[hr]You love Mexico, and you want to stay. We get it. (That’s why we’re here in Huatulco Mexico.) But if you’re lacking that million-dollar trust fund or generous retirement pension, then chances are you’ll need to find a way to earn revenue in Mexico.
With the right skill set, a reasonable amount of experience, a passion to build to something and the patience to hurdle over unexpected speed bumps, then you’re ready for a revenue-generating adventure in Mexico!
Employment in Mexico
The first option part- and full-time expats consider is securing employment at a Mexico-based company. While it is illegal to take a position away from a skilled national, there are still opportunities that await in particular industries. Real estate, specialty markets, tour companies – these industries can open doors of revenue opportunity for you.
Fostering an Entrepreneurial Spirit in Mexico
If you’re thinking about carving out your own business in Mexico, then consider what unique service or product you can offer. Perhaps you were successful in a particular field in your home country, and can bring that know-how to Mexico.
In fact, below are 12 other ways to earn revenue in Mexico. They are do-it-yourself businesses that can be very rewarding – and profitable – for entrepreneurial expats.
1. Tour Companies
Let’s face it, tourism is Mexico’s biggest money-maker. So why not cash in by starting your own tour company in sunny Mexico? One American fulfilled his long-time dream of opening a scuba company in Cancun. He spends his day treating guests to the underwater beauty of this popular destination. The revenue rolls in every high season (November-March), and during the slow summer months, he’s globetrotting around the world.
2. Teaching English
Thousands of expats come to Mexico to teach others English (or other languages of choice). They teach in public or private schools, offer one-on-one lessons, or open their own language institutes.
3. Become a Resource for Others
If you like to make connections among professions, then consider a consulting firm. Barefoot Consultant Inc., for example, is an online resource for Baby Boomers who want to “uncover their most powerful earning skills and turn them into a portable income” from anywhere in the world. “Barefoot consultants” help clients identify their most marketable skills and then teaches them how to turn those into a global income. New consultants are then able to work from home, anywhere in the world, even our favorite location, Huatulco Mexico!
4. Real Estate
Successful real estate agents in other countries recognize the fact that great opportunities exist in Mexico. There are beautiful communities to build and enhance across the country. (For us, this location was Huatulco Mexico.) In fact, seasoned agents will quickly discover that with the right connections, start-up capital and a finger on the pulse of the next opportunity, they can make a decent living.
5. Employment Recruitment
If you have a Human Resources background, you can put your expertise to work helping others find employment. One Swedish-Canadian businesswomen brought her know-how to Puerto Vallarta. She established a team of multi-lingual, multi-cultural professional recruiters and head-hunters who recruit highly qualified candidates for international companies. Her business was such a hit, that she now has another office in Guadalajara and plans to open others in the near future.
6. Health Care Management
As people are living longer than ever – thanks to always-improving medical treatments – there is a need for expats to get health care guidance while in Mexico. If you have a medical and business background, then perhaps you can help with doctor/facility selection, case management, billing, treatment options and finding medical insurance alternatives.
7. Bed and Breakfasts
If you love to treat guests to home cooked meals, comfy amenities and unforgettable adventures, then you may want to open your own Bed and Breakfast (B&B). One retiree from Canada opened her Cancun home to international visitors. She rents two of her three bedrooms to those who want the Cancun experience without the party scene. Her guests come for the hearty Mexican-style breakfasts and the proximity to hot spots such as Cozumel and Playa del Carmen. The income from this business not only covers food, advertising and year-long maid service, but it gives her the added income she needs to take off the summer months and travel.
8. Imports and Exports
Mexico’s art and handcrafted products are appreciated all over the world. Similarly, international goods are enjoyed all across the country. This makes for a ripe import/export business. If you can navigate complicated legalities, it may be the ticket to a hearty income.
9. Cafes and Restaurants
Owning a cafe or restaurant can tough with endless competition, rapid turn over and ongoing expenses. But expats who find a special twist to appeal to the palettes of discriminating customers always enjoy a greater degree of success. Take for instance one American couple in San Miguel. They developed a unique business model that focused on a fresh Asian-fusion menu. It was a huge hit!
10. Freelancing Talents
Are you a writer, artist, photographer or creative soul of another type? Chances are your talents could be of use in Mexico. One Canadian writer/editor – based in Puerto Vallarta – services clients all over the world from the comfort of her open-air home on the beach. In the same city, an American photographer serves a wide range of clients all year long. Thanks to nearly ten years of work, he now has the luxury of picking when – and with whom – he works.
11. Fitness Experts
People in Mexico are making the time to get in shape, eat better and take care of their well being. If you have certified training and experience in this field, you can become an instructor either working for a gym or resort or by opening your own business. Personal trainers, yoga teachers, Pilates instructors and more – they’re all needed (as long as you’re not competing with nationals).
12. Business Services
Every year, expats in Mexico hustle to find trustworthy accountants and tax preparation professionals. If you’re a licensed professional in these fields, perhaps you will have a ready-made demographic in your chosen area of Mexico.
Just a word to the wise, there are a number of must-do’s in order to minimize increase your success rate as working expat in Mexico.
1. Learn Spanish – Being bilingual will help you become accepted in your Mexico community. Plus, learning Spanish will help you navigate any complicated government regulations and cultural nuances.
2. Stash Away Enough Capital – Also, it’s important to have enough capital to get your business started and to maintain it for a full year.
3. Get Connected – Bring a trusted, highly qualified professional on board to help you with making big ticket purchases and formal legalities. Attorneys and accountants will help you structure your business, file necessary paperwork and work out immigration issues.
4. Bring on a Partner – You may want to share business ownership with a Mexican national. This can minimize risk, connect you with movers and shakers in the community, navigate cultural differences and communicate more effectively with your clients.
If you’d like to learn more about this article or find out how Own Mexico can help you get established in Huatulco Mexico, then contact us today. Also, feel free to share your “earn revenue in Mexico” experiences below.