Is opening a restaurant your dream? Are you finally ready to take the plunge? If so, choosing the right location will be one of the biggest decisions you have to make. While some aspiring restauranteurs in this part of the province are hyper-focused on Toronto, there are benefits to choosing smaller (but still vibrant) markets like Kitchener, Waterloo, or Cambridge. Opting for one of these three urban centres, known collectively as Ontario’s tri-city area, can come with advantages.
Here are five reasons to consider opening a restaurant in Kitchener, Waterloo, or Cambridge…
1) Attractive Rents
Toronto is notorious for its high rents, and not just when it comes to residential spaces. Unfortunately, having to pay an exorbitant monthly sum can sink many new businesses. That’s why it’s so important to assess your financial situation—and the funds you’ll realistically need to ensure you can operate comfortably in the years ahead.
The good news is, there are many thriving cities not far from Toronto where your rent dollars will go further. Kitchener, Waterloo, and Cambridge are some prime examples. While prices are creeping up in these increasingly hot markets, they’re still a far cry from what you’ll see in Canada’s biggest city.
2) The Community Spirit
There’s no doubt that many Torontonians are proud of their hometown. That said, in a city of nearly three million people (close to six for the GTA overall), it’s hard to find the same sense of community that abounds in places like Kitchener, Waterloo, or Cambridge.
In some cases, operating in a city that has a small-town feel could help you stay afloat when times are tough. It’s all about loyalty. During the ongoing pandemic, many restaurants are adapting—whether that means offering take-out, or converting to a slightly different business model (by selling grocery items, for example)
When your patrons don’t live in a massive city (nor do they have access to the options that go along with that), they may be more likely to go out of their way to support you during this time.
3) A High Quality of Life
For some people, Toronto is the centre of the universe. While there’s no denying that Canada’s largest city is an incredible place to live, there are some pretty big perks associated with smaller places—especially Kitchener, waterloo, and Cambridge.
Whichever city you choose, your dollars will go further here than they would in Toronto, whether you decide to rent or buy a home. You’ll enjoy fresh air, pretty green spaces, and a strong sense of community. There’s also no shortage of things to do in the area—from the Cambridge Butterfly Conservatory to Chicopee Ski Club to the St. Jacobs Farmers & Flea Market.
4) The Opportunity
Last but not least, opening an eatery in Kitchener, Waterloo, or Cambridge allows you to be part of small (yet lively) food scene. There’s a sense of community in that. There’s also an opportunity to enjoy the support of locals who are truly devoted to their favourite restaurants.
Additionally, you’ll love trying out some of the most exciting hidden gems in the region for yourself. In Waterloo-Kitchener, you can enjoy sticky rice at the Wooden Boat Food Company or creative tapas at Public Kitchen and Bar. In Cambridge, you’ll want to devour a perfectly-prepared steak at the historic Cambridge Mill (minus the round-the-block lineups you might find in Toronto).
READY TO FIND YOUR IDEAL RESTAURANT SPACE—AND START CARVING OUT YOUR NICHE IN THE TORONTO FOOD SCENE? REACH OUT TO LEARN HOW I CAN HELP YOU MAKE THE SMARTEST PURCHASE POSSIBLE!
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