Top 5 Best Business Ideas For Canada –Here’s How Much You Need To Invest And Can Earn
Canada is one of the highly developed nations that offer a great quality of life. That is the reason there has been a massive increase in the number of people immigrating to the country. Of course, the immigration rules being quite flexible have also contributed to the increase in the number of people lining up to get a permanent resident visa.
If you are a student or a skilled person, it is comparatively easier to get an entry into Canada. But if you are planning a business, what possibly could you do? And what can work best with little investment in Canada? Here are a few such best business ideas that can not only help you sustain but also thrive in the country.
If you have the right mix of expertise that includes a hawk’s vision for details, social media connections, and know-how and a good hand at using the latest digital technology then you can surely earn a decent amount as a photographer in Canada. For that, you will need to invest in a high-end professional camera priced between $2,000 and $5,000.
It is not a big investment amount because you will not need much more apart from investment in equipment. Importantly, the camera can last for long years if you maintain it properly. For that polished execution, you can even think of taking a crash course in photography. The next important thing you will require is a website that can handle files with large images.
Photographers are paid mostly on an hourly basis in Canada and can earn C$20.49 per hour excluding the commission and another profit share if you are working in collaboration. Of course, your expertise is a deciding factor regarding how much you earn.
2. Real Estate
Across the globe, real estate is one of the evergreen jobs as the world never stops buying or selling commercial or residential properties. Importantly, it is one of the best business ideas for those who do not want to get themselves tied to the routine of a 9 to 5 job schedule. To become a real estate agent in Canada, the new agents have to pay around $2000 for completing the licensing course and first-time license registration.
Apart from that the new agent also has to pay initiation fees set up by the real estate boards of each province as well as certain monthly dues. Designing a good website is another top priority for venturing into real estate. According to reports, real estate is a profitable business in the country with 85% earning average revenue of $181,000.
3. Transportation And Storage
The first investment is to buy trucks that can cost around $1500 for smaller ones. If you are short of capital, the best idea is to opt for used fleet vehicles that can include trailers, smaller and large semi-trucks. You will also require:
- Vehicle insurance and its cargo
- Business name registered in the province you want to work
- License permitting transport of commercial goods
So on average, you can expect this business to take up $200,00 and more for getting up and running. As a supplementary option, you can start storage by renting a small warehouse space initially and then growing as you progress.
How much will you earn? The average yearly revenues in the last few years have exceeded $279,000 for transportation and storage which promises good income even for the startups.
4. Mobile Home Services
Canadians are highly stressed and just want a break from their hectic regular life. Hiring doorstep mobile services can be one of the best things for you as well as for them. From washing windows, cleaning cars, to mowing lawns, most of the over-worked Canadians want a break from such mundane tasks. Interestingly, it also does not require much investment. You can expect to invest $10,000 and $50,000 initially.
The few things that you will require is a vehicle to carry your tools such as ladders, washing products, and equipment for cleaning. Having insurance will ensure that the homeowners hire you readily as it will avoid litigation expenses in case there are any potential injuries.
Uber is already a big name in this field with Lyft fast catching up in Toronto. It is one of the best business ideas for those who want to work on their schedule. Having your vehicle is a bonus as you will then only need to spend on the wear and tear of the vehicle and the fees required for registration and other formalities.
But if you have to buy the vehicle then the initial investment can be anywhere around $20,000 to $70,000. On average an expert cab driver in Canada earns $14.33 per hour. Even with overheads, he can earn a profit through yearly earnings of $47,515.