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#1 cozfan

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Posted 09 July 2011 - 09:14 PM

Hope that someone on this site can give me some insight as to business opportunities. Hoping to start a new business (restaurant) in the town. Any advice negative or positive is welcomed, but please be more precise than forget it or great idea. Ex, taxes, graft, permits, etc. thanking you in advance.
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#2 scubawoman

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Posted 10 July 2011 - 07:24 AM

I am not a business owner, but in the light of so many small restaurants closing during slow season (now), it might be difficult to get permits and needs to be checked out thoroughly. What type of restaurant will you open? There are Asian, Italian, Fusion, Steak, Argentinian, Seafood, just about everything here right now. Except "pizza as Americans know it." That I would think would be very successful. :) As an owner, you must employ a certain percentage of locals. Do you speak Spanish fluently?

Where would you put the restaurant? Build it? Rent a location? You need a trusted lawyer to help negotiate a lease. How well do you know this area? Maybe start in the archives of local papers for an idea. Good luck!
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#3 Coz_Aholic

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Posted 10 July 2011 - 08:10 AM

Come to think of it, what ever happened to that NY Pizza that opened and did not last. It was "OUR" kinf of Pizza.
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#4 Coz2wonder

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Posted 10 July 2011 - 08:57 AM

back to the topic...

We do own business here, and if you are in the service industry you are going to have some real ups, and downs.

To start a business from ground up, (as long as it is not in any of the MX protected job area) it is relatively easy, but not cheap.

Most everything in a resort area like Cozumel is for sale, for the right price. Restaurants in particular.

First, I would Google search "restaurants" in Cozumel to get an idea of what the competition is, and will be, and also what might be for sale (just not visible).

I would then check on all of the real estate websites to see what business are for sale. You can purchase the business and it will come with operating licenses, but you MUST,MUST, MUST hire a lawyer to protect yourself before committing to anything.

You will need to have available cash flow for at least one year (two would be better) to cover expenses, and to keep you afloat.

If you want to be in business here, I would think about what people NEED here, then build a business around that. You might find it is not a restaurant at all, but perhaps storage units (already been done, but there is only one small facility)as an example.

Hope that helps, and keep asking questions.

Good luck!
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#5 sailsgal

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Posted 10 July 2011 - 11:12 AM

We own a tour business here and bought an existing corporation that allows us to do many things on the island. We obtained our legal FM3's in order to work here in Mexico. I agree with all the other posts, get a lawyer/accountant who can guide you in all the legal avenues here. Come down here and rent a place to live for a few months and get to know the areas where you think a restaurant or business could be run well. ASK tons of questions before venturing here and getting wrong information and getting worn out emotionally or financially.
Its a safe and great place to live but you have to have all the facts and be very realistic in your expectations. Good luck!
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#6 mlfoto

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Posted 11 July 2011 - 04:01 PM

This probably doesn't need to be said, but the restaurant business is a hard one. I know from personal experience as an employee and an owner. If you don't have a lot of experience and deep pockets, the restaurant business is a great place to end up with a small fortune, provided you begin with a LARGE fortune.
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#7 nauticab

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Posted 11 July 2011 - 09:55 PM

the really good NY pizza place closed down. costs too much to keep running, way more than what was coming in. he was a business owner for YEARS in cozumel and knew what he was doing. the food was great, the idea, super, the taste, authentic. but supply and demand baby. commonplace for restaurants here.

i agree with all the other posts. you gotta, i mean YOU GOTTA capture the local market or you will bust. unless you have loads of cash to pump into the cruiseships to get on their "roster" and the competition is fierce. rent on the waterfront is ASTRONOMICAL. 1 block in and it halves. 2 blocks in and even cheaper.

you have to find a niche.... something that everybody wants, no one has, and gets used up. aint easy, especially here. but we wish you luck and keep us posted.
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#8 TERRY7133

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Posted 18 February 2012 - 01:41 PM

Cozfan,
I may not be answering your questions -- as it regards to specifics --- but if I were looking into opening a rest. in czm --- I would make sure that it would attract a fair amt. of local traffic !

To me, this is the most important consideration.
My second most important consideration would be --- would it be something that is not currently available ?

IMHO, there are plenty of hotdog, hamburger, seafood, steak, pizza, taqueria, chinese, italian, roto- chicken, and mexican food in general.

If I were to consider a rest. there which most ( including myself ) would discourage -- I would look at Mediterranean or a specialty rest.
The closest thing to this is on 30th next to the pool place or La Cocay.
You could serve chicken Shawarma ( very close to tacos pastor ) rice , salad, pita, hummus, and greek olives and salads.

Most all of these items are readily accessible in czm and most of them fit into local tastes. They can be served fresh with little waste and short prep time .

I have had relationships with mexican people in the U.S. for 30 years and it still amazes me how much that they enjoy chinese food. Very similar items that would be served at a greek rest.
I might even consider an authentic BBQ rest. with beans , potato salad, and cole slaw.

Most of these items appeal to the locals and may create a niche for you.
If you do not attract the locals, I think that you will be surprised as to how fast that you will go thru your money.

I am sure that Jerry and others will be able to provide you with the specifics of opening and doing business in czm.

Just my Humble opinion and believe me , I am not trying to rain on your dream !
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#9 MarkC

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Posted 28 February 2012 - 12:37 PM

I would think the island is too overloaded with restaurants, bars, cigar shops, t-shirt shops, and liquor stores.

Maybe a reliable mail forwarding / delivery business would help – it seems all the locals on here have trouble getting and receiving mail.

Or how about a house sitting / cleaning business marketed towards vacation home owners?

You could always try opening a butterfly sanctuary?

MC
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#10 nauticab

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Posted 28 February 2012 - 04:22 PM

markc you almost made my spit out my frappachino on my monitor! :lol:
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#11 MarkC

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Posted 29 February 2012 - 08:59 AM

markc you almost made my spit out my frappachino on my monitor! :lol:


I can be funny sometimes! :D
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“Corona con lima, Corona with lime... Todo el tiempo, hey all of the time... Con mucho gusto, I’m havin such a good time... Corona con lima, Corona with lime...”

#12 Tomas

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Posted 29 February 2012 - 10:12 AM

Seriously, restaurants are the most likely business to fail, anywhere. I've worked in them and ran them and it is easy to lose everything with them. For Cozumel, I'd look at something that everyone needs or a business that will always have traffic. If you wanted to have consistent income, maybe not much of it at times, but consistent, I might think about getting a house with space below for a small tienda or market that sells the basics. Finding a way to reduce overhead costs, having either cheap rent or the place is part of your space anyway sort of thing is good. If you have a little store, are nice to people, have fair prices on everything, then you might have a chance of success. Just an idea. I'd stay away from the restaurant and dive, t-shirt, sea shell and cigar shop businesses.
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#13 Coz2wonder

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Posted 29 February 2012 - 10:54 AM

There would be some steps you would need to do prior to opening a business in your home.

If you have, and I think you would a Fedi, you would need to ask your bank for permission prior to opening a business in your home. If they agree, and provide documents to such, than your good to go.

Check with an accountant or lawyer on the ability to set up a 'sole proprietorship' without having to form a corporation.

Also, you'll want to know is that type of business permitted in the 'hood' where you plan to establish the business. I don't know if there are any laws on the books that says you can, or can not open a certain type of business, but it would bode well to find out first.

There are things that are needed here, and services to the public, that are not focused on the tourist industry.

The best way to find out what is needed on the island is to ask.

I wish there was climatic controlled storage units. There is one group of units, but they are very full most of the time, and you can not rent a partial/smaller unit, you have to rent the whole thing.
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