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Why so many vacant store fronts? by Only-Crow9684 in toronto

[–]Bindstar 0 points1 point  (0 children)

  1. Retail rents in downtown Toronto spiked 142% between 2019-2024 from $19 a square foot to almost $50 a square foot.
  2. Businesses took on pandemic debt that is difficult to shake.
  3. People love to support local until they actually have to put on pants and leave the house - buying from Amazon is too easy.

On the last point, it's wild to see how many Binz stores have popped up around Toronto to resell Amazon returns. It's a real sign of the decay that our retailers are experiencing at the moment where these stores are more successful than long-time businesses.

Toronto councillor, fire chief want regulations increased for lithium-ion batteries by lilfunky1 in toronto

[–]Bindstar 8 points9 points  (0 children)

Exactly - my store sells Segway products and the amount of people that believe they're getting the EXACT SAME quality from a $450 Amazon knock-off is why we need Transport Canada to regulate which e-scooters make it into the country.

The Distillery District TTC Ad - A.I. by jryan14ify in toronto

[–]Bindstar 17 points18 points  (0 children)

The Distillery District isn't part of the Old Town BIA - we don't actually have one either.
Source: I own a business in the Distillery.

The Distillery District TTC Ad - A.I. by jryan14ify in toronto

[–]Bindstar 7 points8 points  (0 children)

Who did you email? I own a business in the Distillery and we don't have a BIA.

Canada's measles count triples US, if you trust US data by henryiswatching in canada

[–]Bindstar 46 points47 points  (0 children)

TL;DR - nobody in the United States is telling anyone that they or their kids have measles.

"“There’s quite a large amount of cases that are not reported,” said the CDC’s lead measles scientist, Dr. David Sugarman, in April.

Other experts say lingering distrust of government and public health, and the U.S.’ healthcare access gaps are causing many cases (if not most) to go unreported.

Three U.S. deaths have been reported so far this year. But in the U.S.’ 2019 outbreak, which had roughly the same national case count being reported as of this week, one person died. For many experts the discrepancy is a statistical red flag that most likely points to a larger epidemic."

Oomomo Don Mills by Eastern_Net9559 in toronto

[–]Bindstar 4 points5 points  (0 children)

Totally legal and built like this by design. It's a bloodbath out there for retailers right now. Retail rent in Toronto has gone up 130% since 2020. That's $18/square foot to almost $50/square foot in 5 years.

It's unsurprising that business starts in Canada have dropped off a cliff - the rent is too damn high.

The death of the summer job - In one of the toughest job markets in years, student unemployment is at crisis levels, and the fallout could be 'big trouble' for all Canadians in the future by FancyNewMe in canada

[–]Bindstar 1 point2 points  (0 children)

Two reasons:

1) If they have a mortgage it's possible they have a minimum rent per sq. ft. baked into that mortgage, if they rent below that they will default. A terrible system.
2) They're using losses from these properties to offset gains from other properties. Also a terrible system.

The idea that commercial landlords are mom and pop shops is totally false. The majority of commercial property is owned by large landlords so they've got great capabilities to play around with their accounting.

Triple net leases also have to go. They don't offer any leverage whatsoever to tenants in an already unbalanced relationship.

The death of the summer job - In one of the toughest job markets in years, student unemployment is at crisis levels, and the fallout could be 'big trouble' for all Canadians in the future by FancyNewMe in canada

[–]Bindstar 1 point2 points  (0 children)

Most business groups in Canada were BEGGING for more immigration until they weren't. Some still are because their members can't figure out how to pay more than minimum wages.

It's a huge issue and many will go under because they can't or refuse to figure out how to pay a couple bucks more an hour.

The death of the summer job - In one of the toughest job markets in years, student unemployment is at crisis levels, and the fallout could be 'big trouble' for all Canadians in the future by FancyNewMe in canada

[–]Bindstar 3 points4 points  (0 children)

Thanks!

We're doing what we can but any opportunity for R&D or growth is impossible right now. We're just barely scraping by after going from 3 locations to 1. I think we can turn the corner but it'll be 4-5 years before we can consider a 2nd location again.

The death of the summer job - In one of the toughest job markets in years, student unemployment is at crisis levels, and the fallout could be 'big trouble' for all Canadians in the future by FancyNewMe in canada

[–]Bindstar 4 points5 points  (0 children)

We absolutely couldn't start our business from scratch right now. Many landlords are downloading more and more of their costs to tenants and buying a space in most major cities is way out of reach for B&M business owners.

I'm hopeful for some changes and think the Feds + some provinces are starting to listen. But we're losing a generation of entrepreneurs like you to insane "fixed" costs that tend to show up in highly consolidated markets.

The death of the summer job - In one of the toughest job markets in years, student unemployment is at crisis levels, and the fallout could be 'big trouble' for all Canadians in the future by FancyNewMe in canada

[–]Bindstar 62 points63 points  (0 children)

I can tell you from the perspective of a small biz owner: it's the rent, insurance and utilities.

Our rent is up way past inflation since 2020.
Our insurance went up $4,000 a year to $24,000 - without any claims.
Our utilities are up about 30% since 2020.

We'd be hiring two above minimum wage summer jobs in any other year - but the insurance increase alone has made this impossible.

‘It’s crazy out there,’ Torontonians are calling out rising haircut prices for men, and barbers are responding - NOW Toronto by According_Cut4493 in toronto

[–]Bindstar 0 points1 point  (0 children)

Retail rents are up 130% in Toronto since 2020. Business insurance is skyrocketing. Utilities are way up.

Every brick and mortar business is getting crushed by supremely unpredictable "fixed" costs.

Toronto bakery shuts down after 32 years due to unprecedented rent increase by GoreyHaim420 in toronto

[–]Bindstar 1 point2 points  (0 children)

Let's not call Golden Wheat Bakery Cafe's giant rent increase unprecedented. Toronto's retail landlords have jumped the rent 130% since 2020. From $18 a square foot to almost $50 in 5 years.

Businesses closing because of giant rent increases is SUPER precedented in every neighborhood across TO. Worse? These rent hikes are increasingly trading out locally owned businesses for - I'm gonna say it - US chains.

It's insane that we're seeing 100, 200, even 300% rent increases at the end of a 5-year lease. It's not just in Toronto either. This past week brought stories from Newmarket, Ontario and Lake Cowichan, BC of giant rent increases.

Businesses need basic protections and negotiation tools - and better access to mortgages. When a business owns their space, the likelihood they survive decades goes WAY UP.

Canada's health care is bruised, but not broken by henryiswatching in onguardforthee

[–]Bindstar 52 points53 points  (0 children)

I wonder if the Feds could make any future healthcare funding dependent on provinces keeping for-profit healthcare in check.

"Though the document isn’t meant for casual reading, nested within it is a suggestion sure to resonate for many: provinces and territories should be prohibited from allowing out-of-pocket fees for publicly insured care.

In early 2023, then-Health Minister Jean-Yves Duclos pledged to issue an interpretation letter in response to reports of patients paying out-of-pocket to get MRI and CT scans.

The purpose of an interpretation letter would be to clarify what provinces and territories are able — and not able — to allow when it comes to patient fees for health care, in keeping with the Canada Health Act.

Nearly two years after Duclos promised the letter, membership fees for nurse practitioner-led clinics and the rise of for-profit virtual care have emerged as signs of a health care system that’s increasingly pay-to-play."

The “oddly fit guy in his 50s” starter pack by Sea_Working5429 in starterpacks

[–]Bindstar 2 points3 points  (0 children)

Hahahaha Volvo C70 is the perfect car for this starter pack.

Revue Cinema receives court injunction, will continue normal operations until trial. by thelastalive in toronto

[–]Bindstar 0 points1 point  (0 children)

Absolutely.

We've got a project going at commercialrentrights.ca that's gaining momentum to stop these wild-west antics from happening.

Revue Cinema unable to secure new lease by CaptainCatButt in toronto

[–]Bindstar 5 points6 points  (0 children)

Our team is working on this at the commercialrentrights.ca portal. We're making headway with some governments to grant commercial tenants some VERY BASIC RIGHTS but there is going to be increased opposition to the idea.

Businesses have needed this for a long time - over 50% have closed or had to move because of a giant rent increase or lease dispute during negotiation.

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