Markham, Ontario, is a vibrant community located just north of Toronto. With its rich cultural heritage, booming population, and growing appetite for diverse culinary experiences, Markham offers an ideal environment for entrepreneurs looking to open a restaurant.
In this blog post, we’re serving up five reasons why you should consider opening a restaurant in Markham. Let’s dive in.
Always wanted to open your own restaurant? We’ve got plenty of fresh resources to help make your dream a reality. Start with our Ultimate Guide to Buying a Restaurant.
Lower Costs
One of the most significant advantages of opening a restaurant in Markham is affordability – especially when compared to neighbouring Toronto.
In Toronto, the demand for real estate (both residential and commercial) ranks among the highest in the world. These elevated costs add a significant barrier to entry for many restaurateurs. Markham on the other hand, can be much more affordable by comparison.
From start-up costs like buying or leasing real estate to operating expenses, taxes, and more, Markham offers a more cost-effective business environment. Plus, Markham has a skilled and dynamic workforce, with residents drawn from various backgrounds. As a result, sourcing labour can be more cost-effective here compared to Toronto as well.
Reduced Competition
While Toronto is known as a culinary hub with a wide range of dining options, it also comes with intense competition. Markham, on the other hand, provides a less saturated market. When it comes to attracting customers, this lesser degree of competition makes it much easier for you to get your business up and running.
On top of building out your customer base, Markham’s open business atmosphere also makes it easier to find labour. While labour shortages continue to be a challenge across the industry, Markham’s less competitive atmosphere can give you a leg up on finding and hiring qualified staff such as chefs, waitstaff, and kitchen personnel.
Hoping to open a restaurant outside of central Toronto? Check out these other blog posts.
- 7 Reasons to Open a Restaurant in Ottawa
- 5 Central Ontario Towns to Open Your Next Restaurant
- Opening an Eatery in Cottage Country? Read This First
It’s Growing
Home to more than 360,000 residents (and counting) Markham is far from a small town. As an entrepreneur, you’ll have no shortage of customers to cater to. Alongside a healthy population of consumers, the city’s diversity offers a rich tapestry of tastes and preferences to cater to, making it an ideal setting for your restaurant’s success.
Further, thanks to Markham’s thriving economy and a continuous influx of businesses – including a quickly expanding tech scene, your restaurant can tap into the lunch, dinner, and catering needs of the local workforce.
The Local Flavour
Markham prides itself on being a community-focused city. It offers a high quality of life, excellent public services, and a commitment to fostering a sense of belonging among its residents. As a restaurant owner in Markham, you’ll have the opportunity to become an integral part of this community.
Local residents often seek out dining establishments that support and engage with the community. Hosting events, sponsoring local sports teams, or participating in charity initiatives can help build strong connections with your customers and create a loyal following. By becoming a beloved part of Markham’s community, your restaurant can thrive and grow in this supportive environment.
Thinking about starting your own restaurant from the ground up? Check out these blog posts to discover how you can make your dream a reality.
- What to Look For When Choosing a Restaurant Space
- The Essential Restaurant Start-up Checklist
- Jump Start Your Canadian Entrepreneurial Career By Buying a Franchise
Franchise Opportunities
Another reason to love Markham is that there are a number of opportunities for entrepreneurs interested in the franchise model. Buying a franchise restaurant comes with a lot of unique benefits. If you’re thinking about taking that route, Markham is a great place to do it.
Like a number of other markets in the Greater Toronto Area, residents seek out familiar brands. Whether you’re looking for a popular fast-casual restaurant or something on the higher end, you’ll be able to attract a strong, loyal customer base.
As a city with an established business ecosystem and network, you’ll find unique resources and opportunities to help you navigate the franchising process – making it easier to get your restaurant up and running.
As seasoned experts in Canadian restaurant real estate, we’re here to help you exceed your entrepreneurial goals. Send us an email or give us a ring at 416-618-0054 to get started.
