By: Mike MigaBusiness and Society Nichols College Section 110-01
I interviewed James Gibbons ◦ Co-owner of F&W Pest Control ◦ Owns with his brothers Mark and Tom My dad also works for this company so this was how I was able to meet with them
Sub Chapter S Corporation ◦ Chosen for tax purposes ◦ Allows profits to flow to their income which limits double taxation They service in general pest control, trapping, exclusion, termite control, etc. The company has been around since 1943
Founded by Edward Honan as Framingham Pest Control ◦ Transferred to Tom Gibbons Sr. then merged with Walpole Pest Control owned by Tom Gibbons Jr. in 1984 Purchased by Tom, Mark, and James Gibbons in 1998 ◦ Financed through their father with a 10 year buyout Owner training was on the job ◦ Running routes, to termite control, to sale, then to management Compared to when it started, the company has changed a lot ◦ Treatment techniques improved and the use of technology made more efficient work
Adding new employees and growing into bigger offices Biggest reward is being able to run the business in their goals and visions and call the shots Critical success factors include keeping up with rules and regulations as well as… ◦ Tax ramifications ◦ Employee regulations ◦ Maintaining accounts, customer retention and loyalty
These critical success factors are also seen as challenges too Most challenging part of running their own business is… ◦ Worries about what could go wrong ◦ Being ready for whatever type of financial hit the business could take They overcome this by being informed and hiring good accountants, tax preparers, and human resource people Fatal flaw are keeping dates on new rules and regulations and regular monthly type commercial services
Terminix and Orkin Try to maintain competitive advantage by giving exceptional service to customers ◦ Are a smaller company so they can know customers on a level larger companies can’t Try to keep customer satisfied and customer loyalty by… ◦ Listening to the customers needs ◦ Adapting to what the customers expectations are
Strategies used… ◦ Company website- people can view their account and have live customer support ◦ Television ads ◦ Minimal Yellow Pages ads ◦ Sponsors of local town sports teams When hiring someone the company looks for… ◦ Education ◦ Critical thinking skills ◦ Good communication oral/written ◦ Adaptability
Are planning on staying in the company until it is time for retirement Major goal for the future is to expand the company further than it already is and by doing so hire more employees
Q: Why pest control? A: There will always be insects and there will always be a need to get rid of them and it creates jobs Q: Was this your choice for a career? A: It was, I had always planned on following my father into owning my own business. Now I get to own it with my brothers which is great.
Q: How do you feel about the decals on the work trucks? To me, since my dad works for you guys, I feel they are a little ridiculous. A: Well, yes they are a little goofy, but it is a very helpful advertising tool and it lets other people see our business which in turn will hopefully generate business.
Some advise he gave to the class was… ◦ Good verbal communication skills ◦ Assume responsibility ◦ Ability to reason ◦ Formulate and identify problems ◦ Ability to function independently From doing this interview, I learned that owning your own business can be very rewarding but also has many consequences to it if something goes wrong