The Best Startup Ideas for Those Who Want to Build Their Own Business in Canada

March 21, 2022
Photo by Lala Azizli on Unsplash

To help you decide which of the most significant company concepts for Canada mentioned below is best for you, one should always keep the following questions in mind before deciding on a company plan.

  • What are your favorite pastimes?
  • Do you have enough time to put into building a company from scratch?
  • Is this sector a good fit for your skillset, or is there anything better out there?
  • Do you hold enough money to be able to fully fund the allocation of the company?

Don’t expect to generate revenue any quicker or simpler when establishing a tiny home-based company. In order to make money from your company, you’ll need to put in a lot more effort into it than if you were simply finding a job within the sector.

1. Start an online shop

Nowadays almost everyone does their shopping online. Online shopping has proved itself cheaper than local stores and in some cases more convenient too, considering you don’t even need to get off the couch to buy pretty much anything you might need or want to buy. Dropshipping softwares like Shopify allow resellers to sell anything they want online, without having to put their stocks in a warehouse or taking care of shipping and any other process to bring the product to the clients.

This happens thanks to your online shop website connecting directly to the supplier of your chosen product who already has warehouses and shipping processes settled and ready to go. Once you sell an item through your site, it’s immediately communicated with the wholesalers and they will ship the product to your client through data collected through your site, and through each sale, you can make your own commission. This kind of startup can be massively successful if you choose the right niche and apply solid methods of marketing and advertising to build a solid customer base.

2. Get into the iGaming industry

The industry of iGaming is one of the biggest and fastest growing businesses on the planet. Not only has online gambling become more popular than local brick and mortar gambling in any way shape or form, it’s also gaining enough popularity to reach the maximum heights reached by the general (non gambling) gaming industry.

Getting into the iGaming business requires little prior knowledge as you could learn everything as you go along. You don’t necessarily need to build a top-tier casino like leovegas slots and many more to make money off the iGaming industry, as if you know how to build websites, even a simple affiliate site with information about these iGaming companies could go a long way in terms of potential profits, meaning if you don’t want to go through the hassle of starting an actual gambling provider company, you could also build a company that markets them.

3. Content creation

If you have a knack for creative writing, this might just be your dream come true. There are a lot of online businesses on the internet looking for professionals to write their website content for them. It’s super easy to get started as a freelance writer on platforms that allow freelancers to offer their services on a global scale, and with the money you make from there, you could save up and start your own content writing agency, where you hire a team of specialized content writers and get big content deals with deep pocketed clients ready to order articles or on-page content in bulk.

In this case, multilinguals would have a massive asset up their sleeves if they can write in different languages, as you would widen your customer base substantially if you can offer content to companies based in different countries. Content writers can be paid up to ten cents per word and even more in some cases, therefore high volumes of content could really make you a lot of money.

4. Online courses and tutoring

If you have a specific hobby and skill set that you feel confident enough about to actually teach it to others successfully, you could create and sell online courses around it. You could either teach people live through streams and webcam calls to be able to judge learners directly when teaching them whatever it is you specialize in, or you could even pre-record lessons for subscribed clients to watch, even when you’re not available.

Obviously, live courses will always be more effective and can earn you a lot more money, but they’re also far more time consuming and take up a lot of extra effort. Pre recorded courses take little time to create, and you don’t need to stay on call with your clients to teach them. These kinds of courses are a bit cheaper to buy, but at the end of the day, clients can view them whenever they like at their convenience, and these courses can sell in higher volumes.

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