Market gaps in local communities need filling, say local business leaders

Business leaders in Kawartha Lakes say opportunities are emerging for entrepreneurs to fill market gaps as the city grows, and they’re optimistic about recent trends that suggest things are moving in the right direction.

More people are moving to the city every year, and many of these individuals and families are new Canadians representing diverse cultural backgrounds – and that means more businesses and services are needed to serve them, said Terry Guiel, executive director of the Lindsay and District Chamber of Commerce.

This creates opportunities for entrepreneurs to start businesses, such as restaurants and stores, that cater to an increasingly multicultural community, he added.

“We will see a large influx of people from the GTA who will require products, services, entertainment and food choices that align with their cultures,” Guiel told the Advocate.

“Our area has also been a bit under-serviced in restaurant choices beyond the franchise model, and we are in need of a larger facility for larger events that exceed 300 people.”

Kawartha Lakes is also a favoured region for people from the GTA to settle in their retirement, Guiel said, adding there are opportunities to create businesses – particularly in the arts – to meet the needs of a growing senior population.

“A vibrant art, theatre and cultural experience will be highly sought after by this demographic,” he said.

Guiel added local entrepreneurs can play a crucial role by providing needed businesses and services that meet the needs of a growing population with changing demographics.

“If you don’t provide the experiences and expectations people are escaping the GTA for in your community, then the growth and success of that integration will be weakened,” he said. “We need to be welcoming, creative and bold in order to achieve these strategies, in order to maintain and grow vibrancy within the business community.”

Kawartha Lakes real estate agent and businessman Aaron Young also said more restaurants reflecting the city’s growing diversity would be a bonus.

Young said that for a long time, people looking for a diverse selection of restaurants would go to Peterborough. But that’s starting to change, as Kawartha Lakes is becoming more multicultural, and a broader range of restaurant options are appearing, he added.

This not only serves the needs of locals, but also attracts visitors from surrounding areas, he said.

“What people don’t necessarily recognize is that the more restaurants you open in a community, the more people will come to that community,” Young said.

There’s also proactive work underway to identify and meet market needs as Kawartha Lakes grows.

Like many other areas of the city, Fenelon Falls has experienced a population increase in recent years. In response, the community has launched its second downtown revitalization project to strengthen the local economy, engage community leaders and enhance residents’ quality of life.

The initiative – called Discover Downtown Fenelon Falls – builds on the success of a previous five-year program completed in 2022, according to the Fenelon Falls and District Chamber of Commerce, which, along with the City of Kawartha Lakes and local volunteers, supports the initiative.

Project leaders conducted surveys with downtown businesses and residents to identify areas to strengthen in Fenelon Falls’ town centre. This included identifying high-potential business opportunities. At a March 26 public meeting, the project announced five opportunities identified:

– Transportation services
– Grocery stores
– Fitness and recreation centres/programming
– Full-service restaurants
– Hotels and accommodation

More than 350 residents participated in the survey, a number that demonstrates strong commitment to the town, said Shelby Richardson, who headed the study for the Fenelon Falls and District Chamber of Commerce.

“People are invested in the town’s future and want to be a part of it,” Richardson said.

Young said he’s already seeing hints that the business community will meet the needs that come with growth. He cites the arrival of restaurants, such as Osmow’s Shawarma and Chuck’s Roadhouse, as positive signs that entrepreneurs are helping move things in the right direction.

“People are looking here because it’s less expensive to live and operate here, and also … (Kawartha Lakes is) slated to be one of the fastest growing communities in Canada,” he said. “The number of new Canadians who are calling me on a weekly basis, telling me they want to open a business up here, (is also encouraging).”

Guiel said he’s also optimistic. He said Lindsay and the surrounding areas are safe, clean and do not have many of the socioeconomic issues other cities are facing. He added Kawartha Lakes “does an incredible job” maintaining the community and planning for its growth.

“Future parking needs studies, increasing the planning department staff and looking at new venues that will be used by the community for sports, entertainment and cultural enrichment are all positive signs of a community (that is) ready,” he said.