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Every pest control company will change ownership at some point. No one lives forever, after all. Perhaps a family member or a trusted employee will take the reins. Or maybe another pest control company will buy it.
No matter how it happens, there will come a time when every owner of a pest control company must decide what’s best for them, their employees and their customers.
Selling to another pest control company certainly has its benefits. An established company already knows how to market pest control services; is familiar with pest control solutions, equipment and services; and has protocols in place for employee advancement.
When Pest Management Professional (PMP) surveyed readers this year to get their take on the question “Every business is for sale; the only real question is, for how much?” 67 percent of those asked found the statement to be true. When asked 10 years ago, 75 percent agreed.
You don’t have to be the owner of a pest control company to experience the impact of a merger or acquisition. Pest management professionals and customer service representatives feel the effects the moment the deal is announced.
That’s why it is crucial that company owners opting to sell their businesses ask buyers pertinent questions and gain a solid understanding of what’s in store for employees and customers after the deal closes.
An in-person visit to the buyer’s company may reveal plenty about employee satisfaction, company culture and advancement opportunities. Buyers who truly care about their employees, particularly if they consider them “like family,” will want to see for themselves what may be in store for those who stay with the company.
That includes the seller, as well. Many company owners are willing to sell but not yet ready to retire. If that’s their plan, how long will the buyer expect them to stay? What new role will they take on? Can they continue their company’s community service initiatives?
While every pest control owner may have a price, money is just one of many factors to consider when it’s time to sell.
