Most immigrants come to Canada to work and build a better life, and for some that means starting a small business. But small businesses can come with big challenges and even bigger costs. From franchises to opening a retail shop, the costs of monthly rent, staffing and other overhead expenses can be overwhelming and pose a big financial risk. For Small Business Month this October, we have gathered five easy and unique business ideas to help aspiring immigrants venture into the business world at a lower cost and risk.
1. Forget the restaurant; drive a food truck
Many newcomers open restaurants in Canada, but it’s a tough business with lots of overhead and often tight profit margins. Did you know that food trucks are all the rage in Canada right now? Instead of having to raise capital to buy a franchise or start a restaurant from scratch with high monthly rent, a food truck gives owners the mobility that will allow them to, literally, bring their products closer to customers. Having your own food truck also requires a much smaller staff, menu and space — elements that are perfect for a burgeoning business owner.
2. Can’t find a job in your field? Freelance your services
Creative types like writers, marketers and designers can freelance their services from home. Not only can you dictate your own hours, but you also get to pick the amount and kind of work you will be signing on for. Freelancing doesn’t involve a huge monetary investment — and can even be done while maintaining another job — but an aspiring freelancer should spend time building his or her brand to attract customers.
Building a brand includes steps like building a website where customers can easily contact you, having an accessible portfolio of your past work and publicizing your services through networking and social media like Twitter and Facebook. You can also find work through online freelancing websites like freelancer.com or odesk.com.
3. Businesses on the go: mobile services
Skilled immigrants can also start their own mobile service business. Anyone from hair stylists, dog groomers, landscapers, cleaning personnel and music teachers can try their hand at providing their services by travelling to client’s homes for a fairly low cost.
Landscaper and pest controller Sanjay Padrala has experienced success in doing this.
Padrala, who moved from India in 2007, built on his background as an architect and landscaper to start Bugman, a landscape and pest control business.
“I was working as a landscaper when I first got here, but landscaping is a seasonal job and there’s not continuous work in the winter,” Padrala says. “So I figured I could build on that, get my operating license for pest control and create my own business.”
Bugman has grown since its opening in 2010. Padrala and his team currently work with residential and commercial clients including chain hotels and property management companies.
4. Online or pop-up stores
Crafty immigrants can sell their wares like art, clothes and more through online stores. Instead of opening a boutique, you can easily sign up for an Etsy account online and sell your products across Canada and overseas via this web site.
In addition to an online store, you can also set up a pop-up shop, a growing practice where building operators let business owners sign a lease for short periods of time. The pop-up shop requires a smaller investment and could be a great starting ground in figuring out whether you’d like to build a more permanent boutique.
You can also use these channels to sell products you simply purchase and distribute, including goods imported from your homeland that are not available here.
5. Parents providing childcare
Daycare costs today can be expensive, and many couples opt to have one parent stay at home with their kids. You could turn your decision to stay at home into a side business, by offering to care for other children, too, with your own daycare or babysitting service. There are some rules around this, and in some cases you have to become licensed, but there is great demand for daycare, especially ones with flexible options.
How to succeed in your small business
Starting your own business from scratch is always a challenge, but creating one after moving to a new country is much more daunting. With the help of Marion Annau, founder of Connect Legal, a company that provides advice to immigrant entrepreneurs, here is a step-by-step guide to help business-minded immigrants make the process of owning their own business easier.
1. Identify the demand for your service
Businesses are driven by equal parts passion and profit. While it’s important to be passionate about your venture, you have to ensure that there is also a real demand for the service or product you are providing.
2. Look for existing resources that could help
To avoid stepping into the business world blindly, new business owners should seek help from available resources. There is an abundance of organizations and programs dedicated to helping business owners get on their feet, but some are not always well-publicized. Some good starting points are business centres in local municipalities, public libraries and micro-lending programs.
3. Find a mentor
A mentor is someone in your chosen industry who has experienced success and is willing to show you the ropes. By learning from a mentor, you could be privy to tips and insider information you might not be able to pick up until you’re an industry veteran. You can find a mentor through community events or joining mentorship programs that partner you up.
4. Maintain financial flexibility
Be careful not to overextend yourself financially especially in the early stages of your business. Make sure that you don’t lock yourself in long-term expenses and instead seek to maintain financial flexibility to manage unpredictable cash flow.
5. Network!
Building relationships is an extremely important requirement in doing business in Canada. Immigrant business owners can begin networking through joining organizations or attending related events.
Originally published by Canadian Immigrant magazine
