Franchising Program
Franchise Cost: $430,000 to $480,000* plus all applicable taxes (this includes a drive-thru)
Additional Working Capital: (start-up costs) $50,000 (unencumbered)
At least $144,000 of the franchise cost must be unencumbered (cash or liquid assets) in addition to the $50,000 working capital which must also be unencumbered. The remaining amount may be financed through various lending programs offered by the chartered banks, providing, of course, the candidate meets the normal borrowing requirements.
The specific cost of a Tim Hortons license will depend upon the Tim Hortons building size and the required furnishings and equipment to be installed. The cost of a Tim Hortons license may exceed $480,000 in certain locations due to higher development costs.
Included in the cost of a franchise is the following:
- all equipment, furniture, display equipment and signage
- 8 week training program in the Oakville Training Centre
- a store opening crew to assist the opening of the Tim Hortons store (for a maximum period of 2 weeks)
- the use of all Tim Hortons Manuals
- right to use trademarks and trade names
- support from Head Office personnel who have vast knowledge in the food service business.
Not included in the cost of the franchise:
- The building
- The property on which the restaurant is built
- 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.
The Real Estate and Development Department approves and secures all locations upon which Tim Hortons stores are built, whether they are leased or purchased. Therefore, an applicant is not expected to bring forward a site and/or concern themselves with the development of such. Once the site is secured, the Construction department begins the process of building the store.
* Subject to change without notice.