Famous Dave's Refranchising Remaining Company-Owned Locations

Franchisees will become the front-and-center focus of Famous Dave's during the next 24 months as the brand refranchises all remaining company-owned locations. Officials say the initiative will generate cash and allow the company to shift its resources and energy to the growth and viability of its franchise system.

The move is the final chapter in the brand's strategy to refranchise. Last year, all of its Chicago-area company-operated locations were sold to a franchisee. The company currently owns 33 locations while its franchisees operate another 135. Famous Dave's is shifting its efforts and focus to the success of its franchisees and says refranchising is a critical initiative to create value for the brand's shareholders.

Mike Lister, chief executive and operating officer for Famous Dave's says transitioning the company-owned restaurant ownership and operations fully to franchisees "will enable our team to focus our efforts on food and beverage innovation, marketing, franchise operations, training, and development."