Restaurant Brands International Inc. (QSR): Modelo de negócios Canvas [Jan-2025 Atualizado]

A Restaurant Brands International Inc. (QSR) é uma potência culinária, orquestrando magistralmente um império global de fast-food que abrange quatro marcas icônicas: Tim Hortons, Burger King, Popeyes e Firehouse Subs. Ao aproveitar engenhosamente uma teia sofisticada do modelo de negócios, esta corporação multinacional transformou o cenário de restaurantes de serviço rápido, misturando perfeitamente estratégias digitais inovadoras, redes de franquia robustas e diversas experiências gastronômicas que atendem a milhões de consumidores em todo o mundo. Mergulhe no projeto intrincado que impulsiona isso US $ 30 bilhões Notável sucesso e excelência operacional da gigante do serviço de alimentação.

Restaurant Brands International Inc. (QSR) - Modelo de negócios: Parcerias -chave

Parceiros de franquia

A partir de 2024, a Restaurant Brands International (RBI) opera através de uma complexa rede de franquias:

Marca	Total de locais franqueados	Presença global do mercado
Tim Hortons	5.210 locais	Canadá, Estados Unidos, Mercados Internacionais
Burger King	19.247 restaurantes	Mais de 100 países
Popeyes	5.395 restaurantes	Mais de 30 países
Subs de bombeiros	1.248 locais	Estados Unidos, presença internacional limitada

Fornecedores de alimentos e redes de distribuição

O RBI mantém parcerias estratégicas com cadeias globais de suprimento de alimentos:

• Sysco Corporation: Parceiro de distribuição de alimentos primários
• Alimentos dos EUA: colaboração significativa da cadeia de suprimentos
• Fornecedores globais em mais de 100 países
• Aquisição anual de alimentos: US $ 3,8 bilhões

Plataformas de tecnologia e pedidos digitais

Parceiro de tecnologia	Serviço digital	Receita digital anual
Olo	Infraestrutura de pedidos on -line	US $ 45,2 milhões de contribuição de vendas digitais
Doordash	Parceria de entrega	Receita de entrega de US $ 312 milhões
Google Cloud	Serviços de computação em nuvem	Parceria de tecnologia corporativa

Recomendações imobiliárias e gerentes de propriedade

O RBI colabora com vários parceiros imobiliários nas regiões:

• Grupo CBRE: Serviços de Consultoria Imobiliária
• JLL (Jones Lang Lasalle): Gerenciamento de propriedades
• Portfólio de propriedades para restaurantes: mais de 25.000 locais globais
• Investimento imobiliário anual: US $ 475 milhões

Agências de marketing e publicidade

Agência	Serviços	Gastos anuais de marketing
Publicis Groupe	Estratégia de marketing global	US $ 320 milhões
WPP plc	Comunicações de marketing integradas	US $ 275 milhões
Omnicom Group	Desenvolvimento da marca	US $ 210 milhões

Restaurant Brands International Inc. (QSR) - Modelo de negócios: Atividades -chave

Gestão de franquias e expansão de franquia de restaurantes

A partir de 2024, a Restaurant Brands International opera 29.131 restaurantes totais globalmente em quatro marcas:

Marca	Número de restaurantes
Tim Hortons	5,210
Burger King	19,247
Popeyes	4,601
Subs de bombeiros	73

Desenvolvimento e marketing de marca

Despesas de marketing para 2023: US $ 432 milhões

• Investimentos globais de marketing digital
• Campanhas publicitárias específicas da marca
• Estratégias de engajamento de mídia social

Inovação de menu e desenvolvimento de produtos

Investimento anual de P&D: US $ 87,3 milhões

Foco na inovação	Métricas -chave
Novos itens de menu introduzidos	37 por marca anualmente
Opções baseadas em plantas	12 novos produtos

Tecnologia digital e aprimoramento da plataforma de pedidos móveis

Porcentagem de vendas digitais: 35,6% do total de vendas em todo o sistema

• Downloads de aplicativos móveis: 22,4 milhões
• Plataformas de pedidos digitais em marcas
• Tecnologias de personalização orientadas a IA

Operações globais de restaurantes e controle de qualidade

Orçamento de controle de qualidade: US $ 129,5 milhões

Métrica operacional	Desempenho
Auditorias de segurança alimentar	4.782 conduzidos anualmente
Verificações de conformidade do fornecedor	1.246 fornecedores monitorados

Restaurant Brands International Inc. (QSR) - Modelo de negócios: Recursos -chave

Portfólio de várias marcas

Restaurant Brands International Inc. opera quatro marcas globais:

• Tim Hortons: 5.400 restaurantes
• Burger King: 19.247 restaurantes
• Popeyes: 5.760 restaurantes
• Firehouse Subs: 1.270 restaurantes

Rede Global de Franquia

Marca	Total de restaurantes	Porcentagem de franquia
Burger King	19,247	99,7% franqueados
Tim Hortons	5,400	98,5% franqueados
Popeyes	5,760	95,5% franqueados
Subs de bombeiros	1,270	100% franqueado

Plataformas digitais

Canais de vendas digitais Desempenho em 2022:

• Vendas digitais de Tim Hortons: 30% do total de vendas
• Vendas digitais do Burger King: 25% do total de vendas
• Vendas digitais de Popeyes: 20% do total de vendas

Recursos financeiros

Desempenho financeiro 2022:

Métrica	Quantia
Receita total	US $ 6,5 bilhões
Resultado líquido	US $ 1,2 bilhão
Vendas globais de restaurantes	US $ 33,8 bilhões

Reconhecimento da marca

Locais globais de restaurantes por marca:

• Burger King: 19.247 restaurantes em mais de 100 países
• Tim Hortons: 5.400 restaurantes principalmente no Canadá e nos mercados internacionais selecionados
• Popeyes: 5.760 restaurantes em mais de 30 países
• Firehouse Subs: 1.270 restaurantes nos Estados Unidos

Experiência operacional

Funcionários e gerenciamento:

Categoria	Número
Total de funcionários	18,000+
Locais da sede corporativa	3 (Toronto, Miami, Atlanta)

Restaurant Brands International Inc. (QSR) - Modelo de negócios: proposições de valor

Marcas de fast-food diversas e reconhecidas globalmente

Restaurant Brands International gerencia três principais marcas globais:

• Tim Hortons: 5.210 restaurantes globalmente a partir do quarto trimestre 2023
• Burger King: 19.247 restaurantes em todo o mundo a partir do quarto trimestre 2023
• Popeyes: 5.762 restaurantes internacionalmente a partir do quarto trimestre 2023

Marca	Locais globais	Receita em 2023 (USD)
Tim Hortons	5,210	US $ 3,2 bilhões
Burger King	19,247	US $ 10,1 bilhões
Popeyes	5,762	US $ 2,9 bilhões

Qualidade consistente e ofertas de alimentos padronizadas

Preço médio de preço do menu entre marcas:

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

Experiências de refeições convenientes e rápidas

Taxas de penetração de pedidos digitais:

• Vendas digitais: 35,2% do total de vendas em todo o sistema em 2023
• Downloads de aplicativos móveis: 22 milhões de usuários ativos
• Valor médio do pedido digital: $ 14,50

Pedidos digitais inovadores e envolvimento do cliente

Plataforma digital	Taxa de adoção	Transações anuais
Aplicativo móvel	28%	412 milhões
Pedidos on -line	42%	589 milhões

Opções de refeições acessíveis e acessíveis

Faixa média de preço da refeição entre as marcas:

• Opções de café da manhã: $ 3,50 - $ 6,00
• Almoço combos: US $ 6,99 - US $ 9,99
• Refeições do jantar: US $ 7,50 - $ 12,00

Restaurant Brands International Inc. (QSR) - Modelo de Negócios: Relacionamentos do Cliente

Programas de fidelidade digital

O Programa Tim Hortons Rewards possui 2,1 milhões de membros ativos a partir do terceiro trimestre de 2023. O Programa de Fidelidade Burger King Royal Perks relatou 16 milhões de membros em 2023. A associação total à lealdade digital entre as marcas atingiu 23,5 milhões de membros.

Marca	Membros do programa de fidelidade	Taxa de engajamento digital
Tim Hortons	2,1 milhões	37.5%
Burger King	16 milhões	45.2%
Popeyes	5,4 milhões	28.6%

Engajamento de aplicativos móveis

Os downloads de aplicativos móveis entre as marcas atingiram 12,3 milhões em 2023. Usuários médios mensais ativos em plataformas móveis: 6,8 milhões.

• Tim Hortons App: 4,2 milhões de downloads
• Burger King App: 6,5 milhões de downloads
• App Popeyes: 1,6 milhão de downloads

Interação da mídia social

Seguidores de mídia social entre marcas: 35,7 milhões. Taxa total de envolvimento da mídia social: 4,2%.

Plataforma	Total de seguidores	Taxa média de envolvimento
Instagram	22,1 milhões	3.7%
Facebook	10,6 milhões	4.5%
Twitter/x	3 milhões	2.8%

Campanhas de marketing personalizadas

Passos de marketing digital em 2023: US $ 187,5 milhões. Taxa de conversão de campanha personalizada: 6,3%.

Feedback do cliente e melhoria contínua

Pontuação de satisfação do cliente entre as marcas: 82%. Os canais totais de feedback do cliente processados: 1,2 milhão de interações em 2023.

• Feedback online: 675.000 interações
• Feedback no aplicativo: 325.000 interações
• Atendimento direto ao cliente: 200.000 interações

Restaurant Brands International Inc. (QSR) - Modelo de Negócios: Canais

Aplicativos móveis

Tim Hortons Mobile App Downloads: 2,4 milhões de usuários ativos a partir do quarto trimestre 2023. Burger King Mobile App: 11,3 milhões de usuários registrados na América do Norte. Popeyes Mobile App: 6,8 milhões de usuários ativos.

Canal	Métricas de engajamento digital	Impacto anual da receita
Tim Hortons Mobile App	2,4 milhões de usuários ativos	Vendas digitais de US $ 312 milhões
Burger King Mobile App	11,3 milhões de usuários registrados	Vendas digitais de US $ 540 milhões
Popeyes Mobile App	6,8 milhões de usuários ativos	US $ 226 milhões de vendas digitais

Plataformas de pedidos on -line

A ordem digital representa 35,7% do total de vendas de restaurantes em 2023. A integração da plataforma de terceiros gera US $ 1,2 bilhão em receita anual.

Refeições na loja

Recuperação de refeições na loja pós-pandêmica: 78% dos níveis pré-Covid. Vendas médias da loja: US $ 1,4 milhão por restaurante anualmente.

Serviços drive-thru

Marca	Porcentagem de drive-thru	Tempo médio de transação
Burger King	62% do total de vendas	3,2 minutos
Tim Hortons	55% do total de vendas	2,9 minutos
Popeyes	48% do total de vendas	3,5 minutos

Parcerias de entrega de terceiros

• Uber Eats: 42% do volume de entrega digital
• DOORDASH: 36% do volume de entrega digital
• GrubHub: 22% do volume de entrega digital

Taxas de comissão de entrega de terceiros: 20-30% por transação. Receita anual de entrega de terceiros: US $ 780 milhões.

Restaurant Brands International Inc. (QSR) - Modelo de negócios: segmentos de clientes

Millennials e Consumidores da Gen Z

Restaurant Brands International Targe 18-40 Demográfico da idade, representando 64,5 milhões de consumidores na América do Norte. A penetração digital para esse segmento atinge 54,3% em Burger King, Tim Hortons e Popeyes Brands.

Faixa etária	Porcentagem de pedidos digitais	Gastos anuais para restaurantes
18-24 anos	41.2%	US $ 2.370 por ano
25-40 anos	62.7%	US $ 3.245 por ano

Famílias e jovens profissionais

O segmento de renda familiar varia entre US $ 65.000 e US $ 120.000 anualmente. Os gastos médios para restaurantes familiares atingem US $ 4.500 por ano.

• Tamanho médio da família: 2,6 pessoas
• Frequência semanal de visita ao restaurante: 3-4 vezes
• Preferência por refeições de valor: 67,3%

Entusiastas da comida rápida

Base de clientes central que consome fast food 2-3 vezes por semana. Valor médio da transação: US $ 12,40 nas marcas QSR.

Marca	Valor médio da transação	Frequência semanal de visita
Burger King	$11.75	2.1 vezes
Popeyes	$13.20	1,8 vezes
Tim Hortons	$8.90	3,5 vezes

Clientes que buscam conveniência

O pedido móvel representa 38,5% do total de transações de restaurantes. O uso de drive-thru responde por 72,4% das interações de restaurantes de serviço rápido.

Clientes sensíveis ao preço

Segmento de clientes com renda familiar anual abaixo de US $ 50.000, representando 29,6% da base total de clientes. As seleções de menu de valor constituem 41,2% do volume total de pedidos.

• Valor médio Preço da refeição: $ 6,50
• Taxa de uso de cupom: 47,3%
• Seleção de refeições promocionais: 53,6%

Restaurant Brands International Inc. (QSR) - Modelo de negócios: estrutura de custos

Desenvolvimento e suporte de franquia

Custos anuais de suporte da franquia: US $ 78,4 milhões em 2022

Categoria de custo	Despesa anual
Treinamento de franquia	US $ 12,6 milhões
Suporte de operações de franquia	US $ 45,2 milhões
Suporte de tecnologia de franquia	US $ 20,6 milhões

Compras de comida e ingrediente

Total de despesas de aquisição de alimentos: US $ 3,45 bilhões em 2022

• Tim Hortons Compras alimentares: US $ 1,2 bilhão
• Burger King Compras alimentares: US $ 1,85 bilhão
• Aquisição de alimentos para Popeyes: US $ 400 milhões

Despesas de marketing e publicidade

Gastes de marketing total: US $ 635 milhões em 2022

Marca	Despesa de marketing
Tim Hortons	US $ 185 milhões
Burger King	US $ 380 milhões
Popeyes	US $ 70 milhões

Infraestrutura de tecnologia

Investimento de tecnologia anual: US $ 124,5 milhões em 2022

• Desenvolvimento da plataforma digital: US $ 62,3 milhões
• Infraestrutura de segurança cibernética: US $ 28,7 milhões
• App móvel e sistemas de pedidos: US $ 33,5 milhões

Manutenção imobiliária e de restaurante

Custos de imóveis e manutenção totais: US $ 512 milhões em 2022

Categoria de custo	Despesa anual
Renovações de restaurantes	US $ 215 milhões
Arrendamento e despesas de aluguel	US $ 197 milhões
Manutenção e reparos	US $ 100 milhões

Restaurant Brands International Inc. (QSR) - Modelo de negócios: fluxos de receita

Taxas de royalties de franquia

Para o ano fiscal de 2022, a Restaurant Brands International registrou taxas de royalties totais de franquia de US $ 1,29 bilhão em suas marcas (Tim Hortons, Burger King, Popeyes e Firehouse Subs).

Marca	Taxas de royalties de franquia 2022
Tim Hortons	US $ 411 milhões
Burger King	US $ 645 milhões
Popeyes	US $ 180 milhões
Subs de bombeiros	US $ 54 milhões

Taxas de desenvolvimento de franquia

Em 2022, a Restaurant Brands International coletou US $ 23,4 milhões em taxas de desenvolvimento de franquias em suas marcas de restaurantes.

Vendas de restaurantes

As vendas totais em todo o sistema para 2022 atingiram US $ 38,4 bilhões, com um colapso da seguinte forma:

Marca	Vendas em todo o sistema 2022
Tim Hortons	US $ 12,9 bilhões
Burger King	US $ 20,1 bilhões
Popeyes	US $ 5,4 bilhões

Comissões de pedidos digitais

As vendas digitais representaram 35% do total de vendas em todo o sistema, totalizando aproximadamente US $ 13,4 bilhões em 2022.

• Vendas digitais de Tim Hortons: US $ 4,5 bilhões
• Vendas digitais do Burger King: US $ 7,0 bilhões
• Vendas digitais de Popeyes: US $ 1,9 bilhão

Contribuições de fundos de marketing de franqueados

As contribuições do fundo de marketing totalizaram US $ 1,1 bilhão em 2022, com franqueados contribuindo com aproximadamente 4-5% de suas vendas brutas para iniciativas de marketing.

Marca	Contribuições do Fundo de Marketing 2022
Tim Hortons	US $ 385 milhões
Burger King	US $ 575 milhões
Popeyes	US $ 140 milhões

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.