how much tim hortons franchise cost

How much does it cost to buy Tim Hortons?

How much does it cost to buy a Tim Hortons? $60,000 is required in available capital if you want to become a franchisee. $60,000 is the minimum that someone opening a location should expect to invest. The high end of the total investment required to open a franchise is $665,700.

How much does Tim Hortons pay in Ontario?

Tell us about you and get an estimated calculation of how much you should be earning and insight into your career options. How much does Tim Hortons in Toronto, ON pay? Average Tim Hortons hourly pay ranges from approximately $11.80 per hour for Team Trainer to $20.62 per hour for Phone Operator.

Is there a Tim Hortons Senior Discount?

When placing an order at your nearest Tim Hortons, you can ask the cashier if there is a senior discount button. If there is, you should receive 10% off your order. Each franchise can set the age requirement for its senior discount; proof of age is not generally required.

How much does the CEO of Tim Hortons make?

Tims said in a U.S. securities filing that Mr. House will receive a raise to $750,000 a year, retroactive to his May 24 start date; he had previously been earning $300,000 annually.

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How much does it cost to open a Tim Hortons franchise in Canada?

We provide estimated franchise costs for some countries: - In the United States, the total investment to start the Tim Hortons Restaurant is around $680,900 to $1,906,300. - In Canadian currency, the investment comes around Can$871,600 to Can$2,440,300.

How profitable is a Tim Hortons?

As shown above, the average Tim Hortons has $1,054,296 in Gross Sales in 2021. We will take the midpoint investment of a Standard shop, which amounts to $1,242,750. Based on this midpoint investment, A 10% profit margin would yield estimated annual profits of $105,430.

Is it good to invest in Tim Hortons?

So at the end of the day, the decision to buy Tim Hortons depends on your priorities. If you're looking for a strong, stable company you can count on, then Tims is a great option. But if you're looking for something with more upside that could result in spectacular gains, then you should look elsewhere.

Who owns Tim Hortons?

Wendy'sRestaurant Brands InternationalTim Hortons/Parent organizations

How much do franchise owners make Canada?

The national average salary for a Franchise Owner is $38,733 in Canada....Franchise Owner Salaries.Job TitleSalaryCollege Pro Franchise Owner salaries - 10 salaries reported$38,581/yr19 more rows

How much does it cost to open a Tim Hortons in Ontario?

The estimated opening cost for a new Tim Hortons shop, including for the initial set up and first three months of operation, ranges between $94,000 and $2,162,500 USD, which is approximately $120,667 to $2,776,001 CAD (as of July 2022 exchange rates).

How many Tim Hortons are there in Canada?

How many Tim Hortons in Canada? There are over 4300 Tim Hortons locations in Canada out of 4,932 worldwide. Most other locations are in the United States, but the company plans to open 1500 new locations in China over the next decade.

How much money do you need to open a Tim Hortons?

In order to open a Tim Hortons restaurant franchise, you must have a net worth of more than $700,000. Appreciate the investment required for a franchise. You will need to consider real estate costs, the cost of equipment and signs, the costs of licenses and permits, the cost of uniforms, the cost of insurance, etc.

How many Tim Hortons are there in Canada?

Tim Hortons Franchise is Canada’s largest chain of 4,613 restaurants in nine countries. Its menu includes coffee and tea, hot and cold beverages, snacks and donuts. Hortons restaurant franchise provides exciting opportunities for running a successful business. Buying a Tim Hortons franchise, an entrepreneur receives the assistance of the franchisor, a package of trainings, franchise cost and profit balance tips and proven marketing and management approaches. How to open one of Tim Hortons franchises available for sale? Check out our list of Tim Hortons franchise requirements and investment information which includes all possible franchise fees, and choose the format that suits you.

How much does a Tim Hortons Franchise make?

From my digging around, I’ve read that average franchisees (in 2006) made around 16%-20% profit after all expenses but without real numbers for backup. However, the big court case between franchisees and the parent company in 2011 made some of the numbers public.

How much did Tim Hortons make in 2008?

In 2008, the average Tim Hortons franchisee profited $265k after all expenses. We don’t know the actual average revenue numbers for 2008 to earn the $265k, but they disclose that between 2002 and 2008, the average franchise earned (before interest and taxes) $1.5M which fits franchisee profit range of 16%-20%.

How long does a Tim Hortons opening crew last?

a store opening crew to assist in the opening of a Tim Hortons restaurant (for a maximum period of two weeks)

How much of a franchise cost must be unencumbered?

At least $144,000 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.

Is Tim Hortons like a money printing machine?

While it’s apparent that owning a Tim Hortons is like having a money printing machine, most do not realize the costs involved, and how much an owner really takes home. When doing my research on the costs, I was surprised with how much the parent company takes off the top.

Is Tim Hortons a Canadian company?

With Tim Hortons being one of the most successful Canadian franchises, I’m willing to bet that you have wondered about the Tim Hortons business. that is specifically how much revenue/profit a single location generates and how much it costs to start one up.

Who is FT in Million Dollar Journey?

FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.

What is included in a Tim Hortons remodel?

For remodel Tim Hortons Shops, these costs include modifications to the existing exterior structure, systems, and finishes, and interior finishes to satisfy Tim Hortons’ current design standard.

Who must pay franchised restaurant expenses?

If you own or lease the Franchised Restaurant premises from a third party, you must pay these expenses directly to the insurer or landlord pursuant to your lease.

Do you have to attend Tim Hortons training?

You must attend and satisfactorily complete Tim Hortons’ initial training program before you may open your Franchised Restaurant. In exceptional circumstances, Tim Hortons may waive this training for certain franchisees based upon their individual circumstances and experience level.

How many square feet are in a standard shop?

A Standard Shop typically consists of approximately 500 to 3,000 square feet. The recommended size for a Standard Shop is one-half acre to 1.5 acres. A Non-Standard Shop will vary in size depending on the type of Non-Standard Shop and location.

Does Tim Hortons pay insurance?

If you lease or sublease your Franchised Restaurant premises from Tim Hortons or one of its affiliates, you may be required to pay these insurance expenses to it (i.e. Tim Hortons or one of its affiliates), and it will remit these payments to the insurer or landlord.

Background

The Tim Hortons franchise is a Canadian restaurant chain known for its coffee, doughnuts and connection to Canada’s national identity. Its namesake, Toronto Maple Leaf's defenseman Tim Horton, founded the business along with Montréal businessman Jim Charade. The first Tim Hortons doughnut franchise was opened in Hamilton, Ontario, in April 1964.

Support and Training Offered By Tim Hortons

New restaurant owners undergo seven week training program at the Tim Hortons University, which is located in Oakville, Ontario, at the offices of The TDL Group. The facility includes classrooms and a fully operational restaurant, which provides trainees with intensive hands-on experience.

Franchises Similar to Tim Hortons

The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.

How much money does a Tim Horton’s Franchisee Make?

Therefore, the average franchisee likely makes around $180,000 in EBITDA.

Who owns Tim Horton's coffee?

The company has over 700 locations today and is owned by Restaurant Brands International along with Popeyes and Burger King.

How much is the royalty fee for franchising?

The ongoing royalty fee paid to the franchisor is between 4.5% and 6% of gross sales. This amount is due on Thursday of each week based on the prior week’s gross sales. Franchisees may pay reduced royalties based on various factors. Here is how all these costs break down:

Where is Tim Horton's coffee located?

Tim Horton’s is a popular Canadian franchise, serving up coffee and donuts since 1964 in Hamilton, Ontario. Founded by Canadian Hockey legend Tim Horton and Jim Charade, the two came up with the concept after a failed venture in hamburger restaurants.

Is Tim Horton's a good investment?

To determine whether this is a good investment, you must look at your other investment opportunities. If you don’t have the opportunity to invest elsewhere at greater than 12% then Tim Horton’s may be a good investment opportunity for you.