Nicole Vullo
on
Written by Luke Potter
The global nature of today’s economy means that tariffs, or taxes imposed on imported goods, can have far-reaching implications—including within the funeral profession.
While many funeral homes may not feel the immediate impact of tariffs, it is essential to remain vigilant and prepared for potential ripple effects on business operations and the merchandise clients depend on. Staying informed and proactive can help professionals navigate these challenges while maintaining the quality-of-service families expect.
How Tariffs Impact Merchandise
One of the most direct effects of tariffs lies in the cost of funeral merchandise. Many caskets sold in the U.S., for example, are manufactured in countries such as China, Mexico, and Canada. If tariffs are imposed on these imports, the increased costs could trickle down to funeral homes and their clients. For instance, a 25% tariff on a $1,000 imported casket adds $250 to the cost, which businesses must either absorb or pass along. Additionally, tariffs on raw materials like steel and copper could lead to higher production costs for manufacturers, ultimately affecting the price of both metal and wood caskets.
Other items, such as urns, embalming tools, and cremation equipment, may also be affected if they are imported or rely on tariffed raw materials. These changes highlight the importance of monitoring supply chain costs and understanding your options with suppliers to mitigate any sudden price spikes.
Operational and Profession-Wide Effects
The influence of tariffs extends beyond merchandise. Building materials for renovations, such as steel, lumber, and concrete, may see cost increases if tariffs are imposed on imports. This can impact funeral homes planning expansions or upgrades to their facilities. Similarly, tariffs on imported fuel or shipping materials could increase transportation costs, affecting international services such as repatriation of remains.
Tariffs may also create challenges for funeral homes relying on advanced equipment or technology sourced from overseas. Cremation machines, refrigeration units, and software systems could all see price adjustments if their components are subject to tariffs. Strategic planning is of utmost importance, ensuring funeral homes can maintain operations and invest in necessary upgrades without unnecessary financial strain.
Looking Ahead
While the precise impact of tariffs remains uncertain, the key takeaway for funeral professionals is to stay informed and prepared. By keeping a close eye on economic developments, reevaluating suppliers, and managing inventory effectively, funeral homes can adapt to changing circumstances. It’s also a good time to review pricing strategies and consider whether adjustments might be necessary to maintain profitability while keeping services accessible for families.
Ultimately, by remaining proactive and flexible, the funeral profession can navigate these uncertain waters without losing sight of its mission: to provide compassionate, high-quality care to the families it serves.