The Tim Hortons franchise is a popular choice for entrepreneurs looking to open their own businesses. With its successful history and strong brand recognition, it is no wonder why so many potential business owners can be drawn to this iconic Canadian brand.
Whether you are already familiar with franchising in general or just starting to explore the possibilities that come along with owning your own business – Tim Hortons can offer an exciting and potentially lucrative opportunity.
This article will provide information regarding the total investment required, franchise fees, profits, available training programs, restrictions for renewal terms, and more.
These details will help you better determine if investing in a Tim Hortons franchise is right for you. So if you’ve been considering taking the plunge, keep reading to learn more.
About & History Of Tim Hortons
Tim Hortons was founded in 1964 by Canadian hockey player Tim Horton and Jim Charade, a former ice-hockey player turned entrepreneur. The first store opened its doors on May 17th of that year in Hamilton, Ontario. The shop sold coffee and donuts to customers at the time.
1967 – 2014
In 1967, Ron Joyce joined the business as a partner and began expanding it across Canada. By 1975 more than 200 stores were operating throughout Ontario and Quebec.
In February 1976, Tim Horton died in a car accident, leaving his partner, Ron Joyce, with complete company ownership.
Joyce expanded the chain rapidly during the late seventies to early eighties through franchising activities within Canada. He also pursued an aggressive marketing strategy to promote the company. In the mid-eighties,
Tim Hortons started to expand into other provinces and entered the United States market in 1984 with 3 locations in Buffalo, New York.
In 1995, Tim Hortons Incorporated was listed on the Toronto Stock Exchange, and a year later, they opened their 500th store in Canada.
Over the next 15 years, the chain grew exponentially across Canada and internationally, opening stores all over North America.
In 2014, Burger King acquired Tim Hortons for $11 billion, creating the world’s third-largest fast-food restaurant chain.
Today Tim Hortons is one of the most recognized brands in Canada, with 4500 restaurants operating in 14 countries around the world. The company has also become a key player in the Canadian coffee and doughnut market, with a 17% market share.
Tim Hortons Franchise Model
|Area Requirement||Between 1,000 and 2,300 square feet|
- Candidates must have completed the Pre-Qualification Questionnaire.
- The minimum Financial Requirement is $500,000, and Unencumbered funds are $100,000.
First, you have to qualify for the Pre-Qualification Process, and if you qualify in this round.
Then Tim Horton’s will contact you and invite you to complete credit and criminal checks, asset verification, and sign a Non-Disclosure Agreement.
Then, there are two more interviews scheduled with the operation Representative.
Training Of Tim Hortons
New Franchisees undergo an intensive four to five weeks training program at the Tim Hortons Training Center.
Their Team provides training in managing customers, employee relationships, equipment maintenance, in-store security system, and mainly food process and hygiene procedures.
Tim Hortons Comparison
|Company||Tim Hortons||Taco Bell|
|Initial Investment||$680,900-$1,906,300||$525,100 – $2,622,400|
|Annual Revenue||$6.526 Billion||$2.03 Billion|
What is Tim Horton's most popular cuisine?
The most popular cuisine of Tim Hortons is an English muffin sandwich.
How many Tim Horton's Franchises are there in the US?
There are more than 632 franchise stores in the USA.
Is Tim Hortons a franchise?
Tim Hortons is an international franchise brand that offers restaurant franchises worldwide.
How much does a Tim Hortons franchise cost?
The franchise fee for Tim Hortons is $25,000-$50,000, and their cost of investment ranges from $680,900-$1,906,300.
Who is the owner of Tim Hortons?
Tim Hortons is owned by Restaurant Brands International (RBI), a company formed in 2014 by merging two fast-food giants: Burger King and Canadian coffee chain Tim Hortons.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.