Tims open single store to join! Hold back a big trick or no confession?
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On September 19th, Tims Tian Hao Coffee announced the official launch of the "Partnership Project" through the social platform, with the first joining regions in Shanghai and Beijing, with a small store model, namely Tims Go (Jiefeng Store).
Tims stores in China are generally not small, and there are three main types of stores, including flagship stores with an operating area of more than 150m2, classic stores with an area of 80-150m2, and "Tims Go" with "take-and-go" of 20-80m2.
This "partner project" is a single store to join. Before that, the joining strategy of Tims China was the combination of "city joining" and "KA joining". That is, to recruit only one city franchisee in a city, the franchisee should have rich qualifications and sufficient funds to open 15-20 stores. In this single store joining page, it is noted that the budget of Tims Go (Jiefeng Store) is 400000 yuan, while that of independent stores is 520000 yuan, including standard decoration, all kinds of equipment, furniture and other expenses. Brand franchise fees are charged according to the contract, and you can choose to pay 50, 000 in 3 years or 80, 000 in 5 years. In addition, 30, 000 one-time service fees, 50, 000 deposits, and 80, 000 fees for the distribution of the first batch of materials. If you want to join a TimsGo, you need at least 600, 000 yuan or more. But the operating cost of its restaurant is much higher than its income. According to the listing documents, Tims's food costs and staff costs are the two biggest expenses in catering operations. Under such circumstances, if you have invested 600000 yuan, it is difficult to get back the cost in the short term, and more money may be invested in the later period.
At present, the coffee track is still very hot, and many brands have opened the joining mode. for example, Ruixing only needs to invest about 40-500000 yuan in equipment decoration investment in the case of ensuring that it does not charge franchise fees and brand management fees. Kudi has the Coffee Dreamer Program, which costs only 30-600000 yuan to join. In contrast, the investment of only small stores in Tims is more than 600000 yuan, and there are more factors to be considered in the choice of franchisees.
Moreover, many complaints on the Internet, such as "poor internal management of stores", "employees without training", "indifference of shop assistants", "extremely chaotic dining", "poor hygiene" and "different standards in different stores" also reflect the deficiency in the management of tims, which is also a common problem in most franchise stores.
At 21:30 on September 29th, 2022, Canadian coffee brand Tims China (THCH.NASDAQ) officially landed on Nasdaq for listing. Tims spent three and a half years from entering China to landing on Nasdaq, with rapid development, but behind the rapid development, Tims China did not hand over a good-looking report card, with a cumulative loss of more than 600 million yuan in the past three and a half years. Although the consumer market has picked up after the outbreak this year, Tims wants to accelerate store expansion by promoting a differentiated competitive strategy. The opening of individual stores may also be a means to accelerate its sinking.
The first batch of Tims's "partner projects" are located in Shanghai and Beijing. But Shanghai has the largest number of cafes in the world, with about 8500 as of May this year. There are almost 4000 cafes in Beijing. With so many stores, Tims will continue to compete fiercely to open stores in Shanghai and Beijing. And Cudy and Ruixing have pulled down the price of coffee one after another, which has a great impact on other coffee brands and even independent coffee shops. The homogenization of coffee products in the coffee market is more serious, and the impact of price war on the whole industry is particularly obvious. What do you think of whether opening up to join now is a good thing or a bad thing?
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