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    Franchise opportunities compared

    Caribou Coffee vs TIM HORTONS

    Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.

    Caribou Coffee2026 FDDTIM HORTONS2026 FDD

    Initial investment · Item 7

    Caribou Coffee

    $281,100 – $1,515,000

    2026 FDD · Item 7

    TIM HORTONS

    $60,150 – $3,312,500

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    Caribou Coffee

    Not available

    TIM HORTONS

    $50,000

    2026 FDD · Item 5 · PDF p. 27

    Royalty · Item 6

    Caribou Coffee

    4% · Note 1) Cabin and Chalet: 5% of Gross Sales Kiosk: 6% of Gross Sales ( — 4%

    2026 FDD · Item 6 · PDF p. 14

    TIM HORTONS

    4.5%

    2026 FDD · Item 6 · PDF p. 29

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Caribou Coffee and TIM HORTONS disclose more than one business format, so the investment range spans formats; the full report breaks them out.
    • Item 19 figures cover the location groups each FDD names (Caribou Coffee: 6, TIM HORTONS: 4). Different groups are not directly comparable.

    Financial commitment

    Estimated initial investment (Item 7)

    Caribou Coffee

    $281,100 – $1,515,000
    2026 FDD · Item 7

    TIM HORTONS

    $60,150 – $3,312,500
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    Caribou Coffee

    Not available
    No single standard fee identified

    TIM HORTONS

    $50,000
    2026 FDD · Item 5 · PDF p. 27
    Royalty (Item 6)

    Caribou Coffee

    4% · Note 1) Cabin and Chalet: 5% of Gross Sales Kiosk: 6% of Gross Sales ( — 4%
    marks Royalty
    2026 FDD · Item 6 · PDF p. 14

    TIM HORTONS

    4.5%
    Franchise royalty range low: Royalty 4.5% to 6% of Gross Sales
    2026 FDD · Item 6 · PDF p. 29
    Brand / advertising fund (Item 6)

    Caribou Coffee

    1%
    o 3% of Gross Sales Same as Royalty Currently, allocated as 2% to the Brand Fund and — 1% — 1%
    2026 FDD · Item 6 · PDF p. 15

    TIM HORTONS

    4%
    Advertising contribution: 4% of Gross Sales — 4%
    2026 FDD · Item 6 · PDF p. 29

    System scale & health

    Total outlets (Item 20)

    Caribou Coffee

    494
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 62

    TIM HORTONS

    693
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 85
    Net outlet change (Item 20)

    Caribou Coffee

    +14
    Calculated: 480 at end of 2023 → 494 at end of 2025

    TIM HORTONS

    +51
    Calculated: 642 at end of 2023 → 693 at end of 2025
    Outlet exits (Item 20)

    Caribou Coffee

    Not available
    No complete exit records for a year

    TIM HORTONS

    Not available
    No complete exit records for a year
    Franchising since (Item 1)

    Caribou Coffee

    2004
    From a verified franchisor listing

    TIM HORTONS

    Not available
    Not in reviewed records
    Franchisor founded (Item 1)

    Caribou Coffee

    Not available
    Not in reviewed records

    TIM HORTONS

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Caribou Coffee
    Locations counted not stated in the reviewed record — Company Chalet
    116 coffeehouses
    other Drive-thru Chalet sample
    2026 FDD · Item 19 · PDF p. 56
    Locations counted not stated in the reviewed record — Kiosk nontraditional
    130 coffeehouses
    other Kiosk sample
    2026 FDD · Item 19 · PDF p. 54
    Locations counted not stated in the reviewed record — Kiosk
    10 coffeehouses
    other Kiosk exclusions
    2026 FDD · Item 19 · PDF p. 54
    +3 more groups in the full report
    TIM HORTONS
    Locations counted not stated in the reviewed record — Franchised Standard Shops open as of December 31, 2025 that reported at least 1…
    271 shops
    other Shops meeting/exceeding average: 271
    2026 FDD · Item 19 · PDF p. 82
    Locations counted not stated in the reviewed record — 2025 Shops reporting comparable sales for the same months of 2024 and 2025 and…
    2 percent
    other Same-shop Gross Sales growth: 2.0%
    2026 FDD · Item 19 · PDF p. 83
    Locations counted not stated in the reviewed record — Standard Shops included in the 2025 Shops that supplied cost-of-goods and labor…
    277 shops
    other Shops at or above average labor percentage: 277
    2026 FDD · Item 19 · PDF p. 82
    +1 more groups in the full report

    Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.

    Caribou Coffee vs TIM HORTONS: common questions

    Which costs less to open, Caribou Coffee or TIM HORTONS?
    Caribou Coffee: $281,100 – $1,515,000 (2026 FDD · Item 7); TIM HORTONS: $60,150 – $3,312,500 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for TIM HORTONS. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    How do Caribou Coffee and TIM HORTONS royalties compare?
    Caribou Coffee: 4% · Note 1) Cabin and Chalet: 5% of Gross Sales Kiosk: 6% of Gross Sales ( — 4% (2026 FDD · Item 6 · PDF p. 14); TIM HORTONS: 4.5% (2026 FDD · Item 6 · PDF p. 29). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, Caribou Coffee or TIM HORTONS?
    Caribou Coffee: 494 (2026 FDD · Item 20 · PDF p. 62); TIM HORTONS: 693 (2026 FDD · Item 20 · PDF p. 85). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do Caribou Coffee and TIM HORTONS disclose financial performance (Item 19)?
    Caribou Coffee has reviewed Item 19 figures for 6 location groups; TIM HORTONS has reviewed Item 19 figures for 4 location groups. Different location groups are not directly comparable, and revenue is not profit.

    Answers restate the reviewed figures above. Not a ranking or recommendation.

    How Franopolis reviews FDD figures

    Keep researching

    Full Caribou Coffee report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    Full TIM HORTONS report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

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