Planning on moving to cancun in less than a year,looking for information on the current market and what is big in cancun. Can anyone answer some business question I have?
Many people have started businesses and some have succeeded; some of those who have succeeded have made a very nice life for themselves here. Fire away with your questions- perhaps some of those who've tried their hand at business here will have something to say on the subject.
1. what is the largest growing industry in the market right now? 2. Are foreign LLC's operational out of cancun? 3.what are the top " in demand" industries/services right now? 4. what services and/or skills would best serve cancun?
1. Tourism 2. Don't know 3. Tourist related services 4. Something you need to find out by seeing opportunities when you are here.
You can get permission to open a branch, but it is probably simpler just to form a Mexican Corporation to operate a business based in Mexico. As for "what's hot" in Cancun it's probably just about the same as you would find elsewhere, aside from taco stands- and you might sell more sun tan lotion here than you would in Toronto. Successful businesses of almost any type elsewhere will probably thrive here, too. Foreign origin franchises are popular, for example. You could rule out a big trade in snow shoes.... There's always room for a new business that just does everything better than the competition, and we have a youthful population who adopt new products quickly. However, for many things, 40% of the local population would probably be too poor to be considered potential customers.
Many people have successful internet related businesses here. Some are jobs that can be done anywhere in the world and Cancun is a great place to do it from. Travel related services are probably the main ones that I run across. All you need is a VOIP phone and a US number and you can be booking weddings in Jamaica for clients in Canada. One gal did medical transcribing for a Canadian medical practice. She eventually moved back to Canada for family reasons but she had Canadian income with Mexican overhead. I am basically retired but no way would I want to be in, or suggesting to anyone, a retail business of any type. Well, unless you want to be paying protection money to our local cartel. A friend in a western Mexican resort town told me that two young American guys went missing (and will most likely never be seen again) after opening a TKD studio and refusing to pay protection money. Anything you want to do safely should be done under the radar. If there were easy answers to your questions, anyone and everyone would and could already be filling those needs. We have 3 Super Walmarts, 2 Sams Clubs a Costco, other Walmart and Sams owned grocery stores with different names. Not exactly third world with a beach. Suggest you really get to know the area before venturing into anything. If you have a special skill, see if you can apply it here. You won't be inventing any wheels. Show me a successful street corner taco stand and there will be 3 more on the same corner before you know it. What we really need here though, IMHO, and there is a Closed Facebook Group for Expats where there are constant inquiries about products, is an affordable and well stocked health food store. We have a couple who have been around and 3 or 4 trying to make it, but they are all small, not well stocked, always out of what you want/need or they never stock it in the first place. There is a real trend toward healthy eating, especially in the large expat community and this is a need that is not adequately filled. Products are really costly. Organic eggs about $5 US per dozen. Hemp hearts are over $40 US for 454 gr/1 lb. This is more than double the price of even NYC stores and is a basic example. And this is a Mexican product here, not imported. I could go on and on about this subject. Just my two pesos worth.
Absolutely not Smoke. Many people just choose to close up shop as, after the payoffs, there is nothing left for them. This is not a business friendly society. Rumor had it that Hilton sold its profitable hotel here for this reason. Yet another company now operates it under another flag. Check this recent article: Extortions By Drug Cartels In Mexico On The Rise
computer Parts and Accessories Can Anyone tell me how the market is for computers and parts,Is there a need for IT techs?
