Tim Hortons announced it is now participating in the International Franchise Association's (IFA) Veterans Franchise Initiative (VetFran), which provides financial incentives to qualified veterans to help them acquire franchised businesses.
As part of its commitment to the VetFran program, Tim Hortons will waive a qualified veteran's initial franchise fee for his or her first restaurant and reduce monthly royalty payments by 2.5 percent for the first 12 months of operation.
For veterans franchising under a Tim Hortons Operator Agreement, the company will waive the security deposit for the first restaurant and reduce the monthly operator fee by 2.5 percent for the first 12 months of operation.
"Tim Hortons has always believed in supporting our troops and veterans. We also believe that a significant amount of military training, skills and experiences are transferable into the business world. It's no coincidence that many of the most successful restaurants operate with 'military precision,' including Tim Hortons. We think it's a win-win situation," said Mike Meilleur, executive vice president, Tim Hortons U.S.
Tim Hortons currently operates six restaurants on five military bases in the U.S., including Naval Air Station Norfolk, Naval Air Station Oceana, Fort Knox, Aberdeen Proving Grounds (two locations) and Dover Air Force Base.
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