Tag: funeral home business

Preneed

Funeral “services” buck the trend in 2020

I read this article from Yahoo Finance today entitled “The Economic Chart of the Year“.  It is an interesting short read and you will learn something from reading it.  Like I always try to do. . . I tried to reflect on how my actions have contributed to the articles conclusion and also tried to reach some type of idea on how this knowledge might be able to help death care professionals moving forward. The crux of the article deals […]

Business

Building brand awareness, perception, and image

So many times when I’m writing a an article I find something in that article that jogs my mind about another aspect of funeral service, or business, or life in general.  In yesterday’s article I mentioned “Top of Mind Awareness” as something that your business or your brand wants your potential customers to have. I used to think of “Top of Mind Awareness” or TOMA for our funeral home as something that was absolutely vital to grow our business.  So, […]

Business

Funeral Home Budgeting — The revenue side

As we told you yesterday, we are re-running our budgeting articles that received such good response from funeral home operators in November 2019.  Budgeting is, well, budgeting, but there are always new wrinkles to account for. While we have, for our example,  simply delineated our revenue numbers by cremation case or earth burial case, if we learned nothing else in this COVID-19 year, it is that death care cases will become more and more varied over time.  There will be […]

Business

Funeral Home Budgeting. . . the expense side

I’m taking the time today and tomorrow to re-run articles from last November on funeral home budgeting.  I posted these articles last year and had many positive comments and since we have many new readers since then, I figure that maybe my thoughts on budgeting — both the expense side and the revenue side — may be of interest to some. I like numbers, planning, and budgeting.  It was always somewhat of a game to me and I always enjoyed […]

Business Regulations

Will regulations kill small town funeral homes

I started to read this linked article from Fort Wayne Business that you can access here with the thought of including another story on a locally owned small town funeral home investing in their community by building new facilities to serve the people of that community.  The article deals with owners Miles and Tarah Wilson building a new funeral home in Huntertown, Indiana, and the headline of the article states “Huntertown community welcomes Sheets and Childs Funeral Home”. My thought […]

Finance

Can Providence get $1 Billion for funeral group

It was only two years ago that many of us were introduced to a major player in the global private equity industry named Providence Equity Partners.  According to this article which appeared on the American Funeral Association blog in December 2018, Providence had made inquiries into many companies in businesses that I will define as “businesses that support funeral homes in the death care industry”.   They were not like the acquisition consolidators that we all have known about that target […]

Finance

Goetz to leave Carriage Services?

This morning we noticed a news release from Market Exclusive that you can see here pertaining to a K-1 filing from Carriage Services.  The filing informed the public that effective June 26, 2020, President and Chief Operating Officer William W. Goetz had resigned from those positions at Carriage Services as well as had resigned from a seat on the Carriage Services Board of Directors. The filing states in part, “The resignation was not the result of any disagreement Mr. Goetz […]

Business

Goings on in the independent funeral home world

Sometimes I can get going about a subject and give you my opinion before you have even had a chance to read the article and form an opinion on your own.  Like everybody, my experiences that I have lived slant the opinions that I profess. And, while I grew up and operated as a 4th generation funeral director in a family firm that is now in its 147th year, I like to think that I am not favored to the […]

Business Finance Preneed

Inside the numbers with SCI

Last week we brought you an initial report on Service Corporation International’s report of their 1st Quarter 2020 results.  We also promised that we would go “inside the numbers” to see what other financial information we could find that may be of benefit to all of you who own or manage funeral homes. Today, we bring you a little more from inside the numbers and don’t bring you any surprises but the numbers put forth continue to show increased cremation, […]

Business

Annual budgeting. . .bringing in the revenue

Yesterday we started the talk of annual budgeting for a funeral home by looking at what are the expectations for overhead, profit, and a savings plan in that budget.  You can see yesterday’s article here.  Today, we will try to explain how we set the revenue parameters to make sure that we have a great chance to cover that budget — even if we under perform on the number of services we will do. To understand how I set our […]