Owning a business in Mexico

Discussion in 'Living in Cancun' started by LionsNzebras, Feb 7, 2013.

  1. LionsNzebras

    LionsNzebras I can choose my own title Registered Member

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    So for a long time we have been talking about moving somewhere warm.

    Mexico is high up there on the list.
    While I still have 10+ years of work left.

    How hard is it to own a business in Mexico?
    I have to think that running the Boobs Cruise is a hell of a way to make a living.

    There is so much though.

    Residence, living day to day, working etc.
    Is it that hard to do?
     
  2. Steve

    Steve Administrator Owner

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    I don't think there's that much difference running a business in Mexico than anywhere else imho especially with an online business such as mine. A physical bricks and mortar business is going to be a little more challenging, start employing people then it gets more complicated still.

    The difficult/frustrating parts for me are the other things that come with living in Mexico; language, food, attitudes, bureaucracy, immigration etc.

    If you can develop a business with a steady stream of customers, offer good service at a good price and better your competition then it's no easier/harder to succeed/fail here than anywhere else.
     
  3. V

    V I can choose my own title Registered Member

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    That seems like a fair statement to me. Succeeding in a business anywhere requires a level of energy and willingness to work long hours that any number of people wouldn't possess. It also requires a good idea to begin with and flexibility as new conditions present themselves, not to mention a measure of good fortune.

    Anyone with a legitimate business here can get all the professional help they need dealing with Mexico's Government on issues such as setting up the business, administering it, and dealing with taxes. Immigration is a non issue for those who establish a Mexican Corporation as the vehicle for their business, a thing anyone who has anything to consider, if only for the liability protection it offers.

    There is a treaty with the U.S., and probably other developed countries as well, that allows the enforcement of Mexican Court Judgments against foreign citizens to be enforced in foreign courts- something to consider when a business includes a risk of physical injury to its patrons.
     
  4. davisod

    davisod Addict Registered Member

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    This discussion brings something to mind. I remember about 5 years ago, someone asked what void in business there is in the Cancun area, and TJ said he would PM the person. I have OFTEN wondered what that was? TJ, could you PM it to me please? Thanks!
     
  5. V

    V I can choose my own title Registered Member

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    In a way the answer is obvious, and the same the world over: find a type of service that is in demand and improve on it. It almost doesn't matter which service you chose, though the culture, and business environment will play a role in how many inroads you can make.

    Take the restaurant business, for example. Plenty of restaurants, right? Yet I know a man who came to Isla Mujeres eight years ago, and has developed two immensely successful restaurants there which give him and his family a level of wealth and amount of leisure time many would envy. In each case, he had a good idea, implemented it skillfully, and worked hands-on to make it happen, and keep it happening.

    He is now working on his third restaurant project there: each different, so as not to compete against the other, each successful. His skill and attention to detail gives him a market edge.
     
  6. Cancun Fun

    Cancun Fun Guest

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    Plenty of restaurants...that is for sure! However, I can't name any that I would recommend to people. It amazes me how horrible the food is in restaurants in Cancun.
     
  7. V

    V I can choose my own title Registered Member

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    You're right, there. There's lots of bad food on offer, and some really good food.

    Your cooking skills need to be mated to someone's business skills: that would be an unbeatable combination!

    I wouldn't have you in the kitchen, but at home, experimenting, then teaching those who actually do the cooking how to replicate the miracles of flavors you can produce.
     
  8. bowmanmt

    bowmanmt Enthusiast Registered Member

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    I have had a few different types of biz down in PV and Dolores Hidalgo, IMO. you have to be a special kind of animal to make a go at here and be successful. And not be semi brain dead afterwords.
     
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