Tim HortonsTable of Contents 1

Tim Hortons

George Dzialo, Anna Krause, Jillian Siegmund, Guadalupe Aldana, Allison Rivellini, Kaitlyn Fensterer

Sacred Heart UniversityDecember 6, 2015

Tim Hortons

Section 1 2

Company Overview 2

Product Portfolio 2

Global Positioning 2

Section 2 4

Market Penetration & Competition 4

Location 4

Target Market 5

Section 3 6

Demographics 6

Legal 6

Culture Adaptively 7

Section 4 7

Domestic Market 7

United States of America Market 8

United Arab Emirates Market 8

Section 5 9

Conclusions 9

Appendix 10

Works Cited 15

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Section 1

Company Overview

Since the beginning of Tim Hortons, they have been committed to serving a wonderful cup of coffee to the public. Tim Hortons opened its first official restaurant in Hamilton, Ontario, which is in Canada in the year 1964 by the ever so famous Tim Horton. They started off by just selling premium blend coffee and donuts. Eventually they started to expand their options as well as their locations.

Tim Horton and Ron Joyce become partners in 1967 and they made the first franchise. The majority of the 1980’s was spent expanding their menu. In 1984 the first location in the United States opened. They opened their 2,000th restaurant in the year 2000 while six years later the brand became a publically traded restaurant on the New York Stock Exchange. In 2014, Burger King and 3G Capital purchased Tim Hortons and formed Restaurant Brands International, which is currently the third largest restaurant brand in the world (Tim Hortons 2015).

Tim Hortons is an independent operating brand from the parent company Restaurant Brand International along with having their own executives. There are separate executives for both the Canadian and the United States restaurants. In addition to that, they also operate under the executives of Restaurant Brands International, the company that own them (RBI Executive Team 2015).

Product Portfolio

Tim Hortons first only specialized in coffee and baked goods. Eventually the consumer quantity grew and so did the product line. The changes started to take over and now today according to the franchise’s website there is, “35 different varieties to choose from” (Tim Hortons 2015). The company sells a variety of baked goods such as cookies, croissants, muffins, etc. as well as sandwiches, soups. Their products today fall into one of the four main categories: coffee, baked goods, breakfast and lunch. Since this is a coffee shop they obviously sell coffee but there are a variety of flavors, with the options of also choosing tea or cappuccino other than coffee. Tim Hortons’s menu is always evolving with new products in order to grab the customer’s interest and market share, such as creating a dark roast coffee blend which is only available in the United States and Canada.

Global Positioning

The food chain also features their franchising in other markets such as the United States. They are continually interested in expanding to the United States. Tim Hortons is scattered across the Canadian and United States borders. As far as expanding further internationally into other countries, Tim Horton’s stated, “We are constantly evaluating our international strategy and territories for growth. At the moment, unfortunately there are no franchising opportunities available outside our existing markets” (Tim Hortons, 2015)

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The epitome of top fast food industries in the United States are McDonalds and Burger King. “McDonalds claims as much as 9% of total food service in France and Germany and 8% in the highly coveted United States Market” (Fast food in United States, 2015). In comparison, in the Canadian borders Tim Hortons is beating the overall market share and revenue in the fast food industry. It was inevitable that the band has expanded beyond its borders to make a mark in the fast food industry

With the expansion of the product selection and more stores opening in Canada, Tim Hortons eventually made the decision to expand their franchise and make their mark in American borders. In the year 1984 Tim Hortons entered the borders of New York as they opened the first United States Tim Hortons restaurant in Tonawanda, New York (Tim Hortons, 2015). The restaurant chain eventually expanded into the following states of Ohio, Michigan, Maine, Kentucky, West Virginia, Indiana, Maryland, Virginia and Pennsylvania. With this restaurant being the largest chain in Canada, the company decided to expand the franchise into other borders as well to be more of a global franchise.

Since its conception the brand extended its food menus, added new programs like specialty coffee, ice cream and expanded its presence beyond Canada to the United States and Middle East. Between both Canada and the United States of America there are over 4,000 franchises that are scattered around the two countries. Exhibit 1.1 shows the increasing numbers of franchises that have opening in the United States and Canada over the years along with sales growth. There were only 3,148 Tim Horton’s in Canada and 602 restaurants in the United States in 2010 (Statista, 2015). With these high numbers of stores the growth of sales have been really taking off within the past ten years.

Even though the company gained so much it did have its down fall in the year 2010 when a decision was made to close “more than 50 U.S. locations spread throughout Connecticut, Rhode Island and Massachusetts” (Sturgeon, 2014). That was a minor decline within the company in the years 2007 and 2008 but Tim Hortons still continued to grow as a company in the US just opened store in other locations. It’s even made an appearance into the Middle East, “opening locations in the United Arab Emirates in 2011” (Sturgeon, 2014). Tim Hortons officially opened its first store in the Middle East in Kuwait. “In all its plans to expand its partnership in the Middle East to 120 multi-format restaurants in the United Arab Emirates, Qatar, Bahrain, Kuwait and Oman” (Sturgeon, 2014).

Since the opening in the UAE locations, focuses on the growth in the cities of Dubai and Abu Dhabi as well as trying to expand more in the United States. The first drive thru location opened in Abu Dhabi in the Middle East as well as and the company also started their expansion by opening a location in Oman.

According to Globe and Mail article the owner of the company is planning to borrow the expansion “playbook” from the sister chain Burger King to continue their growth internationally. Tim Hortons officially merged with Burger King which has increased their market share. “The transaction creates Restaurant Brands International, a new global quick service restaurant leader operating two iconic, independent brands” (Sturgeon, 2014). Industry Minister, James Moore

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made a claim that, “the result of this transaction is this new global company with sales more than $23 billion annually” (Sturgeon, 2014). From Exhibit 1.2, Tim’s Tie-up Table, it is clear see that it is a dramatic increase with the merge of Burger King and Tim Hortons in their annual profits, yearly sales and has almost doubled in locations with the merging of the two fast food chains.

Tim Horton’s claims to be the fastest growing restaurant brand. They attribute all of their growth to franchising. They have been successful in franchising since the beginning and continue to see their success in franchising to this day. Many of their original franchises are still around and they believe this is how they were able to expand restaurant by restaurant.

“Tim Hortons is proud of its many dedicated Franchisees who exemplify and execute Tim Hortons' principles and standards of operations each and every day. Through their overwhelming commitment to the business and the chain's dedication to exceptional quality, value, cleanliness, guest service and community leadership, Tim Hortons has become Canada's largest coffee and baked goods chain with a growing presence in the United States” (Tim Hortons 2015).

Section 2

Market Penetration & Competition

Tim Hortons is the leading Canadian company in the Quick Service Restaurant industry (QSR). They hold 27% share of all revenue in the QSR industry, which is expected to continue growing in the next few years (Tim Hortons, 2015). Tim Hortons also hold 62% of Canadian coffee market (Tim Hortons, 2015). Tim Hortons’ Canadian competition, includes, Starbucks, Dunkin Donuts, Second Cup and McDonalds. When Tim Hortons first opened, they sold only coffee; they eventually extended into new markets by selling doughnuts, as well as breakfast and lunch meal items. Tim Hortons sells approximately 2 billion cups of coffee annually (Tim Hortons, 2015). They have very strong brand awareness and recognition in the market; according to the Tim Hortons official website, 95% of the Canadian population is aware of the company and 79% find it to be the most convenient quick service restaurant (Tim Hortons, 2015).

As their transition to the United States has been a slower and more difficult process than excepted, the U.S numbers are not as strong compared to those in Canada. Tim Hortons has encountered a few problems when entering the U.S. market, their biggest weaknesses include the lack of brand awareness, lack of customer loyalty and lack of consumer preference. According to Bloomberg Business, Tim Hortons has a U.S. market share of 2.7% in the QSR industry (Murphy, 2013). In the U.S., Tim Hortons’ top main competitors are Starbucks and Dunkin Donuts in the doughnut and coffee industry. Both competitors have many more locations scattered all over the country, and much stronger brand awareness. Most American consumers would choose the bigger, and more well-known competitors over Tim Hortons’ coffee.

Location

Tim Hortons has more than 4,848 restaurants located all over the world, most notably in their country of origin, Canada, where there are approximately 3,879 Canadian stores (Tim

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Hortons, 2015). See map Exhibit 2.1 for visual representation of Canadian locations. Tim Hortons stores are spread out through the region with only 13 percent of the Canadian population unable to access a Tim Hortons in their area (Tim Hortons, 2014). Those in Canada that do have access to Tim Hortons will buy their coffee 8 out of 10 times, further showing that they are the top competitor in the Quick Service Restaurant industry. There are 804 United States locations and 19 locations in the United Arab Emirates, where Tim Hortons plans to add more stores and expand in those markets (Tim Hortons, 2015). Many of the stores are strategically placed in highly populated, urban areas as well as near the U.S. border while they continue to break into the American market. As the company continues grow globally, Tim Hortons plans to expand beyond the United States and the United Arab Emirates in the future.

This future expansion is an integral part of Tim Horton’s long lasting success. The overwhelming amount of Tim Horton’s locations in Canada has the company not only competing with establishments like Starbucks and Second Cup but also losing sales due to cannibalism of their own stores. Exhibit 2.2, displays the number of Tim Hortons store locations, in Vancouver, Calgary and Toronto versus, their main competitor, Starbucks number of stores in the same areas. Tim Hortons is known to have the largest number of stores in Canada out of all of the competitors.

Target Market

Tim Hortons’ main target market consists of men, women and families in the upper middle class. These consumers are usually everyday customers, who choose Tim Hortons for their daily cup of coffee. These consumers are busy, working professionals or students, looking for a quick cup of coffee or on the go meal. Their consumers typically go to the same location every day, and purchase the same order of coffee along with a meal. Most of the consumers are extremely loyal to the Tim Hortons brand and prefer it over the competition in the area, such as Starbucks. They are price conscious and do not want to over spend as they purchase the product every day. Health is a concern for most people in this market, according to Tim Hortons, 71% of their consumers believe that healthfulness of food is important when dining out, and 52% are more likely to go to restaurants with healthier options (Tim Hortons, 2014). In order to satisfy those needs, Tim Hortons provides their consumers with healthy and nutritious breakfast and lunch options. In an effort to understand their consumers better, Tim Hortons tracked their usage over a 4-week period during the end of quarter 3 in 2013. The results, pictured below in Exhibit 2.3, show that the majority of sales come from consumers between the ages of 35 and 49, whom tend to be more female than male (Tim Hortons, 2014). The company has an extremely broad customer base, but these experiments give the company a closer insight into who is purchasing their products.

In an effort to reach their target market, Tim Hortons stores are placed strategically between highways and in urban areas. To reach those who are on their way to-and-from work, running errands or have a quick minute in their busy schedule. Many locations are also drive thru accessible to give consumers even more convenience. It is extremely important for Tim Hortons to continue to get a better understanding of their consumers as they expand globally and come into contact with many different types of customers. Learning who the consumers are, and what

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their motives for purchasing the products is, will allow Tim Hortons to target the right people and have an easier transition as they expand into new countries.

Section 3

Demographics

The Canadian population of 34.8 million in 2014 and average household size is 2.5. The majority of the age population ranges between the ages of 45-54 years old in both males in females with males being the more populace (Government of Canada). By July of 2015, Exhibit 3.1 shows that the population of Canada grew by almost 1 percent. More than half of this growth is attributed to international migration. The number of people above the age of 65 is larger than children between ages 0 to 14 years old. Those who are older tend to have some form of loyalty to brands therefore it is harder for competitors to grab the competition.

America’s population was estimated at approximately 318.9 million people as of 2014. This number has been rising at an estimated rate of one percent per year. The median age of the population is 37.3 years old. The United Arab Emirates estimated that the country’s total population was 9,445,624 as of mid-year 2014 and the median age is 30 years old. 85.5% of the population are in urban areas. 61.38% of the populous are between the ages of 25 and 54 years old, with over 75% of this segment being men. (CIA 2015) Exhibit 3.2 shows the currency exchange rates between the international countries that Tim Hortons has locations in and the host country.

Legal

Tim Hortons was sued by the franchise owners for $2 billion dollars in 2012 because the company campaigned their doughnuts as “always fresh” meaning that they would be made in the stores. Franchisees were actually forced to “buy flash-frozen partially baked items from a centralized plant and finish baking them in the store” (Mcinnis, 2012). This method actually cost the franchises twice as much as compared to bake them fully in the stores. Tim Hortons needs to make sure that if they advertising one proposition while the supply chain is not cooperating. When entering a new market or increasing brand awareness, false advertising is not the kind of publicity a brand needs.

The ‘Roll Up the Rim to Win’ is an annual contest created by Tim Hortons in 1986 to promote the sale of coffee in the spring where customers can win prizes. There have been scandals over the validation of prizes. In 2009 two winners were refused their prizes due to that the rims were improperly ripped off (Weisblott, 2014). There have been several cases of this along with rumors that the small cups had less of a chance to produce winners. In the international markets, the rules and conditions will need to be clearly states and how to correctly claim a prize. The prizes also must be acceptable and compatible with the host country. For example a sports car may not be useful to those in Nicaragua because their roads tend to be dirt than paved.

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Culture Adaptively

“Tim Hortons is also very active in menu innovation and new product developments in order to compete for foodservice value share and capture a wider consumer base” (Tim Hortons Inc in Consumer Foodservice Canada, 2015). In 2013, Tim Hortons offered a new dark roast coffee blend which is only offered in certain locations in the United States and Canada. The company constantly experiments with new coffee flavors to retain customers. Foreign markets have different tastes in coffee and foods than the Canadian market such as the UAE’s use of Nutella. Adapting to these differences will be a fun challenge to the company. Since Tim Hortons uses consumer insights to change their products and create new ones, they shouldn’t have too many difficulties in new markets.

Tim Hortons has established international relations philosophy, strategy, and programs that relate to the local customers of a market. The company must “be sustainable, have a clear benefit, be community based and must be supported but the Aboriginal community” (Tim Hortons, 2015). The four key areas of focus to their guiding principles of aboriginal relations framework are education, empowering youth, economic development and employment.

Section 4

Domestic Market

In 2011, the Tim Hortons brand began to expand internationally, developing their franchise in the United States, Saudi Arabia, Kuwait, and Oman also known as the United Arab Emirates. Along with expanding internationally the brand has been making headway into strengthening their brand within their border. Within each of these countries, the marketing strategy has been simple but insightful, in how to compete against other brands, like McDonalds, Starbucks, and Dunkin’ Donuts.

Within their own borders, Tim Hortons has received huge success from their marketing campaign, using their own employees to help gain interest in the personal brand as described in an article from Strategy.

“The brand’s biggest advocates were its franchise owners, and its biggest growth mechanism was its quickly expanding footprint. It was an “of the community” brand, with a small-town feel that was incredibly popular through to the ’90s. When it brought on board its AOR JWT (then Enterprise, prior to a merger), the company was really propelled forward as an iconic Canadian brand, rolling out its well-known “True Stories” campaign in 1995, featuring iconic tales of Canadians and their love for a Double-Double, such as “Lillian,” which featured a little old lady who trekked across the city each day simply to get a cup of coffee” (Haynes, 2014).

In 2014, their advertising campaigns involved NHL player, Sidney Crosby at the beginning of a period before the puck drops having spectators in the bleachers, “jump the board” to come onto the ice, fashioning the Tim Horton’s brand on their jerseys, filling half the ice rink, while the caption appears on the screen “Nothing brings Canadians together like a good ol’ hockey

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game.” Followed by the Tim Hortons name and slogan “Proud to be a part of our game”, referring to Canada’s favorite sport hockey (Tim Hortons, 2015). By relating the brand to Canada’s favorite sport, hockey and having Sidney Crosby as a spokesperson they make Tim Hortons more relatable, and appear to be more of a mom and pop place as oppose to any other franchise.

United States Market

Crossing the border over into the United States, Tim Hortons has taken a different approach to their marketing strategy. With just over 800 stores in 18 states the brand has done considerable well, refer to appendix and Image 1.1 to see where Tim Hortons stores are located within North America along with its competitors. Despite geographical locations of the stores, the company still struggles with these aspects (Restaurant International Brands, 2015). One factor against the brand is that the majority of the United States population has become more health conscious. In an article from USA Today in 2014, Christopher Muller a professor at Boston University’s School of Hospitality Administration, was quoted saying, “even Dunkin' Donuts has evolved its focus away from doughnuts and towards coffee. That's one reason why the Krispy Kreme chain has shrunk and other regional doughnut chains have disappeared…” (Horovitz). This along with the fact that Tim Hortons brand competing against other franchises such as Dunkin’ Donuts, Starbucks, McDonalds, & Krispy Kreme has led to a struggling marketing campaign in the United States. Focusing on appealing to customers through coffee seems to be Tim Hortons best marketing approach, with customers favoring their Dark Roast and Ice Brewed Coffee, and is the brands highest driven product. With their plan to open up 300 new restaurants by 2018, it seems the brand has taken a step back by retrenching the brand, closing a few stores in Maine, and New York (Tencer, 2015). Often time’s companies will do this to cut cost, and have financial stability, revamping interior operations before going back out to the market again. However, the Tim Horton’s company has been very quiet about their future plans in the U.S. market, after these multiple closings on November 20, 2015.

United Arab Emirates Market

In the UAE, consisting of Saudi Arabia, Kuwait, and Oman Tim Hortons is still trying to position and develop the brand but regardless has managed to keep 71 stores open within that region (Restaurant International Brands, 2015). With Nutella based products appealing to the group of customers within the area, it is hard for some customers to distinguish between Tim Hortons and other leading competitors like Dunkin Donuts and Starbucks (Brownell, 2014). Another factor that is hard for Tim Horton’s marketing strategy going abroad to the Middle East, is being able to relate to their potential customers with sentimental, hockey loving, Canadian homey advertisements, and products when most of that market have probably never seen a hockey game. However, Franchise Consultant Douglas Fisher believes that,

“The Middle East may have greater potential, because the chain offers a fresh concept for people there, said Fisher, who has done work for both Tim Hortons and McDonald’s. The

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Middle East is dying for and developing as many North American concepts as they can,” Fisher said (CBC News, 2014).

This shows how the Middle East is trying to become more familiar to the North American culture. By doing so this will help bridge the gap among countries and allow more solidarity within a business world by having a basic platform of one another’s dynamic cultures.

Section 5

Conclusion

Our team believes that Tim Hortons has been moderately successful to the corporation’s global marketing strategy for the reason that they been able to open in so many different locations all over the world. In Canada they are strong due to the familiarity of Tim Hortons brand and their convenient locations but weak comparatively in their international markets. After their formation with Restaurant Brands international, they have paid more attention to their overseas markets, mainly they took advice from their sister brand Burger King. The company has good philosophies and policies when going into a foreign market.

The company knows that they have to change their menu in different to attract the customers to come in the store. Since the ability to change is essential for success in global marketing strategy, the company has to change and modify their product so that company can be popular. Tim Hortons does a good job in consumer insights pertaining to modifying to their existing products and creating new product lines for target markets. In conclusion, Tim Hortons has the capability of improving their brand internationally through their innovative menu and Canadian essence.

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Appendix

Exhibit 1.1

Number of Tim Hortons Restaurants in Canada and United States from 2007- 2013 (Him Hortons 2014)

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Exhibit 1.2

Tim’s Tie-Up Table (Sturgeon, 2014)

Exhibit 2.1

Tim Hortons Locations in the United States and Canada (Google, 2015)

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Exhibit 2.2

Comparison between Starbucks and Tim Hortons franchise stores (Melanson, 2015)

Exhibit 2.3

Demographics of Tim Horton’s customers (Tim Hortons, 2015)

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Exhibit 3.1

Population Estimates of Canada in 2015 (Government of Canada, 2015)

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Exhibit 3.2

Current Foreign Currency Exchange Rate (UTC, 2015)

Currency ComparisonCAD $1 AED 2.70USD 0.7363

Exhibit 4.1

Locations of Tim Hortons and its competitors in the United States and Canada 2014 (Hardy, 2014)

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Works Cited

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Bouw, Brenda. How Tim Horton’s battles the impersonal and cold world. Marketing. February 20, 2015. November 21, 2015. < http://www.marketingmag.ca/brands/how-tim- hortons-battles-the-impersonal-and-cold-world-138472 >

Brownell, Claire. Tim Hortons takes on the world: How going global could change the soul of Canada’s coffee chain. Financial Post; Retail & Marketing. August 30, 2014. November 21, 2015. < http://business.financialpost.com/news/retail-marketing/tim-hortons-takes-on-the-world-how-going-global-could-change-the-soul-of-canadas-coffee-chain >

CBC News. Tim Hortons plans 800 more restaurants; Canadian doughnut chain lays out 5-year plan to win coffee wars. February 25, 2014. November 21, 2015. < http://www.cbc.ca/news/business/tim-hortons-plans-800-more-restaurants-1.2550508 >

CNW Group. Tim Hortons helps guests stick to New Year’s resolutions with new “Balanced Options” nutrition platform. Yahoo Finance. Tim Hortons. January 8, 2015. December 5, 2015. < http://finance.yahoo.com/news/tim-hortons-helps-guests-stick-130000538.html >

Hardy, Ian. Inside Timmies. March 19, 2014. November 21, 2015. < http://insidetimmies.com/2014/03/19/heres-a-map-of-tim-hortons-coffee-competitors-in-the-united-states/ >

Haynes, Megan. Overall brand if the Year: Tim Hortons. Strategy. October 10, 2014. November 21, 2015. < http://strategyonline.ca/2014/10/10/overall-brand-of-the-year-crowning-tim-hortons/ >

Horovitz, Bruce. Can Tim Hortons win over U.S. market? USA Today, Money. August 26, 2014. November 21, 2015. < http://www.usatoday.com/story/money/business/2014/08/25/burger-king-tim-hortons-fast-food-restaurants/14568629/ >

Hortons, Tim. Jump the Boards with Sidney Crosby & Tim Hortons. Youtube.com. January 6, 2014. November 21, 2015. < https://www.youtube.com/watch?v=eio_1yOjeYU >

Lum, Zi-Ann. Tim Horton’s U.S. stores finally seeing ‘Momentum’. Huffington Post. April 28, 2015. November 21, 2015. < http://www.huffingtonpost.ca/2015/04/28/tim-hortons-stores-us-americans_n_7165294.html >

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Restaurant International Brands. Third Quarter 2015. October 27, 2015. November 21, 2015. < http://investor.rbi.com/~/media/Files/B/BurgerKing-IR/presentations/earnings-presentation-27-10-2015.pdf >

Strauss, Marina. Tim Horton’s borrows Burger King’s global expansion plan. The Globe & Mail. March 26, 2015. November 21, 2015. < http://www.theglobeandmail.com/report-on-business/international-business/tim-hortons-borrows-burger-kings-global-marketing-plan/article23649354/ >

Tencer, Daniel. Tim Hortons abruptly shuts multiple U.S. locations. Huffington Post Canada. November 20, 2015. November 21, 2015. < http://www.huffingtonpost.ca/2015/11/20/tim-hortons-shuts-us-locations-no-warning_n_8612468.html >

Murphy, Lauren. "Tim Hortons Doughnuts Fail to Score in U.S." Bloomberg.com. Bloomberg, 18 July 2013. Web. 2 Dec. 2015.

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**Someone please cite these if we haven’t already:

http://news.nationalpost.com/news/canada/tim-hortons-lawsuit

http://o.canada.com/business/roll-up-the-rim-to-drama

http://public.thecorporatelibrary.net/annual/ar_2011_108824.pdf

http://torontolife.com/food/bakeries-and-cafes/parbake-lawsuit-fails/

http://www.statista.com/statistics/291536/number-of-restaurants-north-america-tim-hortons/

http://www.theglobeandmail.com/report-on-business/international-business/tim-hortons-borrows-burger-kings-global-marketing-plan/article23649354/

http://www.timhortons.com/us/en/social/aboriginal-relations.php

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https://www.qsrmagazine.com/competition/tim-hortons-must-win-battle

https://www.timhortons.com/ca/en/corporate/tim-hortons-celebrates-opening-in-kuwait.php

Backcountry Canada Travel. Canadian Currency- Canadian Money. 2015. November 11, 2015. < http://www.backcountrycanadatravel.com/canadian-currency/ >

Bank of Canada. Life Cycle Assessment (LCA). Bank of Canada. November 11, 2015. < http://www.bankofcanada.ca/banknotes/bank-note-series/polymer/life-cycle-assessment-lca/ >

Euromonitor International. Fast food in Canada. Passport. 2015. November 10, 2015. < http://0-www.portal.euromonitor.com.enterprise.sacredheart.edu/portal/analysis/related >

Euromonitor International. Fast food in United States. Passport. 2015. November 10, 2015. < http://0www.portal.euromonitor.com.enterprise.sacredheart.edu/portal/analysis/related >

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Riggs, Trisha. Emerging Trends Canada: Calgary, Edmonton are top markets to watch. Urbanland. 7, January, 2015. November 11, 2015. < http://urbanland.uli.org/economy-markets-trends/emerging-trends-2015-calgary-edmonton-top-markets-watch/ >

http://news.nationalpost.com/news/canada/tim-hortons-lawsuit

http://o.canada.com/business/roll-up-the-rim-to-drama

http://public.thecorporatelibrary.net/annual/ar_2011_108824.pdf

http://torontolife.com/food/bakeries-and-cafes/parbake-lawsuit-fails/

http://www.statista.com/statistics/291536/number-of-restaurants-north-america-tim-hortons/

http://www.theglobeandmail.com/report-on-business/international-business/tim-hortons-borrows-burger-kings-global-marketing-plan/article23649354/

http://www.timhortons.com/us/en/social/aboriginal-relations.php

https://www.qsrmagazine.com/competition/tim-hortons-must-win-battle

https://www.timhortons.com/ca/en/corporate/tim-hortons-celebrates-opening-in-kuwait.php

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CIA: UNITED ARAB EMIRATES. (2015, November 19). Retrieved December 8, 2015, from https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html

Sturgeon, J. (2014, August 25). With Burger King’s help, Tim Hortons poised to go global. Retrieved December 8, 2015, from http://globalnews.ca/news/1525221/is-tim-hortons-about-to-

go-global/

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