Tim Hortons to Partner with Vets

Bakery-café chain Tim Horton has announced it is now participating in the International Franchise Association’s (IFA) Veterans Franchise Initiative (VetFran) to provide financial incentives to qualified veterans to help them get in business, according to a press release distributed Thursday. Incentives include a waived initial franchise fee for qualifying veterans’ first restaurant and a 2.6 percent reducing in royalty payments for the first 12 months of operation. Veterans interested in franchising under the Operator Agreement will also receive a 2.5 percent reduction in royalty rates as well as a waived security deposit. Mike Meilleur, Executive Vice President of Tim Hortons U.S., said in the release that hiring veterans benefits both parties. "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," he said. Tim Hortons had 734 U.S. restaurants as of July 1, including six on five military bases. For more information about franchising opportunities with Tim Hortons.