What you should know about Tim Horton Franchises
The franchising business has claimed the pride of place as one of the most preferred entrepreneurship opportunities. In fact, this line of business has been so revolutionary to the point that many people have been ditching white collar jobs when an opportunity to engage in the business has availed itself. The revolutionary effect has seen many sectors of the business world adopt the same strategy of doing business. You will be very likely to find franchises in each and every corner selling all manner of goods and services. These range from automobile repair services, dry cleaning to carpet cleaning. Products would also range from candies, chocolates, hats, shoes, jewellery, fast foods, coffee etc. the preference for different franchising businesses has been varying mostly determined by the performance of the franchisor as well as their good name. One franchise network that has taken the pride of place is the Tim Horton’s franchises. These franchises originally dealt with dough nuts and coffee. However, it continued expanding and adding more items to its menu including soups and sandwiches. These franchises are mainly to be found in the United States of America as well as Canada. In Canada almost the whole range of operations of the company are franchise owned. These operations are however in line with Tim Horton’s franchises’ goal and have actually helped the company expand especially in the United States.
One thing that would buoy you to invest in the Tim Horton franchises is the past performance of the company. These franchises have been registering positive growth in the past and that could have a bearing on the future performance. Most of the franchises have been having tremendous growth in sales and therefore leading to the expansion of the business.
To invest in the Tim Horton franchises, it would be important that you evaluate your financial capability. This is because you would be required to raise quite a large sum of money actually to the tune of close to 200,000 dollars. This is inclusive of the minimum acquisition fee plus the operating expenses. Total investment actually goes to the tune of almost 700,000 dollars which may not be in the reach of many people.
Nevertheless, investors could take heart in the knowledge that there are franchise incentive programs that they could take advantage of. This incentive program offers the entrepreneurs a financial break given the financing in the short term on furniture, store fixtures, indoor signage and other equipments.
Costs pertaining to Tim Horton’s franchises include initial down payment, royalties, advertising fee as well as rent. It is also important to acknowledge that you will be required to state the remaining amount of the purchase price in a promissory note and set some money aside to pay it off. As much as you may not enjoy location exclusivity, you can be assured that your growth and sales will not be affected by any new or old operations.
One strong point to consider is that you will be availed with training on management and running of the business. This pertains to proper handling of food, maintenance of store equipments, employee relations and hygiene standards. You can take peace in the knowledge that a crew for store opening will be sent and will be with you for a period of two weeks ensuring that you have a soft landing.
