People with the insatiable love of food are often attracted to the prospects of opening their own restaurants. And in the progressive, modern, and culturally diverse City of Toronto, food businesses are truly a big thing.
The Exciting Local Food Scene
The Ontario Ministry of Agriculture, Food, and Rural Affairs (OMAF) reported in 2015 that food sales reached up to $41 billion from shops like groceries and liquor stores. Impressive sales of over $24 billion were from food services establishments like restaurants and caterers. In the bustling city of Toronto, some neighbourhoods have developed their own distinct flavours, making them the go-to places for foodies with an appetite for adventure.
Leslieville on the southeast end of the city is home to artisanal coffee shops and corporate cafes. Plus, this area is known for the hottest brunch spots and the hippest pubs and wine bars. For city dwellers and tourists who enjoy specially-brewed beers, the best new spots for fun and drinks can be found at the Junction, just north of High Park. In the heart of the city is Little Italy, which has grown more diverse than ever, offering various European fares and enticing Asian delicacies.
Finding the Right Restaurant to Buy
With all these thrilling food choices currently available in Toronto, it’s not hard to expect that even more restaurants will sprout. Checking out online listings for restaurants for sale can be a smart first step for business-minded food lovers. Searches can be refined by location, cuisine, and price range.
Support for Restaurant Sellers
Business owners who choose to put up their Toronto restaurants for sale can also benefit from online listings. These directories can help them increase their visibility, and connect them more effectively with buyers who want to give the restaurant scene a shot.
The Vital Role of the Restaurant Broker
Getting into the restaurant business is not as simple as it seems. First, choosing and finding the perfect location from various areas of Toronto can be a challenge. Furthermore, understanding the food competition entails a lot of research.
This is why a business broker or a restaurant broker should be consulted. He can provide the best tips for entrepreneurs on what restaurants and food services are in demand in the city, and he can also give advice on how they can make their own business ideas a reality.
The Best Food and Drink Neighbourhoods in Toronto, Thrillist.com
Business Broker, Entrepreneur.com
Food Industry Statistics, OMAF.gov.on.ca