Opening a Restaurant in the Financial District
Are you thinking seriously about opening a restaurant in Toronto? One of the earliest steps towards making your dream a reality is choosing a location. Your decision could make or break your new venture, which is why it’s so important to pick the right neighbourhood. While it may not be the first place that comes to mind when you’re thinking of the city’s culinary hubs, the Financial District should be near the top of your list of options.
Here are five reasons you should consider opening your restaurant in Toronto’s Financial District…
1) The foot traffic
The population of the Financial District swells to hundreds of thousands of people during the day. The vast majority of those walking around are professionals who work in the area—and come midday, they’re bound to be hungry. Whether they’re looking for a quick bite from a deli counter or a working lunch at a buzz-worthy bistro, visibility will play a key role in where they decide to eat.
To take advantage of the Financial District’s dense foot traffic, make sure your restaurant is as visually appealing as possible. It never hurts to have an exterior that looks great on Instagram!
2) The clientele
Once you know who’s walking by your restaurant (and their motivations), it becomes much easier to market effectively. In the Financial District, your most likely customer will be an affluent, relatively young professional who enjoys the fruits of their labours.
We’re talking about patrons who like the finer things in life. They’re more likely to appreciate the small culinary touches that go into a dish—and they won’t balk at what it costs to get a truly inspired meal. That’s good news for restauranteurs who want to take pride in what they serve (and charge sustainable prices, too).
3) The food scene
What do you think of when you imagine dining out in the Financial District? Is it a dimly-lit space, some steaks, and a few martinis? While there’s nothing wrong with that picture, it’s not a full reflection of the wealth of options available in the area.
The restaurant scene in the Financial District is evolving—and becoming more innovative. Diners are always on the lookout for new flavours and atmospheres. If you can pique their interest and dazzle them with something different, you might just turn them into repeat customers.
4) The location
The Financial District sits at the centre of it all. It’s close to some of the city’s other lively downtown neighbourhoods, and more than a few major attractions. With both the Rogers Centre and Scotiabank Arena just a short walk away, sports fans regularly stream into the area for a bite.
Perhaps even more importantly, the Financial District borders St. Lawrence Market. We’re talking about an area that attracts food lovers from across the city and beyond. They’re all in the neighbourhood to eat—and as they’re exploring on foot, some of them will cross over into your territory.
5) The transit
One of the best things about the Financial District is how easily accessible it is by transit. King, St. Andrew, and Union Stations (all on the Yonge-University subway line) are situated in the area. The latter is a major transportation hub.
A whopping 300,000 commuters move through Union Station every day. That’s good for local restauranteurs for two reasons. Of course, those who exit the station on foot represent diners who could potentially discover your restaurant. But it also means that those who want to check out what you’re serving up can do so without a car.
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!