Not only is Central Ontario an amazing place to call home, but it’s also a great place to open a restaurant. During the COVID-19 pandemic, many smaller cities around the province saw a new wave of young Ontarians and their families moving in. As a result, many of these lower-population centres have become exciting hubs for culture and nightlife.
Today, a growing number of entrepreneurs are looking for new places to open up a restaurant outside of Toronto, and Central Ontario is bursting with opportunity.
Here are our top 5 Central Ontario spots to open your next eatery.
Peterborough
Located roughly 90 minutes from Toronto, Peterborough is one of the province’s cultural highlights. Known for its naturally beautiful landscape and appreciation for the arts, the city is a quaint yet exciting place to live.
Aside from a strong local food and drink scene, Peterborough welcomes tourists by the thousands every year. And, as part of the beautiful Kawarthas region, the city and surrounding area see an additional 30,000 residents in the summer months. These seasonal trends make it a great place to open your restaurant from a business perspective.
In short, Peterborough is perfect for restaurateurs who are seeking a balance between urban energy and lake country ambience.
Dreaming of opening a restaurant in Cottage Country? Read this first.
Belleville
Quiet yet amenity-rich, Belleville has historically been one of the province’s best-kept secrets for home buyers and entrepreneurs alike. That being said, people are starting to take notice of the city’s incredible landscape and cultural highlights.
Located roughly two hours from Toronto, Belleville sits along the Bay of Quinte and is known for catering to residents who enjoy outdoor amenities and natural scenery. It’s safe to say that Belleville will soon be one of Ontario’s “it” cities. Starting your restaurant here sooner rather than later can help you take advantage of low prices.
What to learn more about the restaurant industry? Check out these resources.
- How the Restaurant Industry is Changing in 2022
- Why You Should Sell Your Restaurant With a Business Broker
- Buying a Restaurant? Here Are 5 Questions to Ask
Barrie
Located just north of Toronto on the shore of Lake Simcoe, Barrie is a charming and historic city full of opportunity. With a population of around 160,000, the city’s small-town atmosphere combined with its easy access to Toronto has led to rapid growth in the past decade.
Barrie’s diverse demographics mean you’ll be able to cater to a variety of locals, from passionate foodies to young families looking for a new favourite spot. Although costs are rising in Barrie, it’s a great place to enjoy the energy of a growing city.
Orillia
Located in the heart of Ontario’s lake country, Orillia is an opportunistic and scenic city. With a population just shy of 35,000, Orillia offers a more laid-back lifestyle compared to nearby Barrie. That being said, the summer months in Orillia do see cottage-dwellers and tourists offering an economic boost to local businesses.
As the city strives to build its economic profile, opening a restaurant in Orillia allows you to take advantage of local programs for small businesses. If you’re looking for affordability and a great quality of life outside of work, Orillia is perfect for you.
Looking to open your dream restaurant? Check out these helpful resources from our blog.
- The Essential Restaurant Start-up Checklist
- 5 Must-read Books For Aspiring Restaurateurs
- What to Look For When Choosing a Restaurant Space
Cobourg
With a population just shy of 20,000, Cobourg is ideal for restauranteurs seeking an authentic small-town environment. Nestled along the shore of Lake Ontario, the town is known for its laid-back atmosphere and unique cultural attractions.
Affectionately nicknamed, “Ontario’s feel good town” Cobourg certainly lives up to its accolades. Along with the expected lakeside amenities, Cobourg offers a vibrant arts scene popular with both tourists and locals. Like other areas on this list, local businesses in Cobourg welcome an influx of visitors during the summer months.
Working with a Commercial Agent
Regardless of where you choose to open your restaurant, working with a real estate agent who specializes in the service industry is the best way to make it a success. Not only can they help you navigate the often complex buying or leasing process, but they can also connect you with industry professionals who can support you at every step of your business journey.
When you’re ready to open a restaurant, get in touch with us. We can help you find the perfect space.
