Canadians are drinking at restaurants and at home more than ever before, which means the traditional neighbourhood pub could be a thing of the past. However, there are still many ways for budding publicans to carve out a successful business in the pub industry.
In Canada, as elsewhere in the Western world, coffee remains a vital part of the daily routine for many. Thus, Canadian Coffee Shops are expected to continue to be a regular feature of the consumer experience for the foreseeable future.
Despite some adverse criticism of the process, there appears to be a continuing demand for tanning. Though a market where there is controversy demands caution and careful research, it can also present opportunities for those prepared to set up a responsible business which demonstrably puts the interests of consumers to the fore.
Declining alcohol consumption and heightened regulation has affected the nightclub industry, but diversifying to attract new customers may be the way forward. With wine bars, specialty cocktail lounges, martini bars or artisanal beer bars, club owners may attract a new demographic to bolster their profits.
The Canadian hotel industry is well diversified with a range of accommodation models. There are mid-range facilities to suit business travellers wanting clean, affordable rooms with digital connectivity, as well as luxury establishments for visitors expecting top-dollar rooms plus fine-dining and spa/fitness options.
Canada’s garden centres are to some extent limited by the colder climate and shorter growing season of their region. However, in many instances this has proved a useful incentive to demonstrate how the traditional garden centre model can be extended and diversified.
The restaurant industry is gradually improving year on year with a slow but consistent growth, and it may prove more profitable for owners to specialize or at least find some way of setting themselves apart from the competition.
Bookstores in Canada continue to fight against a consumer sway towards ordering books online for a cheaper price, as well as favoring e-books and electronic readers. However, there is some confidence in the balance tipping back in favor of hardback and paperback books.
As income increases and the population grows, the revenues of liquor stores are expected to increase. Revenues for Canadian liquor stores are $24 billion a year, with an annual growth of 3.1% between 2012 and 2017.
Hoteliers operate in an extremely competitive industry; if you’re not competing with market leaders such as Hilton or Marriott, then you could well be in opposition with a well-priced Airbnb host down the street.
Florists are recession-resilient and offer steady demand all-year round with spikes around Mother’s Day and Valentine’s Day. It suits creative types but experience and qualifications are arguably a must.
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