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Tim Hortons working on international growth plans
May 16, 2010
Tim Hortons is developing an international expansion plan to complement its aggressive North American growth plans announced in March. Tim Hortons president Don Schroeder said on Friday during its investor meeting that the company will announce its plans in the third or fourth quarter, Reuters reports.
From the story:
Some analysts said the company, which has the lion's share of restaurant coffee sales in Canada, should perfect its North American strategy before eyeing international expansion. ….But company growth in North America may be getting squeezed. Some analysts estimate it has fewer than five years of growth left in Canada until the market is fully saturated and that in the United States it is still not fully attuned to American tastes.
In March, Tim Hortons announced it planned to open 900 new stores in Canada and the United States in the next three years, including 300 U.S. stores. The company has slightly more than 3,000 stores in Canada and more than 560 in the United States.
Other quick-serve brands are finding opportunities in international expansion. Wendy's/Arby's Group's research has shown the potential for 8,000 stores for its burger and sandwich chains outside of North America. The company plans to enter three or four yet-to-be named new markets this year.
Prior to its buyout agreement, NexCen Brands' franchised brands, including Great American Cookies and Pretzelmaker, have focused on expansion outside of the United States since franchise lending all but dried up here during the recession.
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