Tag: cremation

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 keeps acquisition train rolling along

Only about ten days removed from announcing the acquisition of a funeral home in northeast Minnesota, Foundation Partners Group made another announcement at the end of last week.  The press release goes on to say that Foundation Partners Group, the private equity backed funeral home and cemetery consolidator and operator, has reached an agreement to acquire The Springs Funeral Services of Colorado Springs, Colorado. The announcement goes on to say that with these two new locations, Foundation Partners will now […]

Business

Time for that 2nd location?

Many funeral directors who own funeral homes operate a one roof funeral home.  There’s nothing wrong with that — I operated a one roof funeral home for 20 years and, contrary to many people’s beliefs, there was always much to do and profits to be made.  But, like me, many of those one roof funeral home owners think about expanding at times and wonder how they would do managing a business with more than one roof. What stops a lot […]

Business Preneed

College research shows distinction between preneed and at need funeral purchases

An article entitled “Relational Spending in Funerals:  Caring for others loved and lost” appeared in the March edition of the Journal of Consumer Psychology.  The research for the article was done by assistant marketing Professor Sarah Whitley of the University of Georgia’s Terry College of Business. In this article about the study you can read where Professor Whitley finds a deep contrast in funeral decisions for those who are preplanning a funeral in the future and those who are making […]

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.  […]

Business Finance

InvoCare talks of strategy reset

My own historical family businesses are a perfect example of the evolution of a business to fit the consumer and stay relevant.  Back in 1872 my great-grandfather arrived in the New World with a skill as a cabinet maker.  He set up shop and when people died family members approached him about building a coffin for the deceased.  The cabinet business evolved into two businesses, a furniture store and a full service funeral home.  As time went on, we became […]

Business

The convention conundrum

Funeral directors have always liked conventions.  I have great memories of Minnesota Funeral Directors Association (MFDA) conventions going back to the 1960’s.  My dad always attended for a day and for his family it was an opportunity to get to the big city (Minneapolis) stay at the downtown Radisson Hotel, and probably get to take in a Minnesota Twins afternoon game on Day 2 before heading for home that evening. My father worked a lot. . . taking care of […]

Preneed

Policygenius says “Life insurance prices continue to be stable”

Life insurance rates, at least for the time being, are holding stable regardless of the excess deaths due to Covid-19 in 2020.  A recent press release from Policygenius, that you can access here, says that “The May index shows life insurance pricing stability, despite an increase in the U.S. death rate evident in data recently released by the Center for Disease Control”. Policygenius, in their release state that “the U.S. death rate increased by nearly 16% from 2019 to 2020 […]

Finance

Batesville shows another strong quarter

Batesville, a division of Hillenbrand Industries, reported their Fiscal Year 2nd Quarter during the first week of May.  While the entire company revenue increased 11% year over year, Batesville, the funeral service side of the business, increased their revenue by over 20% to a quarterly volume of $166 million. Here’s what was said in the FY 2Q 2021 report about the Batesville segment of Hillenbrand Industries: “Revenue of $166 million increased 20% year over year driven by an increase in […]