New Tim Hortons exec.: We can tailor ourselves for China
I think the number one priority that’s been established by the executive team has been in the relationship that the restaurant owners so if you look at the business operates everyday operate restaurant like this hymns the epitome of a Canadian brand to being able to take a bit more of Canada into another country be able to design a restaurant that has some Canadian take me to Maple Leaf abroad or anywhere in the world it’s a great opportunity for the brand all around the world do you believe though that at the end of the day other people will want to come in and sit down and drink Tim Hortons coffee or will be the user experience the customer experience have to fundamentally change to become something distinctly Chinese to be a success first in the market that say listen have to stay this have to change have to be tailored for a local flavor have to be tailored for local do you want to be flexible if you’re in a market then wants to know it sure oh instead of a donut churro and that that happened to Peter wants to talk about that start with with this push into China I mean this is one of the biggest pushes you seen from any Canadian company in any industry into a foreign market like a 1500 stores over 10 years it is an enormous growth potential it comes with but if they can pull this off in normous growth potential Tim Hortons for RBI to be relevant for Canada and that is allowing the individual franchisees to use their expertise I mean in every response he had he was really messaging through that I think to the domestic franchisees to say we understand your value we know why you’re important we know you have the expertise in that we is the parent company need to be more flexible Liberty used to be under that clip and that’s the message that he needs to get cuz he needs to fix that relationship this is costing everybody not just the store owners RBI is making all kinds of profits but they should be making yet more and you look at RBI structure they own what like 18000 Burger Kings in 4500 Tim Hortons in Tim Hortons franchises bring in the earnings for that company at a very small fraction of the number concerted you something to move forward for example perhaps this idea that they’re going to launch at kids menu in these doors it’s it’s something they can do with the franchisees together that would be a positive experience wouldn’t be fighting over the bills for the paper in the towels at the used it would be something positive they can try to to find one positive thing one element that can use as a stepping stone towards fixing everything else every Tim Hortons I walk by every single one has a line up but I obviously can’t take their success for granted and Retail is littered with the ghosts of franchises that have taken that for granted and I talked to run one retail analyst to said look this is a great plan will be great to see if Tim Hortons can pull this off Sears had a plan to and look where it is now this despite his recent struggles Tim Hortons is still doing very well as Peter pointed out here in Canada it is way out ahead of its Chief competitor McDonald’s teams brought in almost 9 billion dollars and gross sales last year McDonald’s was in second there in about 5 billion Starbucks in third place grossing just under two billion dollarsNew Tim Hortons exec. Duncan Fulton says the company can tailor itself to succeed in China. His appointment comes as Tim Hortons faces scrutiny under its new ownership for a deteriorating relationship with Canadians. Fulton, who used to work with other iconic Canadian brands Canadian Tire and SportChek, believes that relationship can still be salvaged.
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