Growing Restaurant Chain joins the VetFran Veterans Franchise Initiative; Offers Reduced Franchise Fee Incentives
DUBLIN, OH, Sept. 13, 2012 /CNW/ - Tim Hortons, one of the fastest growing restaurant chains in North America, is proud to announce it is now participating in the International Franchise Association's (IFA) Veterans Franchise Initiative (VetFran), which provides financial incentives to qualified veterans to help them acquire franchised businesses.
As part of its commitment to the VetFran program, Tim Hortons will waive a qualified veteran's initial franchise fee for his or her first restaurant, and reduce monthly royalty payments by 2.5 percent for the first 12 months of operation. For veterans franchising under a Tim Hortons Operator Agreement, Tim Hortons will waive the security deposit for the first restaurant and reduce the monthly operator fee by 2.5 percent for the first 12 months of operation.
The bakery-cafe chain believes that military experience can provide the discipline, commitment and a strong work ethic that are part of the winning formula for operating a successful restaurant franchise.
"Tim Hortons has always believed in supporting our troops and veterans. We also believe that a significant amount of military training, skills and experiences are transferable into the business world. It's no coincidence that many of the most successful restaurants operate with 'military precision,' including Tim Hortons. We think it's a win-win situation," said Mike Meilleur, Executive Vice President, Tim Hortons U.S.
In fact, Tim Hortons currently operates six restaurants on five military bases in the United States, including:
- Naval Air Station Norfolk
- Naval Air Station Oceana
- Fort Knox
- Aberdeen Proving Grounds (two locations)
- Dover Air Force Base
Life after the military fits with the current Tim Hortons franchise culture. Many existing restaurant owners sought a franchise as a second career. Some of the chain's newest franchisees are trading up from careers in the police force, professional services or restaurant operations, either as a result of the current economy or a personal pursuit to be an entrepreneur and run their own business.
As of July 1, Tim Hortons had 734 U.S. restaurants. The chain plans to continue to expand in markets where they currently have a presence, primarily in the north and central U.S. For more information on Tim Hortons U.S. franchising opportunities, visit www.timhortons.com/franchise.
About Tim Hortons Cafe & Bake Shop
Tim Hortons is one of the largest publicly-traded restaurant chains in North America based on market capitalization. Operating in the quick service segment of the restaurant industry, Tim Hortons Cafe & Bake Shop appeals to a broad range of consumer tastes, with a menu that includes premium coffee, espresso-based beverages, specialty teas, home-style soups, fresh sandwiches, grilled paninis, wraps, hot breakfast sandwiches and fresh baked goods, including our trademark donuts. As of July 1, 2012, Tim Hortons had 734 restaurants in the United States and 4,071 restaurants systemwide. For more information, visit www.timhortons.com.
SOURCE: Tim Hortons Inc.
For further information:
Manager, Public Relations U.S.
Tim Hortons Cafe & Bake Shop