LAS VEGAS, Aug. 07, 2024 (GLOBE NEWSWIRE) -- All American Gold Corp. (OTC: AAGC) is very excited to update the public about AAGC’s agreement with an existing Hair-Care Franchise group to join the Hollywood Star Cuts family.
On August 5th, 2024, Hollywood Star Cuts entered into an agreement with a Utah based group that currently owns and operates twelve (12) full-service family hair salons. These salons are presently being operated under a multi-national franchise brand name. Representatives of the Utah group spent the weekend in Boise Idaho touring the Hollywood Star Cuts facilities and gaining a complete understanding of the HSC business model and franchise opportunity.
The Utah based organization currently operates three (3) locations in Northern Nevada including Reno and Carson City. They own and operate two (2) locations in Southern Utah including St. George. The remainder of the locations are concentrated in the Greater Salt Lake City area including Ogden and Provo. The agreements with the group’s current franchisor begin to expire late September 2024.
The agreement is as follows:
Hollywood Star Cuts will purchase 1 location in St. George Utah in October 2024, converting the location to conform with the Hollywood Star Cuts model consisting of Hair and Beauty Care along with Tanning Services.
Five (5) locations in the Greater Salt Lake City area will begin the transformation to Hollywood Star Cuts in October 2024 with tanning services added.
The remaining six (6) locations will be converted to Hollywood Star Cuts from November 2024 through March 2025 as their current individual franchise agreements expire. All locations will adopt the successful HSC model of both Haircare and Tanning facilities.
The initial agreement will extend for a period no less than five (5) years with the option to renew for five (5) more years.
Under this agreement, the Utah group will secure the first right of refusal for all subsequent Hollywood Star Cuts to be developed in the State of Utah and the area of Reno Nevada.
Financial Impact:
The Utah Group’s salons generated roughly $1,675,00.00 in 2023 with a projected 20% increase for 2024. The Utah based salons are currently profitable.
Combined with Hollywood Star Cuts’ current operations, total projected revenue for 2024 is roughly $5,000,000.00 bringing the total number of operating Hollywood Star Cuts to 30 locations nationwide.
Minor financial accommodations will be finalized when management from Hollywood Star Cuts and AAGC visit Utah the weekend of August 15th 2024 and tour the Hair-Care facilities.
Management of Hollywood Star Cuts and AAGC is excited about this growth opportunity as well as other future growth opportunities for the HCS brand.
In November of 2023 All American Gold Corp. (AAGC) instituted a program by which 20% of the corporate monthly profits would be targeted for the purpose of purchasing common shares of AAGC. This allows the Company the ability to limit the share structure without effecting or jeopardizing any future growth plans. The Company currently carries no outstanding debt and it is the Company’s intention to contain the outstanding shares without ever doing a reverse split or accumulating toxic debt.
Hollywood Star Cuts is a Full-Service Family Hair and Beauty Salon with Tanning available at most locations. Hollywood Star Cuts is a “Themed” Beauty/Tanning Salon where the customer is treated like a “Movie Star”, and they are the “Star of the Show”! Hollywood Star Cuts currently operates multiple Corporate owned locations in the greater Boise area and is developing Franchise locations across The United States concentrating in the Florida, Utah, Texas and Nevada areas.
Hollywood Star Cuts utilizes the Company’s “Mega Production Studio” in Boise Idaho to train future franchise operators in the vision of creating an environment where the customer knows they are the “Star of the Show”.
The “Mega Production Studio” encompasses everything possible with all Hollywood Star Cuts models. The Mega Production Studio consists of 8 Hair-Care stations, 2 Nail-Care stations, a separate room for Tanning with a Tanning Booth and a Tanning Bed and a separate room with 2 Esthetician and Skin-Care stations. The future Franchise partner can witness the operation and decide which combination is perfect for their franchise locations.
Once Hollywood Star cuts and AAGC complete the auditing process. All American Gold Corp. will be officially changing their name to All American Glamour Corp., keeping the existing ticker symbol of AAGC.
As always, Hollywood Star Cuts and All American Gold Corp. would like to thank our fabulous crew members, our brilliant franchisees, our fantastic vendors, our excellent investors and all future investors for their hard work and commitment to the vision that is Hollywood Star Cuts. Without all of them, Hollywood Star Cuts could not succeed.
All American Gold Corp. invites the public to follow us on X (Twitter) at HStarcuts as most updates and communication will be conducted there.
The public is also invited to follow us on Facebook and online at www.hollywoodstarcuts.com.
You’re the Star of the Show!
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.
Contact:
X (Twitter): @HStarcuts
www.hollywoodstarcuts.com
(760) 525-7411
