Tim Hortons Franchise - 5 Lessons Learned

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TIM HORTON’S FRANCHISE SUCCESS

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Five Lessons to Learn!

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Not every franchise can be named for a hockey legend and not every franchise can experience the same success

as a

Tim Horton’s Franchise.

So what can future franchisees learn from the success of Tim Hortons to help them select a great franchise for

themselves?

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TIM HORTON’S FRANCHISEFive Lessons to Learn!




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Lesson #1: Consistent Customer Experience

A Tim Hortons Franchise or "Timmies", as it is commonly called, offers a consistent cup of coffee along with flavoured cappuccinos, specialty teas, home-style soups, fresh sandwiches and fresh baked goods.

The coffee is not a gourmet blend, but a simple, consistently good brew that gets the customer off to a rousing start in the morning or keeps them going through the day. To ensure the coffee is always fresh, Tim Hortons serves its coffee within 20 minutes of being brewed or it's not served at all.

Their facilities are always clean and cheerful without frills or fanfare. They have established operational procedures and policies that provide consumers the speed and quality of service they demand. Of course training also likely plays a key role in this consistency as well.

Every franchisee that invests in a Tim Hortons is getting a time-tested, proven business model that delivers results for those following the system.

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Lesson #2: Continuous Product Innovation

A Tim Hortons Franchise does not stick with the status quo. The franchisor tests and adds new products to it menu when it makes sense.

Since 1964, Tim Horton’s has continuously introduced new and appetizing products. The release of their trademarked “Timbits” has grown to have become a significant symbol of their success. With over 39 varieties of the bite-sized Timbits, it attracts customers of all ages, especially youngsters.

Tim Horton’s, slowly began to serve lunch as well as breakfast meals throughout the day when more variety became a success factor. Soups, sandwiches and chilies became and strong attraction in Tim Horton’s, providing customers with a wider menu more reasons to eat at Tim Horton’s during various occasions.

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Lesson #3: Customer Convenience

A Tim Hortons Franchise understands what it means to succeed in the quick service restaurant (QSR) category. It is now the largest quick service restaurant in Canada, with plans of having 4000 stores across Canada by 2013. Most locations are open 24 hours.

A key factor in Tim Hortons success is the emphasis on convenient and speedy service. The three top factors impacting customer convenience and the success of any QSR is:

Location, Location, and Location!

When considering the purchase of a franchise in the QSR category, don’t under estimate the importance of location.

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Lesson #4: Customer Loyalty

The term “customer loyalty” not only applies to the general public served by a Tim Hortons Franchise, but it also refers to it’s franchisees. A franchisor that knows what it takes to develop loyal franchisees focuses on the franchisees success.

Tim Hortons' commitment to maintaining a close relationship with franchisees and the communities where it operates has helped generate immense customer loyalty, while building Tim Hortons into one of the most widely recognized consumer brands in Canada. From animal welfare to children's sporting events, Tim's involvement shows appreciation for local and national support by giving back to the community. Over 40 percent of customers visit a Tim Hortons outlet four or more times each week.

Customer loyalty will eventually create a recognized brand, but it’s not built overnight. If you can find a good franchise that simply hasn’t had enough time to build it’s brand, but it has a loyal customer base, then rest assured that you have found a solid investment.

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Lesson #5: Solid Marketing Strategy

The Tim Hortons Franchise has a solid marketing strategy that keeps its brand in the forefront of its customer base. Because of Tim Horton’s size, it has the luxury of a large marketing budget, but also the burden of covering a large geographic area.

When considering franchises that do not yet have an established brand and are working on a limited marketing budget, the importance of a solid marketing strategy is even more critical because every penny needs to be maximized.

Look for a franchise that can provide you with details around how it drives customers at the local level using an Internet-based approach. Examine how the company leverages franchise local Facebook accounts, search engine optimization of franchisee websites, and sponsored ads like Google Adwords. In today’s world, a franchisor needs to provide its franchisee with leads through a solid Internet marketing strategy.

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Summary

Tim Hortons may be a Canadian cultural icon, but their eye is always on the customer. They have a knack for involving the consumer and making each customer their reason to exist. There keys to success include a focus on:

• Consistent Customer Experience• Continuous Product Innovation• Customer Convenience• Customer Loyalty• Solid Marketing Strategy

Before selecting the franchise for you, do you homework and do a thorough franchise evaluation to increase your chances of finding a franchise that is a good fit for you.

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Tim Hortons Franchise - 5 Lessons Learned