I don't know who you play as, so I can't offer any specific sort of advice for this. However, I have a similar case here, and he's now becoming easily frustrated with the crew here. Want to know why?
We actually announce exactly what he's going to do just as he does it, then counters it justly.
"Forward Smash....Forward Smash...." etc... It's an out-of-game possible mindgame that could work to your advantage as it has for us here. He's breaking his habit....VERY .....SLOWLY.... X_X
As said before, shieldgrabbing works best for most Fsmashes. Another decent idea is to simply roll behind him as he approaches, then grab from behind. SHL only work for a certain amount of time before the cheapness approaches, but they're decently effective, nonetheless.
A fun strategy that I use on cheapies like this: UP+B....but not with Link. Mario's UP+B is very quick and can scoop the opposition away for a decent amount of damage each time. Since each hit does about 1%, they aren't powered down like most moves when abused (either that, or it takes a lot of abuse to see 0% hits....I've never spammed it THAT much). Feel free to throw in a line or two as you rack up the %s ...like "GIMME YO COINS, SUKKAH!" Or something along those lines. It's funny, it works most of the time, and it might shun his ways.
Remember Roy's Down+B? Yeah, if he's predictable, wreck his face with it. It hurts, trust me >.<
A lot of character's dash attacks can beat a fsmash if timed right. It depends on the matchup, however....
Remember: All the females in the game are professional football players! They can and WILL tackle on command.
(And no, I dont count Shiek or Jiggs.....because its questionable...
lolz)
Chaingrabs? Nuff said.
If he rolls a lot, chase him down during his rolls into a grab. Patience is a virtue with cheapies like this. Playing defensive is your best bet when he turns into that sort of player.
I can't think of any other possible tips. Hope these help =)