Do you want to start a business in Canada? And searching for profitable investment opportunities in Canada? Here in this post, we have accumulated some of the profitable sectors to invest in Canada and lucrative business ideas in Canada for citizens and immigrants.
Like other developed countries, the Canadian economy is dominated by the service industry, which employs three-quarters of Canadians. As per this report, there were about 1.19 million small businesses operating in Canada at the end of the year 2021. This is about 97.9% of the total number of businesses including medium and large scale.
According to the World Bank Group, Canada ranks 3rd in starting a business under the report of ease of doing business in Canada. It takes only a day to get the registration procedures done for a new initiative. In a report released by International Monetary Fund, Canada is the 10th largest economy in the world.
List of 52 Small Business Ideas in Canada
Automotive Business Ideas in Canada
The automotive service industry has huge potential in Canada. To complement the country’s wide manufacturing activities, the industry boasts a well-developed vehicle dealer network, plus an aftermarket organization that has grown into a world-class distribution system and service provider. This creates a number of small business opportunities in the automobile sector.
1. Tire Store
If you want to start a retail-based business in any city or town in Canada, a tire shop is a lucrative option you can explore. However. you need a strategically correct location for your tire shop. Check this business plan to learn more about starting a tire shop.
2. Automobile Service Station
If you have some experience in auto repairing or have a mechanical graduate degree from an institution in Canada, auto repair and service is a good business to start. To make more profit in this business, the location of the repair shop will play a big role.
The average Driving Instructor’s salary in Canada is more than $40,275 per year. There is a good demand for deriving instructors in Canada, especially in cities like Toronto. If you are good at driving or have a good network of driving instructors, starting a driving school can fetch you good returns.
You can provide services like conventional oil, filter, lube, and inspection service for regular cars or light trucks that require maintenance services at certain intervals. There are many companies in Canada making decent money providing oil change services.
You can start a car wash business in Canada with an investment of $25,000. Check around if there is a demand for car wash services from car owners in your nearby locality, a mobile car wash business is worth starting.
6. Spare Parts Distribution
If you have a retail space in a commercial location in a city or a small town in Canada, starting a spare parts selling is a profitable niche in the automotive sector.
If you have considerable money to invest, starting a vehicle towing service has a wide scope of making good money in Canada.
8. Catering Service Business
People look for catering services not only for birthday or wedding parties. Catering services are popular in every small get-together or small party or for a small number of guests. If you have a well-organized kitchen, a passion for cooking, and an attitude of serving people – the business is perfect for you. Local networking is important. Make your business available in local online directories.
9. Cleaning Service Business
You can start any type of cleaning business from home. The startup cost is very less. According to your skill, you can concentrate on the niche segment. You can also start a cleaning agency. Office cleaning, window cleaning, and air duct cleaning are popular cleaning business opportunities to start on a small scale.
Consulting Business Ideas In Canada
Experts and professionals from various different industry look for profitable consulting business ideas to do something different, enjoy more job flexibility, and make more money. Consulting is not a new phenomenon. It has been around for years. The consulting trend is continuing to build as companies are staying as lean as possible in tough economic times.
Do you have good experience in the field of advertising? If yes, an advertising consulting service is worth considering in Canada.
11. Image Consulting
Image consulting is all about advising people to look and feel better in order to appear in a confident way. If you are the one who understands a thing or two about beauty makeovers, image consulting is the business you can consider diving into.
Every small business nowadays looks forward to making a presence on the internet. This interest has created a demand for trained internet marketing professionals in Canada.
Public relations professionals in general work with print media, electronic media, and also digital media. The media industry in Canada provides a wide scope for professional public relations specialists.
14. SEO Consulting
Every business wants to get a higher ranking on internet search engines. If you have the knowledge and the tricks of search engine optimization, it is worth considering starting a business on SEO consulting.
15. Wedding Planning
Wedding planners are in high demand at present in the country. If you enjoy planning events and parties, a wedding planning business is the one that can fetch you good returns.
Beauty Business Opportunities In Canada
The beauty and cosmetics industry in Canada is booming, which is good news for entrepreneurs in the field of beauty. The Canadian Cosmetic Toiletry and Fragrance Association (CCTFA) reports that beauty in Canada is a $9.5 billion-a-year industry.
The beauty industry is steadily growing by 0.7% a year and there’s still ample room for opportunity, especially in Quebec, Ontario, and British Columbia. Although Toronto, Vancouver, and other major cities have competitive beauty industries – the rest of Canada offers little-to-no market saturation – which makes starting a beauty business much easier than in other countries.
16. Beauty salon
Beauty salons provide a wide range of services from cosmetic treatment and personal care. If you have some experience in makeover service and retail space, opening a beauty salon is worth considering in cities like Toronto, Ontario, etc.
17. Makeup artist
As a makeup artist, you will offer a variety of different makeup services. You may also make money by selling makeup and makeup supplies.
18. Nail Salon
Starting a specialized nail is another beauty-related business you can consider. The demand for manicure and pedicure services is expected to grow in Canada in the coming five years.
19. Mobile Spa
If you are an expert in spa-related services and do have not much money to invest, think starting a mobile spa can be a good idea. However, in addition to knowing the art, you need networking capability to make the business more profitable.
20. Barber Shop
A barbershop is an inflation-free business. If you have retail space and haircutting skills, getting customers is not difficult in small towns and cities in Canada.
21. Beauty Supply Store
If you have a retail shop space in a good location, starting a beauty supply store in Canada is worth considering. Other than buying equipment and accounting software, you need to invest in buying makeup and haircare-related beauty products in your store.
Online Business Ideas in Canada
Much like the rest of the global market, the e-commerce industry in Canada is on the rise. As more consumers shift spending from physical stores to online merchants, e-commerce has dramatically changed the way retailers reach customers, making it faster and easier for consumers to make purchases on the fly while avoiding the hassles of going to the store. Retail e-commerce sales are defined as the purchase or commitment to purchase goods or services over the Internet.
22. Start an Online Product Store Business
More and more people are showing interest in buying products online in Canada. If you are a small manufacturer or have a product distribution business, making an online shop will not only fetch more customers but also enhance brand growth.
For people who are not in the product-selling business but still want to enter the online selling space, dropshipping is a good alternative.
23. Freelance Writing Business
As more and more companies in Canada enter the online market, creating websites is becoming mandatory for them. And so is the demand for content writers is also growing. If you enjoy writing, starting a freelance writing business cab fetch good profits.
24. Become an Affiliate Marketer
If you are looking for a home-based online business with almost no investment in Canada, start an affiliate marketing business. As an affiliate marketer, you will be promoting the products or services of companies. When a sale is made through your effort, companies will pay you commissions.
25. Start a Niche Blog
If you are good at writing and have experience in a specific field of beauty, sharing your thoughts through a blog can fetch you good money. There are many in Canada making millions out of blogging. In addition, you can earn extra income by selling or recommending products and services.
26. Create Online Courses
Nowadays, there is a huge demand for online learning in almost countries across the world. And Canada is no exception. You can design an online course on a subject or subjects where you have certain expertise and have a good demand. Once your course is accepted by students, you start to earn recurring income.
27. Become a YouTuber
The popularity of YouTube is gaining day by day. There are thousands in Canada making good money running YouTube channels. If you have a passion and expertise in a certain niche, consider starting a YouTube channel and making extra money.
28. Virtual Assistant
The job of a virtual assistant generally revolves around administrative activities. It can be scheduling appointments, making phone calls, arranging travel for executives, or organizing emails. More and more companies in Canada are hiring people remotely for these jobs on a part-time basis. Check our detailed guide on how to start a virtual assistant business to learn more.
29. Online Surveys
There are plenty of online survey companies that provide survey job opportunities to Canadians. You can read this article to learn how to make money from online surveys.
30. Start a Digital Marketing Business
At present, digital marketing is among the top career opportunities in Canada as the demand for professional digital marketers is huge. As more and more companies are trying their best to attract customers in the online space, the need for qualified digital marketing personnel is expected to rise. One can start a small digital marketing company IN Canada even with a small investment of $5K.
Financial Service Business Ideas in Canada
31. Investment in Startups
If you have some extra money, investing in startups is a profitable business in Canada. Canadian investors can also invest in private syndicates which are in plenty here in the country,
32. Accounting Firm
Most small businesses in Canada look for professional accounting firms for their accounting needs. If you have experience in accounting activities, it is worth considering starting an accounting firm.
33. Debt Collection Agency
A collection agency is generally hired by a lender to help in collecting the debt that remains unpaid for a longer period of time. Talk with the competent authority in your locality, and understand the legalities to start a debt collection agency in Canada.
34. Forex Trading
Before starting a forex trading business, it is very important to understand how it works. In addition, it is important to choose a proper forex trading platform.
To start a bookkeeping business, you don’t need to have any formal qualifications. If you are good at numbers and have some years of experience, consider offering bookkeeping services to customers.
Handyman Business Ideas in Canada
36. Air Conditioning Service
Canadian winters and hot summer days require heating and air conditioning systems in their homes. Installing and maintaining warming and cooling systems create a profitable business opportunity in Canada. Hence if you have some experience in this field, starting an HVAC business can be a lucrative venture.
37. Appliances Repair Service
There is a good demand for repairing appliances like a refrigerator, washers, dryers, stoves, ovens, dishwashers, etc in every city and town in Canada. You can get trained in appliance repair and start a small venture.
The business of CCTV installation is getting momentum here in this part of the world. However, to start this business you need to learn the technical aspects of installing and maintaining these devices.
39. House Painting
House painting is another service that has good demand in almost all cities and towns in Canada. You can start this business by hiring some people having expertise in this trade.
Home-Based Business Ideas In Canada
Home-based business opportunities are great solutions for many individuals either as part-time or full-time income alternatives. Successful home businesses are real businesses.
To turn a home business opportunity into a success, you need to be prepared to work at it and have the appropriate knowledge and skills that you need to run any business. Find below, some of the most potentially profitable business ideas for people staying in Canada.
40. Property Management
Real estate owners and landlords in cities like Toronto, and Vancouver are always looking for dependable and professional property managers in selling their properties. As a property manager, you will act as a facilitator between real estate buyers and sellers.
41. Bed and Breakfast
A Bed and Breakfast or B&B business is all about leveraging the extra rooms of your home for people looking for short-term accommodations. The guests are provided with breakfast as a part of the service. You will plenty of B&Bs coming up in cities like Toronto, Quebec City, Calgary, Montreal, and Vancouver presently. You can start also start a bed and breakfast business if you have spare rooms in your home.
Graphic design is a highly-paid job online. If you have a passion for creating art, this business can give you good money from home.
You can start an alteration service business in many different ways. Right sewing knowledge and experience are needed. You can also take some classes for different types of sewing and designs. You can start at a retail location. Otherwise, as the home-based. A home-based operation allows for eliminating the cost of real estate. It will also help you in securing a customer base with a minimum overhead cost. You can operate the business part-time also.
Interior design is a highly-paid job in Canada. However, to be a professional interior designer, you need to be certified. In addition, you have to have certain years of working experience in the job before offering services as a professional.
45. Pet-Related Business
The pet industry is growing rapidly worldwide. People are buying more pets nowadays and spending a lot of money on them to give the ultimate comfort. The attitude and sentiment behind this are the majority of the population now considers their pet to be a member of the family. In this scenario, starting a pet-related business from home is just a wise decision.
46. Sports Business
Sports industries accounted for 105,200 jobs, a 0.6% share of the total economy. Almost 90% (93,200) of the jobs in sports industries are sports jobs, but the sports industries also contribute non-sport jobs (12,000 jobs) to the economy.
The potential segments of sporting and athletics are baseball, basketball, billiards, fishing, football, golf, gymnastics, hockey, pool, racquet sports (e.g. tennis, squash, etc.), and specific equipment such as sailboards, skates (ice and roller), exercise machines, snowshoes, skis, swimming pools, and playground equipment.
47. Security Business in Canada
If you are interested in starting a security-related business in Canada, it is vital to choose your niche. There are multiple niches you can consider like home security, personal security, event security, security for automobiles, etc.
The demand for a professionally managed security company is a reality. Check this article to learn more about different security businesses you can start in Canada.
Upcoming Innovative Business Ideas in Canada
48. Blockchain Supply Chain Development Company
The business of import-export is big in Canada. Business owners often complain about the long waiting times to get clearances in getting goods transported. If you have experience in blockchain and foreign trade, developing a blockchain supply chain can be hugely profitable in the country.
49. Immigration Consultant
People from all across the world come to Canada and take citizenship. However, there is always a demand for professional immigration consultants here in this part of the world. If you have the necessary experience, you can start this business at a low cost.
50. Marijuana Regulatory Management Consultancy
Cannabis is now legal for both recreational and medicinal purposes in Canada. The legal age to purchase and consume marijuana in the country is 19. However, dispensaries and people related to the business are yet to understand and implement the exact laws associated with the trade. Hence the demand for consultants who know the law and can guide them is rising.
51. Electric Car Charging Station
Canadians are mostly eco-friendly in nature. More and more people here are using electric vehicles for transportation. As a result, the need for electric car charging centers is also growing. This business can bring big profits in the present future in Canada.
52. Become a Renewable Energy Consultant
The price of gas is rising in Canada. And more Canadians are looking for energy alternatives for electricity needs. If you have the necessary expertise and knowledge, there will be no dearth of customers in Canada for sure.
Frequently Asked Questions
How to Start a Small Business in Canada?
You need to follow some basic steps to start a business in Canada. Some of the important steps are listed below:
- Choose a Business Idea
- Create a Business Plan
- Select a Name for your Business
- Register Business
- Get Licenses and Permits
- Apply for a CRA Business Number
- Open a Business Bank Account
- Buy Business Insurance, if needed
- Arrange Funds
- Have a Marketing Plan
What are the Best Places to Start a Business in Canada?
Location plays a vital role in the overall success of a business. Some of the best cities in Canada that provide good support for startups in Canada are listed below:
- Quebec City
- St. John’s
How Much Does it Cost to Start a Business in Canada?
The approximate cost of starting a legally-compliant small business in Canada will be around $5000 to $10000. However, if you are innovative, there are a number of businesses that can be started with almost no money here in this country.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.