iQ Food Co.

What iQ Food Co. does

iQ Food Co. is a Toronto-based quick-service restaurant chain specializing in nutrient-dense, made-from-scratch meals targeting health-conscious urban consumers. Founded in 2011, the brand operates restaurants serving bowls, soups, toasts, wraps, smoothies, and beverages built around local Ontario farm sourcing partnerships with named producers including Erie James, Koornneef Produce, Mariposa Dairy, Pefferlaw Creek Farms, The Butcher Shoppe, Dear Grain, Smile Tiger Coffee Roasters, and Exeter Produce. The company was acquired by Happy Belly Food Group Inc., a Canadian restaurant consolidator whose platform encompasses 666-686 contractually committed retail franchise locations across multiple emerging food brands. Under Happy Belly ownership, iQ expanded from 4 locations at the time of acquisition to 9+ currently operating, with the 8th GTA location opening at 1092 Queen Street West in Toronto in April 2026.

The core operational platform consists of company-owned and franchised restaurant locations in high-traffic pedestrian urban corridors, complemented by a proprietary mobile ordering application on iOS and Android (built on the Incentivio platform) that supports direct-to-consumer ordering, loyalty rewards with transferred points, and digital gift card sales. Supporting channels include web-based ordering through the brand's website and an iQ Catering service targeting enterprise office and event segments. Revenue mechanics combine direct restaurant food sales at unit prices ranging from $4 for coffee and baked goods up to $23 for premium bowls, with franchise development fees and ongoing royalties from multi-unit Area Development Agreements. Customer segmentation targets health-conscious urban consumers and busy urban professionals and families, with franchise revenue diversification through multi-unit operators including a 5-unit Calgary franchisee at The CORE Shopping Centre.

Name

iQ Food Co.

Legal name

iQ Food Co.

Website

https://iqfoodco.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

iQ Food Co. is a Toronto-based quick-service restaurant chain serving nutrient-dense, locally sourced bowls, soups, toasts, wraps, and smoothies to health-conscious urban consumers via 9+ locations across Ontario, Alberta, and British Columbia, operating as a brand under restaurant consolidator Happy Belly Food Group.

Ownership category

akta.pro rank

Product category

Quick-Service Healthy Restaurants

NAICS

Limited-Service Restaurants (722513), Caterers (722320)

SIC

Retail-Eating & Drinking Places (5810)

akta.pro industry

PRIMARYAFAKAHAA

Frozen prepared meals & entrées manufacturing

Agriculture & Food Production/Food Processing & Manufacturing/Prepared Meals, Ready-to-Eat & Convenience Foods Manufacturing

Keywords

• Healthy quick service restaurants
• Nutrient dense bowls
• Restaurant catering services
• Mobile food ordering app
• Restaurant franchise operations

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Restaurant Food Sales: Revenue generated from direct food sales at restaurant locations, including dine-in, takeout, and delivery orders placed through company-owned and franchise locations.
2. Franchise Fees and Royalties: Income from franchise development agreements and ongoing royalties from franchisee operators. The company seeks qualified investors with restaurant experience to own and operate iQ Food Co. locations.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

iQ Food Co. operates quick-service restaurant locations serving made-from-scratch, nutrient-dense bowls, soups, toasts, wraps, smoothies, snacks, baked goods, coffee, tea, and beverages prepared from fresh, locally sourced ingredients. The brand extends this menu into a mobile and web ordering experience (iQ Mobile App on iOS/Android and Incentivio-powered web ordering with loyalty rewards) and offers catering services for offices and events, supported by a multi-unit franchise expansion model.

Product overview

iQ Food Co. operates as a quick-service healthy food restaurant brand offering nutrient-dense, freshly prepared meals. The core product is the restaurant concept providing bowls, soups, toast, wraps, smoothies, snacks, and beverages. The company offers a mobile ordering app available on iOS and Android that enables customers to place orders and manage loyalty rewards. Additional services include catering and gift cards. The brand was acquired by Happy Belly Food Group in Q3 2024 and has expanded from 4 locations at acquisition to 9+ locations across Ontario, Alberta, and British Columbia, with Area Development Agreements totaling 80 committed units.

Differentiator

Problem solved

Functional benefit

Products and services

• iQ Food Co. Restaurant Quick-service restaurant concept offering nutrient-dense bowls, soups, toasts, wraps, smoothies, snacks, baked goods, coffee, tea, and beverages prepared from fresh, locally sourced ingredients for health-conscious urban consumers across Ontario, Alberta, and British Columbia.
• iQ Mobile App Proprietary mobile application for iOS and Android enabling customers to place food orders, manage their account, and earn and track loyalty reward points for iQ Food Co.
• iQ Catering Catering service offering the full iQ menu of bowls, toasts, wraps, smoothies, snacks, and beverages for offices, events, and group occasions.
• iQ Gift Cards Digital and physical gift cards available for purchase and redemption at iQ Food Co. restaurant locations, powered by the Incentivio ordering platform.

Quantifiable outcome

• Expanded from 4 to 9 locations following Q3 2024 acquisition
• +1 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core and minor.

• Local Farms and ProducerscoreStrategic or Co-development PartneriQ partners with local farms, producers and purveyors across Ontario and beyond. Named partners include Erie James (Leamington, ON), Koornneef Produce (Beamsville, ON), Maripopa Dairy (Lindsay, ON), Pefferlaw Creek Farms (Uxbridge, ON), The Butcher Shoppe (Etobicoke, ON), Dear Grain (Dundas, ON), Smile Tiger Coffee Roasters (Kitchener, ON), Exeter Produce (Exeter, ON), BeeMaid (Winnipeg, MB), and Homestead Farms (Newmarket, ON) among others.
• Greenhouse BeveragesminorStrategic or Co-development PartnerSupplier of Organic and Non-GMO Plant-Based beverages sourced from Toronto, ON for use in smoothies and other menu items.
• Incentivio (Ordering Platform)coreTechnology or IntegrationThird-party ordering platform used for web-based ordering and gift card sales through incentivio.com/c/iqfoodco/ endpoints.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/iqfoodco
• Xx.com/iqfoodco

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about iQ Food Co.