10 Outstanding Ideas To Invest In Panama For Less Than $10,000

American Chronicle, September 10, 2007, Enilda Wason

Interesting Opportunities for Entrepreneurs

If after working a lot you have earned some cash and you want to develop a small business, you should invest it in what you really like to do and what will make you experience an enjoyable occupation and lifestyle. Panama is the right place for your lifetime investment and here we present a list of simple ideas and opportunities, that with a little cash injection, passion and dedication can be fruitful in this unique country:

1. Language Tutoring: With a total investment as low as $2,000 you can start running a language tutoring business. English for executives and tutorials to enter U.S. universities are in high demand, as well as for call center agents. You do not need to rent an office or furniture, you can go to people’s offices or houses for an hour or two a day. This arrangement will only require a small investment, and it will also put you in contact with other prospective clients and allow you to offer other services.

2. A Tour Leader Company: You know what tourists like and expect in order to enjoy an unforgettable experience. In Panama, there are all kinds of things to see, places to go, things to shop for and unspoiled beaches to visit, so the opportunities are there for the taking. An investment of $8,000.00 for a small office, renting a car, and a lot of Internet marketing and hotel contacts are needed at the beginning, but referrals in this business are high and you should have a growing clientele in a short time. If you are friendly and like meeting new and interesting people every week and enjoy guiding them around the country, this could be your opportunity.

3. Setting up a Restaurant: If you like cooking and mingling with people, opening a restaurant is an excellent option for you. The Liquor licenses could be expensive, but a Bring-Your-Own-Wine Bohemian Bistro has the smell of success in any part of Panama. To keep your investment to a minimum, you can look for a partner and start by renting a small place with no more than 30 seats. Parking space is of importance, and house courtesies will give you great word-of-mouth advertising. Most entrepreneurs are not wealthy, so, avoid investing too much in decorations, and use your resources for flyers and other forms of direct marketing.

4. Business Consulting: If your expertise is in marketing, finance, logistics or technology, there are more than 20,000 small and medium enterprises that could use your experience and advice. Approximate for $6,000.00 or even less, you can rent an office, get a license to operate, buy a computer, office furniture, purchase a business database, and prepare your brochure and introductory letter. Panamanians like to do business with people they know face to face, so you can start getting appointments with members of AMCHAM, professional associations and friends and can serve as referrals.

5. The Import-Export Business: Panama is an excellent service-provider. If you are able to obtain the representation of some products or services, you will be able to market them in all Latin America. For this you will need to invest in office equipment and some databases, but avoid having any inventory, and the credit responsibility should lie with the manufacturer. You should just have to sell and get your commission. Panama is the hearth of the Americas and as you know your home market and have the contacts for some export-quality Panamanian products. Helping exports, from hot sauces to craftsmen’s products, could get you dollars and recognition in Panama.

6. Event Organizer: In Panama has need of professional event organizers, so if you are good planning things, have a touch of glamour and can take care of details, you can try this. From parties, weddings, product launches and business meetings, there are very few people specialized in this area, and practically none outside Panama City. You will only need to develop relations with multinational companies, advertising agencies and hotel personnel. This is a business that you can run from your home and outsource all requirements. Your investment of $5,000.00 for a computer, an e-mail database and lots of business cards should be enough to start. You must schedule a month in which you should personally visit a minimum of four prospective clients per day. Thereafter, the guests at your first events should become your biggest promotional asset.

7. The Nursery Option: If you like kids and have experience dealing with them, Panama has a big need of bilingual nurseries. With $7,000.00 or less you can rent a house, hire a teacher and an assistant and purchase the basic furniture and games. You should also invest in some flyers for pediatrician’s offices and be in contact with area schools that usually start at the kindergarten level.

8. The Golf Pro: There are less than ten Panamanian golf pros trained to teach this sport. So if you love golf and are good at it, this is an opportunity to start a career you can brag about to your friends at home. The initial investment will be in being trained on how to teach and to get some kind of certification. After that, you will be sought by hundreds of locals and foreigners that dream of improving their game without their golf buddies knowing. Night lessons on ranges will become popular.

9. The Scout: If you love soccer, baseball or basketball, and know how to recognize great athletes, you can become a scout for your favorite university or professional team. There is a lot of untouched talent in many sports, and Panama has a disproportionate number of world-class jockeys and boxers. Your major investment would be your time. Try this!

10. A Garden Expert: There are plenty of lawns to mow and gardens to take care of, but not enough professional services in this area, especially in the countryside of Panama City. The cost of labor is low, and year round contracts will be the rule. Your start-up investment for equipment probably should not exceed $6,000. You may focus your efforts on small, well-to-do communities, and you should have all your business by the end of the first year.

You can enjoy working in what you really love to do. These are only a few of the many business opportunities that can be found in this colorful country. If you are experienced in any of them, or in other areas, then improve your talents and enjoy a pleasant occupation and lifestyle while you know Panama. Here you will always have an opportunity!