Tim Hortons Case Study

Tim Hortons Inc. is a Canadian-based multinational fast food restaurant franchising company (MNC), renowned for its coffee and doughnut products. The chain's first store opened on May 17, 1964 in Hamilton, Ontario, as "Tim Horton Donuts,” though it was later abbreviated to "Tim Hortons." The founder was a National Hockey League player by the name of Miles G. Horton, who played hockey from 1949, a fatal traffic accident claimed his life in 1974 and Ron Joyce, who had been a former Hamilton police officer. At first, he had a business venture in hamburger restaurants, very much unlike a cafe.
Tim Horton and Ron Joyce became full business partners in 1965, and after Horton's death in the accident in 1974, Joyce bought out his shares for $1M USD and took over the entire chain of at that time 40 branches. He was very business savvy, and as a result, the 500th store opened in 1991. This fast-paced expansion had allowed for many major changes to what is now known worldwide as the Canadian coffee and doughnut franchise. Though fierce at first, the competition soon diminished as Tim Hortons succeeded and retained a large portion of the market share in the industry.
After partnering with the fast food outlet, Wendy’s, the Tim Hortons franchises expanded quickly and even overtook
In 2009, Tim Hortons Inc. announced that after receiving approval from the shareholders, the franchise's operations would become a trading company in the international stock market, and would be incorporated under the Canada Business Corporations Act; just a few months later, it did so. It managed to raise over $700M USD during its first quarter in the market. The shares in Tim Hortons distributed the remaining 82% to its shareholders, and Tim Hortons was added to the S&P/TSX Composite Index and the S&P/TSX 60, both of which are Canada’s benchmark stock-market