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What kind of business should you start?



This is always the hardest part of the process—knowing where to start. It should go without saying that you should start with what you know. If you have experience in a field that could translate into a business opportunity, go for it. But, if you’re thinking of diving into a business you know nothing about, you may want to think twice. You will, after all, be putting your own money and possibly someone else’s cash at risk. So be careful. If you’re still in the planning stages of your entrepreneurial journey and just need some ideas to get you going, here are a few business opportunities in Canada that are great options right now. We are highlighting some examples that are in high demand in Canada. If you need assistance in starting any of these businesses, we are here to help you.


E-commerce

You don’t need to read an article to know that e-commerce is big business. E-commerce has all but eclipsed traditional brick and mortar storefronts in many markets and shows no signs of slowing down. While giants like Amazon dominate the e-commerce marketplace, there are still plenty of needs that can be met by smaller retailers. There’s also plenty of money to be made selling your own products on Amazon or other marketplaces. With a low barrier to entry, e-commerce is a good place for new entrepreneurs or those without specialized skills to get started and, hands down, one of the best business opportunities in Canada right now.

Real Estate

Investing in or selling real estate is one of those things that is just not going to go away or become unprofitable. If history is any guide, then it’s pretty clear that those who own property tend to have a greater degree of wealth and security. That being said, investing in or selling real estate isn’t without risk, but if you’re careful, do your homework, or learn from someone with experience it can be a very profitable business. In order to sell real estate, you will need to seek out training and obtain a licence, so be prepared to do a little work before you dive in.

Pet Services

Canadians love their pets—especially dogs. For many pet owners, caring for and pampering their animals is a top priority. Why not take advantage of this lucrative niche? The great thing about the pet services business is that there are so many opportunities within it. From a pet daycare to a dog walking or grooming service, the opportunities are endless. The great thing about this business opportunity is that you probably won’t need specialized experience or training—just a love for animals. A pet services business is definitely a great business opportunities in Canada.

Financial Consulting

Independent financial advisors or brokers offer a number of financial and insurance products and services to clients. If you have experience in the world of finance, striking out on your own could be a great business opportunity.
Depending on what you’d like to offer, this one will require special licences or certifications, so having some experience in the field is probably a good idea.
Computer or Mobile Device Repair Service
Computers, phones, tablets … we’ve all got them. And, unfortunately, they all seem to break or have problems at some point. So why not be the guy, or gal, to fix them?
The device and computer repair business are booming. From individuals to large corporations or government agencies there’s plenty of places to ply your trade. You may want to seek out some training or certifications if you choose this route, but most of what you’ll need to know can be self-taught or be learned from someone with more experience. Either way, this is one of the best business opportunities in Canada going right now.

Courier Service

If you’re located in a large urban area, you know there’s no shortage of items that need to be delivered to and from both businesses and individuals.
With a cleaning business, you could serve residential customers, commercial, or both. The possibilities are quite broad in this business and the customer base is massive. While it may not sound glamorous, a cleaning business is easy to start and find customers for. You don’t need special training or licences, just a willingness to work, cleaning supplies and equipment.

Bicycle Repair Business

The popularity of bicycles has really surged in the past 20 years—especially in urban areas. Bikes have become a vital form of transportation and fun for many Canadians.
If you’re a fan of bikes and know your way around one, opening your own repair business may be a viable business option for you.
While special training is not necessarily required, it may help to earn one of the industry standard certifications.

Mobile App Development

With the proliferation of smartphones and tablets, the app market is booming. While it may seem like a tough market to break into, just remember that many successful apps have come from small developers.
If you’re a fan of bikes and know your way around one, opening your own repair business may be a viable business option for you.
If you have a background in software development or a penchant for managing projects, app development is one of the strongest business opportunities in Canada, or anywhere, right now.

Hair Salon

While this option may not sound like the most glamorous, forward thinking business idea, hair salons fulfill a need for many people.
If you’re a fan of bikes and know your way around one, opening your own repair business may be a viable business option for you.
Think about it: do you cut your own hair? Does anyone you know cut their own hair? Probably not. But, you probably do shell out money month after month for haircuts and styling. No matter what the economy looks like, men and women everywhere will be pulling together the money to pay for a haircut.
Opening a hair salon is a little bit more of an endeavour than many of the other options covered in this list, but could really pay off in the long run.

Transportation Services

Opening up a taxi service probably isn’t the greatest idea in the age of Uber, but there are plenty of other transportation service businesses thriving right now.
Think about it: do you cut your own hair? Does anyone you know cut their own hair? Probably not. But, you probably do shell out money month after month for haircuts and styling. No matter what the economy looks like, men and women everywhere will be pulling together the money to pay for a haircut.
Some transportation service businesses to consider are medical transport, bus services, and trucking.
Many of these industries require special permits and licensing, so make sure you do your research if you don’t know the industry.

Event Planning Services

Here’s another tried and true service that’s easy for most people to start.
You’ll need a solid understanding of how events like weddings are planned and managed, but beyond that, you do not need special training.
You might want to start small, but getting off the ground with event planning won’t be difficult.

Personal Trainer

If you’re a fitness guru, here’s your outlet.
The fitness industry has been booming for years and looks likely to continue that trend well into the future. With the sedentary nature of the western workplace and lifestyle, people are always looking for help to combat obesity and poor health.
Personal trainers are typically licensed, but it’s not a lengthy process. If you already have a good understanding of fitness and the industry, you can get up and running pretty quickly.

Landscaping Services

Maintaining a nicely manicured lawn is hard work. And it’s work that many people simply don’t like to do.
Much like a cleaning service, landscaping is not glamorous work. But it’s a service people need and are willing to pay for.
If you’re capable of doing the work and can afford some equipment, it’s not hard to get started and learn the trade.

Freelance

If you’ve been in the workforce for any amount of time, you have likely developed a set of skills and proficiencies. No matter how trivial you may think your skillset is, it’s worth something to someone.
If your employer is already paying you to do it, the odds are pretty good that someone else needs a skill you have and is willing to pay for it.
If you’re having trouble coming up with a business, make a list of the skills you have and take a look at some of the popular freelance websites—like Freelancer—to see if there’s a market for them. You don’t have to limit yourself to these marketplaces, but they can give you a good idea of the types of work available. With our rapidly changing world, freelancing is a growing opportunity in Canada.

Personal Accountant and Budget Assistant

During tax season, a lot of the paperwork with costly fees could be avoided if all the information and data was tracked along the way. This business idea would require high investment, but it could solve that problem for Canadians. A secure platform would collect information from the bank accounts and CRA account, and then compile all your budgeting and tax filing automatically. If you are passionate about the banking and technology crossover, this would be a great company to start as the Fintech industry is attracting a lot of investment and growth.

Renewable Energy Consultant

Canadians are always looking for ways to utilize more renewable energy. As gas prices becoming higher and higher (for a multitude of different reasons) there is more demand for energy that is self-sustaining and can be a more affordable alternative. If this interests you, one could launch a renewable energy consulting business. There are a few different approaches you could take, one is working with cities and governments on how they can utilize renewable technologies and invest in the sector. Or you could target the end consumer and charge a consulting fee to recommend and install the right renewable energy equipment for their needs, area, and home.

Electric Car Charging Stations

Electric car sales are steadily increasing year over year, partly because Canadians want to be more eco-friendly, and it can also save a lot of money. However, the one reason that keeps more people from buying them is the car charging stations. If there are more charging stations in place, more electric cars will be bought and this company could grow. You could start out by getting contracts with condo developments to install a few electric car charging stations, with the ability to charge people by the minute in the future. Most of the infrastructure is built so some solid sales skills and hustle could bring you far with this idea.

Rural Internet Infrastructure Developer

Canada has mandated that internet is a basic need for anyone living in Canada. They have also started providing grants for companies who build infrastructure and provide internet to people in rural areas like the northern part of Canada. If you have an interest in industrial internet infrastructure, this idea would need some sizeable investment, but there are long-term benefits as it could potentially be a monopolized market.

Third Party E-commerce Distribution Centre

Many small businesses in Canada are feeling the wrath of Amazon’s power when it comes to their ability to distribute products across Canada for such a low price. However, these small businesses may be willing to pay a monthly fee to help avoid going out of business due to the shift to e-commerce. This company would help them distribute their products to their customers in local or regional areas. You would begin by setting up a warehouse and a small distribution network that can ship goods. Then you could make relationships with small businesses who don’t have the resources to start their own distribution network and warehouse, and charge them a monthly fee for doing so.

Entrepreneurial Bootcamp Company

Entrepreneurial skills are in high demand. A large portion of post-secondary graduates want to start a business and be their own boss, but they don’t know how and where to start. This is where the entrepreneurial bootcamp company could come in. One could use a franchise business model, build a solid foundational program that has success in people’s lives, and try to roll it out across Canada. If you are new to entrepreneurship, this could still be done with tips and strategies from successful entrepreneurs as a helping hand. This business could also be executed with a low startup cost.

Transportation Services

Programming Private School Franchise

There is a huge demand for more programmers and coders in Canada. Specifically in the big cities like Vancouver and Toronto. This demand comes from the weak supply of talent that comes from the school systems, as there is not enough programming schools that give the students the skills they need for on the job. Instead, many are forced to spend more time and money on other courses, and when they graduate, there is a lot of competition from large US companies to hire them. This idea for Canada will help fill that gap, and create a program and course that could be franchised across Canada. Passion or experience for teaching and coding would be a must. This idea could start small if you began with a single franchise to test it out, possibly in Vancouver or Toronto.