All American Gold Corp’s Business is Growing Fast
Las Vegas, NV , May 04, 2022 (GLOBE NEWSWIRE) -- All American Gold Corp. (OTC Pink: AAGC) is excited to update the public about recent and future advancements of Hollywood Star Cuts.
Hollywood Star Cuts, a full-service hair salon with a fun and exciting Hollywood and Southern California theme, owned and operated by All American God Corp., is delighted to update the public about the Company’s enormous accomplishments thus far in 2022 and beyond.
Hollywood Star Cuts successfully opened the Company’s third location April 1st, 2022, located at 150 Caldwell Blvd in Nampa, Idaho, offering the highest quality of service in the Hair Care Industry. This location will be the Corporate Model and design example of future locations Nationally. The stylish décor, combined with a fun Hollywood themed atmosphere, has been an instant success, providing an operational profit immediately.
Hollywood Star Cuts will be opening another location at 279 N Milwaukee Blvd, Boise, ID later in May 2022. A location on State St in Boise, ID is scheduled to open in August 2022.
April has been an outstanding month for Hollywood Star Cuts providing a blueprint of things to come. Along with new store openings, Hollywood Star Cuts is excited to announce that the Company has entered into agreements with two organizations with a lucrative history of operating franchises. Both organizations have agreed to develop and operate Hollywood Star Cuts locations in Western and Southern Florida. One concentrating in the Tampa, FL area and the other concentrating on the Naples, FL area. Both organizations have agreed to open a minimum of three (3) locations in late 2022 with a goal of ten (10) operating locations each by the end of 2023. These organizations have decades of experience owning and operating well-known National franchises in both the food industry as well as the personal care industry. Both organizations are attracted to the business model, the concept, the ease of entry and operation and the profitability of Hollywood Star Cuts. The Hair Care Industry has proven to be immune to supply chain issues due to the fact that it is a service-based industry and has also proven to be mostly recession proof.
The average Hollywood Star Cuts conducts 32 transactions a day at an average transaction of $27.00. This translates to a daily transaction average of roughly $865.00. Hollywood Star Cuts locations are typically open Monday through Saturday (closed Sunday) averaging $5,000.00 per week in total revenue. The typical Hollywood Star Cuts location will average $200,000 - $250,000 per year. With an operating profit of roughly 30%.
Hollywood Star Cuts is expecting to announce more agreements in other locations Nationally throughout 2022 and 2023.
All American Gold Corp. along with Hollywood Star Cuts feels confident that the company can raise guidance for 2023. It was initially expected that the Company would be operating 8-10 (both Corporate locations as well as Franchise) locations by the end of 2023. Due to the acceptance of the Hollywood Star Cuts Concept, the Company will be increasing its expectations to 20 to 25 locations (both Corporate and Franchise) by the end of 2023.
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Forward-Looking Statement Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. 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 such forward-looking statements. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
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