Tim Hortons is one of the largest fast-food chains in Canada. It owns a chain of cafés and other fast-food restaurants. We would like to tell you a bit about its history, from its beginnings in 1964 to the successful enterprise it is today.
Tim Hortons’ Beginnings
Tim Hortons, first-named Tim Horton Donuts in 1964, was founded and named after a National Hockey League player. Tim Horton partnered with Ron Joyce and started opening stores in 1967, but he died in a car accident in 1974.
After Horton’s demise, Joyce took over the brand and by 1991 he had opened about 500 additional stores. Horton and Joyce’s children, who got married after Tim’s death, are the ones that keep running the stores.
Growing after Name Changing
In the 1990s the company was named Tim Donut Limited but later changed to The TDL Group Ltd. This was because they wanted their business to work in more areas than just donuts, to satisfy consumers.
Although currently called Tim Hortons, the French apostrophe had previously been taken in the country. By withdrawing the apostrophe, the name can be used on bilingual menus in both English and French.
Merged with Wendy’s
In 1992 at Montague City, Daniel Murphy decided to open Tim Hortons and Wendy’s in the same building. Coffee and donuts were so successful with fast food that merging them was only natural. By 1995 Joyce became the major owner of Wendy’s shares in Canada, because of the famous combination with the Yankee Burger.
Getting Independence Again
By 2005, the Canadian company had already outnumbered McDonald’s with its amount of fast-food venues in Canada. As Tim Hortons’ success grew and became self-sufficient in the market, Wendy’s decided that it was time to withdraw from the partnership.
This did not affect the company at all, in 2006 it was already providing 76% of the market for baked goods in Canada and surpassed Starbucks in controlling the coffee market in Canada.
In 2009, the company Tim Hortons became a famously successful enterprise, listed on the Canadian Stock Exchange. By the end of 2013, the company had over 4350 coffee shops in the world that include 3,500 in Canada, and the rest divided between the United States and CCG.
Burger King’s Association
When Burger King saw Tim Hortons’ success, it decided to buy part of his shares and merge with the growing company in 2014.
The outcome was excellent, but some rules had to be followed. 30% of the board of directors had to be Canadian, as they had to guarantee an increase in employment opportunities, and had to keep the earnings apart.
Continued to this Day
In 2015 Tim Hortons changed its presidents again, announcing its closure of the headquarters in the United States in Ohio. It was also stated in 2016 that their businesses would be expanded to the UK.
For 2018 Tim Hortons began installing kiosks and self-service facilities in Ontario and by 2019 they decided to expand them throughout Canada.
Tim Hortons has proven to be one of the largest franchises in Canada. They have been smart about expanding to the United States, the United Kingdom, and countries across the globe. This company’s success is admirable, but it wasn’t built overnight and they have withstood all the challenges, overcoming them with flying colours.