4,000 restaurants in Canada predicted to go out of business in 2026: forecast

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DesRicardo

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Ceiling Cat

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Restaurants are a luxury that can be cut down or cut out. That is why Walmart, Dollarama and the No Name brand has gotten so popular. People are trying to save a buck here and there. Now if someone can offer a generic SP service, there might be line ups down the block.
 
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angrymime666

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Ceiling Cat said:
Restaurants are a luxury that can be cut down or cut out. That is why Walmart, Dollarama and the No Name brand has gotten so popular. People are trying to save a buck here and there. Now if someone can offer a generic SP service, there might be line ups down the block.
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That would be a real doll brothel. Was attempted many years ago but I think bylaw shur it down.
 
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Ceiling Cat

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No.....I called the health department on you.

I was walking in the door when I heard a client complaining that you were making the dolls work even when they were sick. He said that the doll he was with had a runny nose for the whole time he was there. That is when you turned to the guy mopping the floor and said : Hey, Joe. Go empty the doll in room number 4, it is full again!
 
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DesRicardo

aka Dick Dastardly
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Bigben$ said:
Um butt yall line up for Mc Donald’s , they won’t be closing any locations I bet I feel bad for my cousins in the north. Like five years was an understatement ten to 20. We feel you close your economy for a trade war with your biggest trading partner and friend. We don’t call it a war down here negotiations and they always seem too stall from your guys lack of understanding of we own your economy and bussiness sorry you sold out old Hudson Bay 200 year old company I believe for Walmart ! We can’t even buy groceries and most of our Walmarts.
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Even the mighty giant McDonald's has to adjust their price structure to keep customers coming in.
financialpost.com

McDonald's Canada announces year-long price lock on $5 meals

McDonald’s Canada is promising to keep value meals priced at $5 for the whole year in hopes of attracting cash-strapped customers. Read here
financialpost.com financialpost.com
 
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Cbr20152012

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4000 is quite a low number when you consider it’s the entire country. Given the risky nature of the industry I’d except 1/10 to die off every year. The turnover in Toronto alone is a significant number relative to 4,000. My understanding is that 4,000 is roughly 4 percent of the total registered industry in Canada.

Are there any other industry/industry adjacent people here that can/are willing to knowledgeably chime in? I’d love confirmation or refutation of the above as, while I receive and read and peripherally speak on industry statistics, I’m only adjacent to the overall industry.

Also - this is a good example of why CBC needs to step up their game. It’s just not a viable media source. Often I find it Too small town. Too “awww gee shucks”. Too left leaning. I’d love to see a strong factual informative centrific Canadian news source. Especially as it’s publicly funded.
 
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Ceiling Cat

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If people have to cut back on a $50 -70 meal, how much will they cut back on SPs.
 
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fall

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Ceiling Cat said:
If people have to cut back on a $50 -70 meal, how much will they cut back on SPs.
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None. I have no idea why people are still going to restaurants. What is there that you cannot cook at home? SPs, on the other hand, are very different from your own hand.
 
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Jami77

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They've been jacking the prices up in restaurants for so long it isnt a surprise that they pushed it too far.

I'm not paying $26 for a burger that oftentimes is no better than a Big Mac.

In fact I'm not paying $5 for a big mac when I can just buy ground beef and make my own burgers on the Barbie. They taste better - I know whats in them and I dont have to sit next to a shirtless homeless guy.... (I'm talking about you any McDonalds on Yonge St)
 
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Butler1000

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Cbr20152012 said:
4000 is quite a low number when you consider it’s the entire country. Given the risky nature of the industry I’d except 1/10 to die off every year. The turnover in Toronto alone is a significant number relative to 4,000. My understanding is that 4,000 is roughly 4 percent of the total registered industry in Canada.

Are there any other industry/industry adjacent people here that can/are willing to knowledgeably chime in? I’d love confirmation or refutation of the above as, while I receive and read and peripherally speak on industry statistics, I’m only adjacent to the overall industry.

Also - this is a good example of why CBC needs to step up their game. It’s just not a viable media source. Often I find it Too small town. Too “awww gee shucks”. Too left leaning. I’d love to see a strong factual informative centrific Canadian news source. Especially as it’s publicly funded.
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50% of new restaurants die in the first year. Especially non chain attempts.

OP is a Carney hater and just likes to troll stats.
 
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DesRicardo

aka Dick Dastardly
Dec 2, 2022
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Butler1000 said:
50% of new restaurants die in the first year. Especially non chain attempts.

OP is a Carney hater and just likes to troll stats.
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Never once mentioned Carney in this thread. This is a business forum and I posted a business article/story.

I'm sorry if you can't deal with reality.
 
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Butler1000

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DesRicardo said:
Never once mentioned Carney in this thread. This is a business forum and I posted a business article/story.

I'm sorry if you can't deal with reality.
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Sure. Reality is its well within the norms of business failure within the industry. Add in continued work from home resulting in less businesses needed around offices, inflation, and honestly bad food and service resulting from all the institutional knowledge loss due to the pandemic closures, and really its an alarmist article.

Glad I could help you see the truth of the conditions and that its not unusual or something to be worried over.
 
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Butler1000

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DesRicardo said:
Do you have any year over year stats on this?
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I'm sure Google can give you lots of sources. If its that important feel free to research it. I've spent decades on the industry. It's a damn tough business.

Basically you are looking at a 4-6% profit margin average for a successful place. 50% closure rate in the first year.

But take that 4-6% rate on ones that make it that far. Now that leaves very little error margin for rent hikes, food cost hikes, various labour costs. Add in things like POS costs, subs costs(open table, music). Energy costs. Things like breakage, food waste, and staffing issues can quickly eat that margin to zero. Ive seen it.

How many older restaurants are closing, busy as hell, just due to rent hikes? To developments coming in. My feed gets them pretty regularly.

But its nothing new. This dates back to when I started in the 80's and asked questions of owners. Once I realized what it took I knew I didn't want to open my own.
 
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