President, Fenn Termite+Pest Control
"PCO Bookkeepers give you a clear picture of where your company is financially."
Fenn Termite + Pest Control
Buena Park, Calif.
“Having those KPIs helps you hone in on the things you should be looking at in your financials on a monthly basis.” —Drew Fenn
‘A Clear Picture’ Helps Fenn Move Toward Goals’
Drew Fenn is the third-generation owner of Fenn Termite + Pest Control, founded in 1950 by his grandfather. He is close to achieving a big goal: getting Fenn Termite + Pest Control on the PCT Top 100 list of largest pest control companies.
In 2021, Drew contracted with PCO Bookkeepers, a firm with more than 300 pest control and lawn care companies across the U.S., to assist him.
Up until that point, he had advanced the company with his knowledge and resources and working with an outside bookkeeper, but it was time for a change.
“Since they have no prior experience in my industry, it was me trying to teach them my business to help me better,” Drew says. “So I was looking for someone with more industry knowledge that could assist me.”
Now, PCO Bookkeepers handles the bookkeeping and accounts payable for Fenn, and the relationship is already progressing Fenn further. The monthly financials and benchmarking reports provided helped Drew make more strategic moves.
“PCO provides monthly reports showing profitability and KPIs specific to my business,” Drew says. “The reports help me spot the key indicators that will help me make changes to increase revenue and further my profitability.”
For example, at the suggestion of PCO Bookkeepers Managing Member Brian Post, Drew opted to divide the company into pest and termite divisions for financial reporting purposes.
“Initially he made the recommendation to split into departments so we could look at the profitability of each one,” Drew says. “It was kind of glaring — there was a vast difference in profitability. Together, going through our monthly reviews, we talked about why that’s the case and we dug into it and focused on that so overall profitability could go up.”
Another change Brian suggested was to move toward quarterly service billed monthly. Previously, Fenn sold quarterlies, monthlies, and bimonthlies.
“He recommended we push all of those to quarterly because it’s more profitable — you’re only doing four trips instead of 12 while your revenue stays the same or better,” Drew says. “We made that change and it’s been good for us.”
Working with a partner who handles bookkeeping and accounts payable digitally, and completes financials by the fifteenth of the following month, is another convenient feature, he says.
“I highly recommend using PCO Bookkeepers,” Drew says. “They give you a clear picture of where your company is financially and where you are compared to other people within the industry.”