SALT LAKE CITY, UT--(Marketwired - Oct 4, 2016) - Green Endeavors, Inc. (OTC PINK: GRNE), a majority owned subsidiary of Sack Lunch Productions, Inc. (OTC PINK: SAKL), announced that it has retained salon industry expert Tom Kuhn as an advisor to further advance its strategy to acquire and roll up high-end salons.
In an initial feasibility project, Kuhn is identifying possible acquisition targets, lending research and data specific to the multi-location salon market, recommending structures and models, and addressing the viability of each opportunity given the realities of the salon industry. At the end of the project, Kuhn and Green Endeavors will explore further areas of collaboration.
Kuhn is CEO and owner of Qnity, Inc., a Minneapolis-based education company that teaches business and entrepreneurship to creative, right brain professionals. He is also the founder and CEO of The 2 to 10 Project, a $350,000,000, 45 company, multi-location benchmarking and networking collaborative for salon market leaders.
Kuhn has spent the last 35 years helping creative entrepreneurs prosper. He has the street credit that comes from successfully running multi-location salons, including six years as president and co-owner of JUUT Salonspa, the original AVEDA™ salon, which during his tenure had eight locations in Minnesota and California, 400 people and more than $20 million of revenue. He also is a former CPA and an artist known for his ability to equally connect with both the creative and business members of teams.
Kuhn says, "It's about time. What Green Endeavors is offering is sorely needed. Even top salons lack an exit strategy. One reason, simply put, is the lack of buyers. Or the only potential buyers are family members or key employees that lack the financial resources to provide cash to the seller."
"Most salon owners are small business owners, entrepreneurs that have spent decades building their business. The majority of their net worth is locked in their business. Although many are at or approaching retirement age, most haven't even addressed their exit plan. The clock is ticking very fast for them. This is both risky and scary for these operators," Kuhn added.
"Over the past six months, I've had a surge of phone calls from multi-location owners who are looking to sell, or begin to more seriously address their exit strategy. I'm excited to look more closely at what is a very compelling opportunity with multiple benefits to the owners AND their teams," stated Kuhn.
The owner would be able to receive cash and tax benefits as part of the transaction. The acquired salon would be able to keep their regional brand while having access to the best possible resources and talent that they otherwise would not be able to afford, specifically in the areas of marketing, education, operations, HR and financial management. The acquired salons' teams can continue to enjoy the benefits of a heart-centered culture while enjoying the opportunity to become part of something bigger and more secure.
Owners would be able to provide stock to key employees -- to both management and top producers, proactively addressing one of the most critical issues in the industry right now -- staff retention.
"This has the potential to fill a major void in our industry. There is work to be done to perfect this model. For Green Endeavors to succeed, it must have a model that will be highly compelling to attract and retain top talent at the local salon level. It must be an employer of choice and must provide the very best education and creative outlets."
"I've had conversations with some of the top players about this project. I can tell you there is a VERY high level of interest. With three to five transactions with the right partners, Green Endeavors can become a major player, innovator and market leader."
"I applaud Mr. Surber for his initiative and his commitment to making this a viable option for the right salon companies."
Richard Surber says, "Tom Kuhn has the credibility, experience and street credit to help us right now. He is the premier expert in multi-location salons. With The 2 to 10 Project, he not only defined a new category of salons (salons with between two and ten locations, the sweet spot of the salon industry and 80% of the multi-location salon market), he also created a community of peers -- multi-location market leaders that represent the upper 4% of the US Salon Market."
Over the last six years, with 2 to 10, Kuhn has led an unbiased and unprecedented research and data collection process to come up with the first multi-location benchmarks catered to small chains. In addition, he has curated a library of information and best practices collected through rigorous annual research.
Kuhn has earned the trust and endorsements from top salons in the US and Canada. He has had access to the P & L's for over 200 of the top multi-location salon groups. And in past projects he has advised small (under 10 locations) to large (1,000+ locations) salon chains.
Kuhn adds, "The salon industry is being disrupted today. This is a rapidly changing industry. I believe with what Green Endeavors is proposing, there is a potential for it to be a highly prosperous opportunity for all parties. I am excited about this project and for the opportunity to collaborate with Green Endeavors."
About Green Endeavors, Inc.:
Green Endeavors, Inc. (OTC PINK: 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 AVEDATM product line. 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 2015 and 2016. 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.
About Qnity, Inc.
Qnity, Inc. is a privately owned company headquartered in Minneapolis, MN, with an office in Chicago. Over the last six years, Qnity has had over 4,500 graduates of its four module, signature Q Program. Primarily with its strategic partnership with AVEDA™. Qnity programs consistently score 90+ on the Net Promoter Score (over 75 is 'world class'). Qnity takes a "right brain approach to get left brain results." Qnity offers extensive peer support through its "Qmunity," including over 150 active "Ambassadors." For more information go to qnityinc.com