Tag: cremation business

Finance Preneed

SCI sees 2Q 2021 Revenue per Service jump over $600 per case

Earlier this week the largest funeral home and cemetery operator in North America, Service Corporation International (SCI), revealed their results for the 2nd Quarter of 2021.  It was a much anticipated report as it would mark a comparison with the 2nd Quarter of 2020 when the Covid-19 pandemic was flourishing and funeral homes and cemeteries were operating in a much more difficult and different world. As you might expect SCI’s “comparable funeral services performed” dropped 6.0% to 84,449 cases as […]

Business

Hospice provider to give “assistance with funeral arrangements”

I’ve been on this bandwagon a long time and I can see it coming down the road.  The bandwagon I’m talking about is “hospice providers becoming part of the death care profession”. In this article from Hospice News you can read about hospice provider Compassus beginning a pilot progam to, among other things, “assist with funeral arrangements”.  Compassus, who have 200 locations in 30 states recently announced that it is partnering with technology platform Empathy to “help the families of […]

Business Regulations

The regulatory environment for 2021

It’s not all that common but it does happen in the death care profession from time to time.  The “it” I’m talking about is regulatory infractions that can cause a funeral home or other other death care business, such as a crematory, to be shut down for some period of time. When it does happen in the profession, it is rare enough and because it comes from an industry with very high reputatational marks in providing service to families, it […]

Afternoon Edition

Spotting trends. . . and wondering will they affect funeral service?

Editor’s Note:  I apologize for the tardiness of this article today.  This post was scheduled to go out as usual at 4 am Eastern Time, but for some reason, technology failed us.  Enjoy some thoughts to think about as we move into the weekend. My first trip to Europe in 1991 reminds me that I’m wrong lots of times with my instincts.  I chuckle when I think of it now, but at one of my first dinners in Germany I […]

Finance

Death Care Index rises 14.7% year to date

As we move into the seventh month of the calendar year, we felt that it was a good time for a check up on the Funeral Director Daily Death Care Index (DCI).  The DCI is a composite dollar amount of owning one share of stock in each of the seven public companies in the United States that have at least part of their business in the death care industry. As we said in our last check in with the DCI, […]

Finance

Foundation Partners adds to growing Colorado number of facilities

Earlier this week Foundation Partners Group (FPG) announced that they have increased their location count to 12 in the state of Colorado by purchasing the entities affiliated with Seitz Funeral Services.  In the press release which you can read here, Foundation Partners Group announced that the Seitz Funeral Services group includes Adamson Life Celebration Home, Northern Colorado Crematory, Viegut Funeral Home, and Best Friends Pet Crematory. John Seitz has served as a funeral service professional for 20 years and in […]

Business

Prime Day ended yesterday. What can we learn from Amazon

Amazon’s Prime Day concluded Tuesday in what was the 7th annual event for the company.  My understanding is that Prime Day was dreamed up as a 20th Anniversary celebration of the company in 2015.  2020 sales for the company in what is actually a two-day event (Monday/Tuesday) were reported as $10.4 billion and estimates are that this year’s sales may top $12 billion. Just to see what I could find for sale that may compete with the death care profession, […]

Cremation Finance

Solace cremation company raises $1.745 million in seed funding

“One flat price. $895. No Surprises.” That’s how direct cremation provider Solace describes themselves on their web-site.  And now, according to this article in Geekwire,  they have some cash behind them to spread that narrative about their company. Geekwire mentioned earlier this month that Solace has closed an oversubscribed funding round of $1.745 million with Portland, Oregon, based Rogue Venture Partners as lead and participation by Cascade Seed Fund of Bend, Oregon, and Alliance of Angels of Seattle, Washington. The […]

Finance

Foundation Partners Group adds to Minnesota locations

It was announced last week in this press release that Orlando, Florida based Foundation Partners Group has acquired the Atkins-Northland Funeral Home & Cremation Service located in Cloquet, Minnesota.  According to the press release, this addition brings the Foundation Partner Group count in Minnesota to six locations. Again, according to the release, the acquired funeral home began in 1936 as the Northland Cooperative Burial Association and operated as an association until taken private in 2009 by Bob and Karen Atkins.  […]

Finance

StoneMor CEO Joe Redling: “We’re targeting. . acquisitions of both cemeteries and funeral homes in our existing markets”

StoneMor, Inc. released its 1st Quarter financial results on May 13 and with it announced that they had completed their private offering of $400 million in Senior Notes.  There seems to be no doubt that the refinancing and operational results reported in the May 13 report have lifted the spirits of the company. Here’s what CEO Joe Redling said in the 1Q 2021 report, “Earlier this week, we completed a transformational transaction for the Company by fortifying our balance sheet […]