V Groups largest incubation project to date.
V Group, Inc. is pleased to release details pertaining to the Companys largest and most exciting incubation project to date.
Hollywood Star Cuts becomes a reality in June 2017.
Hollywood Star Cuts, a themed hair cutter, will be a wholly owned subsidiary of V Group, Inc. In keeping with the Companys commitment to adding value for its shareholders and as discussed in previous announcements and shareholder conference calls, V Group, Inc. is in the process of incubating the new venture for the purpose of expansion and to spin the venture off into its own public entity.
Hollywood Star Cuts will be entering a multi-billion dollar domestic industry. The family hair cutter will be adding excitement and excellence to a fast-growing industry. The themed haircutter will be targeting customers of all ages with a fun and dynamic atmosphere with the glamor of a Hollywood action movie. When a person walks into one of our haircutters, they will be treated like they are a star on a big budget movie set. States Larry Twombly, CEO of V Group, Inc. The customer will be greeted by a plethora of wide screen TVs playing movies and coming attractions. The dcor will be loaded with Hollywood themed decorations to add to the experience.
The average store is expecting to do an average of 85 full service haircuts per day (industry average). The Company is anticipating the average ticket price to be roughly $25.00 per transaction. This equated to an average annual revenue of over $700,000.00 per location.
It is with great pleasure that the Company is announcing that the negotiations for the first store location has been completed. The first location will be in the fast growing and affluent area of Southern New Hampshire. On June 5th, management of V Group, Inc. will be traveling to the area to sign the lease and start the necessary paperwork to move the project forward. Once the lease is signed, the Company can file for the appropriate permits needed to build out the location. While in the area, the Management will be interviewing management candidates with experience. Once this process is completed, Hollywood Star Cuts will be able to target a World Premier for its first location. The Company is preparing to open as many as 3 locations in the Southern NH and Northern Mass area and 3 more locations in the Southern California area. The Company will also be developing franchise strategy to allow for rapid growth over the next 5-10 years.
This is a very exciting time for V Group. States Mr. Twombly. We are committed to create opportunities for our shareholders in a way not often seen. We made a bold commitment of incubating as many as 7 companies over the next 5 years and I expect to reach that challenge and possibly exceed it. This commitment we owe to every shareholder and investor.
More information will be released to the public, with the intension of keeping shareholders informed as soon as it is available. The management of V Group, Inc. would like to thank its Shareholders, Partners, Vendors and customers.
V Group, Inc.
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