Franopolis

    TIM HORTONS

    Franchise research report · reviewed 2026 disclosure data

    Reviewed sources

    Tim Hortons franchises shops selling coffee and other nonalcoholic beverages, baked goods, soups, and sandwiches. Standard shops may include customer seating and a drive-through, while smaller nonstandard formats operate with a more limited offering.

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    Headline figures

    TIM HORTONS quick facts

    Is TIM HORTONS a franchise?
    Yes. TIM HORTONS offers franchises through a Franchise Disclosure Document. At the end of 2025, it reported 669 franchised and 24 company-owned outlets (2026 FDD, Item 20, PDF p. 85).
    How much does it cost to open a TIM HORTONS franchise?
    The TIM HORTONS Franchise Disclosure Document reports separate estimated initial investments by format: $427,500–$1,573,500 for standard shop: within petro locations (franchise agreement): total $427,500–$1,573,500 (2026 FDD, Item 7, PDF p. 39); $148,000–$802,700 for non-standard shop (franchise agreement): total $148,000–$802,700 (2026 FDD, Item 7, PDF p. 41); $60,150 for operator agreement: total $60,150–$217,500 (2026 FDD, Item 7, PDF p. 44); $988,000–$3,312,500 for standard shop: new model (franchise agreement): total $988,000–$3,312,500 (2026 FDD, Item 7, PDF p. 38); $913,000–$3,013,500 for standard shop: other (franchise agreement): total $913,000–$3,013,500 (2026 FDD, Item 7, PDF p. 40). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What is the TIM HORTONS initial franchise fee?
    The disclosed initial franchise fee for a standard single unit is $50,000 (2026 FDD, Item 5, PDF p. 27). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
    What ongoing fees does TIM HORTONS charge?
    The disclosed ongoing royalty is 4.5% (2026 FDD, Item 6, PDF p. 29). The brand or advertising fund contribution is 4% (2026 FDD, Item 6, PDF p. 29). Other recurring fees are listed in Item 6. Details
    Does TIM HORTONS disclose financial performance (Item 19)?
    Yes. The TIM HORTONS FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 82). Figures apply only to the locations and period each one covers. Details
    How many TIM HORTONS locations are there?
    The FDD reports 693 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 85). Existing locations do not indicate territory availability. Details
    Is TIM HORTONS a good franchise to buy?
    Franopolis does not rate or recommend franchises. From the reviewed FDD: Item 19 includes financial performance figures; check which locations and period they cover; Item 20 lists outlet openings, closures and transfers; Item 6 includes a brand or advertising fund contribution on top of royalty; Item 20 also lists current and former franchisees you can contact. Review the full FDD with a franchise attorney and accountant before deciding.

    From reviewed FDD figures only. Not a recommendation or projection.

    What the disclosures show

    1. 1The 2026 FDD (Item 7) estimates opening costs separately by format: $427,500 – $1,573,500 (Standard Shop: Within Petro Locations (Franchise Agreement): TOTAL $427,500–$1,573,500); $148,000 – $802,700 (Non-Standard Shop (Franchise Agreement): TOTAL $148,000–$802,700); $60,150 (Operator Agreement: TOTAL $60,150–$217,500); $988,000 – $3,312,500 (Standard Shop: New Model (Franchise Agreement): TOTAL $988,000–$3,312,500); $913,000 – $3,013,500 (Standard Shop: Other (Franchise Agreement): TOTAL $913,000–$3,013,500); several initial fee options apply.
    2. 2Item 19 covers 4 separate groups: other measures and revenue for 585 locations; revenue and other measures for 579 locations; other measures for 510 locations; other measures for 659 locations. They are not combined.
    3. 3Outlets grew by 30 in 2025, to 693 (United States, as labeled in the FDD, Item 20).

    From reviewed FDD figures only. Not a recommendation or projection.

    Franchises under $100kOther brands whose disclosed Item 7 low end fits this budget.Compare outlet trendsPut Item 20 counts side by side with up to 3 other brands.

    TIM HORTONS head-to-head

    Closest peers in the same subcategory, side by side from reviewed FDD figures. Not a ranking or recommendation.

    TIM HORTONSVSScooter’s Coffee
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    TIM HORTONSVSTim Hortons USA, Inc.
    Compare head-to-head
    TIM HORTONSVSCaribou Coffee
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    TIM HORTONSVSDunkin'
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    Costs · Items 5–7

    What does it cost to open?

    Estimated opening costs and the fees payable to the franchisor.

    Startup Investment — Item 7

    Range across 5 single-unit formats

    2026 FDD · Item 7

    Formats disclosed in Item 7 (5)

    Each format has its own total. The total depends on the format you choose.

    • Operator Agreement: TOTAL $60,150–$217,500PDF p. 44$60,150
    • Non-Standard Shop (Franchise Agreement): TOTAL $148,000–$802,700PDF p. 41$148,000 – $802,700
    • Standard Shop: Within Petro Locations (Franchise Agreement): TOTAL $427,500–$1,573,500PDF p. 39$427,500 – $1,573,500
    • Standard Shop: Other (Franchise Agreement): TOTAL $913,000–$3,013,500PDF p. 40$913,000 – $3,013,500
    • Standard Shop: New Model (Franchise Agreement): TOTAL $988,000–$3,312,500PDF p. 38$988,000 – $3,312,500

    Standard single-unit franchise fee

    2026 FDD · Item 5 · PDF p. 27
    Discounted and multi-unit options are separate; see all fees.

    Ongoing Fees — Item 6

    Selected recurring charges; payment bases and conditions remain attached to each fee.

    Franchise royalty range low: Royalty 4.5% to 6% of Gross SalesMain ongoing fee

    40 reported fees, each with its payment basis, are listed below; they haven't been sorted into recurring, initial and occasional groups yet.

    Financial Performance — Item 19

    What results are disclosed—and for which locations?

    4 separate populations, shown apart. Revenue is not owner income.

    585 locations

    Revenue and other measures · 585 locations

    Who is counted
    Franchised Standard Shops open as of December 31, 2025 that reported at least 10 months of sales in 2025 (the 2025 Shops); period measured: 2025
    Excluded
    Excludes 10 Standard Shops operating under Operator Agreements, 52 Standard Shops reporting less than 10 months of 2025 sales, and 12 Standard Shops providing inconsistent information; the excluded group includes 12 shops that closed in 2025, none open less than 12 months before closing.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    United States, as labeled in the FDD · counts as of December 31 of each year.

    2026 FDD · Item 20 · PDF p. 85

    Net +51 outlets, 2023–2025

    0642202366320246932025+21+30

    Year-end counts reported in Item 20. The scale starts at zero, so the line looks nearly flat; the labels between the dots show each year's change. Openings and closures for 2025 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.

    Questions to investigate

    Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.

    For the franchisor

    • Which line items in the 2026 Item 7 estimate ($60,150 – $3,312,500) vary most by market, and why?

    • Which initial fee option would apply to my situation, and what conditions or discounts affect it?

    • Which locations are included in the Item 19 figures, and which were excluded?

    • Reported units went from 663 to 693 in 2025. How many new units opened, closed or changed hands?

    • Is a territory available in my area, and how is it defined in my agreement?

    For current and former owners

    • How did your actual startup costs and timeline compare with the Item 7 estimate?

    • How many hours a week do you work in the business, and in what role?

    • How do your results compare with the Item 19 figures, and what explains the difference?

    • What support from the franchisor has been most and least useful?

    For your advisors

    • Ask a franchise attorney to review the territory, renewal, transfer and termination terms.

    • Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.

    Sources & vintage history

    Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.

    Citations (2026 FDD)

    1. [1]Standard initial franchise fee — Item 5 · PDF p. 27
    2. [2]Item 19 — Locations counted not stated in the reviewed record — Franchised Standard Shops open as of December 31, 2025 that reported at least 1… · PDF p. 82
    3. [3]Item 19 — Locations counted not stated in the reviewed record — 2025 Shops reporting comparable sales for the same months of 2024 and 2025 and… · PDF p. 83
    4. [4]Item 19 — Locations counted not stated in the reviewed record — Standard Shops included in the 2025 Shops that supplied cost-of-goods and labor… · PDF p. 82
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Franchised Standard Shops open in the Tim Hortons franchise system as of Decemb… · PDF p. 82
    6. [6]Outlet counts — Item 20, Table 1 · PDF p. 85

    "PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page.

    Territory & operations

    These are contract disclosures, not confirmation that any territory is currently available.

    Legal & agreement

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025rbi total assets 2025: 25615$25,615
    2025rbi total liabilities 2025: 20456$20,456
    2025rbilp net income attributable to common unitholders 2025: 1,074$1,074
    2025rbilp operating cash flow from continuing operations 2025: 1,714$1,714
    2025rbilp total assets 2025: 5,442$5,442
    2025rbilp total liabilities 2025: 283$283
    2025rbilp total partners’ capital/equity 2025: 5,157$5,157
    2025rbi total revenue 2025: 9434$9,434
    2025rbi net income 2025: 1075$1,075
    2025rbi operating cash flow from continuing operations 2025: 1714$1,714
    2024rbi total assets 2024: 24632$24,632
    2024rbilp total partners’ capital/equity 2024: 4,841$4,841

    These figures describe the franchisor company, not individual franchise locations.

    SBA-backed loans to franchisees

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    Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.

    Related research

    Brands in the same subcategory first, then the wider industry, ordered by shared business format, overlapping investment range, Item 20 outlet count and search interest. This is not a ranking or recommendation.

    Scooter’s CoffeeTim Hortons USA, Inc.Caribou CoffeeDunkin'Travelin' Toms CoffeeThe Human Bean

    Head-to-head comparisons

    TIM HORTONS vs Scooter’s CoffeeTIM HORTONS vs Tim Hortons USA, Inc.TIM HORTONS vs Caribou CoffeeTIM HORTONS vs Dunkin'TIM HORTONS vs Travelin' Toms CoffeeTIM HORTONS vs The Human Bean
    Compare reviewed facts

    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

    Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.

    Compare TIM HORTONS with…

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