Ontario, Canada’s largest province by population is home to a wide range of towns and cities that not only make a great place to live but also bring your business goals to life – especially if you’re looking to open a restaurant.
From both a cultural and business perspective, there are a few fantastic markets in Southern Ontario that the sprawling Greater Toronto Area overshadows. One of these places is London, Ontario, a quickly rising city with a high quality of life.
Whether you’re opening your first place, or are looking to expand your business, London is overflowing with opportunities.
As leaders in Ontario restaurant real estate, we’re uniquely familiar with markets all across the province. Passing this knowledge on to you, here are our best reasons why you should consider opening a restaurant in London, Ontario.
Curious about some of Ontario’s other markets that are well-suited to food and beverage businesses? Check out these blog posts!
- 5 Central Ontario Towns to Open Your Next Restaurant
- 4 Reasons to Open Your Restaurant in Ontario’s Tri-City Area
- Launch Your Restaurant in Markham, Ontario
Small(ish) City, Big Nightlife
One of the biggest misconceptions about London is that it’s a small town. In reality, the city and surrounding area is home to just over half a million people – making it the fifth largest city in Ontario. While not as massive as Toronto, it has enough of a city vibe to support a thriving culinary scene.
Not to mention, London is home to Western University, one of Canada’s largest (and best-known) universities. As a result, the city has a strong student population who love to dine out, visit entertainment venues, explore local businesses, and more. Whatever kind of restaurant you would like to open, you’ll have a healthy pool of potential customers to reach!
It’s Growing
On that note, London is on the up and up. As one of the fastest-growing cities in the province (if not all of Canada), the local economy is becoming stronger and stronger. Of course, a larger city population means more potential customers, and in turn, more opportunities for success.
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
- Jump Start Your Canadian Entrepreneurial Career By Buying a Franchise
- How Long Does it Take to Build a Business From the Ground Up?
You’ll Stand Out From the Crowd
Despite its fast growth, London is still significantly smaller than Toronto and even Ottawa. In these big cities, there are hundreds of existing restaurants each with its own identity and existing customer base.
With that in mind, getting started and making a name for yourself in these major centres can be somewhat challenging. In London, however, you’ll have a lot more room to establish your niche and stand out from the crowd.
It’s Budget Friendly
Finally, another great reason to open your restaurant in London is that it’s more affordable. Speaking generally, commercial real estate in a big city comes at big city prices. Whether you’re leasing a space or buying one, you’ll be paying a premium on real estate costs – which will have a major impact on your overall business plan and long-term success.
London on the other hand has a great selection of spacious, high-quality commercial real estate listings that will work for all kinds of restaurants like cafes, eateries, bars, and anything in between.
This dynamic doesn’t only mean lower costs for you, but it can also make it easier to attract and retain staff. Unlike major markets like Toronto, where high costs of commercial real estate and operation are paired with famously high costs of living, everyday expenses are far more reasonable in London. With less financial strain facing workers, the risk of turnover among staff members is greatly reduced.
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.
