Marcus Aurelius

Raw Data Report: Famous Dave's, Applebee's

I am a Famous Dave's fan and am looking for a buy opportunity on the company. I eat there on a regular basis probably 3-4 times per year. Of all the chain BBQ joints I enjoy Famous Dave's ribs the most. We have a place called Tony Roma's (TRO) in WI that has ribs and a Texas Roadhouse (TR) nearby and I thought TR's ribs were dry and TRO did not make much of an impression on myself. TRO aims to be more than barbecue and IMO they end up falling short both in terms of the food & atmosphere. I have had ribs at Smokey Bones and again nothing special.

About six years ago I had a buy order on DAVE for $6.00/share and got off my plan and lost out on the buy (I had planned to sell at about $9.00/share) the stock hit my predicted point, but I am not a big player so most likely my order was way back in line and the players who engage in 10,000+ orders were served up first. Had I stuck to my plan I would have made some quick money on the transaction, because that was around the time DAVE started to head up fairly quickly.

Can the menu deal with some freshening? I am not so certain about that, I don't go to Famous Dave's for fresh and exciting food, in fact, if Famous Dave's only had one item on the menu (their St. Louis ribs) I would still be going there.

Wait times, the last time I was there I wish it was longer! My brother and I were there last Saturday (June 21, 2008) and seated immediately, but we arrived on the late side (after 7:30 pm). My brother and I were there, ordered a drink and then I had another (they messed up and mixed my gin and tonic (GnT) up in a small glass so they very honestly & graciously let me know I had another coming) and before the second GnT was complete the meal was served, typically I have a glass of wine with my dinner but I suppose it was for the best. Point being, the meal was brought out quick, again it was past normal eating hours.

This stock has not been in this area since October of '04 & in July of '07 it was in the $20.00 area.

What can the place do to improve? More atmospherics than anything. I detest the music they play and since most of the company I dine with detests cigarette smoke perhaps they can get rid of smoking entirely in their restaurants. It would have been nice to sit at the bar the other night. I used to like their beans a lot, but I have since come upon a recipe that puts their beans to shame.

Disclosure: currently just a fan of Famous Dave's.