In this article we have prepared 30 ideas for the best business in Latin America. These businesses have a good chance of success in Latin American countries and are known to bring high income.
In addition, we have prepared a list of the top 10 low budget ideas for best business in Latin America. These ideas can be perfect for beginning entrepreneurs, ideal to gather money necessary to start a larger business.
BEST BUSINESS IDEAS FOR LATIN AMERICA
1. SPORT BRAND OR OTHER SPORT RELATED BUSINESS
People in Latin America love sport. Brazil holds the world record at the FIFA World Cup with five titles in total. Argentina and Uruguay have two titles each. Favorite sports in latin America are soccer, basketball, baseball, rugby and volleyball. Starting your own sports clothing company or creating a sports brand can be a particularly good idea in Latin American countries.
2. REAL ESTATE
There is an increase in the demand for housing almost throughout Latin America. The high natural increase and the level of urbanization which has increased significantly in recent years cause that more and more people need their own housing, most often in large cities.
3. TOURIST TRAVEL AGENCIES FOR FOREIGNERS
Latin American countries are very attractive places for tourists from all over the world. The exotic nature, the remains of the Maya, Inca and Aztec cultures and other peoples, and the Latin climate are something that has great value for tourists from around the world.
4. MICROGREENS FARMING
It’s a very good idea for small business in middle and big cities. Microgreens can be grown in a small garden, on the roof, and even at home or in the basement. They can be sold to local stores, restaurants and individual customers.
5. CARE OF DISBALED AND ELDERLY PEOPLE
The growing population of Latin America and the increasing life expectancy are causing that the demand for care and rehabilitation services for the disabled and elderly is increasing and will be in demand. What most sick and disabled and elderly people need most of all: nursing services, medical careres, house help, rehabilitation services, nutrition consultants, as well as a whole bunch of items and accessories for the disabled (wheelchairs, walking sticks, and many other accessories and necessary items and medicines.
6. PRIVATE HOSPITALS AND MEDICAL CENTERS
This type of business requires a lot of capital, but if you only have enough money then this business will definitely pay off. The growing number of people in Latin America, as well as the improving quality of life and level of education, will cause an increase in the demand for professional medical services in the coming years. The best ideas for this type of business are mini-hospitals, private doctors’ offices, private treatments and therapies, childbirth services, home healthcare services, drug treatment, rehabilitation and diabetic care and many others.
7. HOME SECURITY AND MONITORING SERVICES
Crime is a big Latin American problem. However, there are many ways to defend against it. A good and often very effective way to protect your apartment or car or other goods against theft is to install cameras, window grilles, alarms or to start cooperation with a security company.
8. SPANISH LANGUAGE SCHOOLS AND COURSES FOR FOREIGNERS
Spanish is one of the most commonly studied foreign languages in the world. The best way to learn a language is to learn it in a country where Spanish is spoken. For this reason, most Latin American countries create ideal conditions for learning Spanish. Latin culture and attractive tourist areas are ideal for organizing camps for Spanish students, establishing Spanish language schools, and creating other educational businesses. With a little good marketing, you can make this business famous and attract a whole bunch of students from around the world.
9. CONSTRUCTION AND TECHNICAL SERVICES
As the number of people increases significantly in Latin American countries, the demand for flats, houses as well as for construction and technical services increases. This niche in business is not only very needed, but also very profitable one.
Latin America is a very good wine growing region. Already many of the best wine brands come from there. To start a good wine-growing you will need fertile soil that will not be flooded and will be able to be fenced off with a net or fence from wild animals. This is a type of investment for many years, which will be more and more profitable with age, but even after a few years young grapes will begin to give the good juice for making wine.
11. EXPORT AND IMPORT BASED BUSINESS
Export of local goods made in Latin America might be very profitable business idea. It is also worth analyzing what foreign goods are the most in demand in particular Latin American countries and cities.
12. FINANCING STARTUPS IN LATIN AMERICA
Latin America is full of young people with heads full of business ideas. Many people have really good ideas and sincere intentions, but they are limited by a lack of capital and poverty. It is an ideal opportunity for support and cooperation with such people on the basis of startups. In exchange for the financial support of these startups, their creators will commit you to give you a certain amount of% of their startup profits in the future. It requires a lot of capital, but it can pay off very well within a few to several years.
Find out where the most people are hungry and where you can park. Follow events. If you really want you can earn a fortune with foodtruck business. It is crucial to get along with the owners of the area on which you will park and have well organized supplies. The most profitable bargains for foodtrucks are all festivals, concerts of famous bands and all major events.
14. BED AND BREAKFAST
This is a type of business that even small house owners can afford. If you have a small room, you can think about renting it or offering a bed and breakfast service there. Then all you have to do is post ads on the internet on the most-known websites (booking.com, aribnb.com).
15. A HOSTEL OR A HOTEL
Both hotel and hostel are usually quite profitable businesses. They can be very profitable if there are a lot of tourists in the place where you want to build start them. All you have to do is build a building that can accommodate at least 25 people. You can create 1, 2 and 4-bed rooms for hotel and 8-bed rooms (with 4 bunk beds) for hostel. On average in hostel, 8 people need 1 toilet, so with more than 25 people you will need more than 4 toilets there. A restaurant, dining room or kitchen is also necessary. Such a business does not require much experience, and a well-organized one will start generating profits from the first days.
Latin America is a region of the Earth in which there are a lot of valuable types of trees from which high-quality wood is obtained. You can make very valuable furniture and other wooden objects from such wood. They can be exported to other countries or sold locally in large cities. Considering that carpentry is definitely one of the top ideas for best business in Latin America and what is important does not require a lot of capital to start it, so everyone can start such a business.
Read also: The Best Business Opportunities in Ecuador
17. EVENT ORGANIZATION
Latin Americans love to celebrate and enjoy life. For this reason, it can be both good to organize concerts, events and festivals, as well as to offer services of helping and preparing such events.
18. MANUFACTURING BUSINESS
The huge number of young and poor people creates great economic opportunities. These people largely want to work and earn money. A good idea to use these people’s willingness to work and low labor costs is manufacturing business.
19. FRANCHISE BUSINESS
A good brand franchise is one of the best business ideas. In a good location it is almost a sure idea for a successful and profitable income. An additional advantage of the franchise is the opportunity to use the knowledge, experience and supply system of the franchisor.
20. CLOTHING STORE
Clothing stores are one of the most needed and profitable stores. After all, everyone needs cool clothes. The key to making a clothing store profitable is its good location, high quality and good price of offered products, and a nice store design.
Read also: 30 Types of Clothing Stores – Shop Definitions & Examples
21. BEAUTY RELATED BUSINESS
All women love to be beautiful. Being beautiful, however, requires some expenses. You need not only clothes, but also cosmetics, makeup accessories and many other things that allow women to look more beautiful. The best ideas for this type of business are a beauty salon, cosmetics store, hair removal salon and many other such businesses.
22. DENTAL OFFICES
Demand for dentists, orthodontists and dental services is increasing and will continue to increase in Latin America. First of all, small and medium-sized dental centers, orthodontics centers and implantology centers are needed.
23. CLEANING SERVICES
You don’t need almost any capital to set up a cleaning company. All you need are people who will clean it thoroughly, and basic equipment such as cleaning agents and necessary accessories. Over time, such a company may hire more employees and serve many different clients at once (including third-party buildings, offices, schools, shops, etc.).
24. WAREHOUSE AND STORAGE SERVICES
It’s a fairly simple business that requires having or accessing warehouses and a large space. This storage space is particularly valuable near large seaports and around large cities and large industrial centers. It is also possible to rent mini-warehouses and mini spaces which also can be very profitable business.
25. TRANSPORTATION & COURIER SERVICES
Transport companies, as well as the supply and transport of things is a very profitable business. The distances to cover in Latin America are often very large, which is why such companies are often necessary and much needed.
26. 3D PRINTING BUSINESS
There are many ideas and ways to create a cost-effective and well-functioning 3D printing business. 3D printing is needed near all major technical, architectural, engineering and even medical and biological universities. Students and academics are eager to use such printers to create models of their designs, or analyzed things, fragments of the human body, substances, or prototypes and models of created objects and inventions.
A good and very innovative business idea is also remote 3D printing with shipping to the customer. It consists in the fact that the client sends us data, or a visualization, or a verbal description of what he would like to print. Then it is printed and sent by priority mail, or by private courier to the recipient.
27. APP DEVELOPMENT FOR SMALL AND MIDDLE ENTREPRENEURS
Software development is one of the youngest and most profitable niches in business. More and more people are using the Internet to settle everyday matters, which is why more and more demand is appearing for various technological facilities such as mobile applications. Many companies, organizations or institutions need such applications badly and is able to pay a lot for them.
28. OUTSOURCING SERVICES
Outsourcing consists in the fact that expensive services needed in one country are performed cheaper in another country (where the workforce is cheaper). Latin America is a place where there is a lot of cheap labor, which is often highly qualified and able to do very valuable work. Examples of such outsourcing services include: call centers, data entrym accounting, video editing, marketing services and many others
29. ELECTRONICS SALE & REPAIR
The sale of electronic items such as computers, smartphones and tablets, and accessories for them is one of the most profitable niches in business. The sale of these goods is characterized by a large profit margin.
30. NEWBORN AND PREGNANCY SERVICES
Because the population and number of children in Latin America is increasing and families are getting richer, the demand for good quality goods and services for children is increasing. The most important goods targeted at children and pregnant mothers are baby care products, baby clothes, baby prams, baby furniture renting, toy store and many more.
BEST LOW BUDGET MONEY MAKING IDEAS
Even poor people, for example students can do these jobs. It is especially good idea to offer these services in rich neighborhoods.
- moving services
- gardening services
- dog walking
- tour guide
- car washing
- nanny services
- walls or fences painting
- candy / snack / coffee stall
- craft making – there is so many types of crafts that can be done and sold for decent money. Most profitable of them are furniture, knives, or handmade jewelry.
Read also: The Best Items to Sell on the Street
A common feature of all Latin American countries is that they belong to the group of developing countries. In these countries the population is increasing. Demand for new services and goods is also increasing, and new businesses are needed.
Developing countries tend to have some characteristics in common. For example, with regards to health risks, they commonly have: low levels of access to safe drinking water, sanitation and hygiene; energy poverty; high levels of pollution (e.g. air pollution, indoor air pollution, water pollution); high proportion of people with tropical and infectious diseases (neglected tropical diseases); high number of road traffic accidents; and generally poor infrastructure. Often, there is also widespread poverty and low education levels.
And in your opinion, what are the top ideas for best businesses in Latin America? Share your opinion with us in the comments section below!
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