Tag: funeral business

Business Preneed

How Do You Get More Market Share?

There is not a business around that doesn’t want a bigger piece of the pie when it comes to market share.  Funeral businesses and funeral home owners are no different.  So, what is the secret in building your market share? First, there is no silver bullet on how it is done.  However, just like Major League Baseball being more analytic over subjective in analyzing data, funeral homes that analyze data can get a good indication of how to build that […]

Cremation

South Koreans Preferring Cremation

  The South Korean Ministry of Health and Welfare recently released a report that indicates that since the 1990’s South Koreans have been preferring cremation at a very high percentage.  An article published in the Straits Times that you can read here indicates that over 80% of South Koreans now choose cremation. The article points out that in 1994 the country’s cremation rate stood at 20.5% and last year stood at 82.7%.  According to the article a couple of reasons […]

Finance

Assurant Performance Holds Back Death Care Index

Friday marked the stock market’s first “quadruple witching day” of 2018 so we thought it might be a good time to look at the performance of the death care industry stocks and how they performed in the first 2 1/2 months of the 2018 market.  Funeral Director Daily’s Death Care Index or DCI is a compilation of eight public companies in North America and represents the total stock price if you held one share of each stock – it is […]

Finance

Dignity, PLC Engages Consultant

Dignity, PLC, the United Kingdom’s death care conglomerate announced on March 14 that they would be hiring L.E.K. Consulting to work them them in developing a plan for the funeral business going forward.  This comes following their January 19 announcement that the company would be drastically reducing their funeral service prices to consumers in response to the changing market conditions of the UK death care industry. In the announcement that you can read here, Dignity said that the company did […]

Finance

SCI Presents at Raymond James Investor Conference

  Death care industry company Service Corporation International recently presented at the Raymond James 39th Annual Institutional Investors Conference.  I’ve found a  slide deck about their company on Seeking Alpha that you can see here.  It was part of their power point presentation to institutional investors and is an interesting synopsis of the company as to where they are and where they hope to be headed. One of the interesting slides I noticed showed the market share of services in […]

Finance

StoneMor Shakes up Executive Suites

On Friday StoneMor Partners issued a press release that you can read here.  In it they announced that current CEO Paul Grady would be leaving and would be replaced by Leo Pound, who has been a director of StoneMor since 2014 and was previously their acting Chief Operating Officer.  According to the release, Pound is an experienced executive with a focus on increasing customer and shareholder value. StoneMor also announced in the same release that death care industry executive Jim […]

Business

The Saturday Service Dilemma

  Have you noticed in the last several years the number of Saturday funeral or memorial services that you conduct in comparison to the services that are done the rest of the week.  At least, anecdotally, if you don’t keep statistics, you must feel you are scheduling staff more and more on Saturdays to serve the families that choose that day of the week for the service. I’ve noticed it here – I’ve kept statistics at our 325 call single […]

Regulations

Unclaimed Bodies and Indigent Payments

Alana Durkin Richer of the Associated Press compiled a good article that appeared in the Detroit News that you can read here.  The article is on the growing problem of what to do with indigent bodies when states or municipalities responsible for them are either running out of money or the expected reimbursement to funeral homes is too small for funeral homes to want the task of caring for these people.  The article is entitled, “Unclaimed bodies pile up as […]

Business

Legacy Funeral Group Purchases Alabama Locations

  According to a press release that you can read here, Legacy Funeral Group of Texas has purchased the Magnolia Chapels of Tuscaloosa, Alabama.  Magnolia Chapels has served the Tuscaloosa area with two chapels since its founding in 1999. (The link will lead you to Legacy’s web-site where you can learn more on the company). Legacy Funeral Group is a regional consolidator of funeral homes based in Texas.  They own approximately 110 funeral homes and, according to the press release, […]

Business

Quinn FH merges with Burton FH in Pennsylvania

I read a really nice article the other day on GoErie.com that you can read here about two very longstanding funeral businesses in Erie, Pennsylvania, that have “merged” in order to help both funeral homes operate better. The article is about the Quinn Funeral Home and the Burton Funeral Home, both of Erie, Pennsylvania — as a matter of fact, according to the article they are located only about one block from each other.  Interestingly enough, both funeral homes were […]