Tim Hortons Inc. (TSX: THI, NYSE: THI) is a Canadian coffee store identified for its espresso and doughnuts. It was based in 1964 in Hamilton, Ontario, by Canadian hockey participant Tim Horton and Jim Charade, after an preliminary enterprise in hamburger eating places. In 1967 Horton partnered with investor Ron Joyce, who assumed management over operations after Tim Horton died in a automotive crash in 1974, and expanded the chain right into a multi-million greenback franchise. Jim Charade left the group in 1966 and briefly returned in 1970 and 1993 by means of 1996.
Tim Hortons franchises unfold quickly and finally overtook McDonald’s as Canada’s largest meals service operator. The corporate opened twice as many Canadian shops as McDonald’s and system-broad gross sales additionally surpassed these of McDonald’s Canadian operations as of 2002. The chain accounted for 22.6% of all quick meals business revenues in Canada in 2005. Tim Hortons instructions seventy six% of the Canadian marketplace for baked items (primarily based on the variety of prospects served) and holds sixty two% of the Canadian espresso market (in comparison with Starbucks, within the quantity two place, at 7%).
As of four July 2010, Tim Hortons had three,627 systemwide eating places, together with three,040 in Canada and 587 in the USA.
Tim Hortons has a world presence together with shops in the USA, together with one opened in Detroit and owned by former NBA participant Derrick Coleman and one on a navy base exterior Kandahar, Afghanistan. Two extra retailers are positioned in navy bases at Fort Knox, Kentucky, and Naval Station Norfolk, Virginia. Tim Hortons’ different worldwide expansions embrace a small outlet on the Dublin Zoo. Tim Hortons additionally made a cope with the SPAR comfort retailer chain within the UK and Eire, leading to Tim Hortons espresso and doughnuts being bought at small self service counters in 50 SPAR shops as of April 30, 2007.
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