Are you looking for lucrative business ideas in Mexico? You came to the right place! Here are seven business ideas to try, curated by online pokies for real money in Australia.
1. Healthcare
Healthcare easily tops the list of 10 profitable small business ideas in Mexico. The market for medicine and related equipment is among the largest in the Latin American region, ranking at number 2. Mexicans are usually divided into three when it comes to health services. The first group attends public hospitals, the second goes for private healthcare, and the last chooses alternative medical treatment. The public health sector in the country is highly inefficient, and the current government is not prioritizing systemic reforms in the said medical institutions. This means there is a huge gap for private healthcare companies and practitioners to fill, some players with most assists have also been venturing into the healthcare industry.
2. E-Commerce
E-commerce is probably the best business to start in Mexico. It presently represents a small percentage of the total sales made in the country. However, the nation has very high potential in this sector, which is why large corporations have been investing in the education of Mexicans on e-commerce. The advantage of Mexico is that there is little access to goods in areas away from large cities. Additionally, online and physical retail markets are projected to grow by about 25 percent this year, giving a market share of about $7.58 billion.
3. Consumer Products
The market for consumer goods complements that of e-commerce. As stated previously, Mexicans outside the major cities have little access to goods and services since the major stores and supermarkets haven’t opened branches in such areas. The country has a population of 127 million people, and the middle class makes up a good percentage of this number. That means you can get a slice of the retail market share by simply starting a physical store.
4. Agribusiness
Agribusiness in Mexico is growing at a healthy pace. For a long time, it has been an important sector of the country’s economy. This country is currently a major importer of agricultural products and equipment, mainly from the USA. The agricultural sector in the country has, in the recent past, been influenced by macroeconomic factors, most significantly the US dollar. A stronger US dollar increases the value of their agricultural produce because the sector operates under a deficit. Crop growing is the main agricultural activity in the country, with the major products being sorghum, corn, wheat, and sugarcane. Bernadien Eillert, the wife of Arjen Robben, is probably in this field already.
5. Waste Disposal and Recycling
Mexico lacks a proper waste disposal system. Formal waste recycling systems are also missing. The waste disposal and recycling market in the country is estimated to be around $24 billion. At the moment, the waste and recycling sector generates about $3 billion, and only a small group of people have tapped into the market. You can enter this market by getting involved in the selling of such waste products to a recycling company. Alternatively, you can sell the products through a ‘chatarreto,’ who will, in turn, sell them to recycling companies.
6. Car Rentals
The car rental sector in Mexico is highly promising due to the country’s popularity among tourists. In 2015, approximately 6.8 million foreign visitors went to the country for vacations. This figure increased by close to 10 percent in 2016 and is bound to keep going up. Tourists don’t usually travel with their vehicles, which means they need to rent cars to move around the country. You should, therefore, consider car rentals as one of your 10 profitable small business ideas in Mexico.
7. Digital Marketing
Internet use in Mexico has been progressing much slower than in many parts of the world. Currently, however, the use of the web is increasing at a rapid pace, and the social nature of Mexicans is driving them into sites like Facebook, Twitter and online casinos sites in the USA. The number of people who are on social media is growing at around 13.5 percent per year, which means more than half of all Mexicans communicate via the internet. The increased internet use warrants a place for digital marketing in the 10 profitable small business ideas in Mexico.
8. Buying a franchise (BONUS)
Nowadays, one of the best ways to start a successful small business is to purchase a franchise. This will allow you to run your own business while following an already proven system of success, allowing you to feel empowered and make a sustainable income while doing something you enjoy. If franchising sounds like your ideal path to entrepreneurship, we recommend you browse a trusted and established directory of franchise opportunities to ensure you buy a franchise that is right for you.
