The best business ideas for Toronto in 2021

10 Lucrative Business Ideas and Opportunity in Canada 2021

Are you looking to start a business in Toronto? Are you struggling to come up with an idea? A unique business can earn you megabucks.

Starting a business is a great idea to be your own boss and make good profits. To run a successful business, you need to have basic business management and financial management skills. These can be learned through an online course. For the best online educational courses in Toronto, you can read reviews on sites like Reviews are an excellent way of establishing which online course providers can offer the best in business management courses and more. Click on the link to see how reviews can help you find the best courses possible.

What are great, low-cost business ideas for Toronto?

A business idea does not need to be new to be successful. Here is our list of unique business ideas that you can start in Toronto:

#1: A tea and coffee shop

Coffee is a beverage loved by many, while teas are a healthier option. Opening a coffee and tea shop in a popular area in Toronto can earn you great profits. While startup costs might be high, the returns are great. You do not need any formal skills to open a coffee shop. Partner up with a baker and sell their baked goods in your shop for a small percentage of the profits. 

#2: A Tattoo Parlor

Tattoo artists do not need any formal training and are mostly self-taught. A steady hand and great drawing abilities can help you run a successful business. Most equipment needed can be bought online. Choose a quirky or trendy neighborhood where most of the population is made up of students and young professionals and you have a winning business idea.

#3: Daycare and babysitting services

Are you passionate about caring for children? Do you have the patience to deal with children and keep them entertained for hours on end? Babysitting is the right career for you. Babysitting requires no formal skills. All you need is patience and imagination. This business requires zero startup costs and can be advertised using social media and word-of-mouth. Babysitting services are in high demand as parents seek alternatives to traditional daycares and au pairs.

#4: A party planning business

Who doesn’t love a great party? Planning a party can be a tiresome task. Hiring someone else to take care of the nitty-gritty details is so much easier. If you are highly organized and have great attention to detail, starting a party planning business can lead to great profits. Start-up costs do not need to be exorbitant. Save money by outsourcing suppliers and decor. Advertise your services on party groups and mom’s groups on social media. Word-of-mouth advertising is also a terrific way to advertise your business.


No matter how silly the idea, if there is a market for the service you wish to provide, your business will thrive. Come up with a great business plan and detail every aspect of your business from financial forecasting to operational activities.