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Gideon
Joined: 24 Feb 2004
Location: Seoul
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 Posted: Sat Apr 21, 2007 7:52 am Post subject: Buying a Tim Hortons |
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Good choice? Should I cash in all my saving and invest into a Tim Hortons franchise?
Actually i know quite a lot about this business and the hospitality industry in general. I've met the co-founder of Tims, Ron Joyce during a sailing race in Marblehead, Boston a few years back. A lot of owners were at this event and Ron's 30 + million $ sailing yacht was the eye catcher. I remember when the race started I saw Ron sitting in the hot tub on his boat waving people off.. It was a great time to say the least.
I've been thinking about this for quite a long time. I know of others who own Timmys on the east coast, and they are doing very VERY well to say the least.
Info for anyone how is interested :
How much does it cost to purchase a Tim Hortons franchise?
The cost of a full Canadian franchise varies from $420,000 to $450,000* (CDN$) (plus all applicable taxes). At least $135,000 of the franchise cost must be unencumbered (cash or liquid assets), in addition to $50,000 in working capital (also unencumbered). The remaining amount may be financed through the chartered banks, upon 'approval' of a franchise.
* The cost of a Tim Hortons license may exceed $450,000 in certain locations due to higher development costs.
NOTE: Satellite franchisees (i.e. kiosks, malls, petroleum sites, airports, universities) are not available to a franchisee as their first location.
What is included in the cost of the franchise?
Included in the cost of a franchise is the following:
-all equipment, furniture, display equipment and signage
-8-week training program in the Oakville, ON Training Centre
-a store opening crew to assist in the opening of a Tim Hortons restaurant (for a maximum period of two weeks)
-the use of all Tim Hortons Manuals
-right to use the Trademarks and Trade names
-support from the head Office personnel
And i know all you canadians love your timmys eh!!
Something to think about.. for me its the driving force that gets me up every morning to work those long tedious hours.
Last edited by Gideon on Sat Apr 21, 2007 9:21 am; edited 1 time in total |
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okokok
Joined: 27 Aug 2006
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| Posted: Sat Apr 21, 2007 7:59 am Post subject: |
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| Please be advised that we are actively seeking franchise applications for the province of Quebec where we anticipate strong future growth. At the present time, we are not actively recruiting for new franchisees in any other province; however, we continue to accept applications to be kept on file for possible future opportunities. |
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Gideon
Joined: 24 Feb 2004
Location: Seoul
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| Posted: Sat Apr 21, 2007 8:08 am Post subject: |
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In the world of business it all comes down to contacts.. who u know!!
It is if your friend owns 6 of them  |
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blaseblasphemener
Joined: 01 Jun 2006
Location: There's a voice, keeps on calling me, down the road, that's where I'll always be
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| Posted: Sat Apr 21, 2007 4:57 pm Post subject: |
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I know the owners of the franchises in Brandon, Manitoba. They own the Canadian Tire as well. They bought one, and now have opened another Timmy's on the highway going through town. Those places are cash cows, period.
Considering a crappy, over-priced in a heated-market house in Vancouver, Calgary, or Toronto is going to cost you more than the whole franchise fee for a Tim's, I would say the $450,000 asking price is very reasonable. I would consider buying one for sure, if I wanted to open a business.
My folks said the one's in Fredricton were always lined up out the door, even though there are something like 17 T.Horton's there, and the population is not big.
Good luck with your purchase! |
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blynch
Joined: 25 Oct 2006
Location: UCLA
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| Posted: Sat Apr 21, 2007 5:17 pm Post subject: Re: Buying a Tim Hortons |
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| Gideon wrote: |
Good choice? Should I cash in all my saving and invest into a Tim Hortons franchise?
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Go for it |
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Young FRANKenstein
Joined: 02 Oct 2006
Location: Castle Frankenstein (that's FRONKensteen)
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| Posted: Sat Apr 21, 2007 5:42 pm Post subject: |
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| blaseblasphemener wrote: |
| I know the owners of the franchises in Brandon, Manitoba. They own the Canadian Tire as well. They bought one, and now have opened another Timmy's on the highway going through town. Those places are cash cows, period.! |
Well, with Tim's, when someone wishes to become a new franchisee and open a branch location, Head Office first goes to the NEAREST up-and-running location to the proposed new store and give first refusal to THAT owner. If he says yes, then the owner of that store gets the new store too, and the new franchisee gets nothing and must scout for a new location. If the owner says no, then the new franchisee gets the store he wanted and he's in business.
In Cambridge Ontario, all the Tim's are owned by the same guy. ANY time someone wishes to open a new one, he says "No you won't, I'll take that one too" and expands his "empire". He's a millionaire several times over. Why scout all the good locations when you can have someone else do the work for you, then just steal it out from under him? |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Sat Apr 21, 2007 6:08 pm Post subject: |
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| What's a "Tim Horton's"? |
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Gideon
Joined: 24 Feb 2004
Location: Seoul
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| Posted: Sun Apr 22, 2007 12:14 am Post subject: |
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Like i said before , it all comes down to who u know and who u rub shoulders with.. thats the business culture.. and a lot of them are like vultures.. lol
Business is business!! |
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Harpeau
Joined: 01 Feb 2003
Location: Coquitlam, BC
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| Posted: Sun Apr 22, 2007 1:02 am Post subject: |
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I remember a friend telling me that a small kiosk coffee shop at the bottom of a skyscrapper in HongKong was found to have traces of heroin or something in their coffee. People kept returning for more like it was going out of style.
I guess the rumor is that Tim Horton's coffee has something like 9 times more caffein than the normal cup does. Has anyone else heard this? |
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Corporal
Joined: 25 Jan 2003
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Mr. Pink
Joined: 21 Oct 2003
Location: China
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| Posted: Sun Apr 22, 2007 2:35 pm Post subject: |
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I would say it depends on the location.
Buying one near a university = a license to print money. Seriously, Canadians are addicted to Tim's. If I had the cash, it would rank up there with one of the best franchises in Canada to own. |
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huck
Joined: 19 Jan 2003
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Hollywoodaction
Joined: 02 Jul 2004
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| Posted: Sun Apr 22, 2007 7:21 pm Post subject: |
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| Young FRANKenstein wrote: |
| blaseblasphemener wrote: |
| I know the owners of the franchises in Brandon, Manitoba. They own the Canadian Tire as well. They bought one, and now have opened another Timmy's on the highway going through town. Those places are cash cows, period.! |
Well, with Tim's, when someone wishes to become a new franchisee and open a branch location, Head Office first goes to the NEAREST up-and-running location to the proposed new store and give first refusal to THAT owner. If he says yes, then the owner of that store gets the new store too, and the new franchisee gets nothing and must scout for a new location. If the owner says no, then the new franchisee gets the store he wanted and he's in business.
In Cambridge Ontario, all the Tim's are owned by the same guy. ANY time someone wishes to open a new one, he says "No you won't, I'll take that one too" and expands his "empire". He's a millionaire several times over. Why scout all the good locations when you can have someone else do the work for you, then just steal it out from under him? |
Same thing in Moncton. Last I heard, it had 19 Tim's, all owned by the same guy. |
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Hollywoodaction
Joined: 02 Jul 2004
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| Posted: Sun Apr 22, 2007 7:22 pm Post subject: |
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| Harpeau wrote: |
I remember a friend telling me that a small kiosk coffee shop at the bottom of a skyscrapper in HongKong was found to have traces of heroin or something in their coffee. People kept returning for more like it was going out of style.
I guess the rumor is that Tim Horton's coffee has something like 9 times more caffein than the normal cup does. Has anyone else heard this? |
China was cracking down on street vendors a couple of years ago. They found that quite a few of them laced their food with poppy seeds, the kind that grows into opium poppies. |
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Gideon
Joined: 24 Feb 2004
Location: Seoul
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| Posted: Sun Apr 22, 2007 7:38 pm Post subject: |
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I know the guy who owns 6 in Bathurst , NS.. hesraken in the cash. Even those who are unemployed can afford a cup of tims each day.
And those university tims makes a kill'n.
I am seriously considering a tims when i head back home. But even if its not a tims franchise, it will most likely be some kind of business venture i'll get into when i return to canada.
I never liked working for someone else.. kinda in the family business.. my parents were always self employed. |
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