Dreaming of owning a restaurant? There’s no shortage of ways to bring your vision to life. However, one of the most important decisions to make is what type of restaurant you’d like to buy or open.
In this blog, we’ll look at the different types of restaurants you’ll find in Toronto to help you decide which business model may suit your vision best.
Why Start a Restaurant in Toronto?
You can open a restaurant anywhere. But what makes Toronto so special?
Toronto isn’t just a big city – it’s a world-class metropolis home to some of the best culture, entertainment, and amenities that you can find. Torontonians love their city and take great pride in celebrating and patronizing local businesses, especially restaurants.
For restaurateurs, the city’s scale and sense of community present plenty of opportunities. Currently, more than 7 million people call the Greater Toronto Area home, so no matter what type of restaurant you wish to open, you’ll have a large customer base to tap into.
In addition to locals, tourism also plays a vital role in the city’s restaurant landscape. Last year alone, we welcomed close to 30 million visitors. That’s a lot of people to feed.
Thinking about starting your own restaurant business? Explore these related blogs for more advice!
- What Permits Are Needed to Open a Restaurant in Ontario?
- Ready to Open Your First Restaurant? Here’s Where to Start
- Ways to Reduce Operating Costs as a Restaurant Owner
Types of Restaurants in Toronto
Without further ado, let’s take a look at the types of restaurants you’ll find in Toronto. While there are some grey areas, most businesses will fall into one of these categories.
1 Quick Service Restaurants (QSR)
The term quick service restaurant or QSR is really just a fancier way to describe a fast food joint. These types of restaurants don’t need much of an introduction. They’re located all around Toronto and aim to provide fast, affordable meals to customers who are on the go. Some have dining rooms and/or drive-thrus, while others are take out only.
Most quick service restaurants in Toronto are big brand franchises. However, there are a few locally owned independent restaurants as well.
2 Fast Causal Dining
Fast casual dining restaurants are a step up from QSR, but don’t cross the line into full service. They provide higher quality food (usually at a higher price point) and often encourage customization as part of their menu. Like QSR, most fast casual restaurants in Toronto are franchises.
3 Casual & Fine Dining
When most people think of a sit-down restaurant, they’re thinking of casual dining. These establishments typically seat customers at designated tables, provide menus, and have dedicated staff to take and serve orders. Casual dining restaurants can be independent, but there are plenty of popular franchises too.
Fine dining restaurants follow a similar model, but elevate it significantly. Not only is the cuisine of a higher value, but these establishments also emphasize the smallest details of the entire dining experience. As a world-class metropolis, it’s not a surprise that Toronto features some truly remarkable fine dining. In fact, more than a dozen Toronto restaurants have received a coveted MICHELIN Star since the famous MICHELIN guide first arrived in the city.
4 Microbreweries & Brewpubs
Craft breweries have exploded in popularity over the past decade. And while the phenomenon isn’t unique to Toronto, the city has embraced its local brewers with open arms. To that end, some of Toronto’s most popular breweries also serve food – these are known as “brewpubs”.
If you’re thinking about brewing (and selling) your own beer or cider, you’ll need the appropriate permits – not to mention equipment. Brewpubs can come with a lot of red tape, but if you’re passionate about craft brewing, it could be the right venture for you.
Interested in buying an existing business? Check out these related blog posts next.
- Can You Buy a Restaurant as an Investor?
- Should You Buy a Franchise in Ontario?
- Should You Use a Residential Agent to Buy an Eatery?
5 Ghost Kitchens
Ghost kitchens are relatively new to the Toronto restaurant scene, but their rise has been somewhat meteoric. A ghost kitchen is a private commercial kitchen dedicated to the preparation of food explicitly for delivery or takeout. There are no dining rooms or public storefronts. Instead, they leverage online platforms and third-party delivery services to cater to and serve customers.
Unlike traditional restaurants or franchises, ghost kitchens often don’t have formal public-facing brands. Rather, they operate under a list of micro brands (usually connected to a certain type of cuisine) in order to attract customers across delivery platforms.
Realize Your Restaurant Dreams
If you’re looking to open a restaurant in Toronto, you’ll want a professional expert in your corner. That’s where we come in – Carve Real Estate. As professional specialists, we know the unique ins and outs of commercial real estate and Canada’s restaurant industry. Not only can we help you find the perfect spot to bring your dreams to fruition, but we’ll also serve as your long-term advisor on all things restaurant-related, including financing.
Ready to bring your goals to life? Carve Real Estate can help! Reach us at ryan@carverealestate.com or call 416-618-0054.
