Episode 221
- Marisa Palmieri Shugrue
- 7 minutes ago
- 2 min read
4/8/25
Topic: Tariff-Proof Your Pest Business: What To Do Right Now
Guests: Dan Gordon & Donnie Shelton
In this episode we discuss:
The sweeping tariffs announced by the Trump Administration on 4/2/25
The list of reciprocal tariffs by country
How the U.S. has a trade deficit with many countries
How tariffs work and the concept of reciprocity
Whether the tariffs are the beginning of a trade war
Potential impacts on the industry, including operating costs, capital expenditures and demand
How tariffs may affect the costs of chemical products (pest and lawn) and fertilizers (lawn)
Why the potential for inflation and its effect on labor rates is a concern
The "wealth effect" and how it impacts consumer confidence
Whether door-to-door pest companies will see customer attrition
Several potential outcomes of the tariffs
Steps to take:
Remember cash is king: Collect your accounts receivable, preserve credit lines and communicate with your bank.
Take care of vendors: Pay them on time. They'll remember it when things turn around.
Deliver customer value: Shore up any customer service issues and get in front of cancel rates.
Consider stocking up: Contact vendors to see if you can buy products now at pre-tariff prices.
Protect your A players: Take care of great employees; how you treat them in tough times builds loyalty.
Embrace technology: Figure out how to gain efficiencies and innovate to absorb costs and weather the storm.
Notable: "Any time you have a jolt...cash is king, so make sure you collect your accounts receivable, preserve any credit lines and make sure you're in touch with your bank." —Dan Gordon
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