Fennel to Offer ESOP
by November 11, 2002 12:00 am 62 views
Joe Fennel, owner of Jose’s Inc. of Fayetteville, said he will offer an employee stock option plan in 2003, but he will likely retain majority ownership of the company, which currently consists of Jose’s Mexican Restaurant and Bordino’s, an Italian restaurant.
“We’re working on it right now,” he said. “But the whole process takes six or seven months. We’ll all be partners. I’m out of the operations part of the thing. I’ve got to go do something else. I’m tired of being in the trenches.”
Fennel, 50 and a hands-on restaurateur who often busses tables at Jose’s, said he still plans to spend at least $1 million to build a two-story, 11,500-SF restaurant on property he owns at 310 W. Dickson St., near Jose’s. He hinted that he may not stop there.
“We’re going to build some restaurants and do some other things,” he said, “but I’ve got to get out of the management of it.”
The Northwest Arkansas Business Journal reported in 1998 that Fennel was considering the ESOP, which he said at the time would be several years down the road.
Fennel said he has about 105 employees, about 75 percent of whom are part-time.
In the meantime, Juan Barcenas, who has been the chef at Bordino’s for the past seven years, left in late October and plans to open Picasso Pizzeria on Nov. 15 at 3980 Wedington Drive in Fayetteville.
Chrissy Sanderson took over as chef of Bordino’s on Halloween. She’s a former Jose’s employee who recently graduated from the Culinary Institute of America in Hyde Park, N.Y.
Barcenas had already introduced his fall menu at Bordino’s, so it will remain in place through the winter. Sanderson will introduce her first personalized menu at Bordino’s in the spring.
Fennel’s restaurant complex on Dickson Street was the city’s leading locally owned restaurant last year with gross sales of $3.2 million. Jose’s/Bordino’s was No. 2 overall behind Red Lobster, with sales of $3.5 million.
Burrito Eatery to Open in February
Three men signed a lease on Nov. 5 for space in a Fayetteville warehouse that will house a restaurant specializing in burritos.
Mike Rohrbach, Eric Billings and Archie Schaffer IV plan to open the eatery in February in a 1,826-SF space at the corner of Spring and West streets in Fayetteville. The space is currently occupied by Experienced Denim, a used clothing store that is moving to another location.
Rohrbach said the restaurant will serve large, California-style burritos that are made to order. The owners are still working on the menu, which may include other items popular on the West Coast such as fish tacos.
The fast-casual restaurant will have about 40 seats and a 200-SF patio area outside. The restaurant will have a full bar in addition to serving beer, wine and margaritas.
The owners have yet to name the new business. Three names under consideration are Big Juan’s, Tortilla Fats and The Black Bean.
All of the owners have management experience in the restaurant industry, but Billings is the only one who has owned a food business before. He was part owner of a Shake’s Frozen Custard franchise in College Station, Texas.
Handheld Computers Make Ordering Faster
Fifteen restaurants across the United States have furnished wait staff with handheld organizers to make taking orders faster and more accurate. When an order is written on the screen of the handheld computer, it is immediately transmitted to the kitchen so cooks can begin preparing the meal.
Action Systems Inc., a software company in Silver Spring, Md., designed the computers and software. The system costs $20,000 to $30,000, depending on the number of computers needed, according to an article in The Washington Post.
The system also allows a chef to update daily specials and beam the information to the handheld devices.
Some restaurant owners say the handhelds don’t allow room for details, such as how a customer wants his eggs cooked. But the computers do allow wait staff to remain in the dining area longer without having to run back and forth to the kitchen as often.