How to register a new business venture?

Last activity 19 June 2018 by GuestPoster1050

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earnestshellerMember19 June 2018 12:18:51

Hey,

I'm an expat in Canada. I got citizenship in late 2017. I work as a cleaning staff in a restaurant. It's really a low pay job and I have decided to quit. I'm planning to set up a commercial cleaning business in Hamilton. Operating as part of a franchise might be the way to go since I'm very much concerned about the stability of the business.

I'm ignorant about the procedures that should be followed to register a new business venture in Canada. I have listed a few online business consultancies providing assistance in registering a new business in Ontario. Please help me find a good one.

GuestPoster1050Guest19 June 2018 13:27:10

214245

You do NOT need a business consultant to register a new business in Ontario.

To save considerable costs, you should consider operating your business as a sole proprietorship at first. You can incorporate your business later when you start hiring employees.

Keep in mind, registering a new business is just one (small) step in owning a successful long-term business.

Do you have the necessary skills and experience to operate a small business?
Do you have the necessary capital to purchase a franchise?

One of my clients owns a small residential cleaning business in Hamilton. They bought an existing franchise (retiring seller) for $165,000 and earn about $70,000 per year after expenses.

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