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In 1965, Joyce took over the fledgling Tim Horton Donut Shop at 65 Ottawa Street North. By 1967, after opening two additional stores, the two became full partners. Upon Horton's death in 1974, Joyce bought out the Horton family's shares for $1 million and took over as sole owner of the existing chain of 40 stores, quickly and aggressively expanding the chain in both geography and product ...
- Timanjim Ltd.: 1963–64
- Early Franchising: 1964–66
- Balancing Hockey and Business: 1967–74
- Tim Horton Dies: 21 February 1974
- Shifting Ownership: 1975–95
- Wendy’s Merger: 1995–2006
- Expansion Challenges: 2009–14
- 3G Capital Purchase: 2014
- National Identity
- Controversies
In the spring of 1963, Toronto Maple Leafs defenceman Tim Horton met businessman Jim Charade. Charade had left his job as manager of a Scarborough, Ontario, doughnut plant to open a store called Your Do-nut in a strip mall at Lawrence and Warden avenues. The store was two doors from the barber shop where Horton got his signature brush cut. Horton h...
The franchisee of the first Tim Hortons was Spencer Brown, a 21-year-old bank clerk from Toronto. Although the restaurant was an immediate hit with shift workers at nearby steel plants — as much for the caffeine the coffee provided as for its doughnuts — Brown and Jim Charade quickly fell out. Brown left and went on to be a successful hotel operato...
Tim Horton and Ron Joyce slowly expanded the franchise chain, and by 1967 had three outlets in Hamilton and one in Waterloo. Joyce had left policing to devote himself to their restaurant business. Although Horton was still playing professional hockey, he was far more than a name on the restaurant sign. Horton was particularly involved in the real e...
For the 1973–74 season, Punch Imlach lured Tim Horton back to the Buffalo Sabres with a $150,000 salary and a sportscar, a De Tomaso Pantera, as a signing bonus. Horton was driving himself back to Buffalo after a game against the Maple Leafs when he lost control of the car in a high-speed, single-vehicle crash in St. Catharinesin the early hours of...
A share trust agreement triggered by Tim Horton’s death meant that Ron Joyce became the majority owner, with 50.5 per cent of the shares. The other 49.5 per cent were held by Horton’s widow, Lori, with whom he had four daughters. The new partnership was unworkable. Lori had never been involved in the day-to-day business, and when Horton died she ha...
In 1995, Ron Joyce sold the company in a merger with the American fast-food chain Wendy’s. Head office remained in Oakville, Ontario, but the company was registered in Delaware. The Wendy’s ownership allowed Tim Hortons to more aggressively pursue expansion opportunities in the northeastern United States as it continued to grow in Canada. Joyce rem...
In 2009, Tim Hortons surpassed 3,000 outlets in Canada (with 600 in the United States); in 2010, its outlets served about 8 of 10 cups of coffee sold by Canadian restaurants. The company was running out of domestic expansion opportunities. Its annual Roll Up the Rim contest also was becoming increasingly expensive as it contended with increased com...
For all its challenges, Tim Hortons remained a premium franchise restaurant chain, regularly heralded as one of Canada’s most respected brands. That attracted the attention of a Brazilian private equity firm, 3G Capital, which owned Burger King. In October 2014, Canada’s federal competition bureau approved 3G Capital’s takeover. The ownership chang...
In the 1990s, the idea that typical Canadians frequented coffee-and-doughnut shops began to take hold in the popular imagination. The Canadian satirical television program Royal Canadian Air Farce contributed to the popularization of this notion through its regular “A Canadian Moment” sketch. The sketch debuted on 3 December 1993 and featured “the ...
Tim Hortons is regularly criticized for a range of issues affecting the fast-food industry as a whole. Like most other chains, Tim Hortons coffee cups are not recyclable. The trash produced by the cups is regularly condemned, and the company has responded with recycling efforts. In the United States, the Humane Society of America targeted Tim Horto...
Dec 18, 2023 · Tim Hortons is considered part of the fabric of Canada, but long before the chain became synonymous with the country, it had humble beginnings as a coffee and doughnut shop. As the company turns ...
Jan 19, 2020 · The expansion of the business went into overdrive at this point and by 1991, 500 stores were open. Due to the expansion of Tim Hortons, many independent donut shops and small chains were put out of business, while Canada would gain the honour of having the highest per-capita ratio of doughnut shops in the world.
In 1964, Horton established a little coffee and donut shop, then known as "Tim Horton," that would eventually become a well-established Canadian franchise. Horton opened his first coffee and donut shop on Ottawa Street in Hamilton, Ontario, selling coffee for a quarter and featuring his own personal creations, the apple fritter and the Dutchie ...
Aug 25, 2014 · The doughnut shop was founded by Canadian hockey player Tim Horton and partner Jim Charade. Charade left the company in 1966. 1974- Tim Horton dies in car crash. Ron Joyce, the company’s first ...
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May 16, 2019 · The first Tim Hortons store. (Tim Hortons) This story is 5 years old. Today in 1964, the first Tim Hortons doughnut shop opened. Published May 16, 2019. Story by CBC Kids News. (Tim Hortons) Send ...
