Want to be your own boss and work your own hours? The idea of starting a business is appealing to a lot of people and can be very rewarding. There is a lot of information and resources available on the internet to help you get oriented. You have 3 options:

   

    1) Start your own Business

    This is the most challenging option. You will have to do your research, come up with an idea and a business plan, market your product(s) or services and establish your clientele.

    2) Buy an Existing Business

    This option has advantages such as an already-established clientele and an existing business method. But, you have to analyze why the business is for sale and what it is really worth, as well as how prospective it will be in the future.

    3) Start a Franchise

    A franchise is an authorization to an individual or company allowing them to carry out specific commercial activities (goods or services). A franchising company (franchisor) sells businesses or brands to small businesspersons. Usually, the franchisor supplies the product, materials and information on how to run the business. The franchisee (you) agrees to handle the product exclusively and run the business according to the franchisor’s standards. This option gives you the freedom to manage an independent business with the benefits of working for a large company.

 

If you would like more information please contact us and we will be happy to assist you: 416-767-4595

Where Can I get Help to Start a Business?

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  • Start a Business in Ontario – includes various websites and links including a business start up checklist, things to consider, and the Ontario Business Program Guide
  • Settlement.org provides a list of websites and centres that assist with starting your own business.
  • Investing in Business Innovation Program – This federal government program provides mentorship entrepreneurial support and up to C$1 million for eligible start-up businesses, to help pay for certain costs, such as labour, materials and supplies.