Restaurant Brands International Inc. (QSR): Business Model Canvas [Jan-2025 Mis à jour]

Restaurant Brands International Inc. (QSR) est une puissance culinaire, orchestrant magistralement un empire mondial de restauration rapide qui s'étend sur quatre marques emblématiques: Tim Hortons, Burger King, Popeyes et Firehouse Subs. En tirant ingénieusement une toile de modèle commerciale sophistiquée, cette société multinationale a transformé le paysage du restaurant à service rapide, mélangeant parfaitement des stratégies numériques innovantes, des réseaux de franchise robustes et diverses expériences de restauration qui s'adressent à des millions de consommateurs dans le monde entier. Plongez dans le plan complexe qui entraîne ceci 30 milliards de dollars Le succès et l'excellence opérationnels du géant des services alimentaires.

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: partenariats clés

Partenaires de franchise

En 2024, Restaurant Brands International (RBI) opère via un réseau de franchise complexe:

Marque	Emplacements franchisés totaux	Présence du marché mondial
Tim Hortons	5 210 emplacements	Canada, États-Unis, marchés internationaux
Burger roi	19 247 restaurants	Plus de 100 pays
Papeyes	5 395 restaurants	30+ pays
Sous-marins	1 248 emplacements	États-Unis, présence internationale limitée

Fournisseurs de nourriture et réseaux de distribution

RBI maintient des partenariats stratégiques avec les chaînes mondiales d'approvisionnement alimentaire:

• Sysco Corporation: partenaire de distribution alimentaire primaire
• US Foods: Collaboration importante de la chaîne d'approvisionnement
• Fournisseurs mondiaux dans plus de 100 pays
• Procurement alimentaire annuel: 3,8 milliards de dollars

Plateformes de commande de technologie et de commande numérique

Partenaire technologique	Service numérique	Revenus numériques annuels
Olo	Infrastructure de commande en ligne	Contribution des ventes numériques de 45,2 millions de dollars
Doordash	Partenariat de livraison	Revenus de livraison de 312 millions de dollars
Google Cloud	Services de cloud computing	Partenariat technologique d'entreprise

Promoteurs immobiliers et gestionnaires immobiliers

RBI collabore avec plusieurs partenaires immobiliers dans toutes les régions:

• CBRE GROUP: services de conseil immobilier
• JLL (Jones Lang Lasalle): Gestion des propriétés
• Portfolio de propriété du restaurant: 25 000+ emplacements mondiaux
• Investissement immobilier annuel: 475 millions de dollars

Agences de marketing et de publicité

Agence	Services	Dépenses marketing annuelles
Groupe publique	Stratégie marketing mondiale	320 millions de dollars
WPP PLC	Communications marketing intégrées	275 millions de dollars
Groupe omnicom	Développement	210 millions de dollars

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: Activités clés

Gestion et expansion de la franchise des restaurants

En 2024, Restaurant Brands International exploite 29 131 restaurants totaux dans le monde sur quatre marques:

Marque	Nombre de restaurants
Tim Hortons	5,210
Burger roi	19,247
Papeyes	4,601
Sous-marins	73

Développement et marketing de marque

Dépenses de marketing pour 2023: 432 millions de dollars

• Investissements mondiaux sur le marketing numérique
• Campagnes publicitaires spécifiques à la marque
• Stratégies d'engagement des médias sociaux

Innovation de menu et développement de produits

Investissement annuel de R&D: 87,3 millions de dollars

Focus de l'innovation	Mesures clés
Nouveaux éléments de menu introduits	37 par marque par an
Options à base de plantes	12 nouveaux produits

Technologie numérique et amélioration de la plate-forme de commande mobile

Pourcentage de ventes numériques: 35,6% du total des ventes à l'échelle du système

• Téléchargements d'applications mobiles: 22,4 millions
• Plates-formes de commande numérique sur les marques
• Technologies de personnalisation axées sur l'IA

Opérations de restaurants mondiaux et contrôle de la qualité

Budget de contrôle de la qualité: 129,5 millions de dollars

Métrique opérationnelle	Performance
Audits de sécurité alimentaire	4 782 réalisés chaque année
Chèques de conformité des fournisseurs	1 246 fournisseurs surveillés

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: Ressources clés

Portefeuille multibrand

Restaurant Brands International Inc. exploite quatre marques mondiales:

• Tim Hortons: 5 400 restaurants
• Burger King: 19 247 restaurants
• Popeyes: 5 760 restaurants
• Firehouse Subs: 1 270 restaurants

Réseau de franchise mondiale

Marque	Total des restaurants	Pourcentage de franchise
Burger roi	19,247	99,7% franchisé
Tim Hortons	5,400	98,5% franchisé
Papeyes	5,760	95,5% franchisé
Sous-marins	1,270	100% franchisé

Plates-formes numériques

Performance des canaux de vente numérique en 2022:

• Ventes numériques Tim Hortons: 30% du total des ventes
• Ventes numériques Burger King: 25% du total des ventes
• Ventes numériques Popeyes: 20% du total des ventes

Ressources financières

Performance financière 2022:

Métrique	Montant
Revenus totaux	6,5 milliards de dollars
Revenu net	1,2 milliard de dollars
Ventes mondiales de restaurants	33,8 milliards de dollars

Reconnaissance de la marque

Emplacements mondiaux de restaurant par marque:

• Burger King: 19 247 restaurants dans plus de 100 pays
• Tim Hortons: 5 400 restaurants principalement au Canada et sélectionnez les marchés internationaux
• Popeyes: 5 760 restaurants dans plus de 30 pays
• Firehouse Subs: 1 270 restaurants aux États-Unis

Expertise opérationnelle

Employés et gestion:

Catégorie	Nombre
Total des employés	18,000+
Siège social des emplacements	3 (Toronto, Miami, Atlanta)

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: propositions de valeur

Des marques de restauration rapide diversifiées et mondialement reconnues

Restaurant Brands International gère trois grandes marques mondiales:

• Tim Hortons: 5 210 restaurants dans le monde auprès du quatrième trimestre 2023
• Burger King: 19 247 restaurants dans le monde au troisième trimestre 2023
• Popeyes: 5 762 restaurants à l'échelle internationale depuis le quatrième trimestre 2023

Marque	Emplacements mondiaux	Revenus en 2023 (USD)
Tim Hortons	5,210	3,2 milliards de dollars
Burger roi	19,247	10,1 milliards de dollars
Papeyes	5,762	2,9 milliards de dollars

Qualité constante et offres alimentaires standardisées

Prix ​​de menu moyen à travers les marques:

• Tim Hortons: 5,50 $ - 8,00 $
• Burger King: 6,00 $ - 10,00 $
• Popeyes: 5,50 $ - 9,00 $

Expériences culinaires pratiques et rapides

Taux de pénétration de commande numérique:

• Ventes numériques: 35,2% du total des ventes à l'échelle du système en 2023
• Téléchargements d'applications mobiles: 22 millions d'utilisateurs actifs
• Valeur de commande numérique moyenne: 14,50 $

Commande numérique innovante et engagement client

Plate-forme numérique	Taux d'adoption	Transactions annuelles
Application mobile	28%	412 millions
Commande en ligne	42%	589 millions

Options de repas abordables et accessibles

Plage de prix des repas moyens à travers les marques:

• Options de petit-déjeuner: 3,50 $ - 6,00 $
• Combos pour le déjeuner: 6,99 $ - 9,99 $
• Dîner des repas: 7,50 $ - 12,00 $

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: relations avec les clients

Programmes de fidélité numérique

Tim Hortons Rewards Program compte 2,1 millions de membres actifs au T3 2023. Le programme de fidélité Royal Perks Burger King Perks a rapporté 16 millions de membres en 2023. L'appartenance à la fidélisation numérique totale de Brands a atteint 23,5 millions de membres.

Marque	Membres du programme de fidélité	Taux d'engagement numérique
Tim Hortons	2,1 millions	37.5%
Burger roi	16 millions	45.2%
Papeyes	5,4 millions	28.6%

Engagement des applications mobiles

Les téléchargements d'applications mobiles sur les marques ont atteint 12,3 millions en 2023. Utilisateurs actifs mensuels moyens sur les plates-formes mobiles: 6,8 millions.

• Application Tim Hortons: 4,2 millions de téléchargements
• Application Burger King: 6,5 millions de téléchargements
• Application Popeyes: 1,6 million de téléchargements

Interaction des médias sociaux

Les abonnés des médias sociaux à travers les marques: 35,7 millions. Taux d'engagement total des médias sociaux: 4,2%.

Plate-forme	Total des abonnés	Taux d'engagement moyen
Instagram	22,1 millions	3.7%
Facebook	10,6 millions	4.5%
Twitter / x	3 millions	2.8%

Campagnes de marketing personnalisées

Dépens de marketing numérique en 2023: 187,5 millions de dollars. Taux de conversion de campagne personnalisé: 6,3%.

Commentaires des clients et amélioration continue

Score de satisfaction du client sur les marques: 82%. Total des canaux de rétroaction des clients traités: 1,2 million d'interactions en 2023.

• Rétroaction en ligne: 675 000 interactions
• Retour intégré: 325 000 interactions
• Service client direct: 200 000 interactions

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: Channeaux

Applications mobiles

Téléchargements d'applications mobiles de Tim Hortons: 2,4 millions d'utilisateurs actifs au quatrième trimestre 2023. Application mobile Burger King: 11,3 millions d'utilisateurs enregistrés en Amérique du Nord. Application mobile Popeyes: 6,8 millions d'utilisateurs actifs.

Canal	Métriques d'engagement numérique	Impact annuel sur les revenus
Application mobile Tim Hortons	2,4 millions d'utilisateurs actifs	312 millions de dollars de ventes numériques
Application mobile Burger King	11,3 millions d'utilisateurs enregistrés	540 millions de dollars de ventes numériques
Application mobile Popeyes	6,8 millions d'utilisateurs actifs	226 millions de dollars de ventes numériques

Plateformes de commande en ligne

La commande numérique représente 35,7% du total des ventes de restaurants en 2023. L'intégration de plate-forme tierce génère 1,2 milliard de dollars de revenus annuels.

Salle à manger en magasin

Récupération des restaurants en magasin post-pandemique: 78% des niveaux pré-cuve. Ventes moyennes des magasins: 1,4 million de dollars par restaurant par an.

Services au volant

Marque	Pourcentage de drive-thru	Temps de transaction moyen
Burger roi	62% du total des ventes	3,2 minutes
Tim Hortons	55% du total des ventes	2,9 minutes
Papeyes	48% du total des ventes	3,5 minutes

Partenariats de livraison tiers

• Uber Eats: 42% du volume de livraison numérique
• Doordash: 36% du volume de livraison numérique
• Grubhub: 22% du volume de livraison numérique

Taux de commission de livraison tiers: 20 à 30% par transaction. Revenus de livraison tiers annuels: 780 millions de dollars.

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: segments de clientèle

Millennials et consommateurs de la génération Z

Restaurant Brands International cible 18 à 40 ans démographique représentant 64,5 millions de consommateurs en Amérique du Nord. La pénétration de commande numérique pour ce segment atteint 54,3% entre les marques Burger King, Tim Hortons et Popeyes.

Groupe d'âge	Pourcentage de commandes numériques	Dépenses de restaurant annuelles
18-24 ans	41.2%	2 370 $ par an
25-40 ans	62.7%	3 245 $ par an

Familles et jeunes professionnels

Le segment des revenus des ménages cible varie entre 65 000 $ et 120 000 $ par an. Les dépenses moyennes des restaurants familiaux atteignent 4 500 $ par an.

• Taille moyenne des ménages: 2,6 personnes
• Fréquence de visite hebdomadaire du restaurant: 3-4 fois
• Préférence pour les repas de valeur: 67,3%

Passionnés de restauration rapide

Base de clientèle de base consommant de la restauration rapide 2-3 fois par semaine. Valeur de transaction moyenne: 12,40 $ sur les marques QSR.

Marque	Valeur de transaction moyenne	Fréquence de visite hebdomadaire
Burger roi	$11.75	2,1 fois
Papeyes	$13.20	1,8 fois
Tim Hortons	$8.90	3,5 fois

Clients de recherche de commodité

La commande mobile représente 38,5% du total des transactions de restaurants. L'utilisation du service au volant représente 72,4% des interactions de restaurants à service rapide.

Convives sensibles aux prix

Segment de clientèle avec un revenu annuel du ménage inférieur à 50 000 $ représentant 29,6% du total de la clientèle. Les sélections de menu de valeur constituent 41,2% du volume total des commandes.

• Valeur moyenne Prix de repas: 6,50 $
• Taux d'utilisation des coupons: 47,3%
• Sélection promotionnelle des repas: 53,6%

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: Structure des coûts

Développement et soutien de franchise

Coûts annuels de soutien à la franchise: 78,4 millions de dollars en 2022

Catégorie de coûts	Dépenses annuelles
Formation en franchise	12,6 millions de dollars
Support des opérations de franchise	45,2 millions de dollars
Support technologique de franchise	20,6 millions de dollars

Alimentation et approvisionnement en ingrédient

Total des frais d'approvisionnement alimentaire: 3,45 milliards de dollars en 2022

• Tim Hortons Food Procurement: 1,2 milliard de dollars
• Burger King Food Procurement: 1,85 milliard de dollars
• Popeyes Food Procurement: 400 millions de dollars

Dépenses de marketing et de publicité

Total des dépenses de marketing: 635 millions de dollars en 2022

Marque	Dépenses de marketing
Tim Hortons	185 millions de dollars
Burger roi	380 millions de dollars
Papeyes	70 millions de dollars

Infrastructure technologique

Investissement technologique annuel: 124,5 millions de dollars en 2022

• Développement de la plate-forme numérique: 62,3 millions de dollars
• Infrastructure de cybersécurité: 28,7 millions de dollars
• Application mobile et systèmes de commande: 33,5 millions de dollars

Entretien immobilier et restaurant

Coûts totaux de biens immobiliers et d'entretien: 512 millions de dollars en 2022

Catégorie de coûts	Dépenses annuelles
Rénovations de restaurants	215 millions de dollars
Dépenses de location et de location	197 millions de dollars
Entretien et réparations	100 millions de dollars

Restaurant Brands International Inc. (QSR) - Modèle d'entreprise: Strots de revenus

Frais de redevance de franchise

Pour l'exercice 2022, Restaurant Brands International a signalé des frais de redevance totale de franchise de 1,29 milliard de dollars dans ses marques (Tim Hortons, Burger King, Popeyes et Firehouse Subs).

Marque	Frais de redevance de franchise 2022
Tim Hortons	411 millions de dollars
Burger roi	645 millions de dollars
Papeyes	180 millions de dollars
Sous-marins	54 millions de dollars

Frais de développement de franchise

En 2022, Restaurant Brands International a récolté 23,4 millions de dollars en frais de développement de franchise dans ses marques de restaurants.

Ventes de restaurants

Les ventes totales à l'échelle du système pour 2022 ont atteint 38,4 milliards de dollars, avec une ventilation comme suit:

Marque	Ventes à l'échelle du système 2022
Tim Hortons	12,9 milliards de dollars
Burger roi	20,1 milliards de dollars
Papeyes	5,4 milliards de dollars

Commissions de commande numérique

Les ventes numériques représentaient 35% du total des ventes à l'échelle du système, s'élevant à environ 13,4 milliards de dollars en 2022.

• Ventes numériques de Tim Hortons: 4,5 milliards de dollars
• Ventes numériques Burger King: 7,0 milliards de dollars
• Ventes numériques Popeyes: 1,9 milliard de dollars

Contributions des fonds marketing des franchisés

Les contributions des fonds marketing ont totalisé 1,1 milliard de dollars en 2022, les franchisés contribuant environ 4 à 5% de leurs ventes brutes aux initiatives de marketing.

Marque	Contributions du fonds marketing 2022
Tim Hortons	385 millions de dollars
Burger roi	575 millions de dollars
Papeyes	140 millions de dollars

Restaurant Brands International Inc. (QSR) - Canvas Business Model: Value Propositions

The core value proposition for Restaurant Brands International centers on delivering a compelling mix of choice, affordability, and ease of access across its global portfolio of over 32,000 restaurants in more than 120 countries and territories. This scale, achieved through brands like Tim Hortons, Burger King, Popeyes, and Firehouse Subs, underpins the ability to offer consistent quality while adapting locally.

The diverse menu strategy is designed to capture traffic across all dayparts and consumer needs, supported by system-wide sales growth of 6.9% in the third quarter of 2025.

• Four distinct, independently operated brands: Tim Hortons, Burger King, Popeyes, and Firehouse Subs.
• Complementary offerings spanning breakfast, lunch, dinner, and late-night occasions.
• Global comparable sales accelerated to 4.0% in Q3 2025, showing broad consumer acceptance.

Affordable everyday value is a key driver to pull customers into the restaurants, especially in a competitive pricing environment. The Burger King brand, for instance, actively promotes bundled deals to counter inflationary pressures.

Here's the quick math on recent value offers:

Value Offer	Price Point	Items Included (Example)
Duo	$5	Two items selected from a special menu (e.g., Whopper Junior, Original Chicken Sandwich, medium fries)
Trio	$7	Three items selected from a special menu

Speed, convenience, and accessibility are non-negotiable for the modern quick-service customer, a focus reflected in significant technology investment across the industry, which Restaurant Brands International leverages.

• 76% of quick-service restaurants have adopted mobile ordering and payment solutions.
• Mobile apps and online platforms account for over 69% of total QSR orders.
• 72% of QSRs utilize mobile apps for ordering convenience.
• 62% of quick service brands have integrated self-service kiosks to streamline in-store operations.

The emphasis on digital channels is also translating to better unit economics, as 60% of operators report higher average order values from digital channels compared to traditional walk-ins. This focus helps maintain brand experience consistency even when transactions are off-premises.

Consistent product quality and brand experience are maintained through global operational standards, though performance varies by region. While the overall system saw a 6.9% consolidated system-wide sales growth in Q3 2025, the international segment showed particular strength, with comparable sales at Burger King International growing by 6.4%.

Localized menu innovation is critical to capturing that international growth, tailoring offerings to local tastes and driving performance in specific markets like Europe, where the international business drives a significant portion of earnings.

The value proposition is a function of these tangible numbers:

Value Driver Metric	Latest Available Figure	Context/Brand Example
Total Restaurant Footprint	Over 32,000	Global scale across four brands
International Comparable Sales Growth (Q3 2025)	4.0%	Global acceleration across the portfolio
Digital Order Penetration (Industry Benchmark)	Over 69%	Reflects convenience focus across QSRs
Burger King Value Bundle Price	$5	Drives traffic with bundled value

Finance: draft 13-week cash view by Friday.

Restaurant Brands International Inc. (QSR) - Canvas Business Model: Customer Relationships

You're looking at how Restaurant Brands International Inc. (QSR) manages the connection with its massive customer base across its global portfolio. The relationship model is heavily weighted toward digital speed and transactional efficiency, which is typical for the quick-service restaurant (QSR) space, but they are pushing harder on retention tools.

Automated, transactional service model (QSR)

The core relationship is fast and automated, driven by high transaction volume. For the third quarter of 2025, Restaurant Brands International Inc. saw consolidated system-wide sales grow by 6.9% year-over-year, hitting approximately $12,282 million for the quarter. This scale demands transactional efficiency. To give you a sense of the digital environment Restaurant Brands International Inc. operates in, over 60% of restaurant orders are now placed through mobile apps industry-wide, making the app the critical touchpoint for speed and control. Furthermore, 60% of diners prefer ordering via mobile apps over traditional methods.

Dedicated loyalty programs (e.g., Tim Hortons Tims Rewards) for retention

Retention is a major focus, especially through dedicated digital loyalty. The search results confirm that the Tim Hortons digital loyalty program continues to drive customer retention as of the third quarter of 2025. This aligns with broader industry trends where 60% of loyalty programs focus on keeping customers coming back. The value proposition is clear: loyalty members in the QSR space generally spend 6% more per visit. The challenge is moving beyond simple rewards, as only 18% of loyalty programs lean on personalization, while 65% rely heavily on discounts.

Here are some relevant operational metrics that frame the scale of these customer interactions:

Metric (Q3 2025)	Value	Context
Consolidated System-Wide Sales Growth	6.9%	Year-over-year growth
Tim Hortons Canada Comparable Sales Growth	4.2%	Key driver of Canadian performance
Burger King International Comparable Sales Growth	6.4%	Strong international customer engagement
Total Revenues	$2.45 billion	Total revenue for the third quarter

Digital engagement and personalized offers via mobile apps

Mobile apps are central to deepening the relationship beyond the transaction. Restaurant Brands International Inc.'s brands are competing in a space where 85% of customers are likely to join loyalty programs that offer personalized rewards. For the industry, app users show a 45% higher Customer Lifetime Value (CLV) than web users, which justifies the investment in digital engagement tools like push notifications and personalized offers. Restaurant Brands International Inc. is also seeing its franchisees rely on mobile-friendly loyalty programs, as 85% of QSR and delivery brands use them to drive engagement. If offered, 70% of consumers would use a smartphone app to place orders at QSRs.

• 71% of consumers prefer using restaurant-specific websites or mobile apps over third-party apps.
• 41% of consumers say a loyalty program influences where they eat.
• Frequent QSR customers are 1.5 times more likely to value exclusive rewards.

Customer service for company-owned restaurants (Restaurant Holdings segment)

For the Restaurant Holdings (RH) segment, which includes Carrols Burger King restaurants and FHS Brazil, customer service is directly managed by Restaurant Brands International Inc. The relationship here is more hands-on, though the segment's results are often separated for organic growth reporting. The franchisor still maintains a relationship through intersegment revenue, receiving royalties and rent from the RH segment totaling $83 million for the nine months ended September 30, 2025. Early-stage investments in Popeyes China and Firehouse Brazil resulted in a net Adjusted Operating Income (AOI) drag of $7 million in Q3 2025, which reflects the cost of managing these direct relationships until local partners transition ownership. This segment's performance is a direct reflection of on-the-ground service execution.

Social media and advertising campaigns to build brand love

Building brand love relies on consistent messaging and perceived value. The increase in Total Revenues for Q3 2025 was partially driven by higher Advertising Revenues due to increased advertising fund contributions from franchisees reflecting an increase in the contribution rate. This funding supports brand-building campaigns. In terms of established brand affinity, Burger King U.S. holds an American Customer Satisfaction Index score of 77 as of Q3 2025, which is unchanged from the prior year, showing stable brand affinity despite a competitive domestic environment. The company is definitely focused on marketing firepower as part of its turnaround efforts.

The overall financial health supports these relationship investments:

• Organic Adjusted Operating Income (AOI) growth for Q3 2025 was 8.8%.
• Operating margin for Q3 2025 reached 27.1%.
• The company declared a total dividend of $2.48 per common share for 2025.

Finance: draft 13-week cash view by Friday.

Restaurant Brands International Inc. (QSR) - Canvas Business Model: Channels

Global network of franchised and company-owned physical restaurants

Restaurant Brands International Inc. operates over 32,000 restaurants in more than 120 countries and territories as of the second quarter of 2025.

System Restaurant Count at Period End was 32,229 as of June 30, 2025.

The company's system-wide sales reached $11.853 billion for the second quarter of 2025. For the first nine months of 2025, total revenues were $6.97bn.

Restaurant count by segment as of June 30, 2025:

Segment	System Restaurant Count at Period End
Burger King (BK)	7,046
Popeyes Louisiana Kitchen (PLK)	3,524

The Burger King U.S. brand is executing its 'Reclaim the Flame' plan, which includes investing up to $700 million through year-end 2028 for remodels and relocations. In 2024, Burger King remodeled over 370 stores, targeting an 85% modern image by 2028.

Drive-thru windows for high-speed service

For Tim Hortons Canada, drive-through efficiency enhancement reduced weekday morning time to 28 seconds per car.

Proprietary mobile ordering apps and websites

Tim Hortons Canada's digital innovation, including app enhancement and loyalty programs, contributes to comparable sales. The Tim Hortons digital loyalty program continues to drive customer retention.

Third-party food delivery platforms

No specific financial or statistical data regarding third-party food delivery platform usage or revenue share was found in the provided search results.

Retail distribution of CPG products (e.g., Tim Hortons coffee)

Total Revenues for the second quarter of 2025 were driven by higher Supply Chain Sales, which included CPG net sales.

The company's total revenues for the quarter ended September 30, 2025, were $2.45bn.

The following metrics relate to revenues driven by supply chain/CPG activities:

• Total Revenues for Q2 2025: $2.41 billion.
• Total Revenues for Q2 2024: $2.08 billion.

Restaurant Brands International Inc. (QSR) - Canvas Business Model: Customer Segments

You're looking at the customer base for Restaurant Brands International Inc. (QSR) as of late 2025, which is quite segmented across its four major brands: Tim Hortons, Burger King, Popeyes, and Firehouse Subs.

The customer base includes mass market consumers who are primarily seeking quick, affordable meals. However, the U.S. consumer environment in Q3 2025 showed a clear split in behavior; the lower-end consumer segment has been softer, showing a persistent drop-off in activity since the summer, while the middle and upper tiers demonstrated more strength in discretionary spending.

International customers are a massive driver of growth for Restaurant Brands International Inc. This segment is crucial, as the CEO noted that the International business, combined with Tim Hortons, generates roughly 70% of the company's earnings. The growth in this area is substantial:

• International system-wide sales grew by 12.1% in Q3 2025 on a constant currency basis.
• Burger King International comparable sales showed a strong increase of 6.4% in Q3 2025.
• Popeyes International is emerging as a significant engine, with year-to-date system sales growth above 30%.

For the segment of Millennials and Gen Z who prioritize digital ordering and convenience, the company is building out its infrastructure. The overall growth outlook includes building on its digital sales capabilities through its mobile apps. This focus supports the convenience-seeking demographic.

Commuters and office workers represent a core group, particularly for the Tim Hortons brand, which is known for coffee and breakfast offerings. Tim Hortons Canada, a significant part of the North American business, posted comparable sales growth of 4.2% in Q3 2025.

Here's a quick look at the Q3 2025 comparable sales performance across key markets, which reflects the varying appeal to different customer groups:

Brand/Market Segment	Q3 2025 Comparable Sales Growth
Global System-Wide	4.0%
Burger King U.S.	3.2%
Tim Hortons Canada	4.2%
Popeyes (Overall)	-2.4%

The company's overall consolidated system-wide sales grew by 6.9% year-over-year in Q3 2025. The company is working toward a long-term algorithm calling for more than 3% comparable sales growth annually.

Restaurant Brands International Inc. (QSR) - Canvas Business Model: Cost Structure

You're looking at the major outlays that keep Restaurant Brands International Inc. running across its global portfolio. For a company this large, the cost structure is dominated by things like ingredient costs, labor, and massive ongoing investments in brand revitalization. Honestly, understanding where the money goes is key to seeing the long-term value proposition, especially with the heavy franchise model.

The largest recurring operational cost tied directly to sales from company-owned locations and the associated supply chain is the Cost of Sales. For the twelve months ending September 30, 2025, the Cost of Goods Sold for Restaurant Brands International Inc. was reported at approximately $4.783B. This figure reflects the direct costs of the food, beverage, and packaging used in company-operated restaurants, plus the costs associated with the supply chain operations that serve both company and franchised locations. We know that commodity prices, like beef and coffee, put pressure on this line item, with coffee costs expected to flow through lower in mid to late 2026 due to forward buying strategies.

The company is actively spending significant capital to modernize its assets, which shows up in Capital Expenditures. For the 2025 fiscal year, gross capital spending is expected to remain elevated at about $400 million. This spending is earmarked for necessary upgrades like restaurant remodels, technology enhancements, and digital infrastructure investments, often preceding a refranchising event.

Supporting the franchisee base, particularly for the Burger King brand, involves substantial incentive spending. The Burger King US Reclaim the Flame plan includes significant investment in the Royal Reset initiative, which covers high-quality remodels, relocations, and restaurant technology. The total investment planned for this initiative through year-end 2028 is up to $700 million. As of September 30, 2025, Restaurant Brands International Inc. had funded $160 million out of the up to $550 million planned specifically toward the Royal Reset investments.

Corporate overhead, categorized as General and Administrative expenses (G&A), covers the essential corporate functions supporting the global operation. For the full year 2025, the guidance for Segment G&A, excluding the Restaurant Holdings (RH) segment, was projected to be between $650 million and $670 million. Separately, the RH Segment G&A for 2025 was guided to be approximately $100 million. This G&A spend is a fixed cost base that the company aims to manage through efficiency, as evidenced by reported decreases in Segment G&A in Q3 2025 due to lower compensation-related expenses.

Finally, servicing the company's debt load results in a significant non-operating expense. The guidance for Adjusted Net Interest Expense for 2025 was set at the upper end of a range between $500 million and $520 million. This figure is what management focuses on when assessing the cost of their financing structure.

Here's a quick look at the key 2025 cost structure expectations and recent figures:

Cost Component	2025 Financial Figure or Guidance
Cost of Goods Sold (Twelve Months Ended Sept 30, 2025)	$4.783B
Consolidated Capital Expenditures (Gross, Expected for 2025)	About $400 million
Segment G&A (Excluding RH, Guidance for 2025)	$650 million to $670 million
RH Segment G&A (Guidance for 2025)	Approximately $100 million
Adjusted Net Interest Expense (Expected for 2025)	Around $520 million
Royal Reset Investment Funded (As of Q3 2025)	$160 million

The company's cost management strategy seems focused on driving down corporate overhead while strategically investing heavily in the physical assets through the franchisee network. Finance: draft 13-week cash view by Friday.

Restaurant Brands International Inc. (QSR) - Canvas Business Model: Revenue Streams

Restaurant Brands International Inc. derives its top line from a diversified set of streams, heavily weighted toward its franchised model.

The total revenue for the full 2025 fiscal year is forecast around $9.37 billion.

The primary revenue sources are:

• Franchise royalties and initial fees.
• Sales from company-owned restaurants (Restaurant Holdings segment).
• Supply chain sales to franchisees.
• Property revenues from leased locations.

Here's a breakdown of the key components based on recent financial reporting and projections:

Revenue Stream Component	Specific Data Point / Range	Context / Period
Total Revenue Forecast	$9.37 billion	Full-Year 2025 Estimate
Franchise Royalties (Percentage)	Typically ranges from 4% to 8% of gross sales	General QSR Industry Benchmark
Intersegment Royalty Revenue	$28 million	Three months ended September 30, 2025
Intersegment Property Revenue (Rent)	$83 million	Nine months ended September 30, 2025
Tim Hortons Supply Chain Gross Margin	Roughly 19%	Forecast for 2025
Company-Owned Restaurant Sales	Reported Q3 2025 Revenue was $2.45 billion	Quarterly Snapshot (Used to represent this stream)

Initial franchise fees for Quick-Service Restaurants (QSR) generally fall between $6,250 and $90,000, though specific amounts depend on the brand and location.

The Tim Hortons supply chain operation is designed to smooth commodity volatility, with executives noting the 2025 supply chain margin is expected to be around 19%, down slightly from 19.5% in 2024.

For the third quarter ended September 30, 2025, the total reported revenue was $2.45 billion, up 6.9% from the prior year's third quarter.

The intersegment eliminations show the flow between segments:

• Franchise and property revenues eliminated in consolidation for the nine months ended September 30, 2025, included royalties of $28 million and rent of $83 million.
• For the same nine-month period in 2024, these eliminated revenues were $28 million for royalties and $43 million for rent.

The CEO noted that Tim Hortons and the International business together generate roughly 70% of the company's earnings as of late 2025.

Finance: draft 13-week cash view by Friday.