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2. Forward-Looking Statement
2 2016 Green Endeavors | www.green-endeavors.com
This presentation contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results,
future expansion, or future developments involving Green Endeavors may constitute forward-
looking statements. The statements may be identified by words such as “expect,” “look forward
to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of
similar meaning. Such statements are based on the current expectations and certain assumptions
of Green Endeavors’ management, of which many are beyond control. These are subject to a
number of risks, uncertainties, and factors, including but not limited to those described in
disclosures, in particular in the chapter Risks in the Annual Report. Should one or more of these risks
or uncertainties materialize, or should underlying expectations not occur or assumptions prove
incorrect, actual results, performance, or achievements of Green Endeavors may (negatively or
positively) vary materially from those described explicitly or implicitly in the relevant forward-looking
statement. Green Endeavors neither intends, nor assumes any obligation, to update or revise these
forward-looking statements in light of developments which differ from those anticipated.
This presentation includes supplemental financial measures that are or may be non-GAAP financial
measures. These supplemental financial measures should not be viewed in isolation or as
alternatives to measures of Green Endeavors net assets and financial positions or results of
operations as presented in accordance with IFRS in its Consolidated Financial Statements. Other
companies that report or describe similarly titled financial measures may calculate them
differently. Due to rounding, numbers presented throughout this and other documents may not
add up precisely to the totals provided and percentages may not precisely reflect the absolute
figures.
3. • Owner/operator of premium hair
salons under Landis brand
• Three Locations in Salt Lake City
• 69 Full-Time Employees
• Founded in 2005
• 2016 Revenue $3.3M
• Positioned for Salon Roll-Up
3 2016 Green Endeavors | www.green-endeavors.com
Green Endeavors Today
4. Green Endeavors Key Stock Facts
4
Exchange: Ticker OTC: GRNE
Recent Price $0.50
Shares Outstanding 4.7 million
Float .5 million
Market Cap $2.37 million
Revenue (ttm) $3.2 million
Data as of November 16, 2016
2016 Green Endeavors | www.green-endeavors.com
6. Corporate Overview
6 2016 Green Endeavors | www.green-endeavors.com
The $60B salon industry is highly fragmented and ripe for a roll-up.
The best salons live in the ‘2 to 10’category: regional, high-end chains
with between 2 and 10 locations. Sales are 12x the industry average in
this category.
Baby boomer owners of these highly successful brands lack exit options.
Our future CEO not only knows the ‘2 to 10’ category, he created it. And
he has the relational capital with these salon owners, the business
model and the team to execute.
Green Endeavors was designed for and is strategically positioned to
seize the opportunity for a lucrative salon roll-up. It now has the winning
formula resulting in a highly attractive investment opportunity.
Corporate Strategy Overview
7. Key Leadership
7 2016 Green Endeavors | www.green-endeavors.com
CEO of Qnity & the 2 to 10 Project;
CEO candidate for GRNE
• Owner of Qnity, Inc., Minneapolis-based Training & Coaching Firm
• Founder and CEO of The 2 to 10 Project, a $350M, 45 company, multi-
location benchmarking and networking collaborative for salon market
leaders (2to10project.com)
• Known for strong leadership and management skills; C Level positions in all
segments of salon industry
• Street credit from running / advising successful multi location salons; 6 years
as President, COO and Co-Owner of JUUT Salonspa, 8 locations, 400 people
and $24+ mm of revenue
• Financial management – former CPA & CFO
• Known for his ability to equally connect with both the creative and business
members of teams
• 35 years helping creative entrepreneurs prosper, developed tools for
communicating to and motivating creative professionals that are typically
adverse to financial matters and selling
• Endorsements from industry leaders
Tom Kuhn
To view visual bio go to:
http://qnityinc.com/pdf/tom-kuhn-pdf-bio.pdf
8. Experienced & Talented Executive Team
8 2016 Green Endeavors | www.green-endeavors.com
Future Executive team:
Name Withheld
Learning / Development
• 22 years in the Salon
Industry
• Former owner of $10mm
salon company
• Local awards - Woman
of Influence,
Entrepreneur of the
Year
• Qnity lead educator
Kerry Winslow
Operations
• Executive level in client
experience, operations,
communication for
large bank
• Leadership role merger
integration teams
• COO of salon chain,
turnaround
• Qnity consultant
Barry Matthews
Finance
• Rollup expertise (4
times); 160 locations,
coast to coast
• CFO $60mm salon (10
locations); oversaw sale
of company as CFO
• Lead analyst for 2 to 10
Project
• Qnity lead analyst
Richard Surber
Founder / Current CEO
• Director and controlling
shareholder
• Corporate law,
securities law, business
management, finance,
• Capital raising expertise
through the public
markets
• Employee benefit plans
under Form S-8.
9. Salon Industry Overview
9 2016 Green Endeavors | www.green-endeavors.com
§ Industry: $60B industry (USA); $170B (global)
§ Predictable, replenishment business
§ Performs well during economic downturns
§ Lower risk factors than many industries
§ Service and retail combined, synergistic
§ Salons: highly fragmented
§ 294,000 salons
§ 95% of salons are single location
§ Few large operators; no dominant consumer-
facing operator
§ Carry ‘professional products’ from suppliers
such as Aveda, L’Oreal, Proctor & Gamble, etc.
§ Stylists: 1M licensed cosmetologists (USA)
§ 87% female
§ 90% right brain dominant
§ 45% primary household earner
§ Resistant to selling: ‘just want to do hair’
NOTE: above are estimates
10. Investment Highlights
10
ü Ideal timing, motivated sellers:
ü Baby boomer salon owners nearing retirement
ü Lack of viable buyers / exit options for sellers
ü Favorable valuations / terms for buyers
ü Fewer risk factors than most industries:
ü Predictable, replenishment business
ü No threat of technological obsolescence
ü No threat of foreign competition
ü Industry performs well during economic downturns
ü Growth industry:
ü Service and retail synergistic revenue streams
ü Growth continued to outstrip the overall economy in
recent years
ü Projected to post steady job growth in the future
13. QNITY – Optimal Model for Success
13
ü High impact on stylists:
ü Qnity Program yields 2x-3x normal sales growth
ü 32% of participants earn 17%+ sales growth
ü High impact on managers:
ü Provides leadership training and tools to fill the
three biggest ‘gaps’ holding salons back:
engagement, execution and communication
ü Brings peer networks, research and community
ü RESULT: prosperity for stylists and the company; a culture
that is both heart-centered AND performance driven,
resulting in higher growth and staff retention
2016 Green Endeavors | www.green-endeavors.com
Qnity will deploy its
proven turnkey
operating system,
business model and
educational platform
for GRNE acquisition
targets for consistency
and high growth.
14. Jeffrey
QNITY – HIGH ROI
2016 Green Endeavors | www.green-endeavors.com
Kaylee
$750 investment in Qnity
$265,000 return (5 yr)
service sales:
before Qnity: $60k/yr
after Qnity: $113k/yr
$750 investment in Qnity
$75,000 return (5 yr)
retail sales:
before Qnity: $15k/yr
after Qnity: $30/yr
0
50
100
150
200
250
300
Thousands
Sales Increase
Q Class Fee $750
Before Qnity: service provider; After Qnity: intraprenuer
15. QNITY – Learn more, Watch YouTube videos
2016 Green Endeavors | www.green-endeavors.com
Access videos at qnityinc.com home page– see videos 1 and 3
16. Target: Salon Acquisition Profile
16
ü Between 2 and 10 locations
ü Average $7.5M of annual revenue; min. $4.5M
ü Regional market leaders, strong brand
recognition
ü Owner operated, entrepreneurial, non-franchise
ü Employee based, commission pay structure
ü Management team in place
ü Strong financial practices
ü Team likely to stay after acquisition
ü Opportunities for growth
2016 Green Endeavors | www.green-endeavors.com
See 2to10project.com
17. What’s Different: Our Approach
17
ü Keep respected regional brands intact
ü Qnity platform for accelerated growth,
consistency and optimization
ü Integration / culture on front end (vs after
thought) to retain staff
ü Minimal disruption to acquired salons
ü GRNE stock as a staff retention tool for
management and key producers
ü Utilize talent from the acquired businesses
to effect the whole
ü Learn from Regis Corp.
2016 Green Endeavors | www.green-endeavors.com
25. Pro Forma Financial Performance: 2017
25 2016 Green Endeavors | www.green-endeavors.com
Revenue
Cost of Revenue
Gross Margin
Gross Margin %
Operating Expenses
EBITDA
EBITDA %
[1] Acquired in Q4'16 with $1.2M bridge loan
[2] Acquired in Q1'17 with $1.2M bridge loan
[3] Acquired in Q2'17 with $10M investment, replacing bridge loan
Landis Target 1 [2] Target 2 [3] Salons Qnity [1] Combined
3,495 7,250 12,100 22,845 578 23,423
1,922 3,988 6,353 12,262 116 12,378
1,573 3,263 5,748 10,583 462 11,045
45.0% 45.0% 47.5% 46.3% 80.0% 47.2%
1,381 2,864 3,993 8,237 318 8,555
192 399 1,755 2,345 144 2,490
5.5% 5.5% 14.5% 10.3% 25.0% 10.6%
[1] Acquired in Q4'16 with $1.2M bridge loan
[2] Acquired in Q1'17 with $1.2M bridge loan
[3] Acquired in Q2'17 with $10M investment, replacing bridge loan
In thousands
FY'17
26. Pro Forma Financial Performance: 2018
26 2016 Green Endeavors | www.green-endeavors.com
Revenue
Cost of Revenue
Gross Margin
Gross Margin %
Operating Expenses
EBITDA
EBITDA %
[1] Acquired in Q4'16 with $1.2M bridge loan
[2] Acquired in Q1'17 with $1.2M bridge loan
[3] Acquired in Q2'17 with $10M investment, replacing bridge loan
[4] Acquired in Q1'18 with $10M investment
[5] Acquired in Q2'18 with $10M investment
Landis Target 1 [2] Target 2 [3] Target 3 [4] Target 4 [5] Salons Qnity Combined
3,670 7,613 12,705 5,000 5,000 33,988 664 34,652
1,945 4,035 6,670 2,650 2,650 17,950 133 18,083
1,725 3,578 6,035 2,350 2,350 16,038 531 16,569
47.0% 47.0% 47.5% 47.0% 47.0% 47.2% 80.0% 47.8%
1,450 3,007 4,066 1,975 1,975 12,472 332 12,804
275 571 1,969 375 375 3,565 199 3,765
7.5% 7.5% 15.5% 7.5% 7.5% 10.5% 30.0% 10.9%
[1] Acquired in Q4'16 with $1.2M bridge loan
[2] Acquired in Q1'17 with $1.2M bridge loan
[3] Acquired in Q2'17 with $10M investment, replacing bridge loan
[4] Acquired in Q1'18 with $10M investment
[5] Acquired in Q2'18 with $10M investment
In thousands
FY'18
27. Pro Forma Financial Performance: 2019
27 2016 Green Endeavors | www.green-endeavors.com
Revenue
Cost of Revenue
Gross Margin
Gross Margin %
Operating Expenses
EBITDA
EBITDA %
[1] Acquired in Q4'16 with $1.2M bridge loan
[2] Acquired in Q1'17 with $1.2M bridge loan
[3] Acquired in Q2'17 with $10M investment, replacing bridge loan
[4] Acquired in Q1'18 with $10M investment
[5] Acquired in Q2'18 with $10M investment
Landis Target 1 [2] Target 2 [3] Target 3 [5] Target 4 [6] Salons Qnity Combined
3,854 7,993 13,340 5,250 5,250 35,687 797 36,484
2,023 4,196 7,004 2,756 2,756 18,736 159 18,895
1,831 3,797 6,337 2,494 2,494 16,951 638 17,589
47.5% 47.5% 47.5% 47.5% 47.5% 47.5% 80.0% 48.2%
1,445 2,997 4,269 1,969 1,969 12,649 359 13,008
385 799 2,068 525 525 4,302 279 4,581
10.0% 10.0% 15.5% 10.0% 10.0% 12.1% 35.0% 12.6%
[1] Acquired in Q4'16 with $1.2M bridge loan
[2] Acquired in Q1'17 with $1.2M bridge loan
[3] Acquired in Q2'17 with $10M investment, replacing bridge loan
[4] Acquired in Q1'18 with $10M investment
[5] Acquired in Q2'18 with $10M investment
In thousands
FY'19
28. Pro Forma Financial Performance: 2020
28 2016 Green Endeavors | www.green-endeavors.com
Revenue
Cost of Revenue
Gross Margin
Gross Margin %
Operating Expenses
EBITDA
EBITDA %
[1] Acquired in Q4'16 with $1.2M bridge loan
[2] Acquired in Q1'17 with $1.2M bridge loan
[3] Acquired in Q2'17 with $10M investment, replacing bridge loan
[4] Acquired in Q1'18 with $10M investment
[5] Acquired in Q2'18 with $10M investment
Landis Target 1 [2] Target 2 [3] Target 3 [4] Target 4 [5] Salons Qnity Combined
4,046 8,393 14,007 5,513 5,513 37,471 996 38,468
2,124 4,406 7,354 2,894 2,894 19,673 199 19,872
1,922 3,987 6,653 2,618 2,618 17,799 797 18,596
47.5% 47.5% 47.5% 47.5% 47.5% 47.5% 80.0% 48.3%
1,517 3,147 4,482 2,067 2,067 13,281 448 13,730
405 839 2,171 551 551 4,518 349 4,866
10.0% 10.0% 15.5% 10.0% 10.0% 12.1% 35.0% 12.7%
[1] Acquired in Q4'16 with $1.2M bridge loan
[2] Acquired in Q1'17 with $1.2M bridge loan
[3] Acquired in Q2'17 with $10M investment, replacing bridge loan
[4] Acquired in Q1'18 with $10M investment
[5] Acquired in Q2'18 with $10M investment
In thousands
FY'20
29. What’s Different: Our Approach
29 2016 Green Endeavors | www.green-endeavors.com
29 2016 Green Endeavors | www.green-endeavors.com
ü $60B market opportunity, highly-
fragmented
ü Fewer risk factors than most industries
ü Predictable revenue streams
ü Performs well during economic
downturns, growth industry
ü Ideal timing, motivated sellers
ü Five acquisitions, $30M of revenue over
next 18 months; $38M by 2020
ü Target ‘2 to 10’ salons
ü Attractive end-to-end solution, fills large
unmet need
ü Talented team with extensive industry
experience
ü High market cap upside
GRNE Investment Highlights