“Tim Hortons is number one coffee in Canada and expanding worldwide,” Therese adds. “We follow the standards 100%, and we know we have a strong partner behind us, from marketing and brand guidance to banking that understands how to grow a franchise.”
When Therese Karim and her husband Robert Ghaby set their sights on building a family business in Canada, they knew exactly where they wanted to start: Tim Hortons®. For Therese, who first came to Canada in 1990 and later spent years working and travelling internationally, the decision represented a focus on planting new roots, through a Canadian brand they loved.
“We have always loved Tim Hortons: the pace, the culture, the way guests are served,” says Therese. “We fell in love with the brand. And we wanted to build something our children could be proud of.”
From the beginning, Therese and Robert chose a Canadian banking partner aligned to their vision. Other Tim Hortons owners pointed them to Scotiabank's Franchising Specialists. Since then, their relationship with the bank, including with a Scotiabank Business Advisor, has grown significantly and in turn, so has their franchise business. By providing tailored lending, cash management tools, and holistic banking solutions designed specifically for franchise operations; Scotiabank has been there for the journey so far and stayed ready for what’s next.
A fresh professional dream
“Hard work and sacrifice built this. We started with nothing, and today we have a strong portfolio and a bright future — with Scotiabank by our side every step of the way.”
Before they became franchisees in 2011, Therese and her husband didn’t have any foodservice industry experience. Until then, Therese had worked for years with the United Nations, travelling frequently, while Robert specialized in automotive parts. But an eagerness to build their own business and a passion for the Tim Hortons brand has led them to grow significantly.
It all started with a brand-new location in Laval, Quebec. “It was a fresh start for everyone,” Therese recalls. “We built the team, trained together, and focused on delivering an excellent guest experience.”
From the earliest days of their entrepreneurial path, the pair worked with Constantina Ioannou, Senior Manager, National Franchise Distribution at Scotiabank. “From day one, their story has been defined by dedication, passion, and perseverance—three words that perfectly describe Robert and Therese,” she says.
The result was a standout first year, hitting almost $2 million in sales.
From there, the momentum built. An opportunity in 2012 led them to acquire three West Island-area locations in Montreal that had strong potential, plus the bonus of being closer to the couple’s home. “We always wanted this to be a family run‑ business,” Therese says.
Together, Therese and Robert rebuilt processes, strengthened operations, and quickly turned the locations into top performers in the region. In 2017, they added another high-volume Montreal location, and in 2022, purchased a small downtown location and another in Kirkland that they saw as poised for growth. By then, their children Tamara, Elia and Mark Ghaby had joined the business, helping establish a nimble operations team, including a general manager and dedicated operational staff.
Banking built for franchise growth
As their footprint expanded, so did the need for banking solutions designed for the realities of franchising such as acquisitions and renovations. They needed solutions to support them, including evolving Credit Lines, Payments & Merchant Services, and day-to-day cash flow management across multiple locations. Scotiabank’s franchise program delivered, offering comprehensive business banking solutions and advice tailored to their franchising needs.
Strong relationships with Constantina, along with Scotiabank Business Advisor, Beatriz Bolivar and David Mahchade, Franchise Specialist for Quebec, have played a big part in their growth story. “Our advisor helped us set up everything for the new stores,” Therese says of Beatriz. “She guided us through the documentation, provided advice, and made sure each transaction went smoothly. The experience was very personalized.”
Through Scotiabank’s franchise banking solutions, the couple has gained a number of advantages. That has included accessing tailored term loans to fund acquisitions and renovations across multiple stores and evolving lines of credit calibrated to each location’s needs.
That support was especially invaluable during a year of significant renovations and capital needs. “We took out three loans in the same year to keep the business moving,” Therese says. “Without the bank’s expertise and our advisor’s guidance, I don’t know what we would have done.”
Getting personal to plan the next chapter
“Our advisor helped us set up everything for the new stores. She coordinated with notaries, guided us through the documentation, provided advice, and made sure each transaction went smoothly. The experience was very personalized.”
As their franchise business matured, their Scotiabank Advisor referred them to the bank’s Wealth team, where a Wealth Specialist reviewed their complete portfolio and centralized all their personal financial needs.
The result is a holistic financial strategy that supports daily operations, growth capital and long-term family financial health- exactly what their multi-location franchise needs to thrive across generations
This is especially crucial because looking ahead, succession is certainly front and centre. Therese and Robert want to make sure their children inherit not just stores, but a strong financial foundation that remains growth ready
For Scotiabank’s Constantina, thinking holistically was always part of the plan. “Their vision extended beyond personal success—they aimed to create a lasting legacy for their children,” she says. “This was always part of our conversations.”
And for Scotiabank, the partnership has been fruitful both ways, with Therese and Robert recommending other families to the bank. “Robert and Therese exemplify what it means to be true professionals—passionate, community-oriented, and dedicated to building a future for the next generation,” Constantina says. “We are proud to have been part of their journey and look forward to continuing to support their success.”
Therese and Robert’s Advice to Other Franchise Owners
- Love the work and be present. Hands-on leadership is the engine of success.
- Build structure early. Clear processes make multi‑location operations scalable.
- Focus on the guest experience: speed, consistency, and cleanliness.
- Leverage the franchise model. Follow the brand standards and tap into its support.
- Diversify your financial foundation. Separate operating companies, consider a holding company and trust when appropriate, and plan for intergenerational transfer.
- Surround yourself with specialists. Bank with advisors who understand franchise metrics, cash cycles, and growth financing.
- Plan for the next decade now. Work with a bank that has strong collaboration between business and personal wealth strategies.
At Scotiabank, we work with you to help meet the practical financial needs you encounter in the daily operation of your franchise business.
Our Franchise Specialists work with a team of experts from across Scotiabank, to provide the tools and resources to meet your banking needs today and into the future. Our commitment is to provide integrated solutions to help you meet the challenges you face as you carry out your vision.
Speak to a Franchising Specialist today franchising@scotiabank.com
And, if you’re not yet a franchise owner but are considering it, learn more in The Franchise Commitment: Scotiabank Guide to Choosing a Franchise.
