Canada is the eighth wealthiest country in the world, with USD 6 trillion in total private wealth. Do you want to be one of those wealthiest people who contributed to Canada’s standing in the world?
Let’s explore five top small business ideas for Canada that can make you wealthy if you stay motivated and plan correctly.
1. Mobile Car Wash and Auto Detailing Business
Mobile car wash services are in high demand in Canada. The Canadian market size of the car wash industry, measured by revenue, is $1.2bn, with a growth rate of 3.3% in 2022.
People do not have time to go to the service store and wait for hours to get their cars washed, so they prefer mobile car wash services over the traditional system.
Depending on your investment and the equipment you have, you may decide which type of car wash and detailing services you will offer, such as exterior car wash service, interior car wash service, or both.
4. Food Truck Business
According to Ibis World Canada, the street vendor industry is currently worth 325 million dollars with approximately 2093 businesses. Starting a food truck business is a lucrative business idea.
With low startup and overhead costs, you can earn good profits with a good business plan, the right product, and the right location. As your business grows, you may also increase the menu items.
3. Sell Online
Canada is the 10th largest e-commerce Market in the world with a revenue of 35 billion dollars you can simply sell your product or Services through your e-commerce business in Canada.
All you need to do is to decide which product to sell to your target audience and whether are you going to sell directly on your website or through social media platforms you may also register yourself on Canadian Big E-Commerce marketplaces such as:
Amazon.ca with a revenue of 9.8 billion dollars in 2021
Walmart.ca with a revenue of 3.8 billion dollars
Costco.ca with a revenue of 2.3 billion dollars
The biggest advantage of selling products on these platforms is that they have a large and active audience base.
2. Cleaning Business
The Canadian household cleaner segment is expected to grow annually by 4.52%, and we expect it to be worth over 40 billion dollars by 2025.
There are plenty of opportunities for success when you start a cleaning business. You can start a cleaning business with low-cost and limited supplies, and as your business grows, you can build up your supplies and cleaning equipment.
You can find online forums like Ontario Business Central.ca where you can submit your information and start your cleaning business quickly and easily.
1. Pet-related business
Approximately 57% of households in Canada own a pet. Canadian pet store industry measured by revenue is 3.4 billion dollars in 2022 and is expected to grow by 4.1% as more Canadians are adopting pets.
It is one of the most lucrative small business ideas, depending on your investment and expertise. You may decide which type of pet-related business you are going to start; it could be: