Don & Millie’s, a popular restaurant chain founded in Omaha in 1989, is making significant strides towards becoming an employee-owned establishment. With six locations in the Omaha area and two in Lincoln, Don & Millie’s has become a beloved dining spot for locals over the years.
The founders of Don & Millie’s, Mark Sweet and Dean Rasmussen, were contemplating retirement last year. Instead of selling their business, they decided to partner with Teamshares and its innovative employee ownership model. This unique concept allows employees to share in the company’s success without any financial burden. They will receive dividend checks in the short term and look forward to a secure retirement buyout in the future.
The remarkable aspect of this venture is that the employees will not bear any cost in becoming part-owners of Don & Millie’s. The establishment is expected to be 80% employee-owned within the next 20 years. This progressive move not only rewards the hardworking employees but also ensures the long-term success and sustainability of the restaurant chain.
Don & Millie’s current Omaha area locations include 4430 Farnam St., 2208 Pratt Ave. in Bellevue, 10727 West Center Road, 8405 Q St., 14321 Harrison St., and 16130 Evans St. These locations will soon be operated by an enthusiastic and invested team of employee-owners.
This transition to an employee-owned model is a significant step forward for Don & Millie’s. It aligns with the growing trend of businesses embracing employee ownership as a means to reward and motivate their workforce. By allowing employees to have a stake in the company’s success, businesses can foster a stronger sense of loyalty, dedication, and commitment among their team members.
Moreover, this move highlights the founders’ commitment to the community and their desire to leave a positive legacy. By choosing to retain local ownership and empower their employees, Sweet and Rasmussen are ensuring that Don & Millie’s will continue to flourish for years to come.
The decision to partner with Teamshares reflects a forward-thinking approach from the founders. This strategic move will not only benefit the employees but also secure the future success of the restaurant chain. With its emphasis on employee ownership, Don & Millie’s sets itself apart as a progressive and employee-focused establishment in the restaurant industry.
As Don & Millie’s embarks on this journey towards becoming an employee-owned chain, it is poised to make a positive impact on the local community. By prioritizing employee well-being and financial success, the restaurant chain solidifies its position as not just a beloved dining destination, but also a role model for businesses looking to cultivate a loyal and motivated workforce. With the support of its dedicated employees and the backing of Teamshares, Don & Millie’s is well on its way to a prosperous future as an employee-owned restaurant chain.
