"You might think that with our strong market share there might be limited opportunity for growth in Canada. That is simply not the case," said Paul House, speaking at the Raymond James Annual Institutional Investors Conference in Orlando, Florida, last month. "We believe that there is an opportunity for 4,000 locations in Canada."
Tim Hortons now has 3,295 restaurants in Canada, 714 across 10 U.S. states and five in the United Arab Emirates.
Last year, Tim Hortons Inc. stock went into a tailspin and the company was criticized for expanding too quickly after the sudden departure of Donald Schroeder as president and CEO.
But House said Tim Hortons plans to open between 155 to 175 new locations in Canada and up to 100 full-serve restaurants in the U.S. in 2012. At the same time it wants to increase same-store sales by 3 per cent to 6 per cent in Canada and the U.S.
A Tim Hortons franchise costs from $430,000 to $480,000 to start.
– Compiled by Kevan O'Brien
from Western Investor May 2012
