Hollywood Star Cuts Accelerates Its Rapid Growth
Las Vegas, NV , May 25, 2022 (GLOBE NEWSWIRE) -- All American Gold Corp. (OTC Pink: AAGC) is pleased to inform the public about recent and future advancements of Hollywood Star Cuts.
Hollywood Star Cuts, a rapidly growing chain of full-service hair salons with a fun and exciting Hollywood and Southern California theme, is delighted to update the public concerning the Company’s enormous accomplishments thus far in 2022 and beyond. Hollywood Star cuts is a wholly owned subsidiary of All American Gold Corp.
On May 12th, 2022, management of All American Gold Corp. and Hollywood Star Cuts met with a group that owns and operates a multi-location franchise of a National Haircutter located in the Greater Las Vegas area. The Las Vegas, Nevada based group indicated to the management of Hollywood Star Cuts that they were displeased with their current franchise agreement.
On May 17th, 2022, the lead partner of the Las Vegas based group visited the Hollywood Star Cuts Flagship location in Nampa, Idaho. The group’s representative was able to see the layout and witness the Movie Star experience in person. They were very impressed with the concept and the execution of the business model.
On May 19th, 2022, the group agreed to convert their existing locations in the Greater Las Vegas area into Hollywood Star Cuts and become the exclusive franchise representative in Southern Nevada once their current agreement expires with their current franchisor. Their agreement is set to expire on the last day of November 2022. The Las Vegas Group currently operates 7 franchise locations and has lease agreements to open and operate 3 more locations in the next 6 months, bringing the total of locations to be converted to Hollywood Star Cuts to 10 in Southern Nevada.
Hollywood Star Cuts is adapting a rapid growth strategy. This strategy includes growth through expansion of Corporate owned stores, as well as implementing an aggressive franchise program Nationally.
Currently, All American Gold Corp and Hollywood Star Cuts has agreements with groups in 3 lucrative and rapidly expanding geographic areas. Those areas are the Tampa Florida, the Naples Florida and the Las Vegas, Nevada areas. Hollywood Star cuts is also in discussions with an experienced group interested in operating the Hollywood themed full-service salons in the Central Texas area.
Hollywood Star Cuts is currently preparing for the grand opening of its newest location at 279 N Milwaukee Blvd, Boise, Idaho.
Hollywood Star Cuts is targeting 100 locations in 36 months. The Company is expecting to be operating 10 Corporate locations as well as 90 Franchise locations. 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 is expected to generate roughly $200,000.00 in revenue and a pre-tax profit margin of 28-30%. Hollywood Star Cuts currently operates 3 Corporate location with a 4th opening soon in the rapidly expanding Greater Boise, Idaho area.
All American Gold Corp will be conducting a Shareholder Conference Call on Thursday, June 9th at 7:00PM Eastern Time. This call will be open to the public. Among topics to be discussed will include expansion plans as well as other company business. The dial-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 after the presentation.
Hollywood Star cuts is dedicated to offering the very 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 their loyal customers, their loyal staff members and all who support the Company.
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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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