Tim Hortons NEW Poutine • Food Review
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Tim Hortons Inc. (known internationally as Tim Horton’s Cafe and Bake Shop) is a Canadian multinational fast casual restaurant known for its coffee and doughnuts. It is also Canada’s largest fast food service with over 3,000 stores nationwide. It was founded in 1964 in Hamilton, Ontario, by Canadian hockey player Tim Horton and Jim Charade, after an initial venture in hamburger restaurants. In 1967, Horton partnered with investor Ron Joyce, who assumed control over operations after Tim Horton died in 1974, and expanded the chain into a multi-million dollar franchise. Charade left the organization in 1966 and briefly returned in 1970 and 1993 through 1996.
Tim Hortons franchises spread rapidly and eventually overtook McDonald’s as Canada’s largest food service operator. The company opened twice as many Canadian outlets as McDonald’s and system-wide sales also surpassed those of McDonald’s Canadian operations as of 2002. The chain accounted for 22.6% of all fast food industry revenues in Canada in 2005. Tim Hortons commands 76% of the Canadian market for baked goods (based on the number of customers served) and holds 62% of the Canadian coffee market (compared to Starbucks, in the number two position, at 7%).
In November 2010, Tim Hortons extended Interac debit payment system acceptance to most of its stores. The company previously began accepting Interac in its stores in Western Canada in 2003 and, later, MasterCard and MasterCard PayPass across most of its stores in 2007. The company often indicated the delay of broader or wider electronic payment acceptance was to “ensure speed of service.” In 2012, Tim Hortons began accepting Visa cards, and in 2013, began accepting American Express cards.