50 Best Businesses to Start With $100K in Canada in 2023

In recent times, Canada has experienced an innovative transformation within its business and startup communities. If you’re looking to start a business in Canada, now is a great time to roll up your sleeves and get to work, especially since Canada is noted as one of the best places in the world to start a business by the World Bank.

According to reports, the best cities in Canada to start a business are Toronto, Vancouver, Montreal, or Ottawa. Toronto, especially, is renowned for its massive startup community with incubators, groups, and a large talent pool. Also note that the most in-demand businesses and startups in Canada fall into these five categories: software, real estate, e-commerce, healthcare, and finance.

What are the Best Businesses to Start With $100K in Canada?

If you have or can raise $100K, here are some profitable business ideas to consider starting in Canada.

  1. Cryptocurrency Trading

In this modern age, there are numerous ideas for starting a $100,000 business in the crypto world. This can range from just developing a good multi-cryptocurrency portfolio to mining and regular trading on a cryptocurrency exchange. According to reports, this is genuinely one of the most profitable businesses to venture into; however, it also comes with its own risks.

  1. Auto Repair

According to reports, 84 percent of Canadians own a car, while another 9 percent want one—and 37 percent own two or more vehicles. Truth be told, as long as there are cars to transport us from one location to another, there will also be a demand for regular maintenance and repair.

Whether you start up a specialized auto repair shop for high-end companies and luxury models, or a general service shop, this is one of the most notable businesses to consider starting in Canada. However, ensure to consider your business location, possible competitors, competitive pricing for services, skilled workmen, and demand.

  1. Solar Water Heater Installation Company

Between washing dishes, clothes, cleaning the house, and showering or bathing, Canadians use an average of 75 liters of hot water at home each day. Note that with a solar domestic hot water system (SDHW), people can leverage the sun’s energy to heat water.

In Canada, these systems are most often designed to generate 60% of the hot water required for the average home, depending on local climate and hot water needs. These systems are set up to preheat water coupled with a backup conventional water heater (electric or gas). If you studied electrical engineering or any related course and you are looking to start a business in Canada, then you should consider starting a solar water heater installation business.

  1. NFC Integration Company

Owing to the fact that most major smartphones come with NFC capabilities, Near-Field Communication (NFC) has become a mainstream technology. Have it in mind that this feature allows smartphones to interact with other NFC-compatible devices. A good instance includes payment tap-and-go systems, which are a part of the NFC technology, as well as entry badges for authorized access into buildings, and many other applications.

By starting an NFC integration company, you can target wealthy homeowners who wouldn’t mind putting these NFC tags around their house. Note that this would allow them to adjust lights, set alarm systems, grant visitors Wi-Fi access, even unlock the front door with the tap of their phone.

  1. Virtual Inventory Creator

Truth be told, businesses in this modern age are eager to shrink the amount of inventory at hand as a strategy to limit overhead costs. Some are also seeking ways to completely do away with physical inventory. Owing to that, you can start a business that would design products that are capable of printing from a 3D printer.

To start this business, you just have to know how to design CAD files, and understand the capabilities of a 3D printer to enable you to match the material of your clients. You can also consider levering 3dhubs.com to enable you to get clients from around the world.

  1. Sale of Customized Winter Jackets, Head Warmers, and Boots

In terms of countries, Canada is pretty much the coolest. It vies with Russia for first place as the coldest nation in the world, with an average daily annual temperature of —5.6ºC. While temperatures in Canada vary massively from region to region, winters can be harsh in many parts of the country, and the need for thick jackets, head warmers, and boots cannot be far stretched. Owing to that, you can start and run a business that sells customized and well-tailored winter jackets, head warmers, and boots in Canada.

  1. Electronics Retail Shop

Owing to the advent of smartphones, computers, and other devices, there is always a steady demand for these products. Note that you can start a retail store that sells a wide range of home appliances; provide service and product support, or even sell products for new in-demand devices like smart speakers or smart TVs.

  1. Fashion Blockchain Company

Fashion is another industry where transparency has become a concern for the consumer. There are numerous stories about factories collapsing owing to poor maintenance or bad safety standards. Blockchain technology can help solve this by adding transparency to retail-based businesses.

Note that this can help by showing where these businesses source their supplies from. It would also allow a certain supplier’s verification tag to be associated with a certain piece of clothing so the consumer could know. It also gives the opportunity for consumers to track where their clothes came from.

  1. Driving School

According to reports, the average driving instructor salary in Canada is $43,875 per year or $22.50 per hour. Indeed, there is a massive demand for driving schools in Canada, especially in cities like Toronto. A well-maintained vehicle and a solid curriculum are the two basic requirements for anyone wishing to open a driving school.

Note that your curriculum will have to get approved by the Ministry of Transportation. The Ministry’s Beginning Driver Education (BDE) Program Curriculum Standards contains the online courses you must follow.

  1. Timber Transportation Business

Since Canada has one of the world’s largest forest reserves in the world, this is, without doubt, one of the best businesses to consider starting in the country. Notably, you don’t need a fleet of trucks to be able to transport timber from the forest to timber processing mills. All you need is just one truck, and with just one truck you can grow the business into a profitable one.

  1. Digital Marketing Services

Digital marketing is the process of making use of modern digital technology to market goods or services or the process of drawing website traffic or attention through social media sites. Businesses in this field do this by creating content that attracts attention and encourages readers to share it across their social network platforms. Note that one of the primary purposes of making use of Social Media in marketing is that it covers a vast range of target markets in contrast to other marketing tools.

  1. Catering Service Business

The catering services sector is without a doubt extremely popular in Canada and works well in both large cities and small towns. Note that this type of business caters to Canadian companies who are looking to offer meals to their employees.

When starting this business, have it in mind that the legislation in your province or state will have to be respected. If you have a well-organized kitchen, a passion for cooking, and an attitude of serving people – the business is perfect for you.

  1. Web & Mobile App Development

With the world becoming more immersed in technology, apps are also becoming more necessary than popular. Owing to this growing demand and need, starting a web and mobile app development company is a business to consider, especially in 2023.

  1. Employment Program Developer for Seniors

With many seniors retiring, a good number of them don’t actually want to retire and just stay at home. Note that you can start a business that creates local employment programs for seniors. To obtain participants you can go door to door in seniors’ complexes to give out flyers to try and generate leads. To generate revenue, you can take a simple management fee for providing the senior with the contract work.

  1. Start an SEO Agency

Starting a good and reliable SEO agency is a route to consider if you are looking for a good business to start with $100K. Note that having capital and an extensive understanding (or a person who understands) of this industry is necessary to ensure you achieve success in this business.

  1. Niche Virtual Assistant (VA) Business

In Canada and with $100K, you can start a niche VA business where certain niche business owners can come to hire the exact virtual assistant they are looking for. A good number of businesses in this lane allow clients to pick who they want to hire. In this business, note you would need to create a website, and get Vas to sign-up to your site. Since it is based online (virtually) you should consider some online ads like Facebook Ads or Google Adwords.

  1. Food Trucks

This sort of business is genuinely a great option for anyone with $100K and a passion for food or potential business partners who share the same passion. Canada’s food truck industry is booming and the market is expected to reach the $1.1billion mark by 2022.

Also, note that business owners can expect their food truck company to draw in around $500,000 per annum with a start-up cost of around $40,000 and upwards. This is a great business idea for foodies who want to hit the ground running in a sector that has positive projections as far as profitability and growth are concerned.

  1. Delivery Services

The pandemic of recent years has showcased the importance of the services offered by delivering firms. Businesses ranging from restaurants to basic grocery shops all tend to require the services offered by these companies. Companies like Zomato, Doordash, and UberEATS have all enjoyed exponential growth owing to this massive demand. Howbeit, starting and setting up cheap, affordable, and efficient delivery systems remains one of the top business ideas to consider in 2023.

  1. Cab and Ride Booking Services

Owing to the pandemic of recent years, people are looking to ensure they keep themselves safe by reducing social contact in public transportation. Therefore, ride-booking services have become preferred choices over buses, subways, and taxis for traveling these days.

While the market is highly competitive with bigger companies like Uber, Ola, and Lyft making available low costs to customers, investing in such a business is something to consider, especially if you can create local demand and also offer pocket-friendly rates, deals, and partnerships.

  1. Coffee Shop

Starting and running a successful coffee shop in Canada can be relatively easy if you’ve done your research. Starting a coffee shop has a low barrier to entry due to the lower capital required to start! Cafes tend to put a massive focus on building meaningful relationships with their guests to keep them coming back because the market is saturated.

  1. Cleaning Service Business

This is another business idea to consider especially since you can easily start any type of cleaning business from home. Truth be told, the startup cost is quite low, and owing to your skill and experience, you can concentrate on a niche segment. Also note that you can start a cleaning agency that specializes in office cleaning, window cleaning, air duct cleaning, and many other niches.

  1. Nanny Agency Business

Note that families seeking a nanny to care for their young ones tend to turn to nanny agencies, which have the time and resources to carry out extensive background checks. For many, nannies are a very necessary part of their family unit, and your work is a vital part of that process. Nannies have been around for over a hundred years, and the industry is always expanding.

  1. Beauty Salon

Just as we all know, beauty salons offer a vast range of services from cosmetic treatment to personal care. Therefore, if you have some experience in makeover service and retail space, then you should consider starting and running a beauty salon especially in cities like Toronto, Ontario, etc.

  1. Mobile Paper Shredding Business

Aside from having a facility where businesses can send documents to be shredded, you can also start a mobile paper shredding company and take your industrial paper shredding machine in a truck to your client’s office. Your clients will bring in the documents/papers to be shredded, and these papers/documents will have to be shredded in their presence (under the clients’ supervision) before being transferred to paper recycling sites. You can easily start this business for less than $100K in Canada.

  1. Electric Car Charging Station Provider

According to reports, in five to ten years, a good number of gas stations will change to electric car charging stations as the demand for electric cars heightens. To capitalize on this change, you can start a business that would charge people a per watt or kilowatt for charging their car at the station.

You can also choose to provide electric car charging stations in condo units and parkades on a fee per kilowatt or watt of electricity basis, so people can charge their electric cars faster, within a few minutes.

  1. Event Planning

A good number of businesses and organizations tend to strongly rely on event planners to help them put together or plan conventions, meetings, trade shows, parties. Event planners help negotiate and manage vendor contracts, scout and inspect event venues, meet with event stakeholders to understand the purpose of the event, and coordinate event logistics, to name a few. According to reports, the average pay of an Event Planner is $68,151 a year and $33 an hour in Canada. The average salary range for an Event Planner is between $49,572 and $83,614!

  1. Bookkeeping Services

In this modern age, a good number of companies prefer to outsource their business accounting, especially since it is much cheaper and of higher quality. Therefore, if you have a couple of competent financiers and accountants and the opportunity to prove the quality of your work, then you can successfully run a bookkeeping service business.

  1. Remote Employee Satisfaction Service

A remote employee satisfaction service is genuinely a great business idea to consider in Canada. Note that the primary aspects of this business involve setting up the resources the employer would require, such as software to track employees’ work, communication channels like messenger setup, remote access to files setup, compensation recommendations, employment contract recommendations, and team retreats to re-engage remote employees.

  1. Online Store

While this might seem unrealistic to most people, this is a very lucrative route to consider when looking for a business to start in Canada with $100K. Notably, if you are a creator who is eager to sell your products, or a niche curator of goods, or even simply want to run an online marketplace, then consider setting up a shop online and efficiently marketing your products.

Ensure you put together a well-detailed business plan, maintain a well-stocked inventory, set up dedicated and polite communication channels for customers, and grow your business to maximize profits in the long run.

  1. Job Consultancy

Owing to the fact that the market for jobs is gradually becoming more complicated and inaccessible to the average person, there is a massive demand for job consultancies.

Note that these businesses make available a vast range of services that include; specialized career counseling, modifying CVs, curtailing work processes, linking company HRs with job prospects and job seekers, and offering advice for those looking to switch careers. Note that large-scale competition in this business is low, therefore there is a massive opportunity for you to venture into this market and grow exponentially.

  1. Drone Aerial Video/Photography business

While there is competition in this business, there are little barriers to entry. Note that with some education on the various regulations in Canada, you can easily start and run a drone-related business. Have it in mind that the first step is to create partnerships with other photographers that do not have the capacity to run a drone.

Consider placing your ad on craigslist to help drive leads especially from people who need event aerials. Free video editing software such as Windows Movie Maker or iMovie can create movies too. Since you will be selling videos, a website will be more effective than flyers. Note that all these can be achieved with and for less than $100K.

  1. Gift Solutions

From well-customized gifts to innovative corporate merchandise, new and innovative products are coming to market every day. Starting a gift solution business is without doubt one of the best businesses to consider in this modern age.

According to reports, the gift industry has witnessed massive growth in recent years and is expected to reach $700 billion globally. Note that you will need to find a good location for your storefront and ensure you develop it over time as your customer base grows.

  1. Alteration Service

There are different ways to start and run an alteration service business in Canada, however, note that you will need sewing knowledge and experience. There are numerous classes to take to learn different types of sewing and designs.

You can start at a retail location or even a home-based business. Note that a home-based operation helps you do away with the cost of real estate. It will also help you in securing a customer base with a minimum overhead cost.

  1. Debt Collection Agency

Simply put, a debt collection agency is a company that ensures that money owed to a business, by a debtor, is repaid. Companies tend to seek the services of collection agencies to collect on unpaid, past-due debts from individuals or other businesses. However, note that you will be expected to comply with all the requirements in the Collection and Debt Settlement Services Act (CDSSA) and its regulations.

  1. Educational Consultancy Agency

Truth be told, Canada remains one of the best education destinations especially for international students. Have it in mind that numerous would-be students are trapped just because they lack the necessary information and you can start a business that sees to this need. In Canada, being an educational consultant entails that you help your clients handle their educational concerns. You can also help your clients (international students) obtain work permits.

  1. Air Conditioning Service

Without arguments, Canadian winters and hot summer days will always require functioning heating and air conditioning systems in homes. Have it in mind that installing and maintaining warming and cooling systems presents a lucrative business opportunity especially if you have $100K to start a business in Canada. Therefore, if you have some experience in this field, starting an HVAC business can be a profitable venture to consider in 2023.

  1. Car Wash Business

Just like it was noted above, 84 percent of Canadians own a car, while another 9 percent want one—and 37 percent own two or more vehicles. Owing to the number of cars in Canada, you can start a car wash that offers car cleaning, washing, and waxing services.

There are numerous niches to consider in this business, such as opening a full- and self-service car wash, a truck, and bus wash, or even offering vehicle detailing services. According to reports, the market for car wash is bolstered by the purchase of cars, and an increase in consumer spending will ensure more people patronize the services you offer.

  1. VR Video Development Company

In this modern age, virtual reality is gradually taking the world by storm. A good number of big companies like Google and Samsung are starting to create some really great gear for people to use. In addition, VR lounges are now a thing and have become the latest and greatest virtual reality tech.

Also note that websites like YouTube will rank your video as a higher priority in people’s feeds just because it is VR, as Google wants to help influence this. Ideally, the higher-ranking factor is huge for companies that do marketing online. However, don’t forget that this business idea would take a lot of skills or knowledge in VR coding and development, especially if you are looking to be successful and make a good profit.

  1. Fruit and Vegetable Retail Store

This is genuinely another lucrative business to consider starting in Canada. However, it is very imperative you note that starting a vegetable and fruit retail business in Canada comes with its own fair share of challenges. For one, you will be required to obtain a Safe Food for Canadians (SFC) license from the Canadian Food Inspection Agency (CFIA). Nonetheless, this is still a very profitable business if you are in a viable location and you understand how to source for fresh fruits and vegetables.

  1. Elderly Tech Support

In 2014, over 6 million Canadians were aged 65 or older, representing 15.6 percent of Canada’s population. By 2030, seniors are expected to reach over 9.5 million and makeup 23 percent of Canadians. Also, note that a good number of them like to keep up with the latest tech so they can easily communicate with their families.

To start up this company, you should consider offering classes at local elderly homes on how to use certain pieces of technology, and from there, you could advertise your services for further help and support.

  1. Graffiti Removal Business

This is another lucrative business to start in Canada, especially if you are working directly for the government of Canada as their agent. Most often, it falls on the government to ensure that they remove graffiti from public facilities and maintain a decent environment. Owing to that, it is imperative you position your graffiti removal business to be able to secure contracts from the government and help remove graffiti in your environment.

  1. Interior Designing

In Canada, interior designers are tasked with color selection, finishes, window treatments, furniture, and more. Aside from the aesthetics of a space, these experts also consider the safety requirements and ergonomic needs of a space. Like any business, it is necessary to create an identifiable brand by focusing on your strengths.

Whether you have a thing for shabby, chic or a flair for cozy country interiors, have it in mind that focusing your design efforts ensures you create a reputation for your unique design aesthetic. Having an explicit focus also helps you improve your skills and build a reliable network of suppliers and other professional resources in your areas of expertise.

  1. Dryer Vent Cleaning Business

This is genuinely another business idea to consider since you can start it without much stress. A good number of people find it difficult to clean the vents of their dryers; hence they require the services of professionals to help them do it. In this line of business, you can increase business revenue by either offering additional HVAC services or partnering with a local business that does.

 44. Marijuana Regulatory Management Consultancy

Cannabis is currently legal for both recreational and medicinal purposes in Canada. According to reports, the legal age to purchase and consume marijuana in the country is 19. However, dispensaries and people related to the business barely understand the precise laws associated with the trade. Therefore, there is a current demand for consultants who understand the law and can guide businesses and individuals effectively.

  1. Headlight Restoration Business

When you have $100K and looking to start up a lucrative business in Canada, you should consider starting and running a headlight restoration business since it has the ability to bring in substantial cash. Starting a headlight restoration business requires automobile – electrical training, and the amount you can make will surely depend on the number of headlights you can fix in a day or month. The headlight restoration business is all about helping cars and truck owners to restore their damaged or malfunctioning headlights.

  1. Line Holding Business

This business involves finding the hottest and biggest release events for different products. Once you stand in line at the front, you can either buy the product to re-sell at a higher price or sell your spot in line to other people who are more eager to acquire that product. Note that once you get your first few sales, you can start to pay others to stand in line for a cut of the profit from the spot sale. While this may not sound like a lucrative business, have it in mind that a few others have made over six figures from this business.

  1. Local Tour Guide Company

According to reports, Canada received a record 22.1 million international tourists from abroad in 2019, surpassing the previous year’s record of 21.1 million. Ideally, you don’t need to be in an influential tourism location to succeed in this business; by finding the best local restaurants, dessert places, hidden local hikes, and spots only locals know about, you could add a lot of value to people outside the area.

This business is also easy to start as you can more or less hire a driver and rent a van to take people around to these places. In this line of business, it is quite easy to set yourself apart from the competition as many tend to take people to spots that are very popular and designed for tourists. You could also charge more since these tours will be more exclusive and outside where regular tourists go.

  1. Counterfeit Goods Verification Service

Owing to the enormous growth in sales of luxury brands over the past 20 years, more and more counterfeit goods are appearing in the market. There are people who buy these counterfeits on purpose, as it is cheaper than the real thing; however there are some people who would only want to have the real item.

Have it in mind that this need most often entails that people get tricked into buying fakes. To go against this, you can start a counterfeit verification service. By starting locally, you can understand how to easily spot real versions and fake versions of a specific niche like Rolex watches. If you enjoy dealing with a certain luxury item, this would be a wonderful business idea to consider.

  1. Chatbot Consultant

In this technological age, chatbots are used to do different things like; marketing for events, providing customer service, and selling products and services. Note that a good number of businesses can gain from implementing a chatbot for their website, and that is where you can come in.

If you have a thing for building bots with artificial intelligence, or have an experience in coding, you could do these for company websites as a consultant. Since this is a service-based business using knowledge, you can start it with less than $100K.

  1. E-Sport Tournament

Have it in mind that E-sports tournaments are growing in popularity globally. Instead of starting a generic event planning business, you could choose to venture down the e-sport tournament lane. By putting together different tournaments for different games, you could pre-sell tickets to teams and spectators.

This gives you the funds to seek sponsors, rent a venue, and buy prizes for the winners. If you have a passion for gaming, this is without doubt one of the best modern businesses to start in Canada.

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