Fast-expanding Tim Hortons has received the 2012 Harris/Decima EquiTrend Brand of the Year award, ranked highest on the measure of equity in the quick-service restaurant (QSR) category. The equity ranking is based on a composite of three measures: perceptions of quality, familiarity and consumer consideration.
"We are extremely proud to receive this award from Harris/Decima," said Glenn Hollis, the company's vice-president of branding. "Tim Hortons would like to thank our restaurant owners and team members for their commitment to ensuring guest satisfaction at every level. We would also like to thank our guests for their loyalty to our brand."
Tim Hortons received the highest equity score among 34 QSR brands. The score is is based on the opinions of 13,384 Canadian consumers aged 15 and over surveyed online during July and August 2012.
Harris/Decima is a long-established marketing research firm in Canada and a division of Harris Interactive, one of the largest global marketing research firms.
Tim Hortons has more than 4,100 restaurants system-wide, including more than 3,300 in Canada, offering coffee, baked goods and fast-food service.
Since opening its first U.S. store in Buffalo, NY, in 1985, it has expanded to more than 750 stores in a dozen states and plans to open another 300 locations over the next three years. Recently the company opened its first location in Oman as part of its invasion of the Persian Gulf.
The cost of a full Canadian franchise varies from $430,000 to $480,000. At least $144,000 of the franchise cost must be unencumbered (cash or liquid assets). There are also royalty and advertising fees, based on a percentage of gross sales.
from Western Investor January 2013