If you’re looking for the best business to start in Canada, you’ve come to the right place. In this blog post, we discuss 12 profitable business ideas that are perfect for Canadian entrepreneurs.
These businesses range from online companies to brick-and-mortar stores-. Whether you’re -a new or seasoned entrepreneur, this list will provide you with valuable insight into what’s expected to be profitable in 2022.
What is the best business to start in Canada? 12 Options
Whether you want to work from home alone or you love working with people and socializing, running your own business is one of the best ways to build a career that inspires you for years to come.
We’ll start with the more accessible options that require minimal investment and work towards more complex ideas.
Online Courses and Coaching
People are often looking to improve their lives through online courses and/or coaching, making it a great business opportunity. There is a huge demand for online courses and coaching in areas such as business, fitness, health, and relationships.
Starting an online course or coaching business is relatively easy and can be done with little to no upfront investment. All you need is a laptop, an internet connection, and some knowledge in your chosen field. If you’re not sure where to start, platforms like Udemy and Skillshare are great for creating and selling online courses.
As a business owner, you’ll be able to set your own hours and work from anywhere in the world. This is a solid option for entrepreneurs who want the freedom to travel or those who want to work from home.
eCommerce Store
Starting an eCommerce store is another online business idea that can be done with minimal investment. It’s a great way to sell products that you’re passionate about.
Many platforms, such as Shopify, WooCommerce, and SquareSpace, make it simple to create an online store. You’ll need to choose a niche for your store and stock it with products that you know your customers will love.
You’ll likely need to create marketing materials and a social media presence to reach your target market. Starting an online store is a good option for entrepreneurs who are creative and have an eye for detail.
Freelance Writing
If you’re a talented writer, you may want to consider starting a freelance writing business. This suits entrepreneurs who want the freedom to work from home (or anywhere else) and set their own hours.
Many platforms are available to help you find clients, including Upwork, Fiverr, and Freelancer. To get started, you’ll need to create a portfolio of your work and market yourself to potential clients. If you’re passionate about writing and have strong communication skills, this may be the entrepreneurial path for you.
Marketing Agency
If you have a knack for marketing and understand the digital landscape, starting a marketing agency requires little to no up-front investment. You can offer digital services such as social media marketing, content marketing, and email marketing to businesses of all sizes.
One of the best aspects of offering marketing services is that you can practice and apply the same skills on behalf of yourself and your clients.
Web Design
Web design is a digital service in high demand. While knowing code can be a benefit, it’s not a skill you necessarily need to be a proficient web designer these days. If you have a good eye for design and an understanding of web design basics, starting a web design business may be an option worth considering.
Because most businesses require a website, there’s always a demand for web designers. You can start your own web design business with little to no upfront investment and work from anywhere in the world.
This is a great option for entrepreneurs who are creative and have an eye for detail.
Translation Services
If you’re bilingual or multilingual, why not use your language skills to earn an income by starting a translation business?
Starting a translation business requires minimal investment and enables you to work from home or anywhere else you find suitable.
This is a great option for entrepreneurs who are passionate about language and enjoy helping others connect.
Childcare
Whether you start your own daycare or become a dedicated caregiver for one family, providing quality childcare can be a rewarding way to earn a living.
If you have extensive babysitting experience or have worked at children’s camps, these may be good sources for initial references.
Childcare is a great option for entrepreneurs who love working with children and have the patience and energy to care for them over long hours that often begin early in the morning.
Pet Sitting
Whether you live in a big city or a small town, chances are high that plenty of people own pets. And as much as pet owners love their furry (or not so furry) friends, they don’t always have the time to take care of them.
As a pet sitter, you would provide care for people’s pets when they are unable to do so. This can include feeding, walking, and even providing medication if necessary.
A physical office or storefront is optional for a pet sitter because the job often entails caring for pets at clients’ homes.
This is a great business for you if you love animals and want the flexibility of creating your own schedule.
Food Trucks
If you like cooking, meeting new people, and working at a variety of locations, owning a food truck may appeal to you.
Food trucks have become increasingly popular in recent years, as they offer a unique dining experience that is often more affordable than traditional restaurants.
To start a food truck business you will need to invest in a quality vehicle and kitchen equipment, as well as obtain the necessary permits from your city or town.
You’ll also need to create an enticing menu that will appeal to your target market. To attract food lovers and differentiate yourself from the competition, you may want to focus on a niche cuisine.
This business idea is ideal for entrepreneurs who are passionate about food and cooking.
Restaurant
If you love serving delicious food and want to build a larger business, starting a restaurant may be the best option for you.
While restaurants require a significant investment, they also have the potential to be very profitable.
To start a restaurant you will need to find a suitable location, develop a menu, hire staff, and obtain any necessary permits or licenses.
You’ll also need to create an inviting space that reflects your culinary vision and attracts customers.
This is a great option for entrepreneurs who want to be in charge of their own bricks-and-mortar business and have a passion for food and cooking.
Sewing and Tailoring
If you’re skilled at sewing or tailoring, you may want to start a sewing and tailoring business.
This type of business is best suited to those who have experience working with fabric and repairing or creating garments.
To get started, you’ll need to invest in a quality sewing machine, as well as find a suitable workspace.
You’ll also need to develop a price list for your services and promote your business to potential customers.
This is a great option for entrepreneurs who are looking for a creative and challenging business venture.
Landscaping and Yard Maintenance
If you have a green thumb and enjoy the outdoors, starting a landscaping or yard maintenance business may be worth considering.
This type of business is best suited to those who are physically fit, have experience caring for gardens and lawns, and have worked with tools and gardening equipment.
To get started, you’ll need to invest in the appropriate tools and equipment, as well as a reliable vehicle that fits your equipment.
A benefit to running a landscaping business is that your work is like an advertisement. If you create a beautiful front yard for a customer, it can lead to referrals to their neighbors.
Landscaping and yard maintenance is perfect if you love working outside and meeting new people.
Which business ideas work best in Canada?
Whether you’re looking to start a profitable small business from home or build a well-known brand it’s important to consider factors such as competition, seasonality, and startup costs.
Competition
Competition is a factor every new business needs to consider. You want to be sure that your product or service is unique and that there’s a market for it. Your business will be one among many small businesses competing for customers’ attention and dollars.
To stand out from the crowd, you’ll need to create a unique selling proposition (USP) for your business. Your USP should explain exactly what your company provides in a way that differentiates you from competitors.
Another competitive factor to consider for bricks and mortar businesses is location. For example, even if there are a lot of restaurants in your city, if they are mostly concentrated in specific areas then you may be able to do well by choosing a more unique location or creating a food truck to serve those areas.
Seasonality
Seasonality is critical to consider when starting a business in Canada because the country experiences four distinct seasons.
While some businesses do well year-round, the success of others relates to the seasons. For example, a landscaping business will likely have more work in the spring and summer months than in the fall and winter.
If you’re considering starting a seasonal business, you may want to consider maintaining a part-time job during your less active months. Another option is to offer different services during the off-season. , such as landscaping in the warm months, and snow removal during the winter months.
Startup Costs
An important factor to consider when choosing a business idea are the startup costs.
Some businesses require a significant investment of money and time, while others can be started with just a few hundred dollars (or less).
It’s important to choose a business that you can afford to start and that you believe has the potential to quickly earn back your initial investment.
How to plan and start a business in Canada
There are many resources available to help you get started on your entrepreneurial journey, and you’ve already found one of the best. Ownr can help you register your business, as well as manage annual returns and other important legal processes across the lifespan of your company. Another great resource is the Canadian government’s business portal. Here you’ll find information on applying for a business license, and how to apply for government grants and loans.
You can also check out your local Small Business Centre if one is available. These often include free resources and workshops on how to start and grow a small business in your province.
Once you have an understanding of how starting a business in Canada (and in your province) works, you will want to create a business plan to act as your guide.
How to decide what business to start in Canada
If you’ve dreamed of being your own boss, and achieving financial independence, starting a business may be the answer. However, choosing which type of business to invest in can be challenging.
The best business idea will likely combine your skills, passion, and work or life experience. For example, if you’re skilled at managing people and have experience and interest in the culinary arts, a restaurant may make sense. If you have those same skills but prefer working alone, a food truck may be a better option.
Take the time to research your options, and don’t be afraid to ask for help from those with experience.
Before making up your mind, take a close look at the existing businesses that operate in your area. What do they do that makes them successful, and how can you emulate that success while providing a unique and valuable experience to your customers?
Answering those questions and delving into your own interests and experiences will help you carve out the entrepreneurial path that’s best for you.
With careful planning and execution, you can start a successful business in Canada.
This article offers general information only, is current as of the date of publication, and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates.