The most successful branches of economy in Mexico are oil and gas industries. The country is considered the eighth largest producer of oil in the world. Mexico exports fruits and vegetables, coffee, cotton and silver. Many global companies opted to locate their manufacturing businesses in Mexico due to the low cost labor market.
Since late 1980 franchise business has been flourishing in the country and according to the Mexican Franchise Association to date there are 1400 franchised concepts which employ more than 800,000 people. The franchise sector in Mexico was increased by 10 percent in 2016.
Close economic relationship with the United States obviously makes the country the main franchise partner. Other significant trade partners include China, Japan, Canada, South Korea, and Germany. Thus, about 70 percent of all franchise companies are local which allows an opportunity to bring foreign brands in.
Lots of franchise types are available in Mexico, they mainly deal with early child development, cleaning, entertainment, education and medical services but 3 top sectors for operating a franchise are food and beverages, retail and beauty.
The average franchise fee in Mexico varies for different businesses, for restaurant franchises it is $35,000 to get started and for beauty businesses it runs from $75,000.Browse franchise List in Mexico
Education Index (2013): 0.638
Official languages: Spanish
Per capita GDP (PPP): $18,935
Quality-of-life index (0-10): 6.41
Population: 127.5 mln
Total GDP (PPP): $2.315 trillion
Ease of Doing Business Ranking, Rank: 49
Human Development Index (HDI): 0.762