Morocco is not only a favored destination for tourists and travellers but also an attractive country for foreign investors. Both local and foreign investors are increasingly exploring new business opportunities in Morocco. Being an important player in the EMEA region and featuring high economic growth in recent years, Morocco is now considered a fresh market for new projects and investments. In this article, I will take you through 10 profitable business opportunities and ideas in Morocco for 2021 and beyond.
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Open a Restaurant or cafe
Who doesesn’t get hungry? Nobody, right? Food is one of the sectors it’s hard to go wrong with. If you have a passion for food and have some culinary skills, this business is for you. Morocco is a great market for business opportunities in the food sector and there aren’t many international restaurants.
So, opening one would be a profitable business. If you want to open a restaurant without the overheads and the expensive costs, then you may be looking for a food truck to test the market first. It’s all about creating your brand.
Let’s be honest, Moroccans don’t wear their traditional outfits unless there is a special occasion. Therefore, investing in a modern clothing brand in Morocco can bring you a lot of money.
Although Morocco is the 7th largest market for fast-fashion production for Europe and the MENA region, most consumers struggle to afford brands such as ZARA and H&M. Locals have one only option is to purchase Turkish clothes, thanks to their free trade agreement with Turkey, which has reecently been suspended.
This means that consumers will now have to pay much more for their fashion items. Many businesses are starting to launch their locally-produced modern clothes, which means that the local clothing manufcturing industry in Morocco is about to flourish. Now is the time to take the plunge and start your own clothing brand in Morocco.
Tutoring: A Language Center
Education is a basic need not only for Moroccans but for everybody. The reason why a language center business will do good in Morocco is that the current education curriculum doesn’t prioritize foreign language learning, especially English learning. Moroccan parents are always in need of affordable solutions to develop and improve their children’s foreign language skills. English and French are the most sought after.
Opening a language center in one of the big cities in Morocco is an excellent business to make money. You will probably think that opening an official language center will cost you an arm and a leg. Yes, it will, as you have to rent a space and advertise your business and probably hire a qualified teacher, if you are not. But if you are a qualified teacher, you could start it from home as a private tutor or maybe online and once you are financially ready, you can open your language center in Morocco.
E-Commerce distribution center for small businesses
E-commerce in Morocco is growing rapidly especially with the COVID19 lockdowns. Many small and medium businesses have shifted to online platforms. However, with these new circumstances there aren’t many delivery services in Morocco to satisfy the urgent demand. This business idea would help fix that by creating a service where medium and small business enteprises can have their products shipped. This will ultimately increase their exposure in the market and help them to grow.
Open Student housing
One essential business opportunity that I see in Morocco is in affordable housing. Investing in properties in Morocco can be extremely expensive. Property investment is a huge money-making opportunity in the country. Depending on your investment budget, you could purchase one or more apartments or houses and rent them out.
Start a hotel business
Morocco is the most famous tourist destination in North Africa. And obviously, tourists will need a place to stay when they visit. This business is very capital intensive and profitable. A bed and breakfast would be a genius way to start. Choose the location of your business carefully. I would advise the popular destinations that attract both tourists and locals. You won’t have to build your hotel. There are many options to skip the hassles of building one. You could, for example, rent a Riad or a small villa and you will be ready to go.
Many families cannot afford daycare services in Morocco. It is considered a luxury but also a critical need for many parents who desperately need two salaries to make ends meet. Therefore, there is a huge need for affordable daycare facilities in Morocco. This business idea would be in high demand since there are many couples who rely solely on their families’ to take care of their children.
Export local products
What many people don’t know is that Morocco is rich unique and authentic products. Morocco spends millions of dollars on importing food and non-food items from other countries. It is true that Morocco has a lot of local products with the potential of becoming global brands. But unfortunately, very few people know about what Morocco has to offer to the world. From natural beauty products and authentic textiles to vintage rugs. There are thousands of undiscovered products to export, you just have to look.
Private schools are one of the most leveraged businesses around. The private education industry in Morocco is growing rapidly as more parents choose private schools over public ones. Setting up a private school requires a handsome investment and probably a very long procedure to get all the necessary permits and approvals. If you are planning to start big, acquiring a large space is important and you can develop it over time.
Effective transportation is one of Morocco’s recent development projects. Recently, Morocco launched numerous tramway lines in both Casablanca and Rabat. Unfortunately, these initiatives aren’t covering the huge need for transportation across the country. Starting a private transport company would be a profitable investment in Morocco. But conducting a survey first would help you decide what kind of transportation service will work and in which city.
These business opportunities in Morocco are among the most profitable ones now. Morocco offers attractive business incentives and support to foreign investors. For more information check the Invest In Morocco website.
Do you have a business in Morocco? If yes, share your experience with us in the comments below.