Pest Control Podcast - The Arthropodcast Show

Pest Control Shouldn't Be This Funny

#5 Bed Bug Growth Slows – The 2014 Market Report

April 12, 2015 by Steve Jackson
Play

Corporate-4-300x300So I was checking out PCT’s article on the 2014 pest control market report. Specialty Products Consultants has compiled the research for about 15 years now, and it’s always interesting to see the changes from year to year. What we found this year was that the industry grew to nearly $7.5 billion dollars which was an increase of about 3.5 percent over the 2013 numbers.

About 8.75 million households were serviced by licensed pest control companies, and that’s about 7.1% of the total US households. We have about 123 million households, 8.75 million of which had pest control services performed.
If you consider another 3.75 million customers that purchased post construction termite control, you come up with about 12.5 million households that were serviced in 2014. That’s slightly over 10%
7.1% for pest control, another 3% for termite.

Now when you look at our target market, which are families that earn over $75,000 annually, we have about 36.3% of the households in that demographic. That’s actually a pretty good number, it’s over a third. Obviously, we can do much better. There’s about another 64% still out there, but overall, that’s a good percentage.

Other notable findings, the average post construction termite job increased by $25, it’s now at $861 on a national average. In 2013 that number was $836.

Something that wasn’t highlighted in the article, but something we should pay very close attention to was that bedbugs were only up 5.6% in revenue growth. Which is still an increase, it helped the industry as a whole, but it wasn’t the driving force behind the industry growth. If you do the math, bed bug revenue growth only equated to about $25-30 million. The total industry grew by $250 million. So bed bugs helped the industry grow, but that wasn’t anywhere near the primary reason we saw such healthy increases.

Now, If you dig further you’ll find that bed bug growth has slowed down for the last few years 2012 (+28.2%), 2013 (+11%), 2014 (5.6%).

There was a total of 725,000 treatments performed in 2014, which accounted for $470 million in revenue for bed bug control.

So what’s going on? Are the treatment prices going down? Are we becoming more efficient in our treatment methods, and passing that savings on to the customer? Essentially doing more treatments, but for less money per job?

That doesn’t seem to be the case.  In 2012, the average price of a bed bug treatment was $600, in 2014 the average price was $630.
So it’s actually increased $30 in two years.

Anyway, fascinating research if you really dig into the numbers and compare it to the same study from the last few years.

But now I want to hear from you. What’s your take on this? Why are the bed bug numbers shrinking? Are things slowing down in your area?
Let me know, hit me up on Twitter @stevejacksonus that’s @stevejacksonus. Take care Y’all.

Source: http://www.pctonline.com/SPC-2014-pest-control-market-report.aspx

If you like this post, please share it along:

This Month’s Posts

EP 125

Bryan and Scott talk to the great Daniel D. Dye II about the fun he is having since he retired.

Ep 124

Bryan and Scott talk about the importance of Woman in the Pest Industry and Scott loses his man card again…..

Ep123

Bryan and Scott take a trip down memory lane.  Bryan speaks on the loss of Tom Nay

WTPC Fun

Bryan and Jerry catch up on another fun episode.

Previous Post


#4 A New Roach Cleanout Technique?

Next Post


#6 Three Freebies That Made Me A Better PCO

Related Posts

  • Exciting Changes to the Show Format (April Fool’s Episode)
  • #38 Nibor D, Chagas, and the Debut of Our New Game Show
  • #36 The Cockroach Combat Manual and GorillaDesk vs PestPac
  • WW7 – Creating a Successful DIY Pay-Per-Click Campaign

Business Essentials

Paul Giannamore – Mergers and Acquisitions

The Door to Door Millionaire – Lenny Gray

Hire and Retain Good People – Brad Bartlett

The Science of People – Vanessa Van Edwards

Inbound Marketing with Andrew Larson

Pest Control Marketing with Hal Coleman

#73 Tips from Daniel S Gordon, CPA

Recent Posts

Ep126

Ep#122

Ep#121

Ep#120

Ep#119

Ep#117

Ep#116

Donnie Shelton of Coalmarch Productions

Latest Tweets

RT @Coalmarch Need a dose of #mondaymotivation? On the latest episode of @arthropodcasts, Donnie Shelton talks teambuilding, why technician-owners often fail, and why he's all about systems. --> bit.ly/2EYNEST pic.twitter.com/lhuG…

About 4 years ago from Arthropodcast Show's Twitter via Twitter for iPhone

@stevejacksonus @JodyBugsMeUNL I see why they call it traumatic

About 4 years ago from Arthropodcast Show's Twitter via Twitter for iPhone

#WebsterWednesday and #SEO arthropodcast.com/ww…

About 4 years ago from Arthropodcast Show's Twitter via Twitter for iPhone

RT @LMDiepenbrock @DrImmySmith YESSSS!!!!!!!!!!!!!!!!! @JodyBugsMeUNL +@JLarson_UNL on @arthropodcasts = hilarity.. don't try to operate gym equipment while listening.. I may be speaking from personal experience ;)

About 5 years ago from Arthropodcast Show's Twitter via Twitter for iPhone

RT @Coalmarch Did you miss hearing Maria at GIE? You're in luck! Check her out on episode WW22 of the @arthropodcasts ! ow.ly/Y9R630g662p pic.twitter.com/gyt0…

About 5 years ago from Arthropodcast Show's Twitter via Twitter for iPhone

Follow @arthropodcasts

Facebook

View on Facebook

Unable to display Facebook posts.
Show error

Error: Error validating application. Application has been deleted.
Type: OAuthException
Code: 190
Please refer to our Error Message Reference.

Recent Posts

  • Ep126
  • EP 125
  • Ep 124
  • Ep123
  • WTPC Fun
  • Ep#122
  • Ep#121
  • Ep#120