What area of business would be most in demand right now in Toronto?

[Samurai Joey]

I have seen threads here on TERB about setting up a real estate firm here in Toronto, as well as someone interested in setting up a strip club here. From the responses I have seen thus far, the common theme around both threads is that neither business venture is particularly recommended due to a variety of factors (for real estate, cost and the potential of investing near the end of a bubble; for strip clubs, excess competition, among other issues).

This is a segue to the following question: what area of business (non-sex related) would be most in demand right now here in Toronto, assuming you either have capital of your own or investors to join in with you, and that you have the requisite skills?

BTW, at this stage, I have no plans on setting up my own business (if I do, it will likely involve independent consulting in my field, but that's another TERB thread topic), but am more interested in hearing from the rest of the TERB community on this.

 

[Samurai Joey]

It's curious that during the entire week I had started this thread, not a single TERB member have responded back. No one has any comments whatsoever?

 

[big apple]

Lending money

 

[djk]

This topic interests me but my answer wouldn't apply.

I'm a big fan of fixed income. Right now, I'm doing my due diligence on real estate. My current game plan is to acquire rental properties in markets like Hamilton.

 

[papasmerf]

that is easy


DRUGS

 

[Peter123]

soup kitchens
flop houses
pay day loan sharks
pawn shops
trustee in bankruptcies
divorce lawyers

 

[djk]

s
pay day loan sharks
pawn shops

I really these operations. As unsavory as it sounds, businesses that target the poor can be extremely profitable as they're not savvy clients.

Ex. http://www.tested.com/forums/tablets/19/wtf-hp-touchpad-rent-to-own/10675/

At the time, normal retail was $499 outright.

 

[Rockslinger]

During these difficult social, political and economic times we all need one or more LIFE COACHES to get us through this life. The life coach business is booming!

 

[papasmerf]

during these difficult social, political and economic times we all need one or more life coaches to get us through this life. The life coach business is booming!

​breathe damnit

 

[MattRoxx]

Don't have a specific answer for the type of business. However there is construction going on now in the West Don Lands for the 2015 Pan Am Games and there's got to be some way to get in early and make some money off this project.
http://www.waterfrontoronto.ca/explore_projects2/west_don_lands/2015_pan_american_games

 

[Rockslinger]

However there is construction going on now in the West Don Lands for the 2015 Pan Am Games and there's got to be some way to get in early and make some money off this project.

That is being taken care of by 100,000 illegal Russian construction workers.

 

[oil&gas]

That is being taken care of by 100,000 illegal Russian construction workers.

In that case setting up an agency to help local construction firms to import
(or smuggle) Russian workers could be a good business to invest in.

 

[afterhours]

In that case setting up an agency to help local construction firms to import
(or smuggle) Russian workers could be a good business to invest in.

re this and the family lawyers comment - as side note, only a lawyer can own and operate a law firm, and this market is over saturated as it is.

Also, if you want to make a buck you better look for a line of business where your employees will not be lawyers, doctors etc, because they can leave with your clients and there is fuck all you can do about it.

 

[ig-88]

imo, here's the bottom line:

you need to find something you have a passion for

something you love to do, regardless of the money

then ... find some way to make money (a business) out of it

and ... it's not for everyone (some are leaders, some are followers, that's just the way it is)

 

[havingfun]

Start any business you feel like starting. Just be better at it than the competition. And make sure that your business is recognized for that.

 

[djk]

imo, here's the bottom line:

you need to find something you have a passion for

something you love to do, regardless of the money

then ... find some way to make money (a business) out of it

and ... it's not for everyone (some are leaders, some are followers, that's just the way it is)

The doing what you love and get paid for it sounds very logical.

But for a lot of people, it doesn't always work out that well - http://youarenotsosmart.com/2011/12/14/the-overjustification-effect/

 

[Samurai Joey]

Start any business you feel like starting. Just be better at it than the competition. And make sure that your business is recognized for that.

What you are stating is so ridiculously obvious as to not even be worth stating. For the record, I have no plans of starting my own business. I'm asking what (legal) industry or sector is most in demand right now in Toronto, not what type of business to start in, and I am asking for pure interest.

 

[Samurai Joey]

that is easy


DRUGS

I suppose I should have stated earlier in my thread that I was interested in a legal business area that is most in demand in Toronto.

 

[LKD]

imo, here's the bottom line:

you need to find something you have a passion for

something you love to do, regardless of the money

then ... find some way to make money (a business) out of it

and ... it's not for everyone (some are leaders, some are followers, that's just the way it is)

well said...

Canada is such a big country, constantly growing, more people coming into this country. There is no such thing as what business is best and what is not. Its what one does and how one run it. One could think there are waaayyy too many restaurants in Toronto to start one of your own. The way I see it, if you're passionate about it, you could become the next famous restaurant. There are always opportunities. Do it because you're passionate and have knowledge on the field, not because the chances of making it big are better in it.

I've come across many immigrants who've made it big in this country, only because they had the drive and wasn't afraid to take some risks.

 

[Samurai Joey]

soup kitchens
flop houses
pay day loan sharks
pawn shops
trustee in bankruptcies
divorce lawyers

(1) I may be mistaken, but my understanding is that soup kitchens are typically run by charities/not-for-profits, and thus I do not really regard it as a business.

(2) Since flop houses are a low-rent (pun intended) sub-category of the real estate business (assuming it is not public housing), I am curious about the start-up costs to purchasing such properties here in Toronto.

(3) There does seem to be an abundance of pay day loan services on the web, so I'm curious as to how one can break into this area.