A new pricing strategy is on the menu for Famous Dave’s (Famous Dave’s) (Nasdaq:DAVE). The company will engage the world’s leading restaurant analytics consultancy, Revenue Management Solutions (RMS), for all pricing and menu optimization work.
“Menu optimization is a critical component of our strategy,” said John Gilbert, Famous Dave’s CEO, “which includes maximizing profits on our current transactions and developing a pricing model that encourages repeat visits.”
RMS is known within the restaurant industry to have been the consultancy behind pricing at the world’s largest restaurant companies. The company – whose client list includes 33 brands in 34 countries – delivers impressive results, with a goal of driving, at minimum, 1% of sales to the bottom line.
“We have substantial opportunities in front of us,” said Gilbert. “RMS leads the industry in the science of menu strategy – it’s amazing stuff, RMS actually uses consumer demand to gauge the effectiveness of pricing and menu decisions – and the impact this work presents to our financial position is significant.”
About Famous Dave’s
Famous Dave’s of America, Inc. (Nasdaq:DAVE) develops, owns, operates and franchises barbeque restaurants. The company owns 54 locations and franchises 135 additional units in 33 states and 1 Canadian province. The menu features award-winning barbequed and grilled meats, a large selection of salads, side items and sandwiches and unique desserts. Famous Dave’s has won over 646 awards for everything from best ribs to best Bar-B-Que sauce to best cookbook. For more information, please visit http://www.famousdaves.com