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 $50,000, 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 every 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?
We consider any proposed partnership and evaluate 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?
We do not rank applicants in order in which they apply. Therefore, 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. 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.
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.
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.
If you would like to submit your interest proactively, please submit a pre-qualification questionnaire. You will receive an automated response acknowledging receipt of your interest.
How secure is my personal information?
All information is kept confidential within the Franchise department of The TDL Group Corp. 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?
We are constantly evaluating new markets and for competitive reasons, are unable to divulge if we are interested in a specific location. As a result, we are unable to respond to individual requests to review a specific real estate site.
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.