Tim Hortons' parent company released new financial figures on Tuesday for the coffee and doughnut chain's locations in Canada that appear to illuminate concerns raised by some franchisees about restaurant-level profitability.
said the average Tim Hortons restaurant in Canada made $220,000 last year in earnings before interest, taxes, depreciation and amortization , with the average franchisee owning four locations.
Restaurant profits are down due to recovering traffic post-pandemic, all-time high commodity cost increases and soaring inflation, he said. But Doyle said that "along the way, it's likely that a few people will leave the system and transition their restaurants to franchisees who share our long-term mindset for success and growth."
"If we can put together the combination of driving sales and traffic back into the restaurant, plus have some moderation in some of those , I think that's the formula ... to drive some meaningful improvement in franchise profitability this year."
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