Is it profitable to open a financial services business.pptx

Is It Profitable to Open a Financial Service Business in Canada?

In this PPT, we explore the profitability of starting a financial service business in Canada. We'll cover:

1. Overview of the Industry 📊: Insights into Canada's financial services sector.
2. Step-by-Step Guide 📝: From market research to launching your business.
3. Requirements 🎓: Necessary qualifications and licenses.
4. Cost vs Revenue 💸: Initial investments and potential earnings.
5. Pros and Cons ⚖️: Benefits and challenges of the business.
6. Top Expenses 💰: Major costs including office space, technology, and marketing.
7. Conclusion 🏁: Final thoughts on the profitability of this venture.

Discover if starting a financial service business in Canada is right for you! 🚀

#FinancialServices #BusinessStartup #Entrepreneurship #Finance #Canada

1. Subscribe to my YouTube channel – Real estate and Taxes with Lakshay

2. Is it profitable to open a financial services business (Accounting, Real estate or Insurance)? By Lakshay Gandhi 647-987-4025 [email protected]

3. Agenda Requirements to operate a successful financial services business Steps to register a business in Canada Revenue vs Expenses Pros and cons Conclusion

4. Steps Pick a name (check if the domain name is available), logo and color scheme Fiverr and UpWork offer these services at a very affordable cost Create a detailed business plan (geographic location, target audience, marketing strategy, finding a mentor) Decide if you want to operate as a Corporation or Sole Proprietor $200 federal vs $360 provincial registration Liability/Errors and omissions insurance Can you operate this business from home or need an office/co-working space?

5. Requirements Licenses and fees (every province has its own rules and certifications) LLQP insurance license takes 3 months Becoming a CPA requires educational qualifications and 30 months work experience For a real estate salesperson license – 5 courses, 4 exams and 2 simulations need to be completed in a maximum of 24 months

6. Cost vs Revenue

7. Pros and Cons Pros No inventory, no demurrage, no theft Relying on skill/knowledge rather than product Entrepreneurial and dynamic work environment No waiting period for product to arrive from overseas Cons Low barriers to entry so highly competitive industry Licenses and certifications take a long time Long sales cycle Must have skill – Marketing Experience and connections determines the pay rate

8. Top expenses

9. Conclusion

10. Any questions? Lakshay Gandhi 647-987-4025 [email protected] Subscribe to my YouTube channel – Real estate and Taxes with Lakshay

11. Marketing team is required for all 3 businesses Marketing team to manage Social media Schedule and post content consistently Edit videos SEO Blogs Manage google my business page