Salt Lake City, UT - January 08, 2015 - InvestorsHub
NewsWire - Green Endeavors, Inc. (PINKSHEETS:
GRNE), a majority owned subsidiary of Nexia Holdings, Inc.
(PINKSHEETS:
NXHD), continues its’ scouting efforts for new salon
locations.
One of GRNE's core values is growth. In line with our
belief in growth, we are continually looking for new markets to
potentially enter. One market that we believe would be ideal
to enter is Portland. "Based upon our initial research, there are
no Aveda™ Lifestyle Salons that do what we do in or around
Portland," noted Richard Surber, CEO. Mr. Surber continued,
"We have looked at over 4 prospective locations that have ideal
demographics for a Landis Lifestyle Salon location in the Portland
market."
Recently, one of our top stylists with over 25 years in the
salon industry and 9 years with our organization relocated to
Portland, Oregon. Over the last 4 months, he has been looking
at prospective locations along with one of Estee Lauders' managers
of new business for the region. "Continuing our partnership
with Aveda™ and building upon our relationship with one of the best
stylists in the industry could be the catalyst for expansion of our
brand out of state," Mr. Surber pointed out.
Mr. Surber continued, "I am bringing this opportunity to the
attention of our shareholders as a result of receiving numerous
inquiries about our plans for expansion. A few months back I
pointed out that GRNE is the only publicly traded salon company
that I know of that owns high-end salons with aspirations for
national expansion. Our goal is to open at least 6
corporately owned salons from the ground up and then pursue an
acquisition strategy of acquiring other high-end salons that have a
partnership with Aveda™. The type of salons I am referring to
are those that produce over $2M in gross revenues per
location. A good example of the financial performance of the
salons I am referencing can be seen at: http://www.2to10project.com/member.html. 42
member salon companies of the 2to10 project, a division of Qunity,
Inc., run by Tom Kuhn gives the public a glance into what some of
the top private salons are doing in terms of revenues and
EBITDA. The 42 members are generating a total of $379,266,150
in gross revenues. Average revenues per company are
$9,030,146. The 2to10project members report total EBITDA of
$27,189,439 less normalized owners’ compensation. Each member
salon company on average owns 4.2 salons. These 42 members
and more are all potential roll up candidates in my opinion."
Mr. Surber explained, "I am not in the business of running a
public company for a small play. I am in it to grow a
phenomenal world class organization. The answer is that there is no
other mid to high end salon franchise that is public that I am
aware of. The potential is huge within the high end salon
segment of the market. Regis occupies the lower end segment
of the market and their margins look like that of a grocery
store. The mid to high end salon market has healthy
margins. The salon industry is a multi-billion dollar
industry that is recession proof, when run correctly. There
is a huge play to be made. Most of the truly exceptional
salon owners are approaching retirement age. They need a
great exit strategy. Going public by being acquired by GRNE
could be the best strategy. We only need to acquire 10% of a
sampling of salons like those featured on the 2to10 project website
and GRNE would be a force to be reckoned with."
Mr. Surber concluded, "I continue my search for reputable
investment bankers in an effort to obtain capital at reasonable
rate so we can attract the best talent and the best salons in the
business to accelerate GRNE's growth."
About Green Endeavors, Inc.:
Green Endeavors, Inc. (PINKSHEETS:
GRNE), headquartered in Salt Lake City, Utah, is a holding
company with operations in health & beauty. GRNE’s wholly owned
subsidiaries, Landis Salons, Inc. and Landis Salons II, Inc.
http://www.landissalons.com, operate hair salons built
around the world-class AVEDA™ product line. Our newest wholly owned
subsidiary Landis Experience Center, LLC, http://www.avedaatcitycreek.com, sells a full array of
Aveda™ products. For more information, visit http://www.green-endeavors.com. GRNE strongly
encourages the public to read the above information in conjunction
with its filings and disclosures filed in 2012 and 2013. GRNE's
disclosures can be viewed at www.sec.gov and www.otcmarkets.com. Investors should not invest
more than they can afford to lose in penny stocks.
Green Endeavors, Inc.