Franopolis

    Tim Hortons USA, Inc.

    Franchise research report · reviewed 2026 disclosure data

    Researching Tim Hortons USA, Inc. franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources
    Franchising since
    1984
    Source: franchise.org
    Headquarters
    Oakville, ON Canada
    Source: franchise.org

    Tim Hortons franchise operates as Canada's largest quick-service restaurant chain, specializing in coffee, donuts, and breakfast items with a strong presence ac

    Headline figures

    Tim Hortons USA, Inc. quick facts

    Is Tim Hortons USA, Inc. a franchise?
    Yes. Tim Hortons USA, Inc. offers franchises through a Franchise Disclosure Document. At the end of 2025, it reported 669 franchised and 0 company-owned outlets (2026 FDD, Item 20, PDF p. 85).
    How much does it cost to open a Tim Hortons USA, Inc. franchise?
    The Tim Hortons USA, Inc. Franchise Disclosure Document reports separate estimated initial investments by format: $913,000–$3,013,500 for standard shop — other — total initial investment (2026 FDD, Item 7, PDF p. 40); $988,000–$3,312,500 for standard shop — new model — total initial investment (2026 FDD, Item 7, PDF p. 38); $427,500–$1,573,500 for standard shop — petro — total initial investment (2026 FDD, Item 7, PDF p. 39); $148,000–$802,700 for non-standard shop — total initial investment (2026 FDD, Item 7, PDF p. 41); $60,150–$217,500 for operator — total initial investment (2026 FDD, Item 7, PDF p. 44). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What is the Tim Hortons USA, Inc. 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 USA, Inc. 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 USA, Inc. disclose financial performance (Item 19)?
    Yes. The Tim Hortons USA, Inc. 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 USA, Inc. locations are there?
    The FDD reports 669 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 85). Existing locations do not indicate territory availability. Details
    Is Tim Hortons USA, Inc. 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: $913,000 – $3,013,500 (Standard Shop — Other — total initial investment); $988,000 – $3,312,500 (Standard Shop — New Model — total initial investment); $427,500 – $1,573,500 (Standard Shop — Petro — total initial investment); $148,000 – $802,700 (Non-Standard Shop — total initial investment); $60,150 – $217,500 (Operator — total initial investment); several initial fee options apply.
    2. 2Item 19 covers 3 separate groups: other measures and revenue for 585 Franchised Standard Shops locations; other measures and revenue for 510 Franchised Standard Shops locations; revenue and other measures for 579 Franchised Standard Shops locations. They are not combined.
    3. 3Outlets grew by 6 in 2025, to 669 (National, as labeled in the FDD, Item 20).

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

    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 — total initial investmentPDF p. 44$60,150 – $217,500
    • Non-Standard Shop — total initial investmentPDF p. 41$148,000 – $802,700
    • Standard Shop — Petro — total initial investmentPDF p. 39$427,500 – $1,573,500
    • Standard Shop — Other — total initial investmentPDF p. 40$913,000 – $3,013,500
    • Standard Shop — New Model — total initial investmentPDF 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 rate lowMain ongoing fee

    38 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?

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

    Locations counted: not stated in the reviewed record

    Revenue and other measures · 585 locations

    Who is counted
    Franchised Standard Shops reporting at least 10 months of 2025 sales; Gross Sales
    Excluded
    Of 659 open Standard Shops, excludes 10 under Operator Agreements, 52 reporting less than 10 months, and 12 providing inconsistent information; excluded Shops include 12 that closed in 2025, none open less than 12 months before closing.
    Method
    Unaudited franchisee-submitted reports; dollar amounts rounded to nearest dollar and percentages to nearest full percentage.

    Locations counted: not stated in the reviewed record

    Revenue and other measures · 510 locations

    Who is counted
    Standard Shops in 2025 Shops with COGS and labor expense information
    Excluded
    75 Standard Shops were excluded because they failed to report COGS and/or labor information or reported that information for less than 10 months; 12 included Shops operated under New Model.
    Method
    Unaudited reports submitted by franchisees; dollars rounded to nearest dollar and percentages to nearest full percentage.

    Locations counted: not stated in the reviewed record

    Revenue and other measures · 579 locations

    Who is counted
    2025 Shops reporting comparable same-month Standard Shop Gross Sales for 2024 and 2025 and open before December 15, 2024
    Excluded
    6 Standard Shops excluded: 2 opened in 2025 with no comparable sales periods, 1 opened in 2024 but did not submit sales until 2025, and 3 opened after December 15, 2024.
    Method
    Unaudited franchisee-submitted reports; percentages rounded to nearest full percentage.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    National, as labeled in the FDD · counts as of 2025 of each year.

    2026 FDD · Item 20 · PDF p. 85

    Net −615 outlets, 2023–2025

    01,28420231,28020246692025−4−611

    Year-end counts reported in Item 20. The scale starts at zero; 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 669 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 reporting at least 10 months of 2025 sales; Gross Sal… · PDF p. 82
    3. [3]Item 19 — Locations counted not stated in the reviewed record — Standard Shops in 2025 Shops with COGS and labor expense information · PDF p. 82
    4. [4]Item 19 — Locations counted not stated in the reviewed record — 2025 Shops reporting comparable same-month Standard Shop Gross Sales for 2024 a… · PDF p. 83
    5. [5]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. Source document: FDD

    Territory & operations

    127 addresses in Franopolis's imported location list. Coverage may differ from Item 20 outlet counts.

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

    Legal & agreement

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$20,456
    2025restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$20,456
    2025restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$25,615
    2025restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$5,159
    2025restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$9,434
    2025restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$2,202
    2025restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$1,075
    2025restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$25,615
    2025restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$5,159
    2025restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$9,434
    2025restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$2,202
    2025restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$1,075
    2024restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$8,406
    2024restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$1,445
    2024restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$24,632
    2024restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$19,789
    2024restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$4,843
    2024restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$2,419
    2024restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$24,632
    2024restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$19,789
    2024restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$4,843
    2024restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$8,406
    2024restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$2,419
    2024restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$1,445
    2023restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$1,718
    2023restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$1,718
    2023restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$7,022
    2023restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$7,022
    2023restaurant brands international inc. and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$2,051
    2023restaurant brands international limited partnership and subsidiariesMore than one value recorded for this year — open the FDD source before comparing$2,051

    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

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    Head-to-head comparisons

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    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.