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Famous Dave's of America Inc. Message Board

  • Rocket_1924 Rocket_1924 Mar 10, 1998 11:56 AM Flag

    Love the food but question the expensive

    Ihave owned Dave's off and on for over a year. I am about broke even or slightly down. I am very dissappointed in the ability of this expensive management team to choose a strategy and execute the way they say they were going to do. I went to the annual meeting last Spring. I should have known then and bailed. The meeting was a joke. No charts or graphs. No discussion of strategy. A few country jokes. A few pig calls and some management introductions. It was over in 45min.
    Unfortunately, I figured that everybody was new and with all this talent they knew what they were doing.
    I spent another 45 min. talking to mgmt. The only consistent thing that I have seen from this group is conservative accounting for new store start up costs. Everything else is all over the board and now we have had our first major mgmt defection in Payne.
    Let's see. A locations vrs B. Owned buildings vrs leased. Hub and spoke built around the Blues Clubs vrs build them in any small city and assume the people will just come. Order counter--first come first seated at the shacks vrs reservations and table service at the lodge.
    Dave's does not have one successful location outside the Twin Cities. I would like to think that this is good market segmentation at work but it is too early in company development to attack across market segments and this management is too inconsistent to convince me that they could do it anyhow.

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