The Fast Food Restaurant Market of Canada

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Table of Contents

Size and Growth
Disposable Income
Existing and Projected Expenditures on the Product
Size
Historical/Projected Trends
Target Customers
Reference

Size and Growth

More than 100 various franchising offers
Growing demand for fast food restaurant franchising
Wide variety of demanded franchises with diverse prices and distinct revenue potential

Disposable Income

Growing possibilities to utilize disposable income, which increases proportionally with fast food industry revenue
Franchising in Canada produces approximately $100 billion disposable income

Existing and Projected Expenditures on the Product

Management with great knowledge of Canadian market specifics should be hired
Marketing analysis should be conducted
Considerable advertising campaign may be implemented

The targeted fast food market in Canada is significantly attractive for multiple reasons. The market has various specific aspects and unique differences from other countries, yet it provides constantly growing potential and opportunities for new players. The fast food market in Canada is relatively developed and accumulates vast amount of revenue. Currently there are approximately 20 thousand fast food restaurants in Canada, which generate almost $28 billion income yearly (Fast Food Restaurants in Canada, 2020). Moreover, the market is not only big, but also growing, as the growth rates exceed 1% annually for the last 5 years. The ratio may not appear to be significant, yet the absolute numbers reaching $250 million of annual revenue growth may at least seem to be promising. For the above-mentioned reasons Canadian fast food market may be viewed as considerably attractive. Its size proves that there is significant demand for provided products and the growth indicates that the market has future potential. In addition, market revenue increase means there may be large amounts of disposable income, which may be utilized by the suggested restaurant franchise project.

Size

Approximately 80 thousand small businesses, providing food services, which may be interested in franchising
More than 500 franchise units opened annually

Historical/Projected Trends

Even though the pandemic dealt a significant blow to the economy, the demand for fast food services and fast food franchising increased
Franchising market in Canada represents an upward trend for the last 15 years
As the fast-food market is growing, the projected trends for franchising are also positive

Target Customers

Small business is mostly interested in buying fast food franchises
Medium and large businesses are also interested in the product, yet they are not the prime target

Canada is a rapidly developing country with strong economy and wide business opportunities. Even though its market took a serious blow during the previous year due to several reasons including lockdown measures and pandemic issues, it is already recovering its previous state. The fast food restaurant market is closely linked with the overall economic environment in Canada. Despite the fact that the economy undergone a crisis, its consequences may have surprisingly positive effects on fast food market. Fast food products are typically preferred for two main reasons, which are convenience and low price. The small price aspect attracts low-income citizens to fast food, which means that the global problems in the economy may have positive impact on the industry. As average income decreases, the amount of potential consumers grows. An increase of consumption of fast food leads to growth of demand for restaurants, locations and particularly franchise options.

Reference

Fast Food Restaurants in Canada Market Size 20032026. IBISWorld. (2020). Web.