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Hollywood Star Cuts enters the Phoenix market in a big

Hollywood Star Cuts enters the Phoenix market in a big

 


Las Vegas, NV, Aug. 16, 2022 (GLOBE NEWSWIRE) — All American Gold Corp. (OTC:AAGC) is very pleased to announce that the company has signed a letter of intent to purchase a chain of hair salons located in the greater Phoenix, Arizona area.

After long negotiations, on August 11e2022, Hollywood Star Cuts entered into a letter of intent (LOI) to purchase an existing chain of hair salons located in the rapidly growing market of Phoenix, Arizona.

The letter of intent allows Hollywood Star Cuts, its legal representatives and its accounting firm to properly review the financials of acquisition targets as well as all real estate leases and equipment leases.

The letter of intent states that Hollywood Star Cuts has sixty (60) days to complete the due diligence process to confirm the financials and liabilities of the acquisitions involved. Once financial statements and liabilities are confirmed, Hollywood Star Cuts and the acquisition target will establish a final acquisition price and an expected closing date.

The acquisition target currently operates twelve (12) locations in Phoenix, Scottsdale, Tempe, Goodyear, Mesa, Glendale and Surprise, Arizona. The letter of intent indicates the intent to purchase eight (8) of the current locations, converting them to Hollywood Star Cuts Corporate locations, with the remaining four (4) locations becoming Hollywood Star Cuts franchise locations. The franchised locations will be operated by the current lounge operators.

The initial review of Target Salons financials indicates that Acquisition Target Salons generated just over $900,000.00 in 2021 with net income of approximately $125,000.00.

Hollywood Star Cuts estimates that after redesigning the lounges to match the Hollywood and Southern California Beach theme of existing Hollywood Star Cuts lounges, as well as adding the highly lucrative tanning booths to the locations, sales will increase by 20-25% and profits will increase by 25-30%.

Hollywood Star Cuts is a rapidly growing full-service barbershop chain across the United States by aggressively opening company-owned locations and securing multimillion-dollar franchise deals in markets lucrative. Hollywood Star Cuts caters to the whole family with a range of exceptional services in a fun and dynamic Hollywood and movie star themed environment. Stepping into a Hollywood Star Cuts makes you the star of the show.

Hollywood Star Cuts received the company’s initial delivery of tanning booths. Booths have been installed in 2 locations and 2 more are in progress.

The initial response has been outstanding. Current lounge customers appreciate the expanded Movie-Star experience. The tanning booths have attracted many new customers to our establishments, adding to an already expanding clientele.

The addition of tanning booths in a separate, calming room is a major point of differentiation for Hollywood Star Cuts, setting the company apart from all other competitors. This will propel Hollywood Star Cuts to become the industry leader and innovator.

Hollywood Star Cuts continues to receive unsolicited inquiries regarding franchise opportunities in nearly every region of the United States and beyond.

Managing growth through the franchise will be key to a lucrative future for Hollywood Star Cuts and AAGC. To manage the massive acceleration in growth of the Hollywood Star Cuts franchise, AAGC and Hollywood Star Cuts have engaged the services of a professional franchise management organization. This East Coast-based organization currently operates fast food, massage, personal training and eyelash franchises. They have been tasked with looking for a Chief Operating Officer (COO) who has experience and is an expert in expanding franchises. Hollywood Star Cuts has created a 90-day window to identify the right person to lead the Franchise portion of Hollywood Star Cuts through the company’s massive growth.

All American Gold Corp will hold a conference call with shareholders on Thursday, September 8e at 7:00 p.m. Eastern Time. This call will be open to the public. Topics include year-end financials, expansion plans, audit update, and other company business. The call-in number will be (267) 807-9601. The access code will be 526-855-601. Management invites all interested parties to participate in the call. There will be a question and answer period following the presentation. Updates and reminders will be posted on Twitter.

Hollywood Star cuts is committed to providing the best in service and experience and is committed to becoming a leader in the multi-billion dollar hair care industry. Hollywood Star Cuts would like to thank all of its loyal customers, loyal staff members, and all who support the company.

All American Gold Corp. invites the public to follow us on Twitter @HStarcuts as most updates and communications will be made there.

The public is also invited to follow us on Facebook and online at www.hollywoodstarcuts.com.

Forward-Looking Statement All statements made in this press release that are not historical facts contain certain forward-looking statements; as that term is defined in the Private Security Litigation Reform Act of 1995, with respect to potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release relates. The actual results of the specific items described in this release, and the company’s operations generally, may differ materially from what is projected in these forward-looking statements. The company disclaims any obligation to update the information contained in the forward-looking statements. This press release should not be considered a general solicitation.

Twitter: @HStarcuts

www.hollywoodstarcuts.com

(760) 525-7411

Sources

1/ https://Google.com/

2/ https://www.globenewswire.com/news-release/2022/08/16/2499253/0/en/Hollywood-Star-Cuts-Entering-the-Phoenix-Market-in-a-Big-Way.html

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