Six weeks after taking ownership of a well-known Fayetteville restaurant, coronavirus changed everything for Jeff Allison.
“I took over Bordinos on February 3, and ownership was going excellent until March 16th. That was the day my world was flipped upside down,” he said.
“We closed for dine-in service and had to make the difficult decision to lay off all non-management personnel.”
Allison tried curbside pickup and delivery but stopped after three weeks, opting to shut down Bordinos “not only due to the lack of sales but for the safety of our employees and customers,” he said.
‘Incredibly Beneficial’ Guidance
Mary Beth Brooks, director of the Arkansas Small Business and Technology Development Center regional office in Fayetteville, assisted Allison with purchasing the business. With the restaurant closed, he looked to her again.
“I had heard about the ASBTDC but was not sure what they did. Mary Beth was instrumental in helping me put together my initial analysis and projections for the purchase of Bordinos. Being that this was my first business purchase, it was incredibly beneficial to have someone with her background to guide me through the steps of putting together my business plan and projections for the bank,” he said.
Prior to COVID-19, Bordinos employed 60 full- and part-time staff. Brooks helped Allison plan his next steps and find funding to resume operations and bring back employees.
With Brooks’ guidance, he applied for loans through the Paycheck Protection Program and Walton Family Foundation.
“Mary Beth was extremely helpful in advising me what programs and assistance were available, as well as making sure I was exploring all of my options. She was a sounding board for my thoughts, advisor on programs, and a therapist when things were overwhelming,” said Allison.
“I cannot thank Mary Beth enough for her assistance and friendship over the last few months. She was instrumental in getting me involved with the WFF loan, which could be a lifesaver for my business, as it will help bridge the shortcomings of the PPP loan program.”
A Changed Landscape
Targeting a June 1 re-opening for Bordinos, Allison believes restaurateurs will be coping with coronavirus for a long time to come and says the pandemic has “changed the landscape for restaurants.”
On a national and even global scale, he predicts significantly lower revenues, fewer jobs, and other changes for restaurants, such as altering menus to better accommodate carry-out and delivery options.
“Restaurants will have to be creative to help drive new revenue streams, and the guest experience will be drastically different with the requirements of staff wearing PPE and taking extra measures to ensure safety,” said Allison.
Though a first-time owner, Allison has restaurant and hospitality industry experience. He was part of the team that opened the Ruth’s Chris in Rogers and served as beverage manager for a casino in Tunica, Miss.
He also has a degree in hospitality management from the University of Arkansas and an MBA.
Allison appreciates the support ASBTDC and the Northwest Arkansas Council are providing to business owners through the Small Business Emergency Assistance Program.
“While no one has all of the answers, they have been able to create a support group that restaurant owners can lean on to share ideas and information to ensure that all local restaurants have the resources they need to survive this trying time,” he said.
