of business that is experiencing a golden age, is business from home. It is a great time to work from home in the US, everywhere including Hawaii,  Canada, Mexico, and really, the whole world. It is a borderless concept.

So, while I respect those that have commented, especially my friend, Melanie, I look at business with the least in overhead and no boundaries, as long as the telephone and computer can connect us. I do not want to do shipping or for that matter, hire employees. And rent and paying for stock is more than I want to sign up for.

I just need a tax person, someone to come over on an hourly basis for the internet-and leads.

We have a very specific product that billions want across the world.

We look for those that are looking for an opportunity.

It is relatively new product in Mexico. Although I do not speak enough Spanish yet, that does not matter. My goal is to work with people from the US, and CA primarily and those that come to me in Mexico will need to be bilingual.

There are different ways to build what is referred to as a downline as far as Mexico goes, than in the US. And some parts of the US have different characteristics, as well.

Rick Emmerich in Cineguita, San Miguel de Allende.

In my experience, 15 years in Mexico, I think it would need to be a business that would appeal to the rising middle class in Mexico and to expatriates.  While I personally prefer something less manufactured looking, I suspect that a business that brings low cost, modern looking home furnishings like an IKEA would become enormously popular.

Gringo businesses here cater to almost exclusively  to other gringos because their prices are too high for locals.

There are two restaurants
Bike rentals
Golf cart rentals
Two tour companies
RV spaces
One bar-restaurant
Apartment rental

All require a large start-up cost ..... and you'd better be pretty good with Spanish and have spent a lot of time in the area

I would very much like to start an online Skype educational counseling/tutoring business with American students.    My background is in special education, counseling and group work.   I'm not sure how many takers I will get as often parents want someone local.... or at least living in the States!
Any ideas out there?
Anyone who can help me with my website?
I will only be in Mexico for 4-6 mo/yr.

I have a very good friend who writes a blog in SMA. I also have many friends who have purchased homes in SMA.

I have been there twice and would like to move there myself.

In one of my friends recent blogs, there were many responses suggesting that various events that occur around "food", go missed due to not having access to information on where and when they are taking place.

Furthermore, Santos seems to be the best place for dancing in SMA.

I think a Social Director would be a great job in this lovely city. I would love to move there and not only make all events in SMA aware to the residents, but to co-ordinate monthly dances, art exhibits, photographic exhibits, etc.

If you think this is a decent idea, I would love to hear from you.  My best.  Bonnie

Well, this is sure an interesting community. I do not know Santos, but I don't feel it is that hard to be aware of the goings-on. We have the Attencion paper that comes out each Fri to help with that. An acquaintance has a site, too.

This is an amazing place. Since my wife and I came here knowing that she could practice her trade (Chiropractic) and that I could NOT get a job, I am out of the loop on job openings. I have to work hard at my business and am consumed by operating our little ranch outside of town.

There are, of course, thousands of those comfortably retired and no work to do. Those are the ones that MAY need another outlet to tell others of what is going on.

I am leaning to the NO side, that we don't. Keep aware, that of course, I am not one of those retired types that wanders around aimlessly from Tues market to afternoon movie to discussions on Mayan interpretations of Jaguars and their connection to the spirit world.

Gotta run to work now.

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