Tim Hortons to open 300 U.S. stores by 2018
Oakville, Canada – Tim Hortons is unveiling a strategic four-year growth plan for 2014-2018 called “Winning in the New Era.” The plan, which has specific segments for the Canada, U.S., and international markets, includes the opening of 300 new U.S. locations by 2018.
In addition to store expansion, the chain’s plan for the United States includes driving average unit volumes in existing restaurants and pursuing traditional franchising development. The company has signed its first development agreements consistent with this strategy, with close to 100 (mix of standard and non-standard) units over the next five years in: St. Louis, (40); Youngstown, Ohio, 25 (all non-standard to complement existing development); Fort Wayne, Ind. (15) and Fargo and Minot, N.D. (15).
In Canada, Tim Hortons said it will use technology to aggregate customer insights and connect and transact with them in new and innovative ways, deliver differentiated innovation in products and services using customer insights to anticipate and act upon evolving needs and expectations, narrow the gap between average check and the sector average, and open approximately 500 new net locations by 2018.
Internationally, Tim Hortons plans to expand up to 225 new locations in the Gulf Cooperation Council, refine existing market research, business assessments and views on market opportunities, and prioritize markets and develop due diligence to position itself to enter new international markets in 2015.
"We are setting out to be bold, different and daring,” said Marc Caira, president and CEO of Tim Hortons. “We envision a Tim Hortons that is one of the industry's most consumer-centric brands, leveraging technology to build our understanding of emerging consumer insights and to connect with them in new and innovative ways. We are focusing on flawless execution and creating the ultimate guest experience. We are asserting our coffee and food leadership, simplifying our operations and pursuing differentiated innovation. Our team is aligned, focused and committed to strong execution and market leadership.”