Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.
In a LinkedIn post, Paul Burns, CEO of SkipTheDishes, announced the company is letting go 100 of its Canadian market employees as well as 700 operations employees servicing the global Just Eat Takeaway.com organization based out of Canada.
Here’s the full post:
Executives most often use LinkedIn to share good news stories about their companies. Today, I’m sharing some difficult news: Following a comprehensive review, we are restructuring our business and reducing the size of our workforce. This move affects approximately 100 Canadian market employees, along with 700 operations employees servicing the global Just Eat Takeaway.com organization based out of Canada.
For a brand and business built around community and belonging, having to say goodbye to valued team members lays heavy. In the spirit of transparency and respect, I’d like to share more on why this decision was made.
Decisions that impact people’s jobs are never simple or easy, however the measures we took are necessary to ensure we have the right resources and organizational structure in place to drive sustainable growth. A more focused approach will also ensure we continue to provide an enhanced offering to customers and exceptional service to all our stakeholders.
I want to recognize the human impact of these business decisions. We have hard-working, talented people leaving Skip. These decisions were not made based on the quality of their work or the contributions they have made to our business, brand, and culture, but on how closely roles map to our future vision.
To those of you leaving Skip, I want to express my heartfelt gratitude to each of you for everything you’ve poured into this business. Thank you for sharing your talents with us – talents I have no doubt other companies will see tremendous value in. Whether you’ve been part of our journey from the start or recently joined our team, your contributions have mattered – to me, your colleagues, and to the business.
“Joining the Burlington South community is a significant step for us, and we look forward to bringing our fresh-market experience to this vibrant area. Our commitment remains to deliver fresh, high-quality products at excellent value, and unparalleled customer service, while fostering a strong connection with our new neighbours.”
The new store is located at 3230 Fairview Street. It features Farm Boy’s signature offerings, including a vibrant assortment of fresh produce, quality Canadian meats, local dairy, and a wide variety of popular Farm Boy exclusive private-label products. Complementing these offerings will be a selection of gluten-free, plant-based, vegan, and vegetarian options, catering to diverse dietary preferences.
Farm Boy in Burlington Ontario
Highlights of what awaits Burlington South residents at Farm Boy:
Abundant high-quality farm-fresh produce, including local and organic products.
Hundreds of Ontario-sourced, fresh dairy, meat, and grocery products.
Hormone-free, organic beef, chicken, and pork.
Premium-quality, 100 per cent Canadian beef, pork, and chicken.
Hot bar and salad bar selections with a wide variety of quality grab-and-go items, catering to diverse tastes and busy schedules.
A curated collection of exclusive Farm Boy private-label products.
A diverse selection of local, international, and Canadian cheese.
Sustainable shopping options, including reusable bags.
Farm Boy has grown from a small produce stand starting in Cornwall in 1981 to 50 stores located across Ontario with further expansion plans underway.
The late Saul Korman in front of his store. Photo: Korry's
By Everly R Price
In the vibrant heart of Toronto’s Greektown, where cultures and traditions weave together, is 569 Danforth Ave—a beacon of high-quality menswear.
For decades, this iconic address has been more than just a location; it’s a symbol of mens style and community.
The story begins with “Korry’s Clothiers and Gentlemen”, a name that became synonymous with exceptional men’s fashion and personalized service.
Today, Carpe Diem Men continues the legacy, embracing the spirit of innovation and excellence that defines this iconic Toronto location.
And if you were ever curious to learn more about Korry’s story, then you are in the right place because Angelica Lianko, who now leads Carpe Diem Men, was Saul’s right-hand woman for over 14 years.
Let’s revisit the rich history and evolution of this legendary site, and see how Carpe Diem Men is writing the next chapter in the tradition of outstanding men’s designer wear and personalized styling services.
The Rise of Korry’s Clothiers
Korry’s was founded by Nathan and Saul Korman in the 1950s at the bustling corner of Danforth and Coxwell, before moving to the legendary 569 Danforth Ave. Saul Korman, affectionately known as the “Duke of the Danforth,” was the magnetic personality behind the store’s soaring popularity.
Saul’s engaging personality was a key factor in the store’s success. His radio commercials were a spectacle in themselves: he would use a stopwatch, talking about anything and everything under the sun—except the store, and in the last moments, he would enthusiastically pivot to remind listeners of the sales and the iconic Toronto address, 569 Danforth Ave.
“…And if you ever went into Temptation–and this is a great story–and order a martini, my wife yells, ‘Stop pouring it, stop pouring it! It’s too big!’ You have one martini, your teeth chatter. So as soon as I have the martini, Myrna drives the car back, back to the Maho Resort anyway. But in the meantime, wonderful food! […]. And you know what else? Beer–75 cents! And you walk with it. Hey, where else are you gonna get that? And great weather–I wear a tank top. But meantime–Last Call Sale at Korry’s! Everything’s been dropped more! Up to 75%! At five-six-nine Danforth Avenue.”
– Saul Korman
Saul’s unpredictable story-telling and energy drew listeners and etched the store’s address into the very fabric of the city’s cultural memory. Combined with Saul’s dedication to personalized service, this approach fostered a devoted clientele that stood the test of time.
Community Involvement and Legacy
Saul Korman was far more than a businessman, he was the heart and soul of the Danforth.
His contributions to the community were widely recognized, earning him accolades from the Retailers of Canada, the radio broadcasting industry, and even the Queen’s Golden Jubilee Medal. Mayor John Tory described Korman as the ambassador, the salesperson, the inspiration that helped make the whole of the Danforth what it is today: a destination.
Saul Korman once reflected on his decision to stay on the Danforth:
“Everybody told me to move. Bay and Queen was the place to be then for better men’s stores. But I believed in the Danforth and wanted to stick it out”.
-Saul Korman
The store’s closing may have signaled the end of an era, but Saul Korman’s influence continues to resonate in the community he helped shape.
Transition to Carpe Diem Men
With the closure of Korry’s, the iconic address at 569 Danforth Ave found a new steward in Carpe Diem Men.
This men’s designer clothing store in Toronto continues the tradition of offering high-quality menswear while catering to a discerning clientele of business owners and top executives in Toronto and the Greater Toronto Area (GTA).
Meet Angelica and Eddie
Carpe Diem Men is co-owned by Eddie Gabel and Angelica Lianko, both of whom bring a wealth of experience and passion for menswear to the store.
Angelica Lianko, previously Saul Korman’s Executive Assistant for 14 years, now leads Carpe Diem Men with the same dedication and insight she acquired under Saul’s mentorship.
Her role at Korry’s was central to its operations, serving as Saul’s right hand and handling major projects with precision and commitment that earned his trust and confidence.
Angelica’s transition to co-owning Carpe Diem Men has been a natural progression, deeply influenced by Saul’s legacy. She has instilled the same “Hug Your Customers” philosophy at Carpe Diem Men, focusing on personalized service and exceeding customer expectations.
“There’s a book called “Hug You Customers” that Saul Korman swore by and said it to his staff everyday. We understood and knew the importance of it then. But as an owner, you realize that this is what the whole operation is all about. So just like Saul Korman as the owner swore by “Hug Your Customers” during his 70 year run, Carpe Diem Men’s everyday efforts are built around the same “Hug Your Customers” belief.”
-Angelica Lianko
Eddie Gabel complements Angelica’s expertise with his extensive background as a Wardrobe Consultant and Senior Buyer at esteemed retailers such as Korry’s Clothiers, Hugo Boss, Harry Rosen, and Holt Renfrew.
At Korry’s, Eddie was instrumental in driving significant sales and crafting an exceptional customer experience, earning him a position as one of the top salesmen at the store. His ability to remember personal details and engage clients with a genuine and humorous approach mirrors Saul’s own engaging style. Eddie’s skillful curation of fashion collections and his knack for remembering customer preferences continue to shape the store’s success.
Together, Angelica and Eddie have merged their unique strengths—Angelica’s operational acumen and Eddie’s personable approach—to ensure that Carpe Diem Men not only honors the rich legacy of Korry’s but also embraces a new era of men’s fashion.
With clients ranging from marketing professionals and investment bankers, to doctors and corporate lawyers in Toronto, Eddie and Angelica always make sure they are dressed their best.
Master Tailor Muna
A continued example of Carpe Diem Men’s commitment to quality is its in-house Master Tailor, Muna. Muna has spent over a decade with Korry’s Clothiers to Gentlemen and has been an integral part of Carpe Diem Men since its inception.
He began honing his exceptional tailoring skills at the age of 13, under the guidance of his uncle, who was also a Master Tailor.
At Carpe Diem Men, customers have the opportunity to watch Muna in action and appreciate the art of personalized tailoring. His exceptional skills in garment fitting and alterations ensure that every piece of clothing is tailored to perfection.
The New 569 Danforth Ave
The address 569 Danforth Ave epitomizes a legacy of unparalleled quality, community, and tradition.
From the golden days when Saul Korman’s memorable radio commercials established it as a hallmark of style, to today where Carpe Diem Men carries on this esteemed legacy, 569 Danforth Ave remains the quintessential destination for high-end men’s fashion in Greektown on The Danforth, and all of Toronto.
Angelica Lianko and Eddie Gabel continue to carry forward the values that defined Korry’s Clothiers – the importance of customer trust and consistently honoring promises.
At Carpe Diem Men, they focus on understanding and meeting each customer’s unique needs, ensuring a personalized service where the business adapts to the clients, not the other way around.
“I learned from Saul that when you’re confident you get more done, but only if you’re true to yourself. Don’t wear anything that doesn’t suit your personal taste – don’t do anything you don’t firmly believe in! Saul Korman always spoke his mind and he wore dress shirts with contrasting white collar and cuffs everyday at work! It was his style, he believed in it, it didn’t matter if it was out of style for a bit. He felt he looked good in it – he actually looked good in it. And guess what, its back in style again!”
-Angelica Lianko
Their experience at Korry’s has also shaped their approach to fashion, blending timeless pieces with a touch of fun to maximize the value of every clothing article.
Carpe Diem Men champions the idea of authenticity by encouraging individuals to remain true to themselves and embrace their unique tastes, drawing inspiration from Korman’s distinctive style and confidence. This commitment to genuine self-expression and personal style is at the heart of the experience that Carpe Diem Men offers today.
As retail marketers, we’re constantly juggling the latest trends, emerging technologies, and shifting consumer expectations. It can feel overwhelming, especially with the holiday season just around the corner. That’s why I’m really looking forward to Retail Council of Canada’s (RCC) Retail Marketing Conference on September 12, 2024, in downtown Toronto. It’s one of those rare chances to step back, recharge, and get inspired alongside others who get what it’s like to be in the trenches with you.
What’s in It for Us
Let’s be honest — conferences can sometimes feel like just another thing on our already packed schedules. But this one? It’s different. It’s not just about sitting through sessions; it’s about sparking new ideas and finding real, actionable insights that we can take back to our teams. Plus, it’s a chance to connect with other marketers who are facing the same challenges and opportunities. There’s something incredibly valuable about those hallway conversations and the moments when you realize you’re not alone in trying to figure all of this out.
Here are some sessions I’m particularly excited about this year:
Harnessing AI: The Future of Personalized Marketing and Creativity: Neil Patel from NP Digital is diving into how AI is not just a buzzword but a real tool we can use to make our campaigns smarter and more personalized. I’m eager to see how we can apply this in a way that’s both creative and effective.
Understanding How Gen Z Will Shape, Influence, and Impact the Future of Retail: Nikolas Lopez at Leger will be sharing insights into Gen Z, and let’s face it—they’re not just a new generation; they’re a whole new mindset. And if Gen Z is shaking things up, what’s next with Gen Alpha?
Mastering Brand Identity in a Value, and Values-Based, Retail Environment: With Amar Singh from Kantar and Ivano Pirro from Bell Virgin Plus & Best Buy Express, I’m looking forward to digging into how we can keep our brands relevant in a world where consumers care as much about values as they do about value.
Crafting Compelling Campaigns for Canada’s Multicultural Market: Bobby Sahni from Ethnicity Matters will be tackling how we can create campaigns that truly resonate across Canada’s diverse communities.
The Future of Physical Retail with Doug Stephens: Finally, Doug Stephens, the Retail Prophet, will help us rethink our physical spaces. How do we make our stores more than just places to shop but destinations that people actually want to visit?
Let’s Meet There
So, if you’re like me and could use some fresh ideas and a bit of a reset before the holiday rush, I think you’ll find a lot of value at this year’s RCC Retail Marketing Conference. It’s not just about what we learn in the sessions; it’s about the connections we make and the conversations we have. Hope to see you there.
For over 25 years, I’ve been passionate about pushing the boundaries of eCommerce in Canada, always looking for innovative ways to create seamless Omni-channel experiences. My journey has been about finding that sweet spot where digital and physical retail meet, and I’m excited to keep exploring what’s next.
*
*
Partner content. To work with Retail Insider, email Craig Patterson at craig@retail-insider.com
Uniqlo Signage at CF Chinook Centre (Image: Mario Toneguzzi)
Market conditions continue to push Canadian retail rental rates up across the board and no single format type is being left behind amid insatiable demand and a race for space, according to a report by real estate firm CBRE.
The marketplace is in a supply-deprived environment, with new construction activity at historically low levels in several cities, according to CBRE’s H1 2024 Retail Rent Survey, a snapshot of retail trends and rents for 11 Canadian markets.
Molly Westbrook
“Retailers are being strategic, but are also having to move fast,” said CBRE Managing Director Molly Westbrook, who heads the National Retail Group. “If limited retail vacancy wasn’t motivating enough, higher rental rates are expected in the months ahead.”
The report said high construction costs in recent years coupled with high interest rates over the last few years have played a significant role in reducing supply, effectively shelving projects that were not already under construction. These costs are starting to show signs of stabilization, however, which could open the development pipeline once again. Until then and despite this, retailer demand remains high and has been supported by considerable population growth.
“Our Retail Rent Survey shows that luxury and other high-profile domestic brands are expanding cross-country and opening first-to-market flagships. The health and wellness sector has also been in demand, along with grocery, and discount. All have been in expansion mode over the last six months, with inflation in particular driving growth to discount retailers,” added the report.
Some key findings:
Retail rent appreciation continues, with 40 of the 120 areas included in this survey experiencing rent increases in H1, more than in any prior editions of this report. Only two reductions on benchmark rent prices were noted;
Cities with the greatest number of retail rental rate increases have shifted to the east, with Toronto and Ottawa each reporting rising rents across seven formats/key urban areas;
Power centres experienced escalating rents in seven of 11 markets, the most of any retail format. Cities with increases in this format saw ranges raise by an average of 10 per cent from year-end 2023;
Six markets saw retail rent increases across one or more key urban areas; and
Cost of construction continues to be a limiting factor across many markets, which will keep vacancy tight and rents elevated for the time to come.
The report outlines the most active retailers and growing segments for 2024:
Luxury & Apparel: First to market brands continue to push into top nodes while the major luxury houses of LVMH, Richemont and Kering continue to compete for space in a race for top position. It has been refreshing to see growth of contemporary, athleisure and fast fashion brands, including homegrown retailers Arc’teryx, Lululemon and Reigning Champ, which recently opened new flagships;
Grocery: A variety of grocery banners are thriving and expanding. Discount, including No Frills, FreshCo and Food Basics, are among the most active, along with ethnic stores. The competition for real estate and market share is ultimately driving up rents on larger boxes with no grocery restrictions. Grocers are evaluating their market strategy in urban and suburban locations prone to redevelopment;
Food & Beverage: Top line sales are increasing in this segment, however there are concerns over the cost of labour, goods and capital expenditures. Domestic restaurant brands and concepts are flourishing and account for much of the growth while QSR brands are migrating from the U.S. and testing Canadian waters, notably Shake Shack, which opened its first location in Toronto; and
Service/Medical: The sector has seen an explosion due to government funding for private MRI/CT facilities as well as international medical/pharma. Further growth is expected from the consolidation of providers, startups, and the privatization of medical services tied to hospital networks. Hearing, optical and plastic surgical suites have been active, with additional demand coming from nuclear medicine spaces, outpatient services for addiction, mental health and fertility boosted by government funding.
CBRE highlighted notable retail trends to watch for in markets across Canada:
In Toronto, quality retail space is in short supply and rents continue to appreciate. In response, tenants are starting to widen their search area to include nodes farther outside traditional core markets to sites with higher levels of intensification. There is a bifurcation of tenants at opposing ends of the value spectrum, with luxury and discount doing extremely well and rising above the vanishing middle segment;
Victoria’s downtown market continues to experience softening demand with long-standing retailers shutting down on Johnson Street and restaurants closing. This has provided an opportunistic market for Quick Service Restaurants (QSR), which are largely unaffected by foot traffic thanks to delivery services;
Record-setting migration into Alberta (202,000 people in 2023 alone) has driven demand in Calgary from retailers and service providers for suburban-style shopping centres in the city, but there is a scarcity of options for them. As such, rents have continued to increase;
Saskatoon’s retail is thriving, buoyed by robust potash, uranium, and agriculture industries. New jobs and population growth related to these industries is creating tailwinds for the retail sector across the province; and
New supply has been limited recently in Winnipeg, but retail developments under construction include Shindico’s Align Winnipeg, Private Pension Partners’ The Zu, and Whiteland’s Polaris Place. Qualico Properties began development on Sage Creek Village East.
The Consumer Price Index (CPI) rose 2.5% on a year-over-year basis in July, increasing at the slowest pace since March 2021 and down from a 2.7% gain in June 2024, according to a report released Tuesday by Statistics Canada.
“Deceleration in headline inflation was broad-based, stemming from lower prices for travel tours, passenger vehicles and electricity. On a monthly basis, the CPI rose 0.4 per cent in July, after falling 0.1 per cent in June. Gasoline prices increased month over month in July (+2.4 per cent), putting upward pressure on the monthly CPI figure. On a seasonally adjusted monthly basis, the CPI rose 0.3 per cent in July,” said the federal agency.
StatsCan said that year over year, gasoline prices rose at a faster pace in July (+1.9 per cent) compared with June (+0.4 per cent). Prices accelerated the most in the Prairie provinces, partially attributable to reduced supply amid a refinery shutdown in the Midwestern United States.
Year over year, prices for shelter rose at a slower rate in July (+5.7 per cent) compared with June (+6.2 per cent), with downward pressure coming from the electricity; mortgage interest cost; rent; and fuel oil and other fuels indexes, it said.
“Core measures of inflation were fairly subdued in July, with ex-food/energy prices up only 0.2 per cent on a seasonally adjusted basis (even with mortgage interest costs still advancing) and CPI-trim and CPI-median both advancing by a slight 0.1 per cent m/m. With inflationary pressures fading away but concerns about the weakening labour market growing, we continue to forecast three further 25 (basis point) cuts by the Bank of Canada at the remaining meetings this year.”
“This easing will contribute to swifter spending growth in turn. But it took time for monetary policy to reach consumers as rates went up and it will take time for its effects to ease after rates have come down,” said the report.
“In the near term, many of the adjustments that consumers have made to their spending habits will remain. Households are cutting back where they can, driving less to save on fuel costs, and forgoing costlier restaurant bills.
“Uncertainty over the timing of further interest rate cuts and the upward movement of the unemployment rate will compel many consumers to remain cautious. Consumer price growth will continue to ease in 2024 and 2025. The CPI (Consumer Price Index) will grow by 2.6 per cent in 2024 and 2.1 per cent in 2025. Inflation’s descent will be held up largely by strong price growth for rent and other shelter costs.”
The report said in the near term, gasoline price fluctuations will also play a role in keeping headline inflation higher than the Bank of Canada’s 2.0 per cent target mid-point.
The report said strong population growth will continue to lift overall spending.
“Strong disposable income growth in most provinces in 2024 will give way to an easing back of gains in 2025 as labour markets loosen off. As conditions normalize later through 2028, however, we are expecting to see strongest per capita income performance in British Columbia, Ontario and Manitoba, with annual growth rates of more than 2.5 per cent,” it said.
Key report findings:
• Back online from maintenance shutdowns last year, renewed offshore oil production will vault Newfoundland and Labrador’s real GDP growth to 1.8 per cent in 2024, fastest of the provinces.
• Nova Scotia is seeing a growth push this year, led by population gains, healthy export performance and strong public infrastructure spending.
• Alberta will once again exceed the national average growth rate in 2024, but the gap will narrow. Positive conditions for population and income growth will continue through the forecast period.
• The completion of a trio of major energy projects in British Columbia will cool investment flows this year, but relatively healthy labour markets help power the overall economy later in the forecast period.
• A reining back of immigration inflows will soften Ontario’s economic growth prospects, but ease housing pressures as well. Major public investments in the auto sector will have notable reverberations, but net economic gains are not assured.
• Easing population growth in Prince Edward Island and New Brunswick will depower those economies somewhat in 2024, and investment growth prospects through the next few years are not expected to fill the gap.
• As a prairie economy, Manitoba is benefiting from a balanced economic structure and it should recover well through 2024. Growth fundamentals for later years will be among the best in the country.
• Quebec has some positive investment prospects, but overall growth is held back by slow immigration gains and an aging population.
• Saskatchewan’s economy got off on the wrong foot in early 2024, dragging down the growth forecast for this year, but fundamentals in potash and uranium mining will help yield strong performance in later years.
Of those affected, 22% report these disruptions have had a major impact on their business, which equates to 266,953 SMEs across the country. When public construction projects extend beyond their established timelines, it prolongs the impact of these disruptions. On average, small firms endured 508 days of construction-related disruptions over the past five years, said the national organization.
Emily Boston
“Small businesses face a myriad of issues when local construction projects take place, from traffic congestion and dust and debris, to losing customers and navigating logistical disruptions,” said Emily Boston, Senior Policy Analyst at CFIB and report co-author. “Now, imagine dealing with it for over 500 days! Sadly, this is a reality for too many small businesses across Canada.
“We’re not asking governments to stop upgrading roads or repairing sewers. Public infrastructure projects are important, but when they drag on for years, it’s difficult for businesses to survive in the meantime. A large portion of construction costs can be avoided with better planning, execution, and by giving more consideration to the reality of local businesses.
“All too often it seems as though levels of government punt the responsibilities of construction projects back and forth. There needs to be a clear directive as to who is responsible for the construction mitigation of projects and what mitigation tools will be used. Improving how construction projects are handled would benefit local businesses, municipalities, provincial governments and citizens alike.”
The CFIB said small firms lost on average 22% of their revenues during the most significant construction project affecting them over the past five years and on top of that, spent around $10,000 in extra expenses such as cleaning and repairs.
“While each construction project is unique in its duration, scale and disruptiveness, the most common issues affecting 58% of businesses are traffic congestion, dust, debris, and noise. Customers and staff having trouble accessing their business or finding parking (49%), significant stress (23%) and lack of notice (33%) also impact small businesses in construction zones,” it said.
“Over two-thirds of businesses (68%) say they should be compensated by government when a public construction project has a major impact on their business operations. CFIB urges governments to support small businesses during periods of major construction by establishing comprehensive construction mitigation plans, which include funding to offset costs for impacted businesses, improved planning and communication strategies, and more clarification on how each level of government will be involved. ”
With the ever-evolving landscape of the Canadian economy, franchising has emerged as a vital sector, providing robust opportunities for immigrants seeking to establish themselves and contribute to their new communities, says the CFA.
Ryan Picklyk
Ryan Picklyk, Chair of the CFA Board of Directors and Senior Director of Strategic Partnerships and Franchising for A&W Canada, said for newcomers franchising provides something that a lot of industries can provide.
“And that’s a bit of certainty. It’s a proven model both in terms of the actual case of franchising or industry but also proof of concept. Starting a new business is probably one of the hardest things you can do with so many unknowns,” he said.
“Franchising kind of limits some of those unknowns because it gives newcomers an opportunity to participate in established business concepts and business models and it gives them an opportunity to be in business for themselves but not by themselves.
“I think about our business and some of the many new Canadians that we’ve welcomed to the A&W world, it’s been a great place for them to build wealth for their family, generational wealth in many cases. It’s an industry that I just think is so well suited for newcomers coming into Canada because there’s so many unknowns when you move to a new country. Franchising provides a bit of certainty that they can really rely on when they’re starting a new business.”
The CFA says about one in four businesses (23.7 per cent) are owned by newcomers to Canada, showcasing their entrepreneurial inclination.
“The percentage of immigrant owners who are science, technology, engineering or mathematics (STEM) graduates is considerably higher among newcomers than those business owners from the second and third plus generations, suggesting that the immigrant entrepreneurs have undergone higher levels of education than their Canadian counterparts,” says the Association.
“Franchising offers a structured and supportive business model, which is particularly appealing to immigrant entrepreneurs. Franchising is about being in business for yourself but not by yourself. The support that franchisors provide — including systems, training, guidance, and ongoing support — helps franchisees successfully open and operate their local small businesses, making it an ideal pathway for immigrants looking to start their entrepreneurial journey with a strong foundation and support network in place.”
Photo credit: Pixabay
According to the CFA, Ontario leads in franchise units, accounting for 48 per cent of all operating franchises. However, there is significant potential for growth in other regions, such as the Prairies, the Atlantic, and West Coast markets. Newfoundland and Labrador and P.E.I. are expected to see the largest percentage growth in franchise locations through 2025, it says.
The franchising industry is a cornerstone of the Canadian economy, being the 12th largest industry in the country and the 2nd largest franchise industry in the world. Income from franchising is projected to contribute $120 billion to Canada’s GDP by 2025, with one in 10 Canadians employed directly or indirectly in a franchise system. The average Canadian interacts with three to five franchise locations daily, underscoring the pervasive presence and influence of franchises, adds the CFA.
“Franchising touches so many different business sectors. We like to say at the CFA that franchising is for everyone and a big reason for that is there are so many places where Canadians interact with franchising every day whether they know it or not,” said Picklyk. “So there’s no end of opportunity depending on what education a newcomer comes to Canada with or experience they have. There’s probably a franchising model that suits just about anybody in terms of that skill set that they bring.”
The CFA says franchise categories poised for growth include health and wellness, education, and B2B services. Canadians’ increasing health consciousness and the demand for supplemental education, especially in STEM/STEAM (science, technology, engineering, arts, math) fields, are driving these sectors. B2B franchises, offering digital marketing, IT support, business coaching, and property maintenance, continue to flourish, catering to ongoing business needs.
