The city of Toronto is a thriving market for small businesses. In addition, there are hundreds of companies, start-ups, and entrepreneurs who have started their businesses in Toronto, Canada. The city has become a hub for startups because of its strong economy and high quality of life.
Toronto is Canada’s largest city and the fourth largest metropolitan area in North America. It is also home to the headquarters of several major banks and financial institutions. There are many reasons for starting a business in Toronto, including its location, economy, culture, and people. However, if you want to start a successful small business, you need to know what makes the best business ideas in Toronto.
As a leading technology city, Toronto has a vibrant startup culture, and this makes it a great place to launch a new small business or expand an existing company. If you want to get into profitable business in Toronto, you should consider these 20 most profitable small business ideas in Toronto, Canada in 2023.
1. Food Delivery Service
Food delivery services have been around for many years now. In fact, they were even popularized by restaurants who wanted to make sure their customers got what they ordered without having to wait in line at the restaurant. Today, food delivery services are becoming increasingly popular among small businesses.
Food delivery service is a good small business idea in Toronto, Canada because many people enjoy ordering online and getting exactly what they want to be delivered right to their door. You can start a food delivery service for yourself or get some friends together and open up a food delivery service in Toronto, Canada.
Must read: Top 10 Most Profitable Small Businesses in Canada
2. Home Health Care Services
Home health care services are becoming increasingly popular these days in Toronto, Canada. People are realizing how much time and money they save by not having to go out to hospitals and clinics anymore. There are many different home health care services that you can offer to your clients.
These services range from physical therapy to massage therapy. If you’re interested in starting a home health care business, then you should consider offering acupuncture treatments. Acupuncture is a great way to help your patients relax after a long day of work, if you really want to start a small business, this one may be the best business idea in Toronto.
3. Beauty Salon
Beauty salons are a great idea for small businesses in Toronto, Canada. Not only do beauty salons provide services to their clients, but they also allow them to socialize and meet new people. Starting a beauty salon requires a lot of capital, but if you plan well and invest wisely, you’ll eventually reap the rewards.
4. Pet Sitting Business
Pet sitting services are becoming increasingly popular in Canada. People love having their pets taken care of while they are away. Many pet owners don’t mind paying someone else to take care of their beloved animals either. If you’re looking for a fun side hustle, then you might want to think about opening up a pet sitting business in Toronto.
5. Landscaping Business
Landscaping services are always in demand in Canada, this is really the most famous and profitable small business idea in Toronto. Whether you specialize in lawn mowing or tree trimming, landscaping services are always profitable. Just remember to charge enough for your services so that you can afford to pay your bills and still make a profit.
Must read: How to Earn Money Online in Canada for Students
6. House Cleaning Service
House cleaning services are another great idea for small businesses in Toronto that need extra cash. Most people would rather hire others to clean their homes than spend hours doing it themselves. If you’re good at organizing and keeping things clean, then you could easily start a house cleaning service in Toronto, Canada.
7. Childcare Center
Childcare centers are becoming increasingly popular all over the world and in Canada. Parents are always looking for ways to earn extra income, especially parents who are working outside the home. Opening up a childcare center is a great small business idea in Toronto to make some extra money and give back to society at the same time.
8. Home-based Business
The home-based business idea is one of the best small business ideas in Toronto. You can start a home-based business without having any investment at all. All you need is a computer, internet connection, and some basic knowledge about computers. There are many online businesses that allow you to make money just sitting at home.
9. Online Shopping
Online shopping is one of the best home-based business ideas in Toronto. If you have a computer and internet access, then you can set up an online store to sell products. Many people do this as a side business while they work full time.
Must read: 10 Business Opportunities in Canada for Foreigners
10. Affiliate Marketing
Affiliate marketing is the most profitable small business idea in Toronto to earn money online. When someone makes a purchase using your affiliate link, you get paid a commission. This is how you can make money even if you don’t own a physical shop.
11. Freelancing
Freelancing is becoming very popular these days in Canada and all over the world. People who have their own websites can offer freelance services to clients. Clients can contact freelancers directly and hire them for projects.
12. Virtual Assistant
A virtual assistant is one of the perfect business ideas in Toronto because the virtual assistant field becoming very popular in the USA & Canada nowadays. A virtual assistant helps companies run smoothly. Companies can outsource some of their daily tasks to a virtual assistant.
13. Transcription Services
Transcription service is something that is getting popular recently. Clients can pay a transcriptionist to transcribe audio files (like voice notes) into written text.
14. Data Entry Jobs
Data entry is one of the best and most popular small business ideas, data entry business idea really helps you in Toronto from home. Almost everyone uses the internet today; therefore, data entry jobs are always available, so you earn by working as a data entry operator or providing data entry services in Toronto.
15. Events Planning
Events planning can be either a hobby or a career. People who enjoy event planning often attend local community events and look forward to planning their own parties. Many people who plan events are also interested in catering and food preparation. They may even pursue a culinary arts program so that they can learn how to cook delicious dishes. Events planners often book entertainment and set budgets. Once they meet those goals, they host the event and earn money.
Must read: How to Start a Business with No Money
16. Licensing & Regulatory Compliance Services
Licensing and regulatory compliance services help cannabis growers and sellers know what laws apply to their specific activities. They also help cannabis businesses stay compliant with regulations. As legalization continues to spread across North America, the demand for licensing and regulatory compliance professionals is expected to increase significantly.
17. Wholesale Distribution
Wholesalers distribute any type of product to retailers, dispensaries, and customers. Wholesalers are able to offer a wide variety of products ranging from flowers to edibles to concentrates. Depending on what type of wholesale business you decide to start, you can choose how and where you want to sell your wares. Many wholesalers choose to sell only online while others sell both online and offline, both options are profitable in Toronto.
18. Pet Boarding Services
Pet boarding services are really a very profitable small business idea in Toronto. Pet boarding is offered by different agencies and owners. You can advertise your services in local newspapers and online. You should keep yourself updated about the latest trends in pet care.
19. Gardening Services
Gardening is a great business opportunity in Toronto, actually, Gardening is not only meant for home gardening. You can also sell gardening services. As gardeners, they know how to properly care for different types of flowers. They can offer gardening services to flower shops, schools, malls, and hotels.
20. Lawn Mowing Services
Lawn mowing is a simple yet challenging job. Mowing lawns is one of the best business opportunities for those who live in big cities. But, it requires patience and dedication. Lawn mowings are available 24×7. Lawn mowers can charge as much as $30-50 per hour. Most of the customers prefer early morning hours, this small business idea in Toronto can give you a good amount of money.
Must read: How to Become an Uber Driver in Canada
FAQs on Small Business Ideas in Toronto, Canada
What business is good in Toronto?
What business can I start in Toronto?
Is it easy to start a business in Toronto?
Is Toronto good for business?
Why do startups start in Toronto?
Must read: 40 Most Profitable Small Town Business Ideas
Conclusion
What do you think about the idea of starting a new business in Toronto? Are you interested in moving to Canada or would you rather stay in the US?
Toronto has become a global city over the last decade. The city is home to the largest concentration of immigrants in North America. In addition, the city boasts some of the highest quality of life indices in the world.
Toronto is a great place to start a business. There are plenty of resources available to entrepreneurs. If you want to move to Canada, you should consider Toronto.
