Famous Dave's of America, Inc

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International Guild of Hospitality & Restaurant Managers

Famous Dave's of America, Inc., incorporated in 1994, is the operator of 37 restaurants under the name "Famous Dave's," as of December 30, 2001 . An additional 19 franchise restaurants were also operating under the name "Famous Dave's." Seventeen restaurants were located in Minnesota, 12 in Illinois, six in Wisconsin, four each in Virginia and Maryland, three in Iowa, two each in Utah and Nebraska, and one each in Alabama, Georgia, Tennessee, Indiana, Ohio and South Dakota. Two additional franchise restaurants were under construction in Belleview , Nebraska and Mountainside, New Jersey .

Famous Dave's also is a 40% participant in a joint venture (FUMUME, LLC) to operate themed restaurant concepts based on the entertainment artist Isaac Hayes. Pursuant to the agreement governing the joint venture, the participants in the joint venture formed FUMUME, which opened its first location in Chicago , Illinois in June 2001, and opened the second location in Memphis , Tennessee in October 2001. Each location is structured as a separate Delaware limited liability company, each of which is wholly owned by FUMUME.

The Company's restaurants, a majority of which offer full table service, feature hickory smoked off-the-grill meat entree favorites served in one of three casual formats: a "Northwoods" style lodge, a nostalgic roadhouse "shack," or a Blues Club featuring nightly musical entertainment. The Company seeks to differentiate itself by providing high-quality food in these distinctive and comfortable environments.

Each restaurant features a distinctive selection of authentic hickory-smoked off-the-grill favorites such as flame-grilled St. Louis-style ribs, Texas beef brisket, Georgia chopped pork, country-roasted chicken, and generous signature sandwiches and salads. Enticing side items such as honey-buttered corn bread, potato salad, coleslaw, Shack Fries and Wilbur Beans accompany the broad entree selection. Homemade desserts, including Famous Dave's Bread Pudding and Hot Fudge Kahlua Brownies, are a specialty. To complement the Company's smoked meat entree and appetizer items and to suit different customer tastes, Famous Dave's BBQ Sauces come in six variations: Rich & Sassy, Texas Pit, Georgia Mustard, Hot & Sassy, Devil's Spit and Sweet and Zesty. These sauces and a variety of prepared meats and seasonings also are distributed throughout the country under licensing agreements in retail grocery stores.

In late 1997, the Company introduced the "Lodge" format, which features decor reminiscent of a comfortable "Northwoods" hunting lodge with a full service dining room and bar. The Company's original theme, a nostalgic roadhouse shack is promoted by the abundant use of rustic antiques, items of Americana from the '30s and '40s, and emphasizes a very casual experience with emphasis on value and speed of delivery. While initially the Shack format only offered counter service, 14 Shacks have been opened as or converted to full service dining. In addition, the Company has developed a larger "Blues Club" format that features authentic Chicago Blues Club decor and live music seven nights a week. The Company currently operates one Blues Club in the Minneapolis market.

In its restaurants, the Company strives to emphasize value and speed of service by employing a streamlined operating system based on a focused menu and simplified food preparation techniques. The menu focuses on a number of popular smoked meat barbecue entree items and side dishes that are prepared using easy-to-operate kitchen equipment and processes that use prepared seasonings, sauces and mixes. This streamlined food preparation system helps lower the cost of operation by requiring fewer staff, lower training costs and the elimination of a need for highly compensated chefs. To enhance its appeal and expand its audience, the Company has added such items as catfish fingers, specialty salads and other promotional products that fit with this menu simplicity.

The Company seeks to provide customers with maximum convenience by offering convenient take-out service in addition to its lively and entertaining sit-down experience. The Company's restaurants have been designed specifically to accommodate a significant level of take-out sales, including a separate take-out counter. A majority of the Company's locations utilize a full service style of serving guests.

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