19 Most Profitable Small Business Ideas in Toronto (2024)

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 19 most profitable small business ideas in Toronto, Canada in 2024.

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.

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.

Must read: 20 Most Profitable Rental Business Ideas (2024)

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: Top 10 Most Profitable Small Businesses in Canada (2024)

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.

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.

Must read: 6 Proven Ways To Make Money On Facebook In 2024

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.

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.

Must read: Top 30 Small Manufacturing Business Ideas (2024)

18. 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.

29. 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.

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.