$GRNE NEWS:Richard Surber, CEO, Issues Letter to Shareholders SALT LAKE CITY, April 4, 2011 /PRNewswire via COMTEX/ -- Richard Surber, CEO of Green Endeavors, Inc. (otcqb:GRNE), a majority owned subsidiary of Nexia Holdings, Inc. (otc pink:NXHD) issued the following statement:
The purpose of this letter is to set forth my intermediate and long term plans to grow our premier brand, Landis Lifestyle Salons, built around the world class Aveda(TM) products. I have spent the last 5 years painstakingly developing our salon businesses with the substantial help of a talented and hard working staff. GRNE is now the owner of two of the top producing salons in the state of Utah. Today, thanks to the efforts of Logan C. Fast (Aveda Purfessional, Lead Educator, Vice President and Director of GRNE), Landis Salons are well known for its vigorous education program designed to produce the best stylists. Highly skilled stylists directly translate into the best guest services. Outstanding service by our small army of over 70 talented individuals is the engine that is driving our financial growth.
We are once again on the march to retain additional talent, namely stylists, in anticipation of opening additional locations. I have surveyed what will most likely be our third location in, Draper, Utah. I have obtained the initial architectural plans for the 2,500 sq. ft. location which may have between 12 to 14 cutting stations. I am in the initial stages of negotiating a long-term lease. I would expect this process to move very quickly once we raise the necessary capital to ensure a successful launch. I am reaching out to long term investors in an effort to obtain what I hope will be $1.5M in equity and debt financing within the next 12 months. This sum would be sufficient to successfully launch our Draper location and a fourth location. The intent is to purchase the underlying real estate for the fourth location based upon certain financing requirements.
The intermediate plan is to dominate the Utah hair salon markets with salons that have the capacity to generate over $1M in annual revenues. Our aim is to gain national recognition with our brand by leveraging the new talent that will be emerging from the newly opened Aveda(TM) Institutes in Utah and our existing staff of top notch stylists and managers. Over the long term the intent is to use our local success and national recognition as the catalyst to then acquire only the best operating salons in the country. Currently, I know of no other publicly traded hair salon company that occupies the high end segment of the market. However, I am aware of many other well run Aveda(TM) salons that operate throughout the United States and Canada. These salons are privately owned enterprises that are the most elite Aveda(TM) salons in the world. Inevitably, these owners will be looking for an exit strategy or a way to further grow their very successful businesses, which is where the public financial markets come into play.
My belief is that GRNE will be able to capitalize on what is a multibillion dollar industry that is relatively fragmented in the coming months and years. GRNE could use its status as a publicly traded company to acquire additional salon locations, as well as attract top tier talent. Building a business that has superior guest services, a superior product (Aveda(TM)), earth conscious, makes education a hallmark of its business strategy, and creates a great work atmosphere are the pillars of our continued success.
I hope this letter provides some guidance on where our team would like to take Green Endeavors in the future.