SALT LAKE CITY, UT / ACCESSWIRE / January 08, 2015 / Green Endeavors, Inc. (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(TM) 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(TM) 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(TM). 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. (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.landissalon.com, operate hair salons built around the world-class AVEDA(TM) product line. Our newest wholly owned subsidiary Landis Experience Center, LLC, http://www.avedaatcitycreek.com, sells a full array of Aveda(TM) 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.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
Green Endeavors, Inc.
801-575-8073 x 106
SOURCE: Green Endeavors, Inc.