Below we’ve compiled 75 of what we believe are the best Toronto business ideas worth opening in 2023. Toronto is a business-friendly city that offers many opportunities.

Toronto is the fourth largest city in North America. One-quarter of Canada’s population is within a 160 km (100 mile) radius. Moreover, Toronto is just a 90-minute flight away from more than 60% of the population of the United States.

BEST NEW BUSINESS IDEAS FOR TORONTO 2023

After an in-depth analysis by BusinessNES, we conclude that when looking for the best business ideas for Toronto, it’s worth considering these few categories in particular:

  • businesses that make life easier and better (convenience and new technologies),
  • businesses that help bring people together (networking, places where you can meet people),
  • businesses related to big capital and providing services and sales for it,
  • businesses that allow people to relax, stop running and take a break from fast-paced life (such as businesses related to culture, hobbies and fun).

 

1. Personalised phone cases
In recent years, an increasing number of people are looking for personalized and customized products. A great example of a product that everyone uses on a daily basis are phone cases. Many customers will pay a lot for such a personalized and customized phone case (with the right design with the right elements and accessories, etc.). While this is primarily the domain of high-end brands, personalised phone cases can can also be a great idea for small and start-up brands.

2. Healthy & organic fast food
Toronto residents are increasingly aware of health and the importance of quality natural food. In fact, organic products have become a trend for middle and upper socioeconomic groups, who are interested in sustainable and healthy lifestyle. The demand for organic foods is expected to continue to grow in the future, that’s why healthy and organic fast foods once invented are very likely to become extremely profitable. 

3. AI-based production of a high quality content
Artificial intelligence is already increasingly being used to generate high-quality content (such as photos, video, graphics, text or music, among others). Many free or relatively inexpensive AI content creators can already be found on the market, so such a business does not require a lot of start-up capital. By creating content in this way, we can, among other things, generate (and therefore sell) new content and products that will find application in many companies organizations and individuals. For example, a company can order a creative report visualizing possible modifications to its products in the future. Or a marketing company can order AI-generated audio for an advertisement they are creating. Such products and services can already be created with AI in abundance. And their quality is already becoming extremely high in many cases.

4. Smart jewelry (startup or a store)
Intelligent jewelry is a combination of beauty, prestige and cutting edge technology that makes life easier. Smart rings, necklaces and bracelets have become increasingly popular in recent years, but the market is still underdeveloped and full of numerous opportunities.

5. Online subscription services for homes
Every apartment in which a family, a group of people, or even single people live needs certain fixed goods that are used daily, weekly or every few weeks repetitively. To make life easier and save time, many such products can be subscribed thanks to the home goods subscription business. Such services are already becoming popular, but will certainly become much more important in the future. Permanent subscription of recurring essential goods is also a great business idea aimed at businesses and organizations (e.g. schools).

6. Secondhand retail
A great business idea in Toronto is second hand retail business. Torontonians buy and also dispose of masses of items. Many such items have value and can be repurchased and then resold at a high profit (you can find many e.g. on eBay, Poshmark, ThredUp, Bonanza or Facebook Marketplace). To succeed in such a business, it is advisable to start by specializing in one niche of such seconhand retail, achieve a high level of professionalism in it, and only then expand into other niches.

7. Virtual assistant services
With the increasing use of technology in business operations, virtual assistants are in demand for tasks such as scheduling appointments and managing social media accounts. The range of services that such virtual assistants can provide is very wide. It is especially profitable to provide highly specialized and professional services. 

8. Urban farming
A profitable idea for a small business in Toronto is urban farming. There are many types of urban farming to consider, the most profitable of which include microgreens farming, mushrooms farming, auaponic farming, vertical farming and greenhouse farming. Agricultural products produced in this way can be ideal for nearby restaurants, stores, food-related businesses and individual customers (you can find them e.g. through social media). The advantage of this type of business is the high potential for scalability. You can start with a small capital, even in your garden or in a small room (some urban farmers grow crops even in the basement like these urban farmers and make very good money out of it).

9. Innovative entertainment
Torontonians love entertainment fun and excitement. This is a very important and broad area full of many great business opportunities. Examples of such entertainment business ideas for Toronto include clubs, restaurants and bars in which people wear VR googles, entertainment lounges in which robots work, mobile sauna and cold showers and other mobile entertainment services, drone display or augmented reality games set in Toronto (like the well-known Pokemon Go). Emerging new technologies are creating a whole lot of good opportunities for a new profitable entertainment business.

10. Virtual reality therapy
Virtual reality technology is being used in various industries, including healthcare for therapy and treatment purposes.  VR therapy allows for example for exposure therapy to mimic any triggers, stressors that the patient has. In this way, the patient can gradually become accustomed to the stressors. Therapy using VR can also promote relaxation, strengthen the patient’s resilience, and teach the patient new positive responses and behaviors. These are just a few examples of how therapy with VR technology can work. There are many more possibilities, and demand for them is sure to grow.

11. Virtual events management
Virtual events are becoming more and more popular. There are not yet many companies that provide virtual event management services. And the demand for them is growing rapidly.
There are many reasons why people and businesses would choose to have a virtual event instead of an on-site one. One of the most popular reasons is that it is cheaper to have a virtual event than an on-site one. Another reason could be that you want the event to be accessible for your participants no matter where they live or what time zone they live in, which can’t be done with an on-site event.

12. Vending machines business
This is one of the most profitable and forward-thinking Toronto business ideas. Such a business has great potential, is highly scalable and is still relatively underdeveloped in Toronto. Such machines can offer hot food like soups, pizza, panini or even ice cream) also healthy and organic food vending machines can be very profitable business. 

Read also: 75 TOP Vending Machine Business Ideas

13. Organic beauty products
In recent years, more and more consumers in Canada have been paying more attention to the quality of products and how they affect their health and the planet. For this reason, organic beauty products such as organic facial oils, organic body scrubs, organic tanning lotions, organic body wash, organic soap and organic make up products are increasingly in demand. It’s a niche business that is still relatively young and has very high potential for growth in Canada.

14. Local grocery delivery services in your community
Many large stores offer product delivery and there is nothing special about it anymore. However, most small local stores still do not offer such services, so this is a great niche for a profitable business. All you need to do is organize a good network of professional and trustworthy shopping couriers and you can start such a business.

15. Premium outsourcing services for rich people
Another interesting idea for business in Toronto is to offer specialized assistance and outsourcing services for rich people and VIPs who need, for example, someone to do their shopping for them, wash their car, mow their lawn or perform some other task. Wealthy Torontonians need professional and trustworthy associates, so if you are able to gain the trust of such clients and offer them the highest possible level of professionalism, you will be able to make some really big money.

16. Pet food delivery services
Pet food subscription, animal food catering, and organic pet food are new businesses gaining popularity in Canada. It’s a convenience for owners who thus don’t have to spend time buying food for their pets.

17. Farm-to-table meal delivery
The idea of farm to table food and meals has become increasingly popular in recent months. The idea is to eat locally grown and produced foods made in Canada (preferably made near Toronto). By choosing such products, consumers are supporting local brands, as well as getting fresher, less chemical-laden food (which doesn’t have to be as preserved as, say, the same food produced in Asia or South America). A major advantage of farm to table food is also its climate friendliness. Such food does not have to be transported as far thanks to which less fuel is used.

18. Robots store
Robots are still in the early stages of development, but more and more of them are in demand. A great business idea for Toronto could be a specialized store that sells robots, or some specific species of robots. Already very popular types of robots include: cleaning robots, cooking robots, robots for kids and articulated robots. Another interesting type of robots are cobots, which are robots created to function alongside or directly with humans, as well as industrial robots, and robots used for entertainments.

19. Drone surveying
Surveying with a drone is a new and very promising business that is already in high demand. Drone surveys are very useful in land surveys, 3D mapping, photogrammetry, and topographic surveying. Such drones equipped with the right sensors are also finding applications in many new fields. Companies offering such drone surveying services can certainly count on many customers today and in the future.

20. Drone videography & photography services
A business that is in growing demand in Toronto and across Canada is professional drone photography and videography. Such footage is especially needed by business owners, advertising producers and has applications in many other fields. Examples of services that such a business can offer are luxury real estate photography & videos, event & festivals photo and film making or construction drone film making.

21. One niche oriented co-working space rental
Coworking space rental is a very good business idea in Toronto. Many companies, freelancers and entrepreneurs, as well as artists and scientists need such spaces to maximize their potential. A good way to strike out with such business is to offer coworking space for specific sectors of business, art or science. Many people prefer to work among people in similar fields, so they can exchange valuable information and learn from each other.

22. Urban farming consulting, accessories sale & related services
Urban farming is a new business niche gaining a lot of popularity. However, urban farmers need to acquire knowledge, buy necessary accessories (such as lamps, racks, irrigation systems or pots for urban farming), and some of them probably also need some services and consulting. This is a very forward-looking niche full of many opportunities. Another example of a business in this niche could be a store selling products, accessories and seeds for urban farmers.

23. Personal shopper services
Many Torontonians love to shop and buy new clothes they do not have enough time to do so. The solution to such a problem is personal shopping services. Such services can be provided directly or over the Internet (e.g., in the form of video chats and also uploading photos or videos). This business has especially great potential in the age of VR and the Internet. Innovative offers and attractive advertisements will be very useful for success in this business.

24. Organic private catering (certified & high quality)
Organic, healthy and proven high quality food is a revolution bigger than many can imagine. Many people want to combine health with convenience, so a very profitable and forward-thinking business idea in Toronto is to offer organic healthy food catering and also services such as organic food boxes subscription.

25. Compostable packaging design & manufacturing
Plastic packaging is a real problem in the modern world. Many companies want to use planet-friendly packaging, but there are still not many companies on the market that offer professional services of this type. A great idea for such a business can be a company that offers customizable packaging made of ecological and biodegradable materials. Such packaging is needed in different versions and must have different strengths and be adapted to different conditions, including those such as moisture or heat.

26. Mobile hair styling services
Torontonians love to look good and take care of their hair. Many don’t have time to go to a salon so a great solution to this problem can be a mobile hairdresser and mobile hair styling services. This will give the customer beautiful hair when and where it is most convenient. To maximize the success of such a business, it is a good idea to advertise such a business well on social media, local press and Google Ads.

27. Professional decluttering services
Many Torontonians have a problem with too much junk and unnecessary items in the house. For many people, it’s also difficult to deal with such junk when moving house. The answer to these problems is professional decluttering and organizational services that make it easier to clear your home of unnecessary items. Yes decluttering company can also offer organization and management services for your home or office or business, for example, take care of cleaning, air conditioning repair or renovation.

28. Ontario Lake boat tourism
Ontario Lake offers great potential for boat tourism. Tourist cruises, photo expeditions, organizing parties and events on boats, as well as renting such boats with a helmsman can be a great Toronto business idea. It’s important to properly advertise such a business and use certain marketing tricks to make sure as many customers as possible hear about such a business.

29. High-end home cleaning services
Many wealthy Torontonians need help with house cleaning, cooking or childcare, but they require truly professional and trustworthy people who will do it. The answer to such needs is a high-end home cleaning company that will offer the highest quality, handle precious items in the right way and, most importantly, offer 100% security and discretion so that the homeowner does not have to worry about their safety, privacy and expensive items.

30. VR testing services
VR testing services is the next big niche in the business that will grow intensively and is already starting to become popular. Examples of such VR testing services include clothing try on apps, 3D real estate or hotel virtual tours. Testing in VR can also be very useful in architecture, space business, urban planning and construction. It can be a great business to both offer services for such product testing, and to design such applications and programs that allow such VR testing to be as convenient as possible. A very good business idea can be also virtual interior design consulting.

31. Smart homes development
Whether you’re an IT specialist or want to start your own smart home company, there are many reasons to pursue a career in smart home technologies. The first benefit is the potential to become an important part of a rapidly growing industry. Smart homes can provide a lot of benefits to the homeowners and can help businesses minimize their costs and waste. In addition, more and more new advanced technologies used in smart homes are being developed every year, so demand for this type of service will increase.

32.  Subscription boxes
The subscription business model is on the rise, with more consumers wanting convenient and personalized purchasing experiences. Businesses in various industries can capitalize on this trend by offering subscription box services.

33. Energy efficiency consulting
Energy efficiency consulting is a new very fast-growing business sector that is sure to play an increasingly important role in the future. Saving energy and reducing energy costs is something that most businesses and organizations as well as many individuals care about. Services related to energy efficiency inspection can also be energy measurement & verification; energy audits; energy efficient building construction and construction or Energy & Daylight Modeling.

34. 100% organic grocery store
If you want to start an organic grocery store, you need to know some important factors. The most important factor is sourcing the best suppliers for your products. This should be done by contacting the major organizations that favor organic products and ask them to provide you with better bulk deals. Next, you need to educate your staff on the benefits of organic products. 

35. Dropservicing business
Similar to dropshipping, you can outsource services to others and take a commission on sales. This can be anything from graphic design, copywriting, data entry, translation and video editing services to book covers design, SEO and much more. Great places to sell such services are Fiverr and Upwork.

36. Senior at-home care 
Toronto’s population is aging and people are living statistically longer, so various elderly care services are in high demand. Likewise services offering for care for people with disabilities. Many such elderly or disabled people need assistance or care in their own homes (where they feel more comfortable than in a retirement home, for example). Such professional services tailored to clients’ needs in their homes is a great business idea that can bring in very high profits.

37. Property management & maintenance services
Toronto’s housing market is huge and full of great business opportunities. With a population of over 6 million people in  the Greater Toronto Area there are huge needs and demand for housing and all the related services such as maintenance, real estate advertising, finding clients and tenants as well as renovations, refurbishments or furnishing. The use of the latest technologies, innovations and trends (such as micro-apartments) is the key to success in this niche.

38. Cafeteria with robots-employees
Robotization is one of the most important trends that are currently advancing in the economy. Robots can also be an interesting attraction and a unique element that will give a unique character to a business. An interesting idea for such a business in Toronto could be a cafe with robot employees. Such an unusual form of cafe is sure to attract many customers. Another idea could be a bar or restaurant in which customers will be served by robots.

39. Monitoring gadgets & robots for the elderly
Many seniors need care, some of them need someone to watch over them even 24 hours a day. It can be very difficult and expensive (if a human is to do it), so advanced gadgets and robots for monitoring and contact with seniors can be a big help here. Such robots can remind seniors when to take drugs or when to eat. Such robots or gadgets can also monitor the behavior of the elderly, their safety and health (using appropriate cameras and sensors).

40. Startup hub
Since Toronto is the business and financial capital of Canada, the city is full of money to invest and full of talented and educated people with attractive business ideas. Therefore, a good business idea for Toronto can be the creation of modern startup hubs. To make your startup hub more attractive, you can start by specializing in one area, e.g. a hub for tech startups, a hub for startups invented by young people under 18, a hub for senior startups, or a hub for medical, chemical or financial startups.

41. Artificial Intelligence services & software 
This is a huge niche that is already finding its way into many types of business. Lucrative examples of such types of business are:  AI in recruitment; AI in customer service; AI in customer acquisition; AI in ecommerce; AI in customer retention; AI in marketing automation; AI in seo; AI in ppc campaigns; AI in crm; AI in customer feedback and reviews.

42. Mobile dry cleaners
Mobile dry cleaning services are a great way to save customers time and make it easier for them to clean their clothes carpets and other fabrics. A great way to entice more customers, for example, is to offer free pick up & delivery for orders over $100.

43. Advanced tools & machines rental
Canadian economy is full of businesses and people who need to rent various types of machinery and tools. A good example in the case of some advanced and expensive machines might be to offer to rent such machines with service. Examples of such machines include vending machines, various types of office machines such as scanners and photocopiers, coffee machines, as well as all kinds of industrial machines. The list of such rental machines is really long and creates great opportunities for a profitable business in Toronto.

44. Drone store, services & consulting
Drones are still a relatively new technology that is already revolutionizing many areas of life. The demand for drones and related services continues to grow, so ideas such as a specialized drone store, drone repair and custom drone building services for given tasks, and drone consulting and education are all promising ideas for a successful business in Toronto.

45. Luxury pet products & services
Many pet owners want the best for their pets and want to give them as good and special a life as possible. For this reason, luxury pet services such as luxury pet sitting for clients with high-end needs and preferences, as well as luxury pet clothes, ornaments, beds and toys, are becoming increasingly popular in Canada.

46. Digital schools & professional virtual education
While there are already many online education apps and programs out there, this niche still has many business opportunities ahead of it. Examples of such profitable education businesses include learning niche skills online , niche schools, learning using VR technology (e.g. a metaverse school where students participate in VR lessons and lectures), or customizable online schools where the student can choose exactly what they want to learn.

47. Virtual home staging
Using virtual reality technology help clients stage their homes for potential buyers without actually moving furniture. A good idea for such a business can be both the creation and sale of software for such virtual home staging and home staging services performed using such software (e.g. using VR).

48. Marketing in metaverse
It is already apparent that the metaverse is becoming a huge market that will play a tremendous role for humanity in the future. The metaverse while attracting millions of users, will also become a natural place for business and advertising to be displayed and shown in the metaverse in a unique way, and advertising rights in the metaverse will probably be less regulated and more free at first. Ideas for such a business could be an advertising agency displaying ads in the virtual world of the metaverse, as well as various forms of advertising and selling goods and services in the metaverse aimed at individual customers. These are just a few of the possibilities, and there are a whole lot of them.

49. Ethical hacking business 
As hacking attacks are becoming a threat to many companies, and to many people’s capital, numerous companies are able to pay more and more for ethical hacking services and for security testing of their secure systems. It’s a great business idea for American IT talents and programmers who like challenges and are familiar with IT security systems.

50. Go direct to consumer products
Many original and unique products are characterized by availability only in certain places or in a few stores. Such products are often rarities that customers would be willing to pay a lot for, but they can’t buy them at their local supermarket, grocery stores or local market. The solution to this problem is a go-direct-to-consumer business that delivers customers their favorite products even from remote locations. Examples of such products include e.g. : lobsters from Alaska for consumers in Toronto or Swiss cheeses for consumers in Ottawa.

51. Metaverse events & conferences organization
Organizing and hosting metaverse conferences and various events is a business opportunity that is growing in popularity. This type of events draws participants from all over the world, allowing people and companies to reach a wide audience and help industries evolve. While this type of event is a bit expensive, you should know that it will be more cost effective over time as VR technology becomes more prevalent. Additionally, this type of event is unique, giving you an edge over your competitors later on.

52. Minority store
Toronto is full of various minorities. This creates many opportunities to create unique businesses with the profile of a particular minority, offering unique products or services that are hard to find in other stores pubs or restaurants. Uniqueness is a very profitable trait in business, so such businesses can be very successful and attract many customers with its uniqueness (even customers who do not belong to a given minority)

53. Mobile manicure & pedicure services
Beautiful nails are something that many women in NYC love. However, many ladies sometimes don’t have the time or inclination to go far to a beautician. An interesting solution to such a problem can be mobile manicure and pedicure services.

54. Fishing charter & fishing boat trips
An interesting business idea in Toronto, as well as in other parts of Ontario, is to organize fishing expeditions and various activities for beginners and advanced anglers. From training and educational cruises, to professional fishing expeditions for experienced anglers. Such attractions can be ideally combined with tourism. It is good idea to promote them by cooperating with hotels and restaurants and also by advertising on social media.

55. Parking space or garage rental
It’s usually extremely difficult to find a free parking space in downtown Toronto, especially during the day, so business ideas related to parking can be very profitable. It can be also a good idea to rent or sell parking spaces and garage spaces. Demand for such spaces is very high.

56. Cybersecurity agency
Cyber security is becoming an increasingly important security sphere of strategic importance in the 21st century. More and more small businesses as well as individuals need such professional services and consulting. Examples of cost-effective cybersecurity sevrices include cybersecurity audits for private and business clients, cybersecurity education and the installation of cybersecurity protection software, and the development of professional cybersecurity strategies for companies and private clients.

57. Anti-aging & skincare services on demand
American residents are statistically living longer and longer, which is associated with a growing population of elderly and old people. Many older people, especially women want to look young and beautiful. Such people are able to pay really a lot for effective skin rejuvenation improving appearance and professional rejuvenation. There are already a lot of such offerings on the market, but there is still a lot of space for new businesses using innovative methods. Such a business could be, for example, offering such rejuvenation services and treatments with home delivery, or at another place tailored to the customer.

58. Agritourism & ecotourism business
Many Torontonians need a break from city life or work, or want to show their children what a peaceful rural and natural life looks like. A great way to do this is to take advantage of agritourism or ecotourism. Such businesses can offer customers contact with rural animals, the opportunity to try rural work, accommodation in the countryside or in attractive natural locations, and natural organic food (as well as natural preserves and rural meats). These are just some of the attractions that can be offered. To maximize the number of customers, it is worthwhile to properly advertise such a business online and on social media.

59. Genetic testing
Genetic testing has become very popular in recent years and is a very forward-thinking and profitable niche in international business. Many people want to understand their ancestry, test and understand their genes, or understand what genetic diseases they may be susceptible to, so that they can take care of their health in time. Genetic testing can also have broad applications in many other niches, including animals. Profitable businesses in this field include not only offering such tests, but genetic consulting, genetic auditing with personalized advice, genetic dietetics or professional ancestry testing services.

60. Aromatherapy business
A small business based on aromatherapy can be a profitable venture. This type of business can offer many benefits to both the company and its customers. A formal marketing plan can help you develop a distribution and branding strategy. The plan should be tailored to the needs of your potential customers. You will want to identify your target market during the research phase.

61. Smart security systems installation
Security is one of the most important human needs. This is also the case for Torontonians who are concerned about the security of their nearby homes and businesses. One of the best ways to ensure this is by installing professional home security systems and also offering security services.

62. Energy auditing & efficiency services
If you’re looking for a profitable business idea, you may want to consider starting an energy auditing company. Not only can this business help homeowners reduce their energy bills, but it can also help businesses reduce their carbon footprint. In addition, energy auditing companies can help businesses improve the energy efficiency of their buildings.

63. Online florist & flower and gift delivery
Flower and gift delivery is an interesting business idea in Toronto. Many people think about how to thank someone, surprise them or express love. Such flower and gift delivery is a great idea to do just that. In order to succeed with such a business, it is worth using the most innovative methods, offering the maximum good customer experience and also delivering gifts in such a way that the recipient of the gift feels as comfortable as possible.

64. Organic baby food business
As the health consciousness of consumers in Canada increases, so do the demands on organic high quality baby food. A great business idea for Toronto in this niche could be not only organic baby food brand, but also organic baby food stores and online stores with premium organic food for babies, as well as organic baby food catering.

65. Electric vehicle charging station installation & services
EV charging stations are a new niche in the business that has been growing very rapidly in recent years. Such stations require installation and, as they are used, maintenance and repair services as well. EV charging stations also provide a good opportunity to sell the most popular products, for example, in vending machines standing next to such stations.

66. 3D printing & designing
3D printing has become very popular in Canada, but there is still a mass of business opportunities in the field, especially in Toronto and in other major Canadian cities. 3D printing on demand with shipping, 3D printing along with 3D scanning, and 3D printing linked to the metaverse, VR and artificial intelligence are other niches that have huge potential ahead. 3D printing technology continues to develop rapidly and, combined with other new 3D technologies, is creating more and more profitable business opportunities.

67. 3D modelling & scanning 
3D scanning and modeling are other very forward-thinking business ideas that are already in high demand. Such scanning has applications not only in industry and manufacturing, but also in games, animation or movies. Such scanning can also play a very important role in the metaverse, NFT and in many new technologies.

68. Online content production
There are a number of reasons why an online content production business is a profitable and future-oriented business idea. For one, people don’t need much initial capital to create content, so it might be relatively easy to start such business. The most successful content creators play the long game, and they have goals beyond just growing their audience. They create content that people follow, and they become “avatars” for specific ideas on the web. However, people can tell when someone is just hacking it, so they need to make sure they’re genuine about what they’re doing. To do this, you’ll need a good system and a good toolkit.

69. Medicinal herbs store
Herbs and natural medicine is an interesting field that attracts many customers. To be successful, it is worth offering the highest quality products (such as organic herbs) and also professional customer service. Proper online marketing and social media advertising will be very useful.

70. Membership clubs
Another of the very forward-looking Toronto business ideas are subscription-based membership clubs, such as those offering exclusive deals or unique experiences. Such businesses are already becoming a popular business model.

71. Podcasting
Podcasting is a particularly good idea for Toronto and other American residents. Good and professional English speaking skills are the basis for running a successful podcast that will gain many audiences around the world. English native speakers already speak fluent English, so as long as they have an idea for a creative podcast, it’s worth a try.

72. Renewable energy repair & maintenance
Green energy involves a lot of installations, connections and technical conversions. Renewable energy also requires maintenance and service, and sometimes repair of used equipment. Since this field of energy is currently developing a lot, the demand for this type of repair and maintenance services will increase. Selling and installing green energy can also be a good business idea.

73. Mobile clinic 
Mobile medical and health related services is another one of innovative and interesting Toronto business ideas with great potential. People are becoming more and more concerned about their health, and at the same time becoming more and more convenient, so such a business has a good chance of success. Such a business could, for example, offer oxygen, CPR, medicine, doctor, nurse.

74. Junk removal service
Often people or companies want to dispose of a large amount of junk, or something that is too large or heavy to remove without the help of a professional company. If there isn’t one in your area, you may want to consider starting such a business.

75. Small scale manufacturing
Small scale manufacturing may be a good idea for a profitable business to start in Toronto. It’s important to make a business plan and analyse the market and your competitors. There are a number of very profitable products to manufacture which can generate a lot of money. Examples of such products are: shoes, soap, scented candles, perfumes, cookies, home decorations, furniture, jewelry and many other items.

Read also: 200 Most Profitable Product Ideas to Make and Sell Easily

 

Other profitable business ideas to consider in Toronto:

 

  • Mobile high-pressure washing business
  • Antique & vintage store
  • Paid workshops for various groups (youth etc.)
  • Marketing services & consulting  for small businesses
  • Niche online store
  • Open a start-up hub
  • Home-brewing kits & subscription boxes
  • Organic pet food brand
  • Privacy protection agency
  • Start a dog clothing brand
  • Solar panel cleaning & related services
  • Video editing agency
  • Market research & surveys agency
  • Custom product boxes & packaging
  • Luxury & high quality reusable grocery bags
  • Personalized jewelry creation
  • Virtual coworking space
  • Niche products print on demand
  • Glamping (sale & organization)
  • Organic agricultural products wholesale distribution
  • Chauffer & vip transportation services
  • Handmade crafts
  • Custom scent creation
  • Production of medical devices and diagnostics
  • Biomaterials manufacturing
  • Biotech pollution control company

A good business idea for Toronto could also be to sell online high demand products. That’s why, we have prepared this list of TOP 30 Products to Sell in Canada Online.

 

Consider that when starting a business in Toronto:

 

  • Toronto is a place full of many cultures and opportunities – Toronto is full of many different points of view, unique people, including tourists and business people. You can learn a lot from them and also gain a lot of inspiration. This mix of diversity creates a great deal of opportunities in many niches in business.
  • Many rich people and big capital – Toronto is full of opportunities for big capital, investments and rich clients (Toronto is undoubtly financial capital of Canada. Five of Canada’s six largest banks have their headquarters in Toronto, near the country’s biggest stock exchange – Toronto Stock Exchange). Such big money, big companies, funds and rich people can be great clients of your business. 
  • In between New York, Ottawa and Chicago – The location at the border with the United States provides tremendous business opportunities. For example, tourism, attracting investors, or exporting and importing products and services.
  • Torontians live very busy lives – Many Torontians are in a hurry and work a lot. This means that Toronto residents need services or products that help them relax, slow down and take it easy.

And how do you think? What are the best new business ideas in Toronto? Share your ideas in the comments section below.

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