Tag: funeral home business

Business

What’s your leadership style? Does it work in this century?

Ray Dalio is the founder and co-chief investment officer of Bridgewater, the largest hedge fund in the world. He’s one of the 100 richest people on Earth.  Here’s what he says of leaders:  “Most people at the top of their profession made it there because they must be very smart and very capable. Of course, that enters into it. But it’s really how they deal with what they don’t know.” I read a couple of articles that dealt with leadership last […]

Finance

Learning more of Matthews International

Over last weekend while doing some research I stumbled across this article on Matthews International.  As you may know Matthews is the parent company of Aurora Caskets and Matthews Cremation.  What you maybe don’t know is that they are a world-wide conglomerate who is making a big bet on the electric car market with a dry cell battery division (Saueressig) that counts Tesla as its number one customer and, according to the article, is set to grow with other electric […]

Business

There’s value in that signage

For a long-time I’ve been a believer in TOMA — “Top of Mind Awareness” for funeral home brand building which can lead to market share building.  “Top of Mind Awareness” is defined as one measure of how well a business brand ranks in the minds of the consumer. And, I’ve always felt that TOMA was important in our profession because so many times it is around the casual talk that one will inquire to a neighbor or friend “what funeral […]

Finance

Carriage Services reports 2021 Year End, CEO Payne states “Succession Plan Format”

I think it is fair to say that Melvin Payne, CEO and founder of Carriage Services is an unusual leader — but, it is also probably fair to say that Payne’s style of leadership has been effective since the inception of Carriage Services in 1991. In last week’s published 2021 4th Quarter and Year End report to Shareholders Payne makes this comment, “After co-founding Carriage at 48 years young on June 1, 1991, the company has finally evolved after more than […]

Business Preneed

Minefields up ahead??

Just yesterday Funeral Director Daily brought you an article that showed, through the reports of public companies, that consumer based funeral homes and cemeteries seem to be doing really well financially over the past two years of the Covid-19 pandemic.  For the most part, and their are exceptions, the 12-15% increase in American deaths has seemed to trickle down to better bottom lines of funeral homes and cemeteries. I also want to point out that has not been done without […]

Business Regulations

National report: U.S. death rate to be elevated until 2023

The United States released its annual report by the Trustees of the Social Security and Medicare Programs earlier this week.  In that report, which you can see a summarized article here, we get an idea of what the federal government thinks about death rates going forward. The report concludes, as to the national death rate, “The federal government expects U.S. mortality rates to be elevated by 15% over pre-pandemic norms in 2021 and not return to normal until 2023.”  The […]

Business

Welton Hong: “Putting your Marketing Money into the Community”

Editor’s Note:  Today we bring you some information on marketing your funeral business in your own community.  This article is written by funeral industry marketing expert, Welton Hong.  Let’s look at local marketing opportunities that generate community goodwill while also getting your funeral home’s name out there. Here are some ideas to consider:  Sponsor a Local Sports Team Recreational sports leagues and youth travel teams have many expenses, including costs for uniforms, equipment, and maintenance for fields. They often turn […]

Business

We saw a lot of deaths in 2020

An article in the Minneapolis Star Tribune which you can access here was headlined, “U.S. overdose deaths hit a record 93,000 in pandemic last year”.  The article went on to say that the calendar year 2020 saw a record number of deaths due to drug overdoses in the year. . . an increase of 29% over the calendar year total of about 72,000 in 2019. Combining that number with the number of deaths due to Covid-19 prompted me to search […]

Cremation Finance Products

Death care start-ups Recompose and Pure Cremation keep moving forward

New ideas come to the forefront in all industries from time to time.  Some never get going, some ideas stagnate, but it is really exciting when you see some ideas and concepts catch a tailwind and continue to move forward. In the last couple of weeks we have seen news from two death care start-ups, Seattle’s Recompose and Great Britain’s Pure Cremation, that make us believe that their masts are billowing with some wind behind the sails. Recompose, the original […]

Business

Watch your costs to hold onto profits

When I last wrote an article pertaining to inflation one of Funeral Director Daily’s readers contacted me to tell me that his studies indicated that funeral pricing increases did not always correspond with inflationary rates or the rise of the Consumer Price Index.  Sometimes funeral pricing was higher and sometimes it was lower than the CPI.  This gentleman is a pretty smart guy so I’m guessing he was correct with his study. However, in a time of inflation many of […]