10 Profitable Business Ideas in Mexico

1. Healthcare

The market for medicine and related equipment is among the largest in the Latin American region. Mexicans are usually divided into three groups when it comes to health services. The first and largest group attends public hospitals, the second one goes for private healthcare, and the last group chooses alternative medical treatment. The public health sector in the country is quite inefficient, and the current government is not prioritizing systemic reforms in the public medical institutions. This means there is a huge gap for private healthcare companies and practitioners to fill.

2. E-Commerce

Mexico is the 17th largest market for eCommerce with a revenue of US$19 billion in 2020.

With an increase of 32%, the Mexican eCommerce continued to increase.
The eCommerce market includes online sales of physical goods to a private end user (B2C). Included in this definition are purchases via computer as well as mobile purchases via smartphones and tablets.

3. Consumer Products

The market for consumer goods complements that of e-commerce since major stores and supermarkets haven’t opened branches in all remote areas yet. The country has a population of 127 million people with the middle class making 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. It has been an important sector of the country’s economy.

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 2019, Mexico had approximately 44 million foreign tourists. 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 business ideas in Mexico.

7. Digital Marketing

The use of the web in Mexico is increasing at a rapid pace. There were 92 million internet users in Mexico in January 2021. The number of internet users in Mexico increased by 3.5 million (+4.0%) between 2020 and 2021. Internet penetration in Mexico stood at 71.0% in January 2021. The increased internet use warrants a place for digital marketing in the 10 profitable small business ideas in Mexico.

8. Heating and Cooling

The country’s HVAC industry has been growing at a very rapid pace. There have also been significant investments in the power and hydrocarbons industry, and this is likely to increase the need for heat exchangers. You can benefit from such a scenario by selling your heating and cooling skills to companies and residents in Mexico.

9. Marketing Consultancy

If you are a specialist in the marketing sector, you can take advantage of the robust business environment in the country by helping companies with their promotional strategies.

10. Education

The use of English is growing in Mexico. The number of Mexicans taking English classes has doubled over the last decade and is still expected to rise. Currently, over 24 million people in Mexico are learning the language due to the national programs that have been campaigning for English proficiency. The language is also commonly used in business settings in the country.