THREE new drive-through restaurants are to be established in Scotland after Tim Hortons franchise company, Pizza Cake, secured a multi-million pound funding package from HSBC UK.
The restaurants will provide 100 new jobs in central Scotland in management, baking and customer service roles.
The HSBC UK funding, which consists of new finance and a debt refinance, will be used by Pizza Cake to secure prime locations and fund fit-out costs.
The first restaurant is set to open tomorrow in Stenhousemuir, with plans to open two additional locations in 2019.
Pizza Cake owners Graeme and Lisa Tobias are highly experienced, having operated Domino’s Pizza franchises in the west of Scotland and Northern Ireland for 14 years.
The pair will use some of the HSBC UK funding to support the continued growth of their Domino’s franchises, with plans to open two new restaurants in Scotland in the next year.
Graeme commented: “Tim Hortons has a fantastic reputation for providing great coffee and quality quick service food so we’re really excited to be the business’s first UK franchisee.
“Lisa and I turned to HSBC UK for support because we wanted to work with a bank with a strong track-record in funding franchise operators.
“The bank’s team were able to get under the skin of our business and provided the support we needed to fund the future growth of both our restaurant businesses.”
Tim Hortons is a Canadian fast food restaurant that is best known for its coffee and donuts. The company opened its first Tim Hortons in the UK in Glasgow in 2017.
Grant Bett, relationship director at HSBC UK in Scotland, said: “Graeme and Lisa run a successful franchise business in Scotland and Northern Ireland and are quick to act on opportunities for growth.
“We’re keen to support strong franchise businesses in Scotland and have a lot of expertise in providing funding packages that work for franchise growth and expansion plans. We look forward to seeing Pizza Cake bring new Tim Hortons and Domino’s locations to Scotland over the next year.”
Source: The National