Do you want to start a business in Canada? If YES, here are 50 best profitable small business ideas and investment opportunities in Canada for 2018.
Okay, having provided a detailed analysis of the legal requirements, market feasibility and every other thing it takes to start a business in Canada and a series of industry-specific sample business plan templates; here is an in-depth analysis of the top 50 best small business ideas in Canada. So put on your entrepreneurial hat and let’s proceed.
Why Start a Business in Canada?
There are a number of businesses one can start off in Canada and become a millionaire. Even though the country is one of the most stable for new businesses, this does not mean you shouldn’t carry out a thorough research before venturing into the business.
One favorable thing in Canada for new businesses is the low corporate tax available that will enable your business grow. If you intend to start your business from the scratch, you would have to be hard working and ensure that you do not cut corners, this means your business plan and other relevant documents have to be in place.
11 Facts and Figures of Canada That Will Interest You as an Investor/Entrepreneur
Canada has a strong and stable financial system, low corporate taxes, and one of the highest living standards in the world. One attractive factor about Canada is its outstanding connections to top markets around the world, where in North America alone it has access to almost 500 million consumers.
Also, it is the only country that has the strongest economic connection with the United States of America. Here are other good facts about Canada;
- Canada’s largest cities act as a united front so as to international companies the best strategies to expand their businesses.
- Another plus for Canada is its well maintained transportation infrastructure that is perfect for moving goods, especially when it pertains to international trade.
- Between 2008 and 2012, Canada had an average real GDP growth rate of 1.2%, leading the G-7
- Canada has the lowest net debt-to-GDP ratio.
- According to the World Economic Forum in 2013, Canada’s banking system was the soundest in the whole world.
- According to the Economic Intelligence Unit, Canada is the best country amongst the G-7 to start a business in between 2014 and 2018.
- Businesses in Canada have easy access to one of the largest consumer markets in the world due to North American Free Trade Agreement, NAFTA’s influence.
- Canada according to survey ranks among top 10 for quality of life out of 132 countries.
Here are some business ideas you might need to look into in Canada;
- Business ideas for Small Towns
- Online Business ideas
- Business ideas for Teens
- Import Export Business ideas
- Manufacturing Business ideas
50 Best Profitable Small Business ideas in Canada for 2018
Starting this kind of business would mean that you are proficient in the field of mining so that you would be able to provide advice to clients who would be relying on your experience and recommendation. However, you would need to find out the requirements that you would need before starting this kind of business, and you would need to decide if you would be working exclusively to a mining company or if you would be catering to a couple of mining companies.
In starting a transportation business, you would need to decide on the type of transportation business you would want to go into, which includes taxi service, medical transport, courier service, Bus Company or trucking. You would need to carry out due diligence and determine what registration, license and permit you would need before starting the business.
This kind of business requires that you act as the middleman between shippers and motor carriers, with the aim of helping match shipper loads with available truck capacity. Before starting this business, you would need to find out what each provincial regulations towards the business is, as well as the basic requirement from the National Transportation Brokers Association (NTBA), and then the license you would be required to won.
Independent financial advisor are also referred to as brokers and mean that they offer products and advices to clients, and you would need to hold several financial licenses that include health insurance, mutual funds, and other licenses that permit the sales of securities and mortgages.
You can engage in equipment leasing business especially for those that are into mining. Not everyone going into mining have their equipment or are ready to buy due to their tight budget, and so leasing is always less expensive. Providing this kind of service will be highly beneficial to you as a business just starting out as you would be providing a needed service. You would have to check what kind of equipment your competitors have and their rates for leasing.
As a cleaning business owner you would need to provide cleaning services to clients that would require it. You can decide to either clean only residential areas, commercial areas, or offer both kind of service. No special education or experience is needed to start this business or ensure that you succeed, except your determination. However, you will need to be familiar with cleaning products and chemicals that would be required for your kind of business.
This is a business that could bring in some money for you by offering to write a business plan to those intending to start their own businesses but do not have the time to sit and write out a plan for themselves. You could offer different packages to your client and give them the choice of picking one that suits their budget. Ensure that you have business plan sample to show your clients.
To offer this kind of business, you would need to have experience, training or even a license, as you would need to know the main types of software and also hardware components. A license would ensure that people entrust their computers to you.
- Fashion and Clothing Business-: If you have got the talent for making clothing or jewelries, and intend to start it as a business, then you would need to identify your key customers and devise ways that will attract them to patronize you.
Before starting this kind of business, you would need to ensure that you are organized and a calm person, as this kind of business, requires one who is organized. You can start out this business by starting with events that are small in nature before graduating to handling huge events.
This is a business that depends on the demand for delivery from personal needs (such as home delivery of milk and bread), corporate stocks, to medical supplies. This means that there is always a delivery of some kind every day. Also, manufacturers and merchants are always seeking to deliver products to their retailers or consumers, which is how the courier service makes it.
- Export Specialist
Canada’s is one of the major exporters in North America and so if you decide to go into this business you will be making cool cash for yourself. You can teach the basics to those who need to know and ensure that your satisfied clients refer others to you so that your business would continue to grow.
As an interior decorator you could help those who are overwhelmed with decorating their new homes or re-decorating their old homes. You could make your task easier by asking your clients to fill in a questionnaire that would help you design their homes to meet their specific requirements. You would also need to have a flair for color and creativity.
- Bicycle Repair Business
Even though this might not be a business guaranteed to make you become a millionaire, it is a business that would bring you cool cash all the same. You could offer repairs to those whose bicycles need repairing, you would need to rent a shed for this kind of business, and can always offer other services coupled with your repair business.
- Editorial Services
This is a type of business that you can offer from the comfort of your home. You could carry out several editing services like copyediting, proofreading, developmental editing, indexing, book doctoring, copywriting, ghost writing, magazine article writing, book writing, or a web page content provider. You can combine several of the services, but ensure you pick those you are truly proficient at.
- Marketing Copy Writer
If you have a flair for writing persuasive words then you can totally go into this kind of business, and make good money from it. However, if you aren’t proficient enough, but are interested in going into this kind of business, then you could take a course that would ensure that you become savvy in the business of writing copies for catalogs, brochures, advertising, and also marketing copy for the web.
If you are a fitness guru then perhaps you need to start thinking of training others so that they can benefit from your experience. You would need a personal website to showcase your trainings especially if you visit the home of clients to help them personally train. Another thing that would be needed to promote your brand is your existence on social media platforms. You would need to be licensed as well as being trained in CPR in case of emergencies.
- Tax Specialist-: If you are one who knows how to prepare taxes then you have yourself a cash making venture, as several businesses as well as individuals are willing to pay good money to have someone else help prepare their taxes.
In every house, there is a large stack of used books kept in the attic or garage. You could turn this into a business. You would need to fix a price you would want to get people to bring in their used books, and also the price for those who are willing to buy from you depending on the kind of book it is.
- Wedding Planner
Becoming a wedding planner means you would be knowledgeable about wedding trends, dress styles, as well as color trends, and any other things that might be knowledgeable to your client. You would also need to have links to several liable wedding vendors, as you might be in charge of hiring the caterer or picking the venue.
Every household in Canada has several appliances; this means that going into this business will ensure that you have a steady supply of customers. You would first have to work on appliances for family and friends and then ask that they help refer you to their friends and family as well, and then watch your business boom, especially if you are proficient enough.
New businesses crop up everyday needing fliers, posters, brochures, magazines, and such other stuffs that might be required to promote their business. Also, existing businesses constantly need to remind their customers of their existence either via websites or other media. If you are good in graphics designing, then you can start this kind of business and help clients promote their business visually.
This kind of business requires that you carve out a niche for yourself by putting together gifts that would appeal to people in that niche. This kind of businesses is one that could fetch you good money especially if people come to know of your business.
This is a popular business and is usually quite lucrative. However, if you intend starting this business by yourself, you would need to have been trained, possess a license, and also have loads of experience. If people love the way you style their hair, then you would be setting yourself up for a steady stream of customers.
Everyone loves having a front yard but not everyone has the time and patience to get the yards tidied or grasses mowed. As a landscaper, you would help people tidy up their yards, have their lawns mowed, and help remove dead leaves. You could offer other services as well.
Before you become a massage therapist, you would need to be certified so that people can take your business seriously. You could offer to give clients a home service or have them come to your home, if you do not have the means to get a business place but you would need to be careful.
People who wants stuffs moved to another part of town usually require someone to help them move the stuffs especially if it involves heavy lifting. You can start this kind of business and ensure people know about you by placing your posters in strategic places.
- Music Lessons
If you are a skilled musician, you could offer music lessons to those who are interested in learning music or becoming better at their craft. You can teach people individually or offer group classes, whichever mode is convenient for you.
Photography is another lucrative business that you can go into as people everyday often wants their photographs taken. Even though the rise of smart phones and cameras has caused a decline in the demand for such services, there are still lucrative niches such as weddings, portraits of people and pets that you can go into.
- Website Developer
If you are good at designing websites then this is totally a business opportunity for you. As a website developer, you would need to have portfolios of your jobs so that potential clients could see and contract your services. This is a cool cash making business.
- Mobility Products
Every country has a sizeable chunk of senior citizens that make up its population, and Canada is no different. Most seniors reach a point where they are no longer able to move around without the aid of wheelchairs, walkers or canes. You could go into this kind of business and watch how you get a steady stream of cash.
Canadians love pets and this could be a business for you to look into. This kind of business is also recession proof, as most people still care for their pets regardless of how bad the economy is. You could help dog owners take their dogs for a walk, or could look after a pet for those who might be going on business or leisure trips.
There are people who need a place to unwind after a day’s work or during the weekend, your social club business if well structured could be where people come to relax or catch fun. You would have to ensure that your club is conducive enough to cater for all kinds of clients.
Parties are thrown almost every week but not many want to be bothered about getting the supplies themselves, this is the reason why they need one who would be able to being them party supplies at the location convenient for them. This is a business that needs you to provide quality products in a timely manner, as this would bring more clients to you.
- Shoe Line Business-: Shoes are a necessity that no one can do without. Also, almost everyone has at least more than a pair, and so you might decide to go into this business. You would need to decide which niche would be more profitable for you.
- Maternity Wears
Most people who are into clothing rarely consider this business, which makes it perfect for you. You could go into corporate maternity wears that are stylish; therefore going into a niche that would see you raking in a cool amount of cash.
This is a business that is definitely not seasonal and is guaranteed to bring money in for you steadily. Babies outgrow their wears quick enough and so your boutique would need to stock from between certain ages. If you have quality and colorful wears, your clients would keep coming back.
- Fashionable Lingerie Business-: This is a business that is not seasonal. Also, women are now attracted to fashionable lingerie as it has been said to be a confidence booster. This is a business that will continue to exist as long as women who are fashionable exist.
- Catering Equipment Leasing
No everyone who is going into the catering business have the money to purchase the necessary equipment needed, leasing catering equipment could be a good business for you to go into. However, if you choose to do the catering business in itself, then you have to learn some other menus and delicacy from other cultures.
- Bookkeeping Service-: Every business needs a book-keeper especially if that business is a small one. As a book keeper, you would need to be familiar with the various aspects of a business such as finance, management and marketing.
- Video Game Trainer
Why not turn that hobby into a business. If you are a guru in playing video games, you could offer to teach those who don’t by opening up a training center where they can learn to play games. You could offer additional services as well so that even professional gamers would seek your services.
If you are someone who loves experimenting with icing or have several ideas of how you think a cake should look like, or have crazy cake recipes in your head, then this is a business you should consider going into. The good thing about the business is that it isn’t seasonal, and almost every day someone needs a cake to celebrate something.
A B&B provides short-term accommodations that are usually in private homes or somewhere similar and usually comes with breakfast as part of its service. If you live in a big house that has spare rooms then you should consider going into this kind of business.
- Rental Property Business
The rental property business requires you be a landlord as well as business person, as it involves investing in real estate which includes residential properties, and apartment buildings. You would need to find out what requirements would be necessary for you before you start this business.
Even though most people own their cars, not everyone that own it can use it probably due to the fact that they aren’t around or such circumstances. To tap into this market it would require you to find a niche that will let you have a quick flow of cash; you could target incoming passengers from the airport.
This is another business you should consider opening after ensuring that your target area does not have too many bars. Your bar should be conducive enough for your clients. Also, to keep clients coming back, you could also develop your in-house drink recipes.
The construction business is quite challenging and competitive, however, you should think of the type of construction service you would want to offer – from general contracting to a highly specialized kind of restoration. However, this kind of business would require licenses and permits.
People are always looking for how to get rid of junk but some might not have the patience or time to so, which is why the junk removal business is in existence. Help people remove their junk for a fee; ensure that you put your posters in targeted areas so that people can get to you.
There are those who are of the school of thought that a wedding dress need not be bought since it can only be worn once, there are others who cannot afford a wedding dress and so would prefer renting. These are the kind of people that require your services.
- Fashion Stylist
If you are creative and make a fashion statement every time you dress, then you should consider becoming a fashion stylist to a celebrity, or dress up models for photo shoots. Your success will ensure that more and more clients patronize your business.