(via NewsDirect)
On
Hollywood Star Cuts is a
On
On
As stated in an earlier Press Release dated
The independent auditing firm enlisted by
Hollywood Star Cuts will be immediately closing one (1) location in
The remaining ten (10) locations will operate without change for 60 days. Hollywood Star Cuts will be monitoring the operations of the Tanning Salons and creating a plan of action to convert the operating Tanning Salons into Tanning/Hair-Care Salons and creating the “Movie Star” experience that is launching Hollywood Star Cuts into the industry leader and a difference maker in this multi-billion-dollar industry.
Hollywood Star Cuts will be converting 2 locations into Tanning/Hair-Care Salons at a time. Each conversion is expected to take 30 days to complete. Doing the conversions incrementally will allow Hollywood Star Cuts the ability to remodel according to the Company’s specifications while maintaining revenues and retaining the current customer base. During the remodel process, Hollywood Star Cuts will be interviewing Franchise Partner Candidates for each geographical area.
An outline of the acquisition terms are as follows:
Year Ending 2022, the Tanning Salons generated approximately
Hollywood Star Cuts agreed to pay two times (2X) earnings for the entire operating business, a total of
One Hundred Thousand Dollars (
The balance (
Structuring the purchase in this way, allows Hollywood Star Cuts the ability to use current and future revenues to purchase such a valuable asset without seeking major outside financing or the “toxic” financing that plagues most small and micro-cap public entities.
Hollywood Star Cuts is committed to the advancement of its brand. Hollywood Star Cuts believes this cutting-edge acquisition allows for rapid and responsible growth. This acquisition allows Hollywood Star Cuts to add massive revenue in a responsible and manageable way. Hollywood Star Cuts is enthusiastic about the Company’s growth prospects and expects to expand rapidly through 2023 and 2024.
AAGC and Hollywood Star Cuts will be conducting a Year-End Public Conference Call on
Topics discussed will be: Year-End revenues and Earnings.
Recent Purchase and Acquisitions.
Growing Franchise Opportunities.
Other Subjects as Needed.
Once the address of the Company Officer is completed, participants of the Conference Call are encouraged to ask questions to ensure clarity.
Time:
Call in Number: 267-807-9601
Access Code: 526-855-601
As always,
The public is also invited to follow us onFacebookand online at www.hollywoodstarcuts.com.
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.
Twitter: @HStarcuts
www.hollywoodstarcuts.com
(760) 525-7411
Contact Details
Hollywood Star Cuts
+1 760-525-7411
Company Website
http://www.hollywoodstarcuts.com/
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Copyright (c) 2023 TheNewswire - All rights reserved., source