Sunday, 25th January 2015 | Marketing,Management

Food Trends in Canada

Is there a secret to success in the restaurant business? We’re not sure, but if you have it, we’d like to chat. Until then, it helps for you to stay informed about the ongoing changes in the marketplace. The sooner you identify and take advantage of new trends, the more you will benefit and the easier it will be to adapt to future changes.

Is there a secret to success in the restaurant business? We’re not sure, but if you have it, we’d like to chat.

Until then, it helps for you to stay informed about the ongoing changes in the marketplace. The sooner you identify and take advantage of new trends, the more you will benefit and the easier it will be to adapt to future changes.

Below are five trends worth watching:

  • Fewer Menu Items - With customers valuing the ‘experience’ of dining out, more restaurants will stop trying to cater to every taste. Instead they will look at menu themes or focus on a few dishes that they do exceptionally well.
  • Now You Need to Satisfy Both Boomers and Millennials - One wants healthier options and the other wants to deal with more connected and responsible businesses. And both of them have money to spend. Boomers will appreciate more gluten-free, low-salt and vegetarian options. Millennials will need to hear about you on Instagram or other social media, and they want to know that you offer socially responsible foods, like free-range chicken.
  • Beverages Refined - While different, more exotic dishes have been an ongoing trend, in 2015 that trend will shift to your beverage menu. You will see a wider variety of teas and coffees (even Tim Horton’s now has its Dark Roast option), exotic juices and alcoholic options that include ciders (gluten-free), low-alcohol choices and oil-infused cocktails.
  • More Hybrids - It started when chef Dominique Ansel combined croissant and donut pastry dough to create the Cronut in 2013. In 2015, the hybrid trend will grow to include dishes like ramen burgers, brioche/souffle mix (another mash-up from Ansel) and dessert pizza.
  • Localization & Personalization - In 2015, local restaurants will continue to battle their big-box cousins for the hearts and tastes of diners. Two powerful weapons in that fight will be menu items made from local foods and offering customers more ‘choose your items/ingredients’ options.

Remember, no matter how hot the trend, what works for one restaurant doesn’t always work for another. Stay informed, talk to your customers and find out what works best for your business.

Source: https://blogs.technomic.com/technomic-spots-five-2015-food-trends-for-canadian-restaurants/

Read Also

Improving Your Small Business's Financial Health: Tips for Budgeting and Forecasting

A strong financial foundation is essential for small business success. At iCapital, we empower Canadian entrepreneurs with practical financial strategies and accessible funding solutions, especially when the bank isn’t an option.

Unlike most lenders, we are 100% Canadian-owned, operated, and funded, not a broker or a U.S. based company marketing to Canadian businesses. That means when you choose iCapital, you’re securing financing and supporting a fellow Canadian business that understands your market.

This guide covers key budgeting and forecasting steps to strengthen financial health and position your business for sustainable growth.

1. Understand the Importance of Budgeting and Forecasting

Budgeting is the process of mapping out your income and expenses over a set period while forecasting predicts future financial outcomes based on historical data. Both are essential for business stability, helping you allocate resources, anticipate challenges, and make informed financial decisions.

2. Set Clear Financial Goals

Define short-term and long-term financial objectives to ensure your business stays on track. Whether expanding operations, launching new products, or boosting profitability, your budget and forecast should align with these goals.

3. Track Income and Expenses Diligently

Small business owners often struggle with cash flow due to untracked or unexpected expenses. Using accounting software or working with a professional can help you:

  • Identify cost-saving opportunities
  • Prevent financial shortfalls
  • Stay tax-compliant and organized

With precise tracking, you’ll gain better control over spending and avoid cash flow crunches.

4. Develop Realistic Revenue Projections

Base revenue estimates on sales trends, market conditions, and economic forecasts. Avoid overly optimistic projections, which can lead to overspending and financing gaps. A realistic forecast gives you an accurate picture of business health and ensures you’re not caught off guard.

5. Categorize Expenses Accurately

Differentiate between:

  • Fixed costs (rent, salaries, insurance)
  • Variable costs (inventory, marketing, seasonal expenses)
  • Unexpected costs (repairs, emergency inventory purchases)

Understanding these categories improves spending decisions and helps prevent budget overruns.

6. Monitor Cash Flow Regularly

Many businesses fail not because they aren’t profitable but because they run out of cash. Monitoring cash flow ensures you can cover payroll, supplier payments, and day-to-day expenses without financial strain.

7. Benchmark and Continuously Improve

Compare your financial performance against past data and industry standards. Regular benchmarking helps you:

  • Identify areas for improvement
  • Adjust pricing and spending strategies
  • Stay competitive in your market

By reviewing actual vs. forecasted results, you can make proactive financial decisions rather than reactive ones.

8. Plan for Contingencies

Unexpected financial challenges can happen anytime, whether it’s a slow season, equipment failure, or supply chain disruptions. A contingency fund helps ensure your business remains stable during uncertain times.

9. Utilize Financial Tools and Software

Financial software streamlines budgeting, forecasting, and cash flow tracking. By automating these processes, you can:

  • Reduce manual errors
  • Gain real-time insights into your business finances
  • Make data-driven decisions with confidence

Investing in digital financial tools improves efficiency and accuracy, making it easier to manage your business finances.

10. Seek Professional Advice

Navigating financial planning alone can be challenging. Consulting with an accountant or financial advisor provides:

  • Tailored budgeting and forecasting strategies
  • Guidance on tax efficiency and compliance
  • Insights to maximize profitability

At iCapital, we specialize in helping Canadian small businesses improve financial health through financing solutions. Whether you're looking to stabilize cash flow, fund an expansion, or prepare for unexpected expenses, we can help.

Implementing these budgeting and forecasting strategies can strengthen your small business's financial health, paving the way for sustainable growth and success. Contact us today to explore financing options tailored to your business needs.

 

Blog

Scaling Up: How to Know When Your Small Business is Ready to Grow

Every small business owner dreams of growth, but scaling up isn’t just about ambition—it’s about timing. Expanding too soon can strain your finances and operations while waiting too long can mean missed opportunities. So, how do you know when the time is right?

At iCapital, we work with Canadian small business owners daily, helping them access the funding they need to expand sustainably and strategically. If you're wondering whether now is the right time to take your business to the next level, here are some key signs that indicate your company is ready to scale.

1. Consistent and Growing Revenue

One of the most apparent indicators that your business is ready to grow is steady revenue growth over time. It may be time to expand if your sales have been consistently strong for at least six months to a year. But remember, revenue alone isn’t enough—you’ll also want to ensure your profit margins are healthy and sustainable.

2. High Demand That Exceeds Capacity

Are you struggling to keep up with customer demand? If you’re regularly running out of stock, experiencing long wait times, or turning customers away, investing in more inventory, staff, or larger premises might be time. Scaling up can help you meet demand without compromising quality or service.

3. A Loyal Customer Base

Repeat customers are a strong indicator of business stability. If you have a loyal customer base that continues growing, it’s a sign that your product or service resonates with your market. Expanding your offerings or entering new locations can help you capitalize on this loyalty.

4. Strong Operational Systems

Before scaling, ensure your operations, processes, and technology can handle growth. A business that relies on manual processes or outdated systems may struggle when demand increases. Investing in automation, inventory management, and customer relationship management (CRM) tools can streamline your workflow and support growth.

5. Your Industry is Expanding

Timing is everything. If your industry is growing and market trends indicate a strong demand for your services, now could be the perfect time to position yourself ahead of competitors. Staying informed about industry trends can help you make data-driven expansion decisions.

6. Financial Stability and Planning

Growth requires investment in hiring, inventory, marketing, or new locations. Before scaling, ensure that your business has a strong financial foundation and that you have assessed short-term and long-term funding needs. A well-planned financial strategy can help you manage cash flow effectively, balance risk, and avoid overextending resources. If your business needs additional funding, securing external financing can provide support without straining your existing capital.

7. A Strong and Scalable Team

Your team is the backbone of your business. It may be time to expand if you already have capable employees who can take on more responsibility. If not, consider hiring key team members who can help lead growth initiatives. A strong team ensures that operations remain smooth as your business scales.

8. You Have a Clear Growth Plan

Scaling isn’t just about hiring more staff or opening new locations—it requires a strategic plan. Ask yourself:

- Do I have clear goals and a roadmap for expansion?

- Have I assessed potential risks and challenges?

- Is there a demand in my new target market?

A well-defined growth plan will help you scale sustainably and profitably.

 

Blog

Harnessing Brand Identity to Stand Out in a Competitive Market: Steps for Small Business Success

In today’s crowded marketplace, standing out isn’t just about having a great product or service—it’s about creating a memorable and consistent brand identity that resonates with your target audience. Whether you’re a small business owner launching a new venture or looking to refresh your existing brand, focusing on your brand identity can make all the difference.

Your brand identity is more than just a logo or colour scheme; it’s the essence of what your business represents. It’s how your customers perceive you and what sets you apart from competitors. When cultivated intentionally, a strong brand identity can attract loyal customers, build trust, and increase your market share. These steps will harness your brand identity and position your business for success.

Define Your Brand Values and Mission

A clear sense of purpose is at the heart of every successful brand. What does your business stand for? What problems do you solve for your customers? Your brand values and mission should guide every aspect of your business, from your marketing messages to how you interact with customers.

Take time to articulate your brand’s mission statement and core values. These should reflect the unique qualities that make your business stand out. For example, if sustainability is a key value, ensure it’s evident in your operations and communications.

Understand Your Target Audience

Your brand identity is only as strong as its connection to your target audience. To resonate with your customers, you need to know who they are, what they care about, and how they make purchasing decisions. Conduct market research to identify their preferences, pain points, and values.

Once you have a clear picture of your audience, tailor your branding to align with their expectations. This might involve choosing language that speaks to their values, creating visuals that capture their attention, or emphasizing benefits that matter most to them.

Differentiate with a Unique Brand Personality

What makes your business unlike any other? Your brand personality—the human traits associated with your brand—can help you stand out. Whether your tone is playful, professional, innovative, or approachable, it should remain consistent across all touchpoints.

A helpful exercise is to think of your brand as a person. How would you describe their personality? For instance, if you run a coffee shop, your brand might be “welcoming and adventurous,” focusing on community and exotic coffee blends. Use this personality to inform your messaging, design, and customer interactions.

Craft a Cohesive Visual Identity

Your visual identity is the most recognizable element of your brand. It includes your logo, colour palette, typography, and imagery. These elements should work together to create a consistent and memorable impression.

Invest in professional design to ensure your visual identity aligns with your brand’s personality and values. For example, a high-end boutique might opt for elegant fonts and a muted colour palette, while a tech startup might use bold colours and modern typography. Apply your visual identity consistently across your website, social media, packaging, and signage to build brand recognition.

Communicate Your Value Proposition Clearly

Your value proposition is your promise to your customers about what they can expect when they choose your business. It’s the reason they’ll pick you over competitors. To harness your brand identity effectively, ensure your value proposition is clear, concise, and front-and-centre in your marketing efforts.

Highlight your unique selling points (USPs) in all your communications. For instance, if you offer handcrafted products, emphasize the quality and care that go into each piece. If you’re known for speedy service, make that a focal point.

Engage Consistently Across Platforms

A strong brand identity requires consistent messaging and engagement across all channels. Your brand's voice and visuals should feel seamless, from your website to social media to in-store interactions. Inconsistent branding can confuse customers and dilute your identity.

For example, if your social media posts are lighthearted and fun, ensure your email marketing and in-store experiences reflect the same tone. Use brand guidelines to maintain consistency and ensure every customer interaction reinforces your identity.

Evolve While Staying True to Your Roots

As your business grows, your brand identity may need to adapt. Market trends, customer preferences, and industry changes can all influence how you position your brand. However, any evolution should stay true to your core values and mission.

For instance, a local Canadian bakery might expand its offerings to include gluten-free options without losing its commitment to homemade, high-quality baked goods. This evolution keeps the brand relevant while staying authentic.

Measure the Impact of Your Brand Identity

Like any other business strategy, your brand identity’s effectiveness should be measured. Track metrics like customer loyalty, social media engagement, and sales growth to assess how well your brand resonates with your audience. Customer feedback and reviews can also provide valuable insights.

If certain branding elements aren’t performing as expected, don’t be afraid to tweak them. Continuous improvement is key to maintaining a strong, competitive brand identity.

Next Steps

Harnessing your brand identity is one of the most powerful tools for standing out in a competitive market. By defining your values, understanding your audience, and creating a cohesive and authentic presence, you can build a brand that attracts customers and keeps them coming back.

As Valentine’s Day approaches, consider your brand identity as the foundation of a love story between your Canadian business and its customers. Show them why they should choose you and remain loyal to your brand. Your business can thrive and carve out its place in the market with a strong foundation. Remember, your brand is your story—make it one that customers can’t resist being part of.

 

Marketing

Kickstart Your Small Business Marketing for 2025

The new year brings fresh opportunities to innovate and elevate your small business marketing. As the holiday season becomes a memory, it’s time to pivot your focus toward long-term strategies that will drive success throughout 2025. Whether it’s adopting cutting-edge tools or connecting more deeply with your audience, these actionable insights will ensure your marketing efforts stay ahead of the curve.

1. Build on Holiday Momentum with Retargeting Campaigns

The holiday season introduced new customers to your brand—don’t let that engagement fade! Use retargeting ads to reconnect with holiday shoppers. Showcase complementary products or services they didn’t purchase and exclusive “New Year” offers to bring them back.

2. Embrace AI for Personalized Marketing

Artificial intelligence continues to transform how small businesses engage with customers. From predictive analytics to dynamic content recommendations, AI helps deliver hyper-personalized experiences. Consider tools like AI-driven email campaigns or chatbots to enhance customer interactions and stand out in a crowded market.

3. Refresh Your Digital Presence

Start the year strong by giving your digital channels a makeover. Update your website with new visuals, optimize navigation for user experience, and refine your SEO strategy with 2025’s trending keywords. Ensure your site is mobile-friendly and fast to keep customers engaged and ready to convert.

4. Explore New Platforms and Trends

Social media remains a powerful marketing tool, but 2025 requires more creativity. Platforms like TikTok and the metaverse offer fresh ways to connect with tech-savvy audiences. Experiment with short-form video content, AR/VR experiences, or even NFTs to create memorable interactions with your brand.

5. Double Down on Customer Trust

Data privacy is front and center in 2025. Be transparent about how you collect and use customer information. Offer clear privacy options and emphasize your commitment to protecting their data. This builds trust and positions your business as a leader in ethical marketing.

6. Prioritize Local SEO

Local SEO remains a cornerstone for small businesses in a world dominated by digital-first strategies. Optimize your Google My Business profile, collect reviews, and use geo-targeted ads to reach customers in your area. Hosting local events or offering community-focused promotions can also drive foot traffic.

7. Lean Into Video Marketing

Video content continues to dominate consumer preferences. Use videos to tell your brand story, showcase products in action, or highlight customer testimonials. Consider live-streaming events or tutorials to connect with your audience in real time and build deeper engagement.

8. Implement Interactive Content

Interactive marketing is a powerful way to keep customers engaged. Quizzes, polls, and augmented reality tools invite participation and make your content more memorable. For example, a quiz like “Which Product Matches Your New Year’s Goals?” can drive traffic and generate leads.

9. Adopt Growth Marketing Strategies

Growth marketing is all about looking at the bigger picture. Beyond acquiring new customers, focus on retaining them and increasing lifetime value through upselling, cross-selling, and loyalty programs. Tracking customer feedback and behaviour is key to refining your approach.

 

As the new year unfolds, seize the opportunity to innovate and connect with your audience meaningfully. By implementing these strategies, your small business will thrive, building on the success of the holiday season and paving the way for sustainable growth. Start today, and make this year your best yet!

 

Marketing

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