Toronto is a booming city that is practically overflowing with business opportunities. In 2016, the city was home to over 2.6 million people. Since then, this number continued to grow.
All of these people have needs — they require food, clothing and things to do in their spare time. Anyone with an entrepreneurial spirit can see that this is the perfect time to start a business in Toronto.
However, even if you’ve laid out your business model and have a contact list filled with potential clients, there’s still one thing that you need to figure out: your location.
New or inexperienced business owners often overlook the importance of their business’ location. If you want to be successful as a business owner, then you need to make good decisions right off the bat. This means that you need to make informed, educated decisions.
Continue reading to learn about the things you should consider while searching for a commercial building for your business.
1 – Neighbourhood
Toronto is made up of dozens of unique neighbourhoods. Each of them has something different to offer Torontonians.
Some neighbourhoods, like Yonge and Eglinton or Kensington Market, are filled with trendy bars, restaurants and retail spaces. These neighbourhoods tend to attract a younger, hipper crowd.
Alternatively, neighbourhoods like Liberty Village are packed with tech start-ups and other digital agencies.
Budding business owners can use this information to their advantage. By learning about the local demographics, business owners can make themselves more accessible to their preferred customer base.
As an example, if you’re opening a bar or restaurant, you’re going to want to look for a building in a trendier area. Likewise, if you’re in the initial stages of creating a start-up, you’ll want to consider business-focused areas.
2 – Flat Roof
Once you’ve decided what neighbourhood is most practical, you need to decide what type of building you want.
There are several options that you can choose from, however, the best roofing companies in Toronto recommend commercial buildings with flat roofs. Commercial flat roofs are beneficial to business owners for a plethora of reasons.
Some of these benefits include:
Easy and cost-effective to maintain
Ideal for solar panels
Can be used for storage (HVAC equipment, barbeques, etc.)
If you want to learn more about why you should look for a commercial building with a flat roof, you need to get in contact with the flat roof experts in Toronto.
3 – Proximity to Public Transit
The city of Toronto has one of the most impressive public transit systems in the country. This organized and efficient system is comprised of countless buses, trains and subways. Approximately 23.3% of the city’s population relies on public transit to get to work.
If possible, you should look for a commercial building that is close to a public transit station. This will make it easier for you to get to work. Additionally, when the time comes to hire employees, you can advertise that you’re located near a public transit station. This will entice people that live on the outskirts of the city to apply.
With a little bit of help, anyone can find the ideal commercial building for their business.