11.16.04
Day Spas of America, Inc. announced it has signed a letter of intent to purchase New Faces of Brandon, Inc., which has owned and operated a Merle Norman Cosmetics Studio retail outlet in the location for the past 20 years.
Day Spas of America will pay $115,000 cash by Dec. 31, 2004. Retail inventory is included in the purchase price and can not fall below $40,000 at cost at the time of closing, according to the terms of the agreement.
"We have been looking for the right line of cosmetics to offer our customers," said Marsha B. Whitman, chairman and chief executive officer, Day Spas of America. "To date we have not offered our spa customers qualified makeup specialists, let alone a product line of cosmetics with the national branding and quality of Merle Norman. Our acquisition of this Merle Norman studio will allow us to open 500 square foot Merle Norman studios in each of our day spas with no additional franchise fees due to Merle Norman Corporate. Our revenue and profit per location will increase dramatically with this new division."
Day Spas of America services include massage, acupuncture, facials, body wraps, pedicures, manicures, non-surgical "face lifts," hair care, permanent makeup, paraffin treatments, waxing and tanning. The company is currently formulating private label products as well.
Day Spas of America will pay $115,000 cash by Dec. 31, 2004. Retail inventory is included in the purchase price and can not fall below $40,000 at cost at the time of closing, according to the terms of the agreement.
"We have been looking for the right line of cosmetics to offer our customers," said Marsha B. Whitman, chairman and chief executive officer, Day Spas of America. "To date we have not offered our spa customers qualified makeup specialists, let alone a product line of cosmetics with the national branding and quality of Merle Norman. Our acquisition of this Merle Norman studio will allow us to open 500 square foot Merle Norman studios in each of our day spas with no additional franchise fees due to Merle Norman Corporate. Our revenue and profit per location will increase dramatically with this new division."
Day Spas of America services include massage, acupuncture, facials, body wraps, pedicures, manicures, non-surgical "face lifts," hair care, permanent makeup, paraffin treatments, waxing and tanning. The company is currently formulating private label products as well.