hi I’m Evan Carmichael welcome to
another edition of modeling the masters
today we’re going to look at Ron Joyce
the man behind the multi-billion dollar
franchise Tim Hortons Ron Joyce is a
Canadian multi-millionaire businessman
he co-founded the Tim Hortons doughnut
chain as Tim Hortons partner and first
franchisee Joyce grew up in rural Norva
Scotia in a house without plumbing and a
wood stove for heating when he was three
years old his father died leaving his
mother to take care of the family on
welfare when he was 16 years old he left
home with his life savings of
thirty-five dollars to try his luck in
the real world after spending time in
the Navy he returned home to start a
Dairy Queen franchise and also joined
the police force where he met Tim Horton
Horton was a Canadian hockey legend who
opened up a local coffee shop called Tim
Hortons the little shop was failing when
Joyce proposed forging a partnership and
bringing his expertise from Dairy Queen
to save it today Tim Hortons has over
3,500 locations
100,000 employees and two billion
dollars in revenues Joyce himself owns
at least four yachts donates millions to
charity and has so much money he has
even offered to fly people on trips
anywhere in the world if they can help
improve his golf swing how did Ron Joyce
get to where he is today he did it by
building a tiny coffee shop by the name
of Tim Hortons into one of Canada’s most
beloved and successful brands
so the next question becomes how can you
model the success of wrong choice here
are three action items that you can put
to use in your business today action
item number one match your talents with
your passion you can be really good at
something but not love it
you can also love doing something else
but not be really good at it to be
successful as an entrepreneur you need
to find the opportunity to combine what
you love doing with what you’re really
good at according to Ron Joyce I think
people who excel in anything are often
totally dedicated to it but are only
good at one thing I look at the great
athletes of all time like Michael Jordan
who went from basketball to baseball and
it didn’t work or Wayne Gretzky who
probably wouldn’t have been great at
anything but hockey are you like Michael
Jordan trying to play baseball by doing
something you love but aren’t really
good at if you’re struggling to get your
company to the next level try doing some
soul-searching to see if you’ve matched
up your talents with what you love doing
in the best way possible
action item number to treat your
franchisees as partners franchising can
be a great way to build a business
because you don’t need to fund it
yourself and you can create an army of
hard-working managers who have a self
interest in seeing you succeed however
franchising is not a bulletproof concept
and may fail when the franchisor is
don’t provide the right support to their
franchisees here’s Ron Joyce’s advice
it was my philosophy to treat the
franchise owners as partners he followed
through by creating a doughnut
University a central training facility
where new franchise owners could go to
learn the ropes of running the business
and operate in a fast-paced environment
he also established regular meetings a
toll-free phone line and field
evaluations to provide support to his
franchisees who’s willing to do whatever
it took to get his partner’s off the
ground and running the result today only
5% of the company stores are corporate
all the rest are locally and operated
owned franchises with average profit
margins ranging from 15 to 20% owning
the Tim Hortons franchise is a promising
venture in fact more than half of all
franchisees own more than one unit treat
your franchisees fairly and give them
the support they need to flourish and
they’ll build your business for you
action item number three create a unique
point of differentiation if you want to
send out and win business from your
competitors and you need to do things
differently from them if there’s nothing
different about you
why should customers choose you when
they’re probably more established
companies they could go with when joyce
took over tim horton’s he wanted to
stand out from all the other coffee
chains to do that joyce implemented a
new set of business practices that
focused on keeping things always fresh
you began to insist that all Tim Hortons
coffee pots be cleaned three times a day
and that no coffee be older than 20
minutes from the time the Brewers stops
dripping all grounds were also to be
thrown out immediately afterwards but it
didn’t just stop at coffee the
temperatures of all cheese products and
sandwiches were to be checked every
other hour as with soups donuts would
have a shelf life of no more than 8
hours and could also be made to order
bagels and other breads were also to be
sold for no more than 8 hours after they
were made while cookies danishes and
croissants could Google for up to 12
hours and only enough cakes for a given
day were baked in any store customers
began to come to Tim Hortons because
they knew they had the freshest products
available and sales soared what is your
unique point of differentiation is it
something that customers really care
about that makes you very different from
your competitors if not it’s time to go
back to the drawing board and create a
value proposition that’s worth betting
the company on
so remember match your passion to your
talents treat your franchisees as
partners and create a unique point of
differentiation I wanted to close the
video with one of my favorite true
stories about Ron Joyce
despite the fierceness will put you ran
his business and expanding his franchise
Ron Joyce strove to always play fair
once when a man applied for a Tim
Horton’s franchise and was turned down
he opened up a competing Robbins donut
store nearby and saw his business
explode this time around management of
Tim Hortons became interested in the man
and sought to open their own store
nearby Joyce had already left the
company by this point called his friends
inside the business and convinced him to
cancel their plans he said would be
unfair to open a store and put out a
business somebody hood once tried to be
a part of the Tim Hortons franchise team
thank you for joining me for another
edition of modeling the masters I hope
you enjoyed I’d love to hear your
feedback if you want to leave a comment
below the video and stay tuned to the
next episode
you
another edition of modeling the masters
today we’re going to look at Ron Joyce
the man behind the multi-billion dollar
franchise Tim Hortons Ron Joyce is a
Canadian multi-millionaire businessman
he co-founded the Tim Hortons doughnut
chain as Tim Hortons partner and first
franchisee Joyce grew up in rural Norva
Scotia in a house without plumbing and a
wood stove for heating when he was three
years old his father died leaving his
mother to take care of the family on
welfare when he was 16 years old he left
home with his life savings of
thirty-five dollars to try his luck in
the real world after spending time in
the Navy he returned home to start a
Dairy Queen franchise and also joined
the police force where he met Tim Horton
Horton was a Canadian hockey legend who
opened up a local coffee shop called Tim
Hortons the little shop was failing when
Joyce proposed forging a partnership and
bringing his expertise from Dairy Queen
to save it today Tim Hortons has over
3,500 locations
100,000 employees and two billion
dollars in revenues Joyce himself owns
at least four yachts donates millions to
charity and has so much money he has
even offered to fly people on trips
anywhere in the world if they can help
improve his golf swing how did Ron Joyce
get to where he is today he did it by
building a tiny coffee shop by the name
of Tim Hortons into one of Canada’s most
beloved and successful brands
so the next question becomes how can you
model the success of wrong choice here
are three action items that you can put
to use in your business today action
item number one match your talents with
your passion you can be really good at
something but not love it
you can also love doing something else
but not be really good at it to be
successful as an entrepreneur you need
to find the opportunity to combine what
you love doing with what you’re really
good at according to Ron Joyce I think
people who excel in anything are often
totally dedicated to it but are only
good at one thing I look at the great
athletes of all time like Michael Jordan
who went from basketball to baseball and
it didn’t work or Wayne Gretzky who
probably wouldn’t have been great at
anything but hockey are you like Michael
Jordan trying to play baseball by doing
something you love but aren’t really
good at if you’re struggling to get your
company to the next level try doing some
soul-searching to see if you’ve matched
up your talents with what you love doing
in the best way possible
action item number to treat your
franchisees as partners franchising can
be a great way to build a business
because you don’t need to fund it
yourself and you can create an army of
hard-working managers who have a self
interest in seeing you succeed however
franchising is not a bulletproof concept
and may fail when the franchisor is
don’t provide the right support to their
franchisees here’s Ron Joyce’s advice
it was my philosophy to treat the
franchise owners as partners he followed
through by creating a doughnut
University a central training facility
where new franchise owners could go to
learn the ropes of running the business
and operate in a fast-paced environment
he also established regular meetings a
toll-free phone line and field
evaluations to provide support to his
franchisees who’s willing to do whatever
it took to get his partner’s off the
ground and running the result today only
5% of the company stores are corporate
all the rest are locally and operated
owned franchises with average profit
margins ranging from 15 to 20% owning
the Tim Hortons franchise is a promising
venture in fact more than half of all
franchisees own more than one unit treat
your franchisees fairly and give them
the support they need to flourish and
they’ll build your business for you
action item number three create a unique
point of differentiation if you want to
send out and win business from your
competitors and you need to do things
differently from them if there’s nothing
different about you
why should customers choose you when
they’re probably more established
companies they could go with when joyce
took over tim horton’s he wanted to
stand out from all the other coffee
chains to do that joyce implemented a
new set of business practices that
focused on keeping things always fresh
you began to insist that all Tim Hortons
coffee pots be cleaned three times a day
and that no coffee be older than 20
minutes from the time the Brewers stops
dripping all grounds were also to be
thrown out immediately afterwards but it
didn’t just stop at coffee the
temperatures of all cheese products and
sandwiches were to be checked every
other hour as with soups donuts would
have a shelf life of no more than 8
hours and could also be made to order
bagels and other breads were also to be
sold for no more than 8 hours after they
were made while cookies danishes and
croissants could Google for up to 12
hours and only enough cakes for a given
day were baked in any store customers
began to come to Tim Hortons because
they knew they had the freshest products
available and sales soared what is your
unique point of differentiation is it
something that customers really care
about that makes you very different from
your competitors if not it’s time to go
back to the drawing board and create a
value proposition that’s worth betting
the company on
so remember match your passion to your
talents treat your franchisees as
partners and create a unique point of
differentiation I wanted to close the
video with one of my favorite true
stories about Ron Joyce
despite the fierceness will put you ran
his business and expanding his franchise
Ron Joyce strove to always play fair
once when a man applied for a Tim
Horton’s franchise and was turned down
he opened up a competing Robbins donut
store nearby and saw his business
explode this time around management of
Tim Hortons became interested in the man
and sought to open their own store
nearby Joyce had already left the
company by this point called his friends
inside the business and convinced him to
cancel their plans he said would be
unfair to open a store and put out a
business somebody hood once tried to be
a part of the Tim Hortons franchise team
thank you for joining me for another
edition of modeling the masters I hope
you enjoyed I’d love to hear your
feedback if you want to leave a comment
below the video and stay tuned to the
next episode
you
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