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About Tim Hortons

Tim Hortons

Tim Hortons Inc. (known internationally as Tim Horton's Cafe and Bake Shop) is a Canadian multinational fast casual restaurant known for its coffee and doughnuts. It is also Canada's largest fast food service; at the end of 2013, it had 3,588 restaurants in Canada, 859 in the United States and 38 in the Persian Gulf region. It was founded in 1964 in Hamilton, Ontario, by Canadian hockey player Tim Horton and Jim Charade, after an initial venture in hamburger restaurants. In 1967, Horton partnered with investor Ron Joyce, who assumed control over operations after Tim Horton died in 1974, and expanded the chain into a multi-million dollar franchise.

History

Tim Horton and Ron Joyce
Tim Hortons logo as used in the mid-1990s, and still the chain's most common outdoor sign.
A common road sign bearing the logo above in Stratford, Ontario
A Tim Hortons in South Portland, Maine

The chain's first store opened in 1964 in Hamilton, Ontario, under the name "Tim Horton Donuts"; the name was later abbreviated to "Tim Horton's" and then changed to "Tim Hortons" without the possessive apostrophe. The business was founded by Miles G."Tim" Horton, who played in the National Hockey League from 1949 until his death in a car accident in 1974.

Soon after Horton opened the store, he met Ron Joyce, a former Hamilton police constable. In 1965, Joyce took over the fledgling Tim Horton Donut Shop on Ottawa Street North in Hamilton. By 1967, after he had opened up two more stores, he and Tim Horton became full partners in the business. Upon Horton's death in 1974, Joyce bought out the Horton family's shares for $1 million and took over as sole owner of the existing chain of forty stores. Joyce expanded the chain quickly and aggressively in geography and in product selection, opening the 500th store in 1991.

Merger with Wendy's

A Tim Hortons/Wendy's sign in Milton, Ontario

In 1992, the owner of all Tim Hortons and Wendy's Restaurants in Prince Edward Island, Daniel P. Murphy, decided to open new franchise outlets for both brands in the same building in the town of Montague. Murphy invited Joyce and Wendy's chairman Dave Thomas to the grand opening of the "combo store", where the two executives met for the first time and immediately established a rapport.

Regaining independence

A Tim Hortons store in New York City.

Under pressure from rival restaurateur Nelson Peltz, in late 2005, Wendy's announced it would sell between 15% and 18% of the Tim Hortons operations in an initial public offering, which was completed on 24 March 2006, and subsequently said it would spin off to shareholders its remaining interest by the end of 2006.Repatriation

On 29 June 2009, Tim Hortons Inc. announced that, pending shareholder approval, the chain's operations would be reorganized under a new publicly traded company, also named "Tim Hortons Inc.", incorporated under the Canada Business Corporations Act. The change was being made primarily for tax purposes.

Locations

Tim Hortons was originally concentrated in Ontario as well as in Atlantic Canada. In recent years, however, the chain has greatly expanded its presence in Quebec and western Canada.

Tim Hortons' international presence includes outlets in the United States and one that was on a military base outside Kandahar, Afghanistan,although this latter outlet was principally intended for Canadian Armed Forces and allied military personnel.

Northeastern US decline

In November 2010, Tim Hortons announced it was closing 36 stores in the northeastern United States due to high competition with New England based Dunkin' Donuts and Au Bon Pain. The stores, which made less than half the average company per-store sales, were concentrated heavily in the Providence, Rhode Island, and Hartford, Connecticut, areas. In the announcement, the chain stated that it will concentrate its efforts on its core markets such as western Canada.

Middle Eastern expansion

In 2011 Tim Hortons began expansion into the Middle East as part of a plan to expand its presence outside of North America. As of December 2013 it has 19 stores in the United Arab Emirates and two in Oman. It plans to open up to 120 stores over the next five years in the Persian Gulf area, with a focus on Qatar, Bahrain, Kuwait, Oman, and the United Arab Emirates.
Future expansion plans

In December 2011 Tim Hortons opened its 4000th restaurant. In 2012, Tim Hortons began advertising in the Youngstown, Ohio area in anticipation of an eventual expansion into the Mahoning Valley. The closest location at the time was in Calcutta, Ohio, about 50 miles south of Youngstown. The chain entered the area in July 2012 with the opening of a location in Hermitage, Pennsylvania.

Partnerships

Partnership with Cold Stone Creamery

The parent company of Cold Stone Creamery, Kahala, announced in February 2009 that it had reached an agreement with Tim Hortons to open up to 100 co-branded stores in the United States after successfully testing two locations in Rhode Island. The most notable co-branded store opened in August 2009 when Tim Hortons moved into three Cold Stone Creamery locations in New York City, including its flagship Times Square location.

Tim Hortons and the Canadian military
Soldiers at the Tim Hortons in Kandahar

Tim Hortons has outlets located on at least seven Canadian Forces Bases.[66] TDL Group announced in March 2006, in response to a request by Chief of the Defence Staff, General Rick Hillier, its commitment to open a franchised location at the Canadian Forces operations base in Kandahar, Afghanistan. The new Kandahar location opened on 1 July 2006, in a 40-foot (12 m) trailer on the military base.

Menu

A drive thru only Tim Hortons location in Moncton, New Brunswick

Tim Hortons' first stores offered only two products ā€“ coffee and doughnuts.Aside from its coffee, tea, hot chocolate, and doughnuts, the Tim Hortons menu now contains a number of other baked goods, such as doughnut holes (branded as Timbits), muffins, croissants, tea biscuits, cookies, rolls, danishes, and more recently bagels ā€“ of which Tim Hortons sells one out of every two in the Canadian food service industry.Take-home cakes are offered in some locations.

Advertising and promotion

Tim Hortons advertising on the field at BC Place during the 2005 Grey Cup game

Canadian Business magazine has twice named Tim Hortons as the best-managed brand in Canada (in 2004 and 2005.

A Canadian cultural fixture

The ubiquity of Tim Hortons, through the wide expansion of its outlets, makes it a prominent feature of Canadian life. Tim Hortons' prevalence in the coffee and doughnut market has led to its branding as a Canadian cultural icon. The media routinely refer to its iconic status, despite being relatively recent development; there were only a few outlets before the chain's expansion in the late 1990s and 2000s.

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