Change can be good. Owners who sell their companies are not the only ones who reap the rewards; often employees wind up better off as well.
Owners cite many reasons for selling their pest control companies. They may feel it’s finally time to retire, it’s too hard to find workers, they don’t have children who want to take over the company, or they may have health issues that make work difficult.
Whatever the reason, pest management professionals (PMPs) are motivated to sell whether they built their company from the ground up or inherited it from a family member.
To learn more, Pest Management Professional’s (PMP’s) 2022 Merger Guide survey asked readers their thoughts on mergers and acquisitions.
Most would consider making a deal, as 62 percent of those asked agreed that, “Every business is for sale; the only real question is, for how much?” This figure has been growing steadily over the past 10 years, when 56 percent of those asked agreed.
The biggest jump over the past 10 years relates to the question, “Can merging with a larger pest management provider help an acquired business access, and implement, more proven processes and policies?” This year, nearly one-third of those asked answered yes; 10 years ago, only slightly more than half agreed.
In addition, more than half of survey respondents agreed with the question, “Can merging with a larger pest management provider help an acquired business improve career opportunities and employee retention?”
Although PMPs were able to continue providing pest control services during the COVID-19 pandemic, they were not immune to the effect it had on workers. Like most businesses, pest control companies are looking for ways to hire good workers and retain the ones they already have, as employees leave the workforce entirely, or quit to take jobs in other industries.
Indeed, a company merger may be just what it takes to compel some employees to stay put. At a time when workers are switching jobs in droves, it may be just the positive change they need.