SOURCE: Nexia Holdings, Inc.

November 08, 2005 09:00 ET

Nexia Subsidiary Acquires Interest in Aveda™ Lifestyle Salon

SALT LAKE CITY, UT -- (MARKET WIRE) -- November 8, 2005 -- Nexia Holdings, Inc. (OTC BB: NEXH) announced today that it intends to diversify its operations by investing in various promising enterprises. Nexia has concluded its due diligence on the feasibility of investing in Landis, LLC. a Utah limited liability company of which 20% is presently held by Nexia. Landis, LLC has been created for the purpose of operating an Aveda™ Lifestyle Salon at 1298 South 900 East in Salt Lake City, Utah. The Salon will be run by its President Matthew Landis. Mr. Landis has worked with Aveda™ for over ten years in salons in Salt Lake City, Manhattan, Atlanta, and Miami Beach.


The Salon will be an Aveda™ lifestyle salon that features a wide array of Aveda™ products. The location is on prime real estate with a high traffic count and excellent street visibility. The salon is located in a building providing 3,800 sq. ft. of space. The start up costs for the salon are approximately $400,000, consisting of $250,000 in tenant improvements (virtually all of which has been completed at this point), $75,000 in furniture and fixtures and $75,000 in working capital.

The plans call for the allocation of approximately 750 sq. ft. of retail space for the sale of Aveda™ products and salon space for 20 chairs. The salon will open November 9, 2005.

Mr. Richard Surber noted that "Nexia's initial investment will be $100,000 which will purchase a 20% interest in Landis, LLC. As Landis, LLC procures additional investment dollars Nexia's ownership interest may change. Revenue projections for the first year of operation range from $890,000 to as high as $1.4 million with a net profit ranging from $74,816 to $213,326. There is no guarantee that Landis, LLC will meet these projections or operate at a profit. However, Aveda™ Lifestyle Salons have an impressive success rate."

The Aveda™ product line of Aveda Corporation is a complete line of skin, hair care and styling products, with an emphasis on the experience and well being of the users made for use with an emphasis on the protection of the environment through the use of natural products and post consumer recycled material in the packing of the products. The web site found at http://www.aveda.com contains information regarding the product lines and mission statement of the Aveda Corporation. Nexia is a holding company with interests in real estate and other assets.

Nexia is a high risk, volatile investment. Investors should not invest any monies which they cannot afford to lose. Additionally, Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 31, 2004 and its June 30, 2005 Form 10-QSB. Nexia's disclosures can be viewed at www.sec.gov or visit www.nexiaholdings.com

Contact Information

  • FOR MORE INFORMATION, CONTACT:
    Nexia Holdings, Inc.
    Richard Surber, President
    801-575-8073 Ext. 106
    Fax: 801-575-8092
    or email hudconsult@aol.com