Tim Hortons: Difference between revisions
Skeezix1000 (talk | contribs) this might be true, but what's the source that there is an esp. high concentration in the GTA as compared to other areas |
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'''Tim Hortons''' <ref name="apos">Note that the name "Tim Hortons" is officially written without an apostrophe. [http://www.timhortons.com]</ref> ({{tsx|THI}}, {{nyse|THI}}) is a [[fast food]] restaurant chain founded in [[Hamilton, ON]], [[Canada]] with locations in [[Canada]] and the [[United States]]. It is the largest [[coffee (drink)|coffee]] and [[doughnut]] chain in Canada. It was listed as the third largest coffee chain in the [[United States]] in the first quarter of 2006 (after [[Starbucks]] and [[Caribou Coffee]]).<ref> ["The 10 largest coffee chains in the US", Slashfood, June 11, 2006 http://www.slashfood.com/2006/06/11/the-10-largest-coffee-chains-in-the-us/]</ref> |
'''Tim Hortons''' <ref name="apos">Note that the name "Tim Hortons" is officially written without an apostrophe. [http://www.timhortons.com]</ref> ({{tsx|THI}}, {{nyse|THI}}) is a [[fast food]] restaurant chain founded in [[Hamilton, ON]], [[Canada]] with locations in [[Canada]] and the [[United States]]. It is the largest [[coffee (drink)|coffee]] and [[doughnut]] chain in Canada. It was listed as the third largest coffee chain in the [[United States]] in the first quarter of 2006 (after [[Starbucks]] and [[Caribou Coffee]]).<ref> ["The 10 largest coffee chains in the US", Slashfood, June 11, 2006 http://www.slashfood.com/2006/06/11/the-10-largest-coffee-chains-in-the-us/]</ref> Sadly Tim Hortons now has locations in the united states, after it was taken over by the american Wendys restaurants. Many Canadians are ashamed of this, and are embaressed such a clean notable Canadian company has ended up in the dirty streets of the U.S. |
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In addition to its coffee and doughnuts, Tim Hortons is also well-known for its [[Timbits]], [[bagel]]s, [[soup]]s, and [[sandwich]]es. |
In addition to its coffee and doughnuts, Tim Hortons is also well-known for its [[Timbits]], [[bagel]]s, [[soup]]s, and [[sandwich]]es. Tim Hortons is a Canadian icon. Americans envy the clean Tim Hortons restauranst compared to there own filthy versions of Tim Hortons. |
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Tim Hortons franchise stores are plentiful in Canadian cities and towns, especially in the [[Greater Toronto Area]]{{fact}}. The chain has expanded aggressively across most regions of Canada. There were 2,631 outlets in Canada, |
Tim Hortons franchise stores are plentiful in Canadian cities and towns, especially in the [[Greater Toronto Area]]{{fact}}. The chain has expanded aggressively across most regions of Canada. There were 2,631 outlets in Canada, and 1 in[[Kandahar, Afghanistan]] were Canadians are fighting a war that was brought on by the America people, that has since killed many innocent Canadian men and women serving for this nation].<ref>Tim Hortons official site FAQ, [http://www.timhortons.com/en/about/faq.html#four]</ref> Tim Hortons has supplanted McDonald's as Canada's largest food service operator; it has nearly twice the number of Canadian [[McDonald's]] outlets, and its system-wide sales surpassed those of McDonald's Canadian operations in 2002.<ref>"Marketer of the Year: Down-Home Smarts", Marketing Magazine, February 7, 2005, [http://www.marketingmag.ca/magazine/current/marketer_year/article.jsp?content=20050207_66405_66405]</ref> The chain accounted for 22.6% of all fast food industry revenues in Canada in 2005.<ref name="obj">"Wendy's confirms Tim Hortons IPO by March", Ottawa Business Journal, December 1, 2005, [http://www.ottawabusinessjournal.com/284838323369567.php]</ref> Tim Hortons commands 76% of the Canadian market for baked goods (based on the number of customers served) and holds 62% of the Canadian coffee market (compared to [[Starbucks]], in the number two position, at 7%).<ref name="blo">"Tim Hortons Raises C$783 Million in Initial Offering", Bloomberg News, March 23, 2006 [http://quote.bloomberg.com/apps/news?pid=10000103&sid=aVbau_WUTixk&refer=news_index]</ref> |
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==History== |
==History== |
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Revision as of 21:45, 14 September 2006
| File:Timhorton-logo.png | |
| Company type | Public TSX: THI, NYSE: THI |
|---|---|
| Industry | Restaurants[1] |
| Founded | Hamilton, Ontario (1964) |
| Headquarters | Oakville, Ontario |
Key people | Paul D. House, President, CEO, and Director |
| Products | Coffee Doughnuts Timbits Bagels Soups Sandwiches Iced cappuccinos |
| Revenue |  $1.482 billion CAD (2005) |
| $191.1 million CAD (2005) | |
Number of employees | 70,000 (2005) |
| Parent | Wendy's International, Inc. |
| Website | timhortons.com wendys.com |
Tim Hortons [2] (TSX: THI, NYSE: THI) is a fast food restaurant chain founded in Hamilton, ON, Canada with locations in Canada and the United States. It is the largest coffee and doughnut chain in Canada. It was listed as the third largest coffee chain in the United States in the first quarter of 2006 (after Starbucks and Caribou Coffee).[3] Sadly Tim Hortons now has locations in the united states, after it was taken over by the american Wendys restaurants. Many Canadians are ashamed of this, and are embaressed such a clean notable Canadian company has ended up in the dirty streets of the U.S.
In addition to its coffee and doughnuts, Tim Hortons is also well-known for its Timbits, bagels, soups, and sandwiches. Tim Hortons is a Canadian icon. Americans envy the clean Tim Hortons restauranst compared to there own filthy versions of Tim Hortons.
Tim Hortons franchise stores are plentiful in Canadian cities and towns, especially in the Greater Toronto Area[citation needed]. The chain has expanded aggressively across most regions of Canada. There were 2,631 outlets in Canada, and 1 inKandahar, Afghanistan were Canadians are fighting a war that was brought on by the America people, that has since killed many innocent Canadian men and women serving for this nation].[4] Tim Hortons has supplanted McDonald's as Canada's largest food service operator; it has nearly twice the number of Canadian McDonald's outlets, and its system-wide sales surpassed those of McDonald's Canadian operations in 2002.[5] The chain accounted for 22.6% of all fast food industry revenues in Canada in 2005.[6] Tim Hortons commands 76% of the Canadian market for baked goods (based on the number of customers served) and holds 62% of the Canadian coffee market (compared to Starbucks, in the number two position, at 7%).[7]
History
The first "Tim Horton" (the "s" came later) store opened in 1964 in Hamilton, Ontario. The business was founded by Tim Horton, who played in the National Hockey League from 1949 until his death in a car accident in 1974. Soon after Horton opened the store, he met Ron Joyce, a former Hamilton police constable. In 1965, Joyce's entrepreneurial spirit had come to the fore and he took over the fledgling Tim Horton Donut Shop on Ottawa Street North in Hamilton. By 1967, after he had opened up two more stores, he and Tim Horton became full partners in the business. Upon Horton's death, Joyce bought out the Horton family and took over as sole owner of the existing chain of the forty stores. Joyce expanded the chain quickly and aggressively in geography and in product selection, opening the 500th store in Aylmer, Quebec, in 1991. However, until recently, the chain had relatively few stores in Quebec, and the western part of the country.
Ron Joyce's aggressive expansion of the Tim Horton's business resulted in two major changes in the coffee and doughnut restaurant market: independent doughnut shops in Canada were virtually eliminated, and Canada's per-capita ratio of doughnut shops surpassed those of all other countries. [8]
In 1992, the owner of all Tim Hortons and Wendy's Restaurants in Prince Edward Island, Daniel P. Murphy, decided to open new franchise outlets for both brands in the tiny town of Montague. Murphy, being the franchise owner, opted to place them both in the same building, creating the first Tim Hortons/Wendy's "combo store." Murphy invited Joyce and Wendy's chairman Dave Thomas to the Montague grand opening, where the two executives met for the first time and immediately establishing a rapport. Murphy's success with combining coffee and donuts with Wendy's fast food led to the August 8, 1995 agreement that saw Wendy's International Inc. acquire TDL Group (originally "Tim Donut Ltd."), which saw Joyce become the largest shareholder in Wendy's, even surpassing Thomas.[28]
Under Wendy's ownership, combo stores opened across Canada and in some parts of the northern United States. TDL Group continued to operate as a separate subsidiary from its head office in Oakville, Ontario, down the road from Joyce's home in Burlington, Ontario, however Joyce retired from active management to pursue other interests in Calgary, Alberta.
TDL Group recorded $1.48 billion in sales in 2005[9] and had expanded across Canada into small and large markets, as well as into New York, Ohio, Michigan, West Virginia, Kentucky, and Maine. Many of the new Tim Hortons outlets in the U.S. were located in former Hardee's and Rax Restaurants, while others were opened as newly-built Wendy's/Tim Hortons combination stores.. By 2004, the chain had also acquired 42 Bess Eaton coffee and doughnut restaurants situated in Rhode Island, Connecticut, and Massachusetts.
In late 2005, Wendy's announced it would sell between 15 and 18% of the Tim Hortons operations in an initial public offering, which was completed on March 24, 2006, and subsequently said it would spin off to shareholders its remaining interest by the end of 2006.[10] Wendy's cited increased competition between the two chains and Tim's increasing self-sufficiency as reasons for its decision, but the company had been under shareholder pressure to make such a move because of the strength and profitability of the Tim Hortons brand.[11]
Shares of the company began trading on March 24, 2006, with an initial public offering of C$27 per share, raising over $700 million in the first day of trading. It remains majority-owned by Wendy's until such time as it spins off its remaining interest to Wendy's shareholders by the end of 2006.
Recently, three self-serve Tim Hortons kiosks have appeared in the UK and five in Ireland, usually within another store such as SPAR; a convenience store chain in Europe.
Tim Hortons has gained enormous popularity among members of the Canadian military, with outlets being located on or near many Canadian Forces Bases. Bowing to the request of Canadian servicemen and women, and a personal request relayed by Chief of Defence Staff, General Rick Hillier, TDL Group announced in March 2006 its committment to open a location at the Canadian Forces operations base in Kandahar, Afghanistan. The opening of the new Kandahar location in a 40 foot trailer on the military base was welcomed by Canadian troops on June 29, 2006.[12] The 41 staff members of the Kandahar outlet have been drawn from the Canadian Forces Personnel Support Agency who received training on such matters as how to handle a potential nuclear or biological attack before working at the military base.[13].
On April 2, 2006, a flash fire occurred in a branch on Yonge in the Yorkville area of Downtown Toronto. One man was killed; he apparently had brought a gas can into the men's bathroom, triggering the fire. The man's motives were not clear. Another branch was evacuated later that afternoon after a suspicious package was located, but it turned out to be nothing of significance. Both events resulted in the closure of substantial amounts of road around the affected areas.[citation needed]
On May 19, 2006, the biggest Tim Hortons in North America was opened in Clifton Hill, Niagara Falls, Ontario. The state-of-the-art store has two floors and an elevator.[citation needed]
Growth of the Tim Hortons Chain
- Store #1 - Hamilton, Ontario - May 1964
- Store #100 - Thunder Bay, Ontario - December 1978
- Store #200 - Hamilton, Ontario - December 1984
- Store #300 - Calgary, Alberta - February 1987
- Store #400 - Halifax, Nova Scotia - February 1989
- Store #500 - Aylmer, Quebec - January 1991
- Store #700 - Moncton, New Brunswick - October 1993
- Store #1000 - Ancaster, Ontario - August 1995
- Store #1500 - Pickerington, Ohio - March 1997 (this was also Wendy's 5000th store)
- Store #2000 - Toronto, Ontario - December 2000
- Store #2500 - Cayuga, Ontario - September 2003
- 100th U.S. store – Columbus, Ohio - July 31, 1998
(Source: Tim Hortons Official History)
Brand image
Advertising and promotion
Tim Hortons has one of the most successful marketing operations in Canada. With powerful and effective branding, the store has established itself in the top class of fast-food restaurants in Canada. Canadian Business magazine has twice named Tim Hortons as the best-managed brand in Canada (in 2004 and 2005).[14]
Tim Hortons commercials appear frequently on Canadian television and radio stations, and all six of the Canadian NHL rinks have Tim Hortons ads along their boards. Generally the chain promotes one or two "featured" products every month, such as iced cappuccinos and various sweetened baked goods during the summer, lunch products such as soup or sandwiches during the winter, and its flagship coffee promotion Roll Up The Rim to Win (see below) during the early spring.
Tim Hortons' advertising slogans have included "You've Always Got Time for Tim Hortons" and, more recently, "Always Fresh."
Roll Up the Rim to Win
From March until May of each year, Tim Hortons holds a very large marketing campaign called Roll Up The Rim to Win. Over twenty million prizes are distributed each year, ranging in value from vehicles to televisions, to store products. Customers determine if they have won prizes by unrolling the rim on their paper cup when they have finished their drink, revealing their luck underneath.
Advertising for the contest is always very aggressive. The ubiquitous Tim Hortons ads on the dasher boards of Canadian hockey rinks change from the normal "Tim Hortons" signage to a "Rrrroll up the Rim" display; the timing of the promotion also is key because it is during the height of the NHL season, ensuring that viewers across North America will see the ads. Television and other media are inundated with advertisements that repeat the "R-r-roll up the R-r-im to Win" slogan and encourage the recitation of the phrase using rolled R's to match the announcer's delivery.
Prizes are not distributed randomly country-wide; each of the company's distribution regions has its own odds for prize-winning.[15]
Community
The store also promotes itself through community support and the "Tim Horton Children's Foundation." Founded by Ron Joyce, the Foundation sponsors many thousands of underprivileged children from Canada and the United States to go to one of six high-class summer camps located in Parry Sound, ON; Tatamagouche, NS; Kananaskis, AB; Quyon, QC; Campbellsville, KY; and St. George, ON.
The foundation's highest-profile fundraiser is Camp Day, which is held annually on the Wednesday of the first full week in June. All proceeds from coffee sales at all Tim Hortons locations, as well as proceeds from related activities held that day, are donated to the foundation.
Mr. Joyce's dedication and commitment to the Tim Horton Children's Foundation earned him the Gary Wright Humanitarian Award in 1991, presented periodically in recognition of the outstanding contributions to the betterment of community life throughout Canada. In recognition primarily for his work with the Foundation, he received an appointment to the Order of Canada, with the official presentation taking place on October 21, 1992, in Ottawa.
Tim Hortons stores often locally sponsor young children's sports programs, known as "Timbits" minor sports.
A Canadian cultural fixture
The ubiquity of Tim Hortons, through both effective marketing and the wide expansion of its outlets, makes it a prominent feature of Canadian life. Tim Hortons' prevalence in the coffee and doughnut market has led to its branding as a Canadian cultural icon, and the media routinely refer to its iconic status.[16] A series of Tim's television commercials promotes this idea by showing vignettes of Canadians abroad and their homesickness for Tim Hortons.
Noted Canadian author Pierre Berton once wrote: "In so many ways the story of Tim Hortons is the essential Canadian story. It is a story of success and tragedy, of big dreams and small towns, of old-fashioned values and tough-fisted business, of hard work and of hockey."[17]
Criticism
Some commentators have questioned the rise of Tim Hortons as a national symbol. Rudyard Griffiths, director of The Dominion Institute, recently wrote in the Toronto Star that the ascension of the chain to the status of cultural icon was a "worrying sign" for Canadian nationalism, adding: "Surely Canada can come up with a better moniker than the Timbit Nation." [18]
Trivia
In March 2006, two families were fighting over the Toyota RAV4 SUV prize of $32,000 value after their daughters found a winning coffee cup in a garbage bin of an elementary school in Saint-Jérôme, north of Montreal. The younger girl had found a cup in the garbage bin and could not roll up the rim and so requested the help of an older girl. Once the winning cup was revealed, the older girl's family stated that they deserved the prize. Tim Hortons originally stated that they would not intervene in the dispute. A further complication arose when Quebec lawyer Claude Archambault requested a DNA test be done on the cup. He claimed that his unnamed client had thrown out the cup and was the rightful recipient of the prize. On April 19, 2006, Tim Hortons announced that they had decided to award the prize to the parents of the girl who had initially discovered the cup.[19]
Upon her much disputed release from prison, Karla Homolka was asked what the first thing was she planned to do upon leaving prison: "This is stupid. I'd like to have an iced cappuccino. An iced cappuccino from Tim Hortons, that's what I'd like to do." [20]
Notes and references
- ^ Tim Hortons Fact Sheet [1]
- ^ Note that the name "Tim Hortons" is officially written without an apostrophe. [2]
- ^ ["The 10 largest coffee chains in the US", Slashfood, June 11, 2006 http://www.slashfood.com/2006/06/11/the-10-largest-coffee-chains-in-the-us/]
- ^ Tim Hortons official site FAQ, [3]
- ^ "Marketer of the Year: Down-Home Smarts", Marketing Magazine, February 7, 2005, [4]
- ^ "Wendy's confirms Tim Hortons IPO by March", Ottawa Business Journal, December 1, 2005, [5]
- ^ "Tim Hortons Raises C$783 Million in Initial Offering", Bloomberg News, March 23, 2006 [6]
- ^ "The unofficial national sugary snack", Canadian Broadcasting Corporation, September 1, 1994 [7]
- ^ "Tim Hortons stock jumps in trading debut", CTV News, March 24, 2006 [8]
- ^ "Wendy's to spin off all of Tim Hortons by end of 2006", Canadian Broadcasting Corporation, March 3, 2006 [9]
- ^ "Wendy's International, Inc. Announces Comprehensive Strategic Initiatives to Enhance Shareholder Value", CNW Telbec, July 29, 2005 [10]
- ^ "Tim Hortons comes to Kandahar", CBC.ca, Jun 29, 2006 [11]
- ^ "Tim Hortons Survival Training", Yahoo News, May 5, 2006 [12]
- ^ "Tim Hortons Raises C$783 Million in Initial Offering", Bloomberg News, March 23, 2006 [13]; "Investing in an icon: Why everyone wants a piece of Tim Hortons", Ottawa Citizen, March 19, 2006 [14]; "Timbit Nation", Toronto Star, March 26, 2006 [15]; "Troops in Kandahar to get a Tim Hortons shop", March 7, 2006 [16]
- ^ "Not all rims rrroll up equally", Canadian Broadcasting Corporation, March 15, 2006 [17]
- ^ See, for example: "Tracing the roots of an icon," Montreal Gazette, March 21, 2006 [18]; "Investing in an icon: Why everyone wants a piece of Tim Hortons", Ottawa Citizen, March 19, 2006 [19]; "Timbit Nation", Toronto Star, March 26, 2006 [20]; "Tims holds gains", Globe and Mail, March 24, 2006 [21]; "Bay Street Week Ahead-Tim Hortons serves up hot IPO to go", Reuters News, March 26, 2006 [22]; "But can iconic coffee chain sustain growth, analysts wonder", Winnipeg Free Press, March 20, 2006 [23]
- ^ "Investing in an icon: Why everyone wants a piece of Tim Hortons", Ottawa Citizen, March 19, 2006 [24]
- ^ "Timbit Nation? Say it ain't so, eh", Toronto Star, July 23, 2006 [25]
- ^ "Finders, keepers: Tim Hortons puts a lid on cup contest controversy", Canadian Broadcasting Corporation, April 19, 2006 [26]
- ^ CTV.ca news, [27]
External links
- Tim Hortons official site
- Tim Hortons official history
- Wendy's International, Inc. corporate and investor site
- Tim Hortons history