After the sale he immediately launched EcoFirst with locations in California, Oregon, Washington and Colorado. The first was in 2008, when he sold his Moxie branches, which were generating $10 million a year in revenue and employed 100 workers, to Terminix for an estimated $13 million. Each sale has been bigger than the last, and they have yielded an estimated total of $178 million. Now 39, with the physique and graying temples of a recently retired quarterback, Royce remembers thinking, "I hope this is gonna work." It worked so well that he has kept doing it, launching and flipping three pest-control businesses in the past 11 years. In 2005 Royce put $600,000-his life savings plus a matching sum from Walton-into his own company, licensing the name Moxie and opening branches in San Diego and Los Angeles. Royce was convinced: "I said, 'Hey, that's a great idea-to be able to build a business and have a guaranteed exit strategy.' " "You should start your own company." Not long after that talk, Walton sold Moxie to industry giant Terminix for $11 million. "Don't go pulling 80-and 100-hour weeks in investment banking," Royce remembers Walton saying. So good that owner Jason Walton urged him to drop his plans to go to business school.
So good that, while still in college, he'd written Moxie's sales training manual and been named a vice president of the company. Royce had learned the art of persuading strangers as a Mormon missionary going door-to-door in Panama, and he was good at it. In 2004 Brigham Young University student David Royce was working his third summer as a salesman and recruiter for Moxie, a Texas pest-control company.
David Royce has made a killing building up and selling off pest control companies.
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