Purchasing a Tim Hortons franchise involves submitting a pre-qualification questionnaire, waiting for a company feasibility study, going through partnership evaluation and approval, and investing in a franchise location. Franchise operators must enter into binding licensing agreements with Tim Hortons for a specified period of time.
Potential Tim Hortons franchise owners must visit its website and provide personal information to the company via the pre-qualification questionnaire. Prospects provide the company with partner name, address and contact details, and additional information such as personal income, time commitment to the franchise and preferred franchise location. Prospects can choose up to four locations for a new franchise. People seeking Tim Hortons franchises must then wait for the company to evaluate their applications. There is no specific time frame for evaluation. Company representatives contact applicants when a franchise opportunity in a specified location opens up.
A franchise partner must meet all financial requirements for purchasing a Tim Hortons location, including net worth and liquid assets. Upon qualification, Tim Hortons representatives interview prospective franchisees. The company seeks franchise partners who can commit to the business and who have good business instincts. Each franchise location requires two partners working full-time to make their business a success. Previous restaurant or business experience is a plus, and partners cannot be invested in competing businesses.