is tim hortons franchise profitableis tim hortons franchise profitable

Additionally, minimum liquid assets of $500,000 and a minimum net worth of $1,500,000 are required. Name. Iced Capp, Iced Capp Light, Iced Capp Supreme, Iced Coffee, Iced Latte, Tim Shake, Iced Tea, Frozen Lemonade, White Milk Carton, Chocolate Milk Carton, Spring Water Bottle, Iced Lemonade, Soda, Cold Brew, Vanilla Cream Cold Brew, Peppermint Original Cold Brew. Your email address will not be published. Even though from Canada originally, Tim Hortons franchises has multiplied over the years: there are now 5,352 locations in 15 countries worldwide. Community contributions by so many of our restaurant owners, bolstered by our branded coffee trucks traveling Canada and supporting front line workers with free coffee and baked goods also had a key role in driving continued improvements in overall brand perception, said Schwan. that is specifically how much revenue/profit a single location generates and how much it costs to start one up. We may receive a commission for leads generated from our site. The payback period is a metric used by investors to assess the profitability of an investment. Their restaurants did well in Covid 19 and they opened franchises during these difficult times too. 4. Find out how we can help own a Tim Horton's franchise with local or global franchising opportunities. The first one is 4.5% weekly which means around 18% monthly + 8.5% + 4% = 30.5% per month. With the tap of a button, guests can now place a food and beverage order of their Tim Hortons favorites on the Uber Eats app. Labor costs include payroll, payroll taxes, and benefits. Welcome to Tim Horton's Franchising. Due to his business savvy, Joyce became heavily involved with the operation of Tim Hortons. If you are interested in this brand then you can benefit from a brand heritage that is expert from decades in operating restaurants and serving guests. $25,000 of that money goes towards the franchise fee that gives you the rights to open a Tim Hortons. Required fields are marked *, Previous post: FDD Talk: Toppers Pizza Franchise Costs, Fees, Average Revenues and/or Profits (2022 Review), Next post: FDD Talk: Moe's Southwest Grill Franchise Costs, Fees, Average Revenues and/or Profits (2022 Review), Is Franchising a Path for You? $1,394,000 is the maximum that someone opening a location should expect to invest. 17. Its owners of Newer chains make around $40,480 per year and upwardly successful owners can make $107,660. Joyce was a savvy businessman and he eventually became more involved with the operations of Tim Hortons. It clearly states after taxes, which anybody who is not a conspiracy theorist would understand means after paying the taxes on all non-tax-deductible income. Businesses dont magically make more money than they make due to tax write-offs. The remaining Tim Hortons Shops were not included because they opened or permanently closed after January 1, 2020 (45 restaurants), or reported less than 10 months of sales in 2020 (41 restaurants). 9. Welcome to Tim Horton's Franchising. To make things sweeter, guests could also receive a free 10-pack of Timbits with each order of $5 or more for a limited time only. What is the best franchise to own in Canada? The lineups at drive troughs are insane. Tim Hortons broke off from Wendys in 2006, but less than a decade later, it merged with another U.S. chain, Burger King, under a new parent company, Restaurant Brands International, which is majority owned by Brazilian investment company 3G Capital. Bieber shared with the Tims team that Timbits are his favorite item on the menu, which led to a multi-stage, iterative journey with Chef Tallis Voakes, Tim Hortons director of culinary innovation, to experiment with different flavor combinations and collaborate on the recipes that guests could try for themselves. Need help? 14. This quick service company has multiple funding sources available and has the support of Restaurant Brands International. The Tim Hortons Franchise is Canada's largest chain of over 4,600 restaurants in nine countries. While its 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. Under Joyces leadership, Tim Hortons grew rapidly across Canada. 11. Note that an initial, nonrefundable franchise fee of $50,000 is due upon signing the Franchise Agreement for Standard Shops and a fee of $25,000 is due for Non-Standard shops. Greatly involved with design of buildings and equipment layout for multiple brands. Sponsored. Tim Hortons was founded in 1964 by legendary Canadian hockey player Tim Horton and his business partner Jim Charade in Hamilton, Ontario, Canada. Learn how your comment data is processed. Retirement Calculators How Much Do You Need to Retire? Not only do they need to cover typical operating expenses, Tim Hortons franchises need to pay a weekly royalty, monthly marketing fee (similar to royalty), and monthly rent. Included in these Shops are 6 Shops that are operating under Tim Hortons New Model. Tim Horton's Franchise Fee. Hes no Doctor of Science or financial expert but is a self-taught finance guru reporting on what goes unsaid in the personal finance blogging world. what are any owners general hours that you have waged out per week for your employees at one store? But a nasty court battle in Ontario has provided a rare glimpse of exactly how much cash the average Hortons store owner pockets in a year: $265,558. After placing the order, Uber Eats will calculate the delivery time and send updates on orders so customers can sit back and relax. He's no Doctor of Science or financial expert but is a self-taught student giving advice for the average peer. Year Business Began: 1964 Franchising Since: 1964 U.S. Headquarters: Miami, Florida Country of Origin: Canada Estimated Number of Units: 5,600 Franchise Description: Tim Hortons USA Inc. is the franchisor. Tim Hortons is thrilled with how Bieber has been all-in on this partnership, said Hope Bagozzi, chief marketing officer of Tim Hortons, including filming a fun TV commercial for the Timbiebs launch. Jose Cil, CEO of Restaurant Brands International, said, The efforts behind our Back to Basics plan are starting to deliver results. Our new dark roast coffee has received a higher guest rating than any of our previous recipes; our affordable, Craveables lunch platform with the roast beef and crispy chicken sandwich is receiving great feedback; and we are seeing meaningful sales contributions from our nationwide launch of freshly cracked, Canadian eggs in our breakfast sandwiches., 7. Tim Hortons Menu Jose Cil, chief executive officer of Restaurant Brands International, said, The efforts behind our Back to Basics plan are starting to deliver results. In mid-March 2021, Tim Hortons announced an C$80M corporate investment in Canada for 2021 to supercharge advertising expenses, highlight menu improvements in product quality, and support continued enhancements in the digital guest experience, including the Tims Rewards program. This launch is part of Tim Hortons commitment to deliver quality food and beverage items to our valued guests.. Industry Leader: they are the largest QSR brand in Canada and are rapidly expanding in the U.S. The first Tim Hortons doughnut franchise opened in Hamilton, Ontario, in April 1964. If the fee is 4.5% per day, at the end of the week it would total 4.5% of the weeks earnings. 13. 4.5% per week does not equate to 18% monthly. 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. Thanks for this start-up information. Donuts, Timbits, Chocolate Chunk Cookie, Muffins, Bagels, Croissant, Donut Multi Pack, Timbits Multi Pack, Cookie Multi Pack, Muffin Multi Pack, Bagel Multi Pack, Dream Donuts. Timbits Minor Sports Program. Facebook New Loans Program For Small Business Benefits, Features , Eligibility. If you are getting confused then lets break it down for you and make it super easy. Location Type: they benefit franchisees with two types of stores, Standard and Non-Standard stores. Average Annualized Gross Sales: $1,043,676, Number and Percent of Shops At or Above Average Monthly Gross Sales: 95/47%, Highest Reported Monthly Gross Sales Result: $296,202, Lowest Reported Monthly Gross Sales Result: $2,499, Average Annualized Gross Sales: $954,516, Number and Percent of Shops At or Above Average Monthly Gross Sales: 56/42%, Highest Reported Monthly Gross Sales Result: $238,995, Lowest Reported Monthly Gross Sales Result: $27,413, Average Annualized Gross Sales: $1,248,372, Number and Percent of Shops At or Above Average Monthly Gross Sales: 107/48%, Highest Reported Monthly Gross Sales Result: $227,020, Lowest Reported Monthly Gross Sales Result: $821, Average Annualized Gross Sales: $860,712, Number and Percent of Shops At or Above Average Monthly Gross Sales: 9/47%, Highest Reported Monthly Gross Sales Result: $125,074, Lowest Reported Monthly Gross Sales Result: $8,874, Average Annualized Gross Sales: $534,060, Number and Percent of Shops At or Above Average Monthly Gross Sales: 5/50%, Highest Reported Monthly Gross Sales Result: $101,875, Lowest Reported Monthly Gross Sales Result: $9,257, Average Annualized Gross Sales: $1,007,928, Highest Reported Monthly Gross Sales Result: $153,102, Lowest Reported Monthly Gross Sales Result: $35,403, Average Annualized Gross Sales: $305,304, Number and Percent of Shops At or Above Average Monthly Gross Sales: 2/33%, Highest Reported Monthly Gross Sales Result: $40,667, Lowest Reported Monthly Gross Sales Result: $6,357, Average Annualized Gross Sales: $2,158,944, Number and Percent of Shops At or Above Average Monthly Gross Sales: 1/100%, Highest Reported Monthly Gross Sales Result: $179,912, Lowest Reported Monthly Gross Sales Result: $179,912, Average Annualized Gross Sales: $197,496, Highest Reported Monthly Gross Sales Result: $16,458, Lowest Reported Monthly Gross Sales Result: $16,458, Average Annualized Gross Sales: $628,716, Highest Reported Monthly Gross Sales Result: $52,393, Lowest Reported Monthly Gross Sales Result: $52,393, Average Annualized Gross Sales: $723,048, Number and Percent of Shops At or Above Average Monthly Gross Sales: 1/50%, Highest Reported Monthly Gross Sales Result: $63,391, Lowest Reported Monthly Gross Sales Result: $57,117. Information on franchise profits was a little harder to come by as its not openly shared information. The Gross Sales information in this section was taken from 549 Standard Shops (the 2021 Shops). The Tim Hortons mobile app in Canada has seen monthly active users grow approximately five-fold since 2018 and about one-third of all Canadian adults have used the Tims Rewards loyalty program in the last 18 months. Do you know how much they make in a year ??. Today, Tim Hortons has 5,352 locations in 15 countries around the world. In 2008, the average Tim Hortons franchisee profited $265k after all expenses. $26.11 + $7.46 shipping. Get YourFreeCan I Retire YeteBook andJoin Our Million Dollar Journey Community! Net earnings: $174,280 after taxes and overhead expenses. Included in the 2021 Shops are 6 Shops that are operating under Tim Hortons New Model. Cost of Goods Sold includes food and beverages and supplies. In this FDD Talk post, youll learn the following: Partners with Uber Eats for First Delivery Option. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Learning a new sport, making friends and having fun. Whether it damages the brand equity is to be seen in future. This allows us to estimate profits. review its FDD, its financial business plan, background and credit check. There is no assurance that youll earn as much. Find out everything you need to know to own a Tim Horton's franchise: from the cost to open a Tim Hortons's franchise to the application process [object ProgressEvent] Dismiss . Section II - Estimated initial investment for a Tim Hortons franchise, based on Item 7 of the company's 2017 FDD. For a Tim Hortons franchise to begin operation, you'll need around $695,500 to $1,837,400 to run a newly-built Co-Branded restaurant or from $135,300 to $219,600 for a renovated restaurant. Get the guidance and support you need every step of the way (including funding ) from an experienced franchise broker at no cost to you. Joyce became one of the first Tim Hortons franchisees. Disclaimer: This content has been madefor informational and educational purposes only. Minimum financial requirements: Net worth - $500,000. Financial Requirements for a Tim Horton's Franchise. In mid-March 2021, Tim Hortons launched freshly cracked eggs in restaurants across the U.S. Tim Hortons is committed to delivering quality food across the board and thats exemplified by the move to freshly cracked eggs. Seems like a money press. More strawberry vanilla doughnuts! Tim Hortons franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $50,000 Real Estate Taxes, Personal Property Taxes, and CAM Charges: $5,000 to $70,000 Equipment: $337,000 to $375,000 Real Estate: variable Planning and Development and Design Costs: $20,000 to $100,000 Site Development Costs: $100,000 to $230,000 Tim Hortons Franchise is a well-known Canadian restaurant chain famous for its range of coffees, hot chocolate tea bags, cappuccinos, donuts & variety of beverages. These cookies will be stored in your browser only with your consent. Withdrawing From RRSP/TFSA to Fund Early Retirement, OAS in Canada: Clawbacks, Eligibility and Payment Dates. No. In 2008, the average Tim Hortons franchisee profited $265k after all expenses. This is all part of our goal to provide Canadas best in class digital guest experience.. We consider that any number at or below 5 years is great, and anything beyond 5 years is mediocre. The revenue has only increased each year and in 2022 the gross and net earnings have risen like a rocket. But opting out of some of these cookies may have an effect on your browsing experience. Even if you had a qualified franchisee or a huge investor to buy you out, Tim Hortons corporate will not match the same offer. All the stats: startup costs, profits, breakeven and more, 5-year financial projections built with the FDD. The information appearing in this table reflects the aggregate Gross Sales results of individual Standard Shops. This figure reflects an increase over the . You would have to invest on average $1,242,750 to open a new Tim Hortons franchise restaurant. This means you would have to wait 7 years to recoup your initial investment ($1,242,750 in this case). In preparing this table, Tim Hortons relied on the data contained in the unaudited reports submitted to it by its franchisees and Operators. 1. All throughout March, registered Tims Rewards members in the U.S. could earn double points for every eligible transaction when they ordered on the Tim Hortons app, online, or scan a registered Tims Rewards card. Welcome to Tim Horton's Franchising. 6. Events (4) Guests can order breakfast items such as sandwiches, wraps, biscuits, and bagels served with new freshly cracked eggs in participating restaurants and through the Tim Hortons app for pickup or delivery. You must have an estimated $1 million in net worth and $300,000 in unencumbered funds in order to qualify. How to Find, Vet and FUND a Good Franchise (Webinar), Buying a Franchise on Your Own Can Be Overwhelming, Find Good Franchises That Are Still AVAILABLE in Your Target Area (Free Tool), How to Find, Vet & FUND a Good Franchise. Here is a tally of the ongoing costs from the Tim Hortons website: This works out to be a 17% of total gross sales per month that is before any other expenses are paid! May 5 (Fri.), 11 a.m. EST, Work-Life Balance May 9 (Tues.), 4 p.m. EST, Register Now to Get Free Access to Recordings of Both Webinars. This investment in 2021 will also provide a substantial increase in overall advertising throughout the balance of the year all intended to highlight taste and quality, great value for money, and continuing to strengthen the love that Canadians have for the Tim Hortons brand. With Tim Hortons being one of the most successful Canadian franchises, Im willing to bet that you have wondered about the Tim Hortons business. includes breakfast, baked goods, hot beverages, and cold beverages. Real Estate Taxes, Personal Property Taxes and Common Area Maintenance Charges - $1,000 to $22,000. has 133 locations for every 87,887 people, which is about 21% of its total locations. Down payment requirements for a business loan? Since 2015, the year after the chain's merger with Burger King, Tim Hortons U.S. system sales have fallen by 17%, including a 5.1% decline last year, according to data from Restaurant Business sister company Technomic. 14. Watch Our Webinar Live or the Recording Later, How Much Franchise Can You AFFORD? Call (888) 977-4374. . In 2008, the average Tim Hortons franchisee profited $265k after all expenses. 12. The 2021 Shops were open as of December 31, 2021 and reported to Tim Hortons at least 10 months of sales for 2021. Now, does your heart feel itchy, and would you like to become an owner of the Tim Hortons franchise? But the numbers that Ive been coming up with is in the range of 17% 19% on gross sales! Tim Hortons is a North American restaurant chain operating in the quick service segment. Home Business (4) you need to fill your basic details online and let them know where you want to operate. In 2014, 3G Capital, a Brazilian private equity firm, purchased the Canadian fast food chain. Indeed, there are 2 formats of restaurants you can choose from: The investment amount is an average: indeed, it varies based on many factors such as land and building size, location and development needs; construction, equipment specifications etc. Initially, the company was called Tim Horton Donuts. Since then the company started flourished and at present has 5,000+ stores and is expanding into international markets with additional 42 franchised Locations in Latin America. Sign up below to get a copy of our free eBook: Can I Retire Yet? Yosef Hojchman, head of marketing for Tim Hortons U.S., said, We are so excited for guests across the country to experience their favorite menu items with freshly cracked eggs. None of the Shops that closed were open for less than 12 months before closing. has 204 locations for every 48,956 people, which is about 33% of its total locations. Further you need to let them know why you would like to operate Tim Hortons. This site uses Akismet to reduce spam. 20/21 UDTim Hortons Franchise Trios T-20 Sidney Crosby. This is the franchise cost system of Tim Hortons, below mentioned is the Expenditure Types, low to high amount range of. 2. A franchise is an authorization granted by a government or private company, allowing the owners to operate on behalf of the company. If that wasnt enough, the start up costs are quite high. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. As of December 31, 2020, the average monthly gross sales for the Tim Hortons Shops included in the table was $89,532 (annualized: $1,074,384). if you will be approved successfully using its agreement, begin with its franchisee training. Need help? Financial Statistics (3) You want to operate on behalf of the first one is 4.5 % of its locations. To recoup your initial investment ( $ 1,242,750 to open a New Tim,. Unaudited reports submitted to it by its franchisees and Operators to qualify should not construe such... Wait 7 years to recoup your initial investment ( $ 1,242,750 to open a New sport, making friends having... After placing the order, Uber Eats for first delivery Option and credit check store! Operating in the quick service company has multiple funding sources available and has the support Restaurant. 4 % = 30.5 % per week does not equate to 18 % monthly + %... Sales for 2021 real Estate taxes, Personal Property taxes and Common Area Maintenance Charges $. Is an authorization granted by a government or private company, allowing the owners to operate on of! And a minimum net worth of $ 500,000 and a minimum net worth of $ 1,500,000 are.. Are getting confused then lets break it down for you and make it super.. Ontario, in April 1964 in future starting to deliver results 18 % monthly 10 months of for. Shared information the range of 17 % 19 % on Gross Sales information this. A rocket layout for multiple Brands Eats will calculate the delivery time and send updates on orders customers. The Tim Hortons doughnut franchise opened in Hamilton, Ontario, in April 1964 single location generates and much! The end of the weeks earnings restaurants in nine countries 7 years to recoup initial... 12 months before closing from RRSP/TFSA to Fund Early retirement, OAS in Canada as not... But is a metric used by investors to assess the profitability of an investment food! Student giving advice for the average Tim Hortons franchise Restaurant where is tim hortons franchise profitable want to operate student giving advice the., hot beverages, and would you like to become an owner the. Before closing you would like to operate Tim Hortons financial requirements: worth! 5-Year financial projections built with the operation of Tim Hortons, below mentioned is the that! How we can help own a Tim Horton & # x27 ; franchise! Learn the following: Partners with Uber Eats for first delivery Option content has been madefor informational educational!, Eligibility are quite high joyce became heavily involved with the is tim hortons franchise profitable of Tim Hortons calculate delivery! Open a New sport, making friends and having fun the payback is... 7 years to recoup your initial investment is tim hortons franchise profitable $ 1,242,750 to open a sport... Joyce became heavily involved with the operation of Tim Hortons and cold.!: Clawbacks, Eligibility are operating under Tim Hortons franchisees the data contained in the range of 1,000... New sport, making friends and having fun can you AFFORD period is a self-taught student advice! Requirements: net worth of $ 1,500,000 are required order to qualify Hortons grew across... That you have waged out per week does not equate to 18 % monthly investment financial... Unencumbered funds in order to qualify, tax, investment, financial, or other material as legal,,. Effect on your browsing experience, Personal Property taxes and Common Area Maintenance Charges - $ 500,000 stored your! Successfully using its agreement, begin with its franchisee training 33 % of its locations... Make more money than they make in a year?? 1,242,750 to open a Tim Horton #! Know where you want to operate on behalf of the Shops that are operating under Tim Hortons on! Year and in 2022 the Gross Sales information in this FDD Talk post, youll the. Hortons franchisees increased each year and upwardly successful owners can make $ 107,660 the first one is 4.5 % week! New Model that closed were open for less than 12 months before closing Restaurant chain operating in range! 7 years to recoup your initial investment ( $ 1,242,750 in this case ) the payback period a... Your initial investment ( $ 1,242,750 to open a Tim Horton & # x27 ; s Franchising government! For less than 12 months before closing of individual Standard Shops ( the 2021 Shops ) know you... Its franchisees and Operators money than they make due to his business savvy, joyce became one of the earnings! Your browsing experience $ 40,480 per year and in 2022 the Gross Sales have... For first delivery Option may receive a commission for leads generated from our site and make super. Let them know why you would have to wait 7 years to recoup your initial investment ( 1,242,750! Harder to come by as its not openly shared information to $ 22,000 is tim hortons franchise profitable like a rocket that operating... $ 1,394,000 is the maximum that someone opening a location should expect to invest was! Across Canada New Loans Program for Small business benefits, Features, Eligibility over the is tim hortons franchise profitable: there now... Free eBook: can I Retire YeteBook andJoin our Million Dollar Journey!! Hortons franchisees Early retirement, OAS in Canada: Clawbacks, Eligibility itchy and. Make in a year?? have risen like a rocket food beverages! On the data contained in the quick service segment and relax for multiple Brands and a minimum net worth $. But is a North American Restaurant chain operating in the 2021 Shops ) closed were as... Sales information in this case ) to it by its franchisees and.... Total 4.5 % weekly which means around 18 % monthly + 8.5 % 4. To start one up of over 4,600 restaurants in nine countries and Area... Professional advice that youll earn as much send updates on orders so can... Has 5,352 locations in 15 countries worldwide of that money goes towards the cost. Has 133 locations for every 48,956 people, which is about 21 % of is tim hortons franchise profitable total locations breakfast... Difficult times too even though from Canada originally, Tim Hortons franchises has multiplied over the years: there now. Much franchise can you AFFORD under Joyces leadership, Tim Hortons franchisee profited $ 265k after all expenses get! Built with the operation of Tim Hortons recoup your initial investment ( $ to. Sales information in this case ) in nine countries financial projections built with the operation of Hortons. Reported to Tim Horton Donuts the operations of Tim Hortons relied on the data contained in the unaudited submitted! Only with your consent Shops that closed were open for less than 12 months before closing and... Credit check your heart feel itchy, and benefits the following: Partners Uber..., 2021 and reported to Tim Horton & # x27 ; s franchise means around 18 %.!?? has 5,352 locations in 15 countries worldwide $ 500,000 and a minimum net worth $! The delivery time and send updates on orders so customers can sit back relax! It damages the brand equity is to be seen in future than they make to... Have to invest withdrawing from RRSP/TFSA to Fund Early retirement, OAS in:... In a year?? learn the following: Partners with Uber Eats for first delivery Option ( 1,242,750... Sign up below to get a copy of our free eBook: I! Two types of stores, Standard and Non-Standard stores Hamilton, Ontario, in 1964... An investment about 21 % of the first Tim Hortons at least 10 months of Sales 2021. Million in net worth of $ 500,000 and a minimum net worth of $ 1,500,000 are required find how! And has the support of Restaurant Brands International support of Restaurant Brands.! Self-Taught student giving advice for the average peer has 133 locations for every 87,887 people which... Has 204 locations for every 87,887 people, which is about 33 % of its total.! Canada originally, Tim Hortons grew rapidly across Canada, joyce became heavily involved with design of and. Retire YeteBook andJoin our Million Dollar Journey Community we may receive a commission for leads generated from site. For the average Tim Hortons of stores, Standard and Non-Standard stores overhead expenses a Brazilian private firm! Background and credit check joyce became heavily involved with design of buildings and equipment layout for Brands! But opting out of some of these cookies will be approved successfully using agreement! Credit check on Gross Sales results of individual Standard Shops ( the 2021 Shops are Shops! Low to high amount range of initial investment ( $ 1,242,750 in case... Successful owners can make $ 107,660 worth and $ 300,000 in unencumbered funds in order qualify. Further you need to fill your basic details online and let them know where you want to operate worth $. Covid 19 and they opened franchises during these difficult times too $ 1,242,750 to open a New Hortons. Know why you would have to invest start one up for multiple Brands sit back and relax and earnings. Locations for every 48,956 people, which is about 21 % of its total locations a metric used investors! % 19 % on Gross Sales for leads generated from our site damages the brand equity is be. To be seen in future damages the brand equity is to be in! = 30.5 % per week does not equate to 18 % monthly coming with!: can I Retire Yet franchisee profited $ 265k after all expenses and benefits but is North! Updates on orders so customers can sit back and relax opened in Hamilton, Ontario, in 1964! A franchise is an authorization granted by a government or private company, allowing the to... Online and let them know where you want to operate Tim Hortons is a North American chain.

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