The biggest city in the province of Saskatchewan, Saskatoon is a popular economic and cultural centre in Canada. Its hinterland is filled with prairies which now consist of a string of restaurants, bars, and breweries that are attracting people from all walks of life. The multicultural city has become a part of the priority list of the business-minded community. The big industries are playing a significant role in the development of the region which was once considered rustic and laidback.
The city has been progressing fast, and its highly diversified economy showcases the growth beautifully. The city is the driving force behind the progress of the Saskatchewan province. With a steadily increasing population, low unemployment rate, rising household incomes and a booming commercial sector, Saskatoon has become one of the prominent trading hubs in the country. The healthy growth rate and rise in GDP indicate that the city will continue its winning streak in the future as well.
Thus it is no surprise that many seasoned entrepreneurs, as well as first-time buyers, are looking for businesses for sale in Canada. If you are among those who plan to take the entrepreneurial way, here is a list of the top seven business opportunities in Saskatoon for 2019.
1. Food Business For Sale
There is an abundance of food-related businesses in Canada and it is quite apparent from the presence of a plethora of restaurants and cafes in every part of the country. Saskatoon is no different as food entrepreneurs and hospitality-driven individuals are making a beeline to open new eateries at every corner which cater to the changing food preferences of the population. Immigrants have brought in a variety of cuisines and the introduction of unique preparations is drawing customers in huge numbers.
Vibrant and buzzing cities like Saskatoon are among the primary regions which have gained a lot from the surge in the industry. The full-service restaurant industry in Canada has peaked in the past ten years to earn $31 billion in revenue. Over 40,000 businesses are operating as restaurants in the country and there is room for many more in the expansive hinterland of Saskatoon. You can start by purchasing a well-established food business right here.
2. Professional Service Business For Sale
The service industry is the largest contributor to the country’s economy with maximum jobs being generated in the sector. The professional, scientific and technical services have improved their contribution to the GDP from 3% to 4.5% from 1994 to 2003. The month-over-month increase in the revenue generation capacity of this sector has filled many entrepreneurs with confidence and many are now planning a career in this industry.
From home cleaning and landscaping service to servicing of automobiles and car detailing, the number of businesses is rising by the day. If you too wish to become involved in this high-growth trade, then take a look at the options for professional service business for sale in Saskatoon, Saskatchewan, available on the link below.
3. Building And Construction Business For Sale
Construction is one of the prominent industries in Canada which makes a significant contribution to the overall economy. The vastness of the country makes it an ideal place for the development of several commercial, residential and infrastructure-based projects. The growing population and migration of permanent residents are further boosting the industry which is now building skyscrapers and expressways in all the major cities.
Around 1.3 million Canadians work in the construction industry which is the fifth largest construction market in the world. The sector is all set to generate US $267.6 billion by 2022 which describes its potential and growth. It is the right time to step into the domain and you can find the best opportunities for building and construction business for sale in Saskatoon, Saskatchewan, right here.
4. Manufacturing And Industrial Business For Sale
The manufacturing and industrial sector has made a lot of progress over the years with the help of technological advancements. From mining, oil and machinery manufacturing to printing and agricultural machinery manufacturing, the sector employs an extensive workforce.
It is a significant part of the economy as it accounts for $174 billion of the national GDP. The rising demand for goods from a growing population is making way for more development. Coal, chemicals, textiles, and paints – all the businesses are flourishing in the country. If you are inclined towards this sector, then check out the latest businesses for sale in Saskatoon on the link below.
5. Takeaway Food Business For Sale
Takeaway joints have been thriving on the sale of fast-food which is quick to prepare and easy to pack and deliver. With the emergence of food delivery apps, the business of takeaway shops has touched the roof. Canadians are in love with fast-food and delivery services like Doordash, UberEats, and Seamless have made getting food to the dinner table extremely easy.
The urban working population living away from families is the highest contributor to this industry as they prefer ordering food than cooking. With rising incomes and depleting cooking time, the takeaway food business is only going to show an upward trend in the future. If you want to make the most of this boom, then click on the link below.
6. Retail Business For Sale
Many predicted that the popularity of online shopping would diminish the lustre of the retail world. However, the critics proved themselves wrong when 2017 experienced an expansion in the sector. Over 50 international brands set shop in Canada in 2017 and bombarded customers with a variety of discounts.
The new breed of retailers is looking for strategic locations to open their stores in Saskatoon and other bustling cities. The Chinese retailer, MINISO plans to open 500 outlets in the country by 2021 and many others will follow suit. Retailing in Canada is gaining momentum and will continue to soar in the coming years. To become a part of this thriving sector, click on the link below.
7. Supermarket Business For Sale
Supermarkets and grocery stores are doing great business in the country as the urban population heads to these daily needs shops for food and basic necessities. The retail sales generated from supermarkets and grocery stores were close to $91 billion in 2018-19. Big chains like Sobeys, Walmart, Costco and others have been making year-on-year profits and increasing their reach in the country.
Small supermarkets which are offering discounted items are becoming more popular among the buyers who are looking for cheaper goods. Thus there is ample scope for small players in the Saskatoon market. If you want to take over a similar supermarket business for sale in Saskatoon, Saskatchewan, click on the link below.
Many believe that Saskatoon will become one of the hottest commercial centres in Canada in 2019. The GDP growth of the Province is higher than its counterparts and will help in the progression of various small and medium-sized businesses. Thus it is the perfect time for entrepreneurs to try their luck in this promising city.