15 Best Business Ideas To Start In Canada (2022): Be A Boss

Starting a small business is a huge step. While there is a certain amount of risk involved in starting any business, the right idea could be your key to financial freedom. If you have an entrepreneurial spirit and you’re looking for the best business ideas to start in Canada, then look no further!

98% of employers in Canada are small businesses. If you’re ready to join their ranks and build a business from the ground up, here are some creative business ideas to get your thoughts flowing.

Is It Easy To Start A Business In Canada?

Starting a business is usually a lot easier than it seems. Realistically, the only things you need to start a business in Canada are:

  • An idea (and hopefully a business plan)
  • Business number from the CRA
  • Business licenses from your province
  • Business license from your city
  • Business bank account

Once you have your idea, you can register your business name with the CRA to receive a business number (BN). This is what you’ll use for federal tax purposes, and it’s 100% free.

With your government-issued BN, you’ll then be able to apply for a business license through your province. This can cost anywhere from $75 to $300, depending on the type of business you’re starting and provincial regulations.

In total, starting a business in Canada can cost as little as $500, if you file for all of the paperwork yourself (rather than hiring an accountant).

Best Business Ideas To Start In Canada With A Low Investment

Starting a business doesn’t have to cost an arm and a leg. Here are some simple business ideas that you can start with little to no money in Canada.

1. Social Media Marketing Agency

Social Media Marketing Agency
  • Average Investment Needed To Start: None
  • How Much You Can Make: $1,000 – $10,000+ per month
  • How To Start: Learn social media marketing, work with local businesses

Local businesses often need a lot of help when it comes to social media marketing. Many small business owners simply don’t have the time or skills to tap into the power of social media.

If you have a good mind for marketing and know your way around social media apps like Instagram, Facebook, and TikTok, you can leverage your skills for money.

The hard part is finding clients. I suggest starting off by offering a low-cost service to a friend’s business and then asking them to refer you to more clients. Let your work speak for itself, and soon you’ll be able to charge clients $500 a week or more to manage their social media profiles.

2. Coffee Stand

Coffee Stand
  • Average Investment Needed To Start: $2,000 – $3,000
  • How Much You Can Make: $1,000 – $10,000+ per month
  • How To Start: Buy coffee materials, sell at events

According to CBC, Canadians drink more coffee than just about any other country in the world. Starting a small coffee stand is a great way to tap into this ever-growing market. A simple stand might consist of:

  • A small food cart or collapsable table
  • Several large coffee carafes to store brewed coffee
  • Paper cups, lids, and sleeves
  • Flavoured syrups
  • Sugars and creamers

A great way to earn money with your coffee stand would be to register with local events, such as sports matches, car shows, or local festivals. Early morning events tend to be more profitable, as people are already used to drinking coffee in the morning.

3. Window Cleaning Business

Window Cleaning Business
  • Average Investment Needed To Start: $300
  • How Much You Can Make: $1,000 – $8,000+ per month
  • How To Start: Buy window cleaning materials, advertise to local businesses and homes

Window cleaning is an incredibly simple service that almost all storefronts and residential homes need. The materials are usually very cheap and consist of:

  • Buckets
  • Towels
  • Squeegees
  • Window cleaning solution
  • Brushes

You’ll also probably need a ladder to reach higher windows. For commercial jobs that require a higher lift, you can always rent a lift from an equipment rental company. Retail storefronts are likely going to be your best customers, though, and most windows are less than 15 feet tall.

Most window cleaners charge a set rate per pane or based on the square footage of the glass.

4. AirBnB Rental (Rental Arbitrage)

AirBnB Rental (Rental Arbitrage)
  • Average Investment Needed To Start: $3,000 – $5,000
  • How Much You Can Make: $500 – $6,000+ per month
  • How To Start: Rent a property under your name, then list it on AirBnB for more

Rental arbitrage is one of the best ways to get into real estate with minimal investment.

The process is incredibly simple too. All you need to do is rent an apartment, condo, or home under your name. Then, you can list that property on AirBnB as a short-term rental.

Let’s say that your monthly rent is $2,000. If you list it on AirBnB for $180 per night and have a 75% occupancy rate, then you could earn over $4,000 per month.

Be careful with this strategy though, as it might violate terms of rental agreements, so make sure to read the fine print.

5. Painting Company

Painting Company
  • Average Investment Needed To Start: $1,500
  • How Much You Can Make: $1,000 – $10,000+ per month
  • How To Start: Buy painting supplies, paint homes and businesses

You can purchase a decent spray painting machine, paint rollers, brushes, a ladder, and tape for around $1,500. Once you have your tools, you can sell your services to homeowners and small businesses.

You can earn up to $500 for painting small bedrooms and up to $10,000 for painting an entire home interior. Prices are subjective based on quality and difficulty, which allows you to set your own prices.

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Best Business Ideas To Start In Canada With At Least $50,000

If you’re working with a little bit more money, here are some of the best business ideas to start in Canada with around $50,000.

6. Food Truck

Food Truck
  • Average Investment Needed To Start: $35,000 – $50,000
  • How Much You Can Make: $500 – $8,000+ per month
  • How To Start: Buy a food truck, market it, and sell food

If you’re a decent chef or have a unique food idea, then a food truck is a great way to get into the industry without having to invest hundreds of thousands into a full-blown restaurant.

You can purchase pre-built food trucks for around $30,000. Then, you’ll need to get it wrapped with your logo and modify the kitchen space to your needs.

The hard part is advertising and growing your business. Once you’re popular in your local area, though, your food truck can earn thousands of dollars per week by setting up in a regular location or selling food at events.

7. Landscaping Company

Landscaping Company
  • Average Investment Needed To Start: $25,000 – $60,000
  • How Much You Can Make: $2,000 – $15,000+ per month
  • How To Start: Buy landscaping equipment, a truck, and a trailer

If you like working outdoors, then a landscaping company can be very profitable during the spring and summer months. You’ll need to account for the following equipment to start:

  • Push mower: $200
  • Riding mower: $10,000
  • Pickup Truck: $15,000 (used) $40,000 (new)
  • Equipment trailer: $7,000
  • String trimmer: $650
  • Edger: $650
  • Hedge trimmer: $500

Once you build your customer base, it’s a business that you can scale by hiring employees. If you’re concerned about not having business in the winter, you might have to pivot to something like snow removal during that season.

8. Sell With Amazon FBA

Sell With Amazon FBA
  • Average Investment Needed To Start: $10,000 – $50,000
  • How Much You Can Make: $100 – $20,000+ per month
  • How To Start: Buy wholesale items, store them in an Amazon warehouse, sell them online

Amazon FBA (fulfilled by Amazon) is an interesting way to earn passive income. It involves purchasing wholesale products at a bulk discount, listing them on Amazon for retail price, and sell it for profit.

With the FBA program, you won’t have to lift a finger. You can ship your inventory directly to Amazon, where it will be safely stored. They’ll handle all shipping and handling for a cut of your profits.

All you have to do is set up your online store. The most important part is to make sure that you do your product research and find a good niche product that’s in high demand or trending. There is risk involved though — if your product does not sell, you could be out your entire investment.

9. Commercial Cleaning

Commercial Cleaning
  • Average Investment Needed To Start: $30,000 – $50,000
  • How Much You Can Make: $1000 – $7,000+ per month
  • How To Start: Buy cleaning tools, truck, and trailer, then advertise to businesses

If you don’t mind late nights, then commercial cleaning can be a great source of income. You’ll usually be cleaning large offices, restaurants, warehouses, or factories after hours.

To start, you’ll usually need a good floor-cleaning machine and possibly a floor polisher as well. You’ll also need lots of mops, commercial vacuums, and a truck-and-trailer setup to store everything in as well.

10. Mobile Pet Grooming

Mobile Pet Grooming
  • Average Investment Needed To Start: $40,000
  • How Much You Can Make: $500 – $10,000+ per month
  • How To Start: Buy a large Sprinter-style van, equip it with grooming tools

If you like animals, this is a great way to earn money. The pet grooming market is constantly growing, so your services will always be in demand.

To start with, you’ll need a large climate-controlled van that can hold all of your grooming equipment. This will be your biggest investment. Then you can market your services online and through local pet stores and shelters.

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Best Business Ideas To Start In Canada With At Least $100,000

If you have access to around $100,000 in capital, here are some profitable business ideas to start in Canada.

11. Purchase A Rental Property

Housesit
  • Average Investment Needed To Start: $30,000 – $100,000
  • How Much You Can Make: $5,000+ per month
  • How To Start: Buy a property, rent it to tenants

$100,000 is enough to make a 10% down payment on a $1 million property, and depending on where you live, that could be a multi-unit household. Rent out each of the units and make sure that your income covers your mortgage, taxes, and maintenance/repairs. You get to keep the difference.

12. Car Rentals

Car Rentals
  • Average Investment Needed To Start: $50,000 – $100,000
  • How Much You Can Make: $5,000+ per month
  • How To Start: Buy cars, rent them out on Turo

With $100,000 you could purchase two or three used luxury-style vehicles and rent them out on Turo. Turo is an app that works like AirBnB, allowing owners to rent vehicles out to drivers.

A $30,000 vehicle can be rented for up to $100 per day or more. You can rent vehicles on a daily or weekly basis. If you want the business to be truly passive, you can hire a driver to deliver the vehicles to customers.

13. Create a Coworking Space

Create a Coworking Space
  • Average Investment Needed To Start: $80,000 – $100,000
  • How Much You Can Make: $2,000 – $20,000+ per month
  • How To Start: Buy an office space, furnish it, rent it out to members for a monthly rate

Now that remote work has become the new normal, coworking spaces are a great way to capitalize on commercial office space. You can buy or rent a commercial office space, furnish it with modern desks, printers, chairs, and other office supplies and rent the space out to members.

It works just like a gym — members pay for access and can come and go as they please. You just have to pay a daily cleaner and keep up with utilities.

14. Heavy Equipment Rental Company

Heavy Equipment Rental Company
  • Average Investment Needed To Start: $35,000 to $100,000
  • How Much You Can Make: $4,000 – $20,000+ per month
  • How To Start: Buy heavy equipment, rent it out to contractors

Many contractors don’t own their own heavy equipment. When large jobs come up, small contractors often pay thousands of dollars per week to rent front-end loaders, excavators, tractors, and more.

All you have to do is keep up with maintenance on the equipment and have a space to safely store the equipment when it’s not being used.

15. Luxury Spa

Luxury Spa
  • Average Investment Needed To Start: $100,000
  • How Much You Can Make: $3,000 – $15,000+ per month
  • How To Start: Build a high-end luxury spa, hire aestheticians, market it

High-end spa treatments can easily cost hundreds of dollars. By creating a luxurious space and hiring licensed professionals, you can create a one-of-a-kind luxury spa that caters to high-end clients who want to treat themselves.

The beauty industry will never go out of style. You just have to market it the right way.

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Conclusion

Best Business Ideas To Start In Canada

I hope this inspired you and gave you some ideas to build on. There are countless profitable business ideas out there, and the chances are that the best one has never been discovered.

The market rewards innovation and risk, so the more creative and bold you can be with your business, the more you stand to earn (and also possibly lose, so be sure to do some market research first!)

If you want to learn more about how to save money to launch your dream business, be sure to check out my guide to saving money in Canada, so you can start building capital.

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Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Wealthawesome.com. Read about how he quit his 6-figure salary career to travel the world here.

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