After extensive negotiations, on
The LOI enables Hollywood Star Cuts, their legal representatives and their enlisted accounting firm the ability to properly examine the Acquisition Target’s financials as well as all property leases and equipment leases.
The LOI states that Hollywood Star Cuts has sixty (60) days to complete the Due Diligence process to confirm the Acquisition’s financials and liabilities involved. Once the financials and liabilities have been confirmed, Hollywood Star Cuts and the Acquisition Target will establish a final acquisition price as well as a projected closing date.
The Acquisition Target currently operates twelve (12) locations in
The initial review of the target salon’s financials indicate that the Acquisition Target salons generated just over
Hollywood Star Cuts believes that after re-designing the salons to match the
Hollywood Star Cuts is a chain of full-service Hair Salons that is rapidly growing across
Hollywood Star Cuts has received the Company’s initial shipment of tanning booths. The booths have been installed at 2 locations with 2 more in progress.
The initial response has been outstanding. Existing salon customers enjoy the expanded Movie-Star experience. The tanning booths have attracted many new customers to our locations, adding to an already expanding customer base.
The addition of tanning booths in a separate, soothing room, provides 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 leader and innovator in the industry.
Hollywood Star Cuts continues to receive unsolicited inquiries pertaining to franchise opportunities in nearly every region of
Managing growth through franchising will be key to a lucrative future for Hollywood Star Cuts and AAGC. To manage the massive acceleration of Hollywood Star Cut’s franchise growth, AAGC and Hollywood Star Cuts has enlisted the services of a professional franchise management organization. This
The public is also invited to follow us on Facebook and 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
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