6 Business Ideas for the entrepreneurial expat in Puerto Vallarta by Ron Morgan Properties
If you don’t already know the story about Archie, the name behind the legendary restaurant Archie’s Wok located in Zona Romantica, it goes something like this: he left his home state of California in 1976 in his Dodge van, headed for Mexico, and ended up cooking for Hollywood director John Huston and Elizabeth Taylor. The rest is history.
And there are many more Archies in this city; some established and many looking for an opportunity to launch.
Here’s a quick rundown of a few can’t-lose business opportunities waiting for you to sink your entrepreneurial teeth into.
Vacation Rental Property
Vacation rental income is what everyone wants. Why? It’s simple. Most investors already know a thing or two about vacations – as opposed to running a new restaurant. Virtually all real estate listings – whether a condo or home – can be rented out with relative ease.
If, however, you’d like to take a bolder step in that direction and invest in multiple units, Condominiums Tom is a turn-key, four-unit condo in Bucerias waiting for a new owner. And there’s more; the third floor is perfect for developing into more units or a grand, penthouse unit.
Flipping Properties, Condo Pre-sale Speculation
Everyone wants into the real estate game, and flipping a property is a sure and easy bet. You get in, improve, get out (or rent, etc). And while it appears there aren’t many of these properties listed these days, they’re out there.
Here’s one: Casa Arturo. It’s ideal for those with the know-how and who are itching to keep busy while also vacationing in Puerto Vallarta.
And if speculating is more your style, there are many new condo development units suited to buying and holding until you get the keys. Real estate data proves that you’re bound to make money on your investment. Here are a few condo developments worth looking into.
B&B, Yoga Retreat, Spa, Corporate Getaway
What’s interesting about these business ideas is they can be launched in less-obvious location choices, those in outlying areas. And there’s a good reason – as a spa retreat or getaway, the point is just that: to get away. You don’t need to launch in expensive, downtown locations.
Case in point: the recently-sold Casa Corinne. Located in the hills of 5 de Diciembre, it was remarketed as an ideal property for a B&B, meditation retreat or corporate getaway, complete with floor plans to help prospects envision space uses. Within weeks, the property was sold to a business-minded buyer with a plan. You may see a new spa or retreat opening soon in Cinco.
Dental Practice, Professional Service
The expat population is growing, and so too are the needs for professional services. Ask anyone who is a member of the various expat Facebook pages and you’ll hear about daily inquiries for professional services of all descriptions.
This commercial rental property, located on Basilio Badillo will help you fulfill the needs of expats and locals ilike. All it needs is your expertise.
Restaurant, Boutique Hotel
Just as Archie likely did, food entrepreneurs recognize a sure bet on investing in food services – people gotta eat!.
Food is a basic necessity. And for real foodies, exploring new places is routine. They expect new food choices and that spells opportunity for the next Archie. And that’s why Madero House is another dream opportunity for the right food visionary.
Whether as a restaurant on the street level or a B&B, this commercial space allows you to scale your business upward – literally – an additional floor or two for more business space or to construct the ideal loft. Madero House is also situated on a street with incredible potential, brimming with like-minded entrepreneurs and pedestrian traffic.
Build it and they will Come: Golf Course, Ranch, Resort
Make no mistake, tourism is on the rise in Banderas Bay and it’s only going to grow. The stats bear this out.
If Bill Gates had the foresight to turn his gaze – and money – away from computers for a moment and onto Punta Mita (he is majority shareholder of Four Seasons Resort Punta Mita and the neighbouring development property) then others may want to follow his lead.
Rancho Patzcuaro is the ideal canvas on which to build the ultimate business. Just south of Sayulita, on the road to Punta Mita, it’s an oceanside parcel of land waiting for a golf resort with condos, homes, villas or apartments. And the oceanfront could be made into a beach club for the owners.
Archie came to Mexico with a dream and that dream became a reality. And if he can do it, so can you.
Contact Ron Morgan now and let him help you find the ideal property for your business idea.