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Famous Dave's of America Inc. Message Board

  • casual_observer_27 casual_observer_27 Mar 6, 2013 12:29 PM Flag

    What DAVE needs to do now

    Pretty simple plan:
    1) Stop the executive compensation plan immediately. Replace it with an incentive plan which rewards the managers of company owned stores based on their same store sales. If a store increases their same store sales by 5% or more, give that manager a bonus of 10% of his/her salary. Basically, the money means more to the store managers than to the executives, so they will work harder for it.
    2) Stop the share buy backs and use the money for new store expansion.
    3) Take back territory from franchisees who are not complying with their agreements regarding store openings.
    4) Report enterprise sales which is much higher than revenue because revenue only includes the 5% commission from franchisees. This gives a better understanding of the overall market penetration of DAVE sales.
    5) Continue to focus on making the best bbq around. This is something they do well and have many awards to show for it.

    I like the new CEO. He is the first vocal cheerleader for this company (besides Famous Dave Anderson himself many years ago) and is starting to build some excitement about growing the company.

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