L-R: Graeme Tobias, owner of Pizza Cake and Grant Bett, relationship director at HSBC UK toast the new Drive Thru Tim Hortons in Stenhousemuir
The first Tim Hortons franchise company in the UK, Pizza Cake, is set to open three new Drive-Thru Tim Hortons restaurants in Scotland after securing a multi-million-pound funding package from HSBC UK.
The three new franchises will provide 100 new jobs to central Scotland to support the management, baking and customer service needs at the restaurants.
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 for the Tim Hortons restaurants. The first restaurant is set to open on Friday 14 December 2018 at 12pm at Unit 2, 44 Tryst Road, 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, and currently own 15 Domino’s restaurants. Graeme and Lisa will also 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 Tobias said: “Tim Hortons has a fantastic reputation for providing great coffee and quality quick service food so we’re really excited to be the business’ 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.”
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.”
Tim Hortons is a Canadian fast food restaurant that is best known for its coffee and doughnuts. The company opened its first Tim Hortons in the UK in Glasgow in 2017.
If you’re a small or medium sized business based in Scotland, you can now access a newly launched loan capital fund which is part of the Scottish Growth Scheme.
The £12m fund, part funded by the EU, helps accelerate the growth of businesses in Scotland, complementing other private and public sector forms of funding.
For more info and submit your interest visit www.begroupfinance.scot
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