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How much does it cost to purchase a Tim Hortons franchise?
The cost of a Tim Hortons franchise varies depending on the restaurant size and location, along with other factors. You must have $1.5million in net worth and $500,000 liquid assets in order to qualify. Financial requirements may be lower or higher depending on the transaction type.
What is the franchise fee for a 20-year Franchise Agreement term?
The franchise fee is currently $35,000, and it is due before the Restaurant opens for business.
I am interested in suggesting a new market – who do I submit this to?
It is our practice to conduct a feasibility study to determine the viability of a town/region, and will advertise if we are seeking a franchisee for this market on our website. As a result, we are unable to respond to individual requests to review a specific market or region.
What types of qualifications does Tim Hortons seek in a franchise candidate?
For mutual success and satisfaction, we must ensure that each franchisee possesses the necessary skills, commitment level, dedication, work ethic, character and strong people skills. There are a number of qualifications we look for in an applicant such as:
Who can be a partner?
Any proposed partnership will be evaluated accordingly. Our goal is to ensure we have the best franchisees in our restaurants, and recommend giving careful consideration to who your potential partner will be as Tim Hortons franchise agreements are typically 10 years in length with an option to renew for an additional 10 years. We evaluate criteria in any partnership such as: time you have known one another, previous business experience together, proven experience working in a non-business setting, and other factors.
Once I meet the criteria, what is the waiting period for a franchise and how do I know what number I am on the list?
When we have an opportunity for a new franchisee, all applicants who have identified that particular area as a location preference, will be considered. The most qualified applicants will be contacted for the first interview. Consideration is not based on the length of time that an applicant has been on file, so we are unable to quote timeframes or guarantee a candidate that they will ultimately be chosen for an interview and/or approved for a franchise.
In addition to the initial investment of a Tim Hortons franchise, what on-going payments am I required to make during the term of the License?
On-going payments include:
What is the term of the License Agreement?
The term of the License Agreement is usually 10 years and usually with options to renew for up to a further period of 10 years.
How many units can I develop?
It will depend on how many units you are capable of/willing to develop. We currently offer franchise opportunities for Individual franchisees and opportunities for Area Developers. We encourage our franchisees to develop their operational abilities so they are capable of owning and managing multiple restaurants.
What if I am interested in an International franchise outside of Canada and the United States?
We are constantly evaluating our international strategy and territories for growth. At the moment, unfortunately there are no franchising opportunities available outside our existing markets. We will update the “Available Markets” section if we start offering opportunities in a new market.
How secure is my personal information?
All information is kept confidential within the Franchise department of Tim Hortons USA Inc. We do not sell your personal information to third parties.
I have a Real Estate Site I wish to bring forward, will you consider it?
Yes. If you have a real estate location you would like us to review, please fill out the Site Submission Form in the “Opportunities” page. We will review the form and will get back to you once we have evaluated the site potential.
I submitted a Franchise Application, do I need to re-apply?
If you have submitted an inquiry to us and you have not heard from a member of our Franchising department, then we do not have any opportunities available for which you have been selected and are unable to comment on a timeframe when this will change.
For more Franchising information, please do not hesitate to review all of our Frequently Asked Questions online at www.timhortons.com.