Episode 109

1/5/2023

Topic: Q4 Recap & New Year Predictions

Guests: Dan Gordon, PCO Bookkeepers & M&A Specialists, and Donnie Shelton, Triangle Home Services

Sponsor: Coalmarch by Workwave

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In this episode we discuss:

• Podcast changes for the new year

• How inflation has slowed but is still a factor

• How the housing market and credit situation affects pest control

• Whether we are entering a recession and what opportunities it may present

• Why it's important to be proactive with your customers

• Record retention for Paycheck Protection Program forgiveness

• Employee Retention Credit reminders about amending your tax returns

• How to prepare for a recession, including not borrowing, keeping an eye on "infant offices" and ensuring gross margin is 50-55 percent

Resources mentioned:

• Trading Economics article about inflation

• PMP Industry Insiders Episode 105 with Cindy Mannes: Inside the Mind of a Pest Control Purchaser

• CNBC article about payroll and wages

• PCO Bookkeepers & M&A Specialists Pest Control Industry Cost Study

• Wall Street Journal article on the "richcession"

• PMP Industry Insiders Episode 83 with Tony Massey: How to Develop a Culture of Execution

• PCO Bookkeepers & M&A Specialists/William Blair Pest Index

Advice: "Pull your P&L for 2022. Look at your projections for 2023, and if you're out of whack, find a way to get (your margins) back." —Donnie Shelton

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