7 Lucrative business Opportunities in Canada; Canada officially the Commonwealth of Canada, is a country located in northern North America, the largest country in total area and second-largest in land area and population among the other G8 nations.
The country shares borders with the United States to the south and northwest, Newfoundland and Labrador to the east, and the US states of Alaska to the west and Maine to the northeast, totaling 9,984 kilometers (6,173 mi) in land borders.
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1) Hair styling
With the entry level positions at salons are abundant, becoming a hair stylist will require on-the-job training.
Hair stylists have a unique ability to develop relationships with their clients and build personal clientele, which makes hair styling a lucrative profession for those who have high standards and an artistic bent.
However, salon hours are typically long, so you’ll need to be self-motivated and schedule your time well if you want to balance other obligations.
If you want to start your own business as a hair stylist or as part of another personal service like massage therapy or psychotherapy you’ll need either already have certification or attend school through an accredited program that grants accreditation when coursework is complete.
2) Freelancing
There’s never been a better time to be a freelancer. With the rise of the gig economy and the increasing popularity of flexible work arrangements, more and more businesses are turning to freelance talent to get the job done.
And there are plenty of opportunities for Canadian freelancers to get in on the action.
You can take on small projects or manage entire campaigns
Skills required: design skills, writing skills, creativity
- Salary: average salary is $50/hour
- There is no standard length of project or number of hours per week involved
- The best part about being a freelancer is that you get to pick and choose which projects you want to take on
It might not be for everyone as it requires self discipline and can often involve a lot of responsibility
3) Investing
When it comes to investing, there are a lot of options available. You can choose to invest in stocks, bonds, mutual funds, or even real estate.
However, before you make any decisions, it’s important to do your research and understand the risks involved.
With that said, here are seven lucrative business opportunities in Canada that you may want to consider
Clothing: The clothing industry is one of the most competitive industries in Canada. -Vehicle Repair: Being able to provide quality repairs for vehicles will allow you to capture customers from those looking for car parts and accessories.
Law Firms: The legal industry is constantly changing with new laws being made and old ones being revised. Knowing what these changes are, how they affect people, and how they affect businesses will help your law firm stay afloat with all this competition out there.
Pet Boarding: Canadians have been abandoning their pets at an alarming rate. Because of this, pet boarding services have been increasing in popularity.
Landscaping Services: Landscaping services can be profitable if done right. If you have knowledge of gardening or landscaping and would like to start your own company, now is the time!
4) Online Marketing
If you’re thinking of starting a business in Canada, online marketing is a great opportunity. With so many people online, you can reach a large audience with your products or services.
Plus, there are a number of ways to market online, so you can find the right fit for your business. You can also use online marketing to reach international audiences.
It’s especially useful if you have goods or services that would be valuable to customers in other countries but not domestically.
Online video marketing and paid advertising on social media sites like Facebook, Instagram and Twitter are popular options for getting started.
5) Business Development
Business development is the process of identify new business opportunities and planning how to pursue them.
It’s about finding ways to grow your company by expanding into new markets or developing new products and services.
There are many different avenues for a business to explore when it comes to growth, and it’s important for entrepreneurs to recognize what they want their company’s growth trajectory to be before embarking on any large-scale initiatives.
6) Travel
Travel is a booming industry, and there are plenty of opportunities for businesses to get involved. From tour operators to travel agents, there’s a lot of potential for profit.
And with Canada’s vast array of natural beauty, it’s no wonder that tourism is one of the country’s biggest industries.
With all this variety comes many avenues for travellers to explore on their visit.
The travel industry makes for a good investment for several reasons.
As mentioned, it’s popular and growing, so new businesses have a decent chance of getting noticed.
But not only that with online marketing on sites like Facebook and Google, it’s become easier than ever to boost your exposure and turn people into customers.
You could also get involved through affiliates or advertising by working with other platforms.
7) Coaching
Coaching is a great way to earn a living while helping others reach their potential.
As a coach, you can work with individuals or groups, and you can specialize in any number of areas, from career coaching to relationship coaching.
If you’re looking for a business opportunity with high earning potential and the ability to make a real difference in people’s lives, coaching is definitely worth considering.
It’s one of those careers where you know that what you do has an impact on someone else, says Rosalind Hurwitz, a life coach based in Vancouver.
You really see it on their face when they have this ‘aha’ moment.
It takes time and patience to build up your client base, but once established, coaches often enjoy a flexible schedule and generous profit margins.
Conclusion
If you’re thinking of starting a business in Canada, there are plenty of opportunities to choose from.
Just be sure to do your research and understand the market before diving in.
With a little planning and hard work, you can be on your way to success. One company looking for qualified staff is Canadian Solar.
They’re currently hiring employees across multiple positions, with openings ranging from field engineering to technical support specialist. For more information on all 7 lucractive business opportunities in Canada, check out our list.