Whether retiring or resetting, it may be time to make your move.
Pest Management Professional‘s exclusive survey reveals mergers and acquisitions lead to overwhelmingly favorable changes for all.
Pest control company owners who do not have family members or trusted employees to take over their businesses must one day make a decision: To whom will I sell my company?
Owners work hard to build their companies, which may have been in their families for generations. The deal they make with a buyer must reflect the success they achieved over the years. But money isn’t all that matters to most owners. Even if they no longer will be involved in the business, it’s important that their employees are taken care of, too.
A merger or acquisition can be beneficial to employees, according to readers who took Pest Management Professional’s (PMP’s) 2021 Merger Guide survey.
When asked “Can merging with a larger pest management provider help an acquired business improve career opportunities and employee retention?” the majority of respondents said yes. This is an intriguing question, as the coronavirus pandemic has made hiring and retaining employees a challenge for many pest control company owners. Of course, pest control isn’t the only industry with workers finding better opportunities with other companies or taking the leap to make a career change, but a change in ownership may be just what some employees need to stay. In addition, in many cases, the owners actually stay on in a consulting or managerial role — so they can focus on the industry they love, just without the headaches that can come with business ownership.
Even if you believe you’ll never sell your business, it doesn’t hurt to explore your options. You may be surprised at the possibilities that emerge from a merger or acquisition. After all, more than two-thirds of survey respondents agree with the statement “Every business is for sale; the only real question is, for how much?”