February 19, 2018
Published by 
Dan Isard on February 19, 2018
Dan Isard on February 19, 2018February 19, 2018
Published by Dan Isard on February 19, 2018
Dan Isard on February 19, 2018Adjusting your funeral home operating model for maximum continuing business viability. There is a time when every business needs to evaluate its effectiveness from every facet to maintain financial viability and relevance to customers. Operating a funeral home and adjusting a business model can put owners in a quandary because of the hindrances surrounding the physical property. But a quandary does not mean impossible, and a funeral home building does not necessary need to be razed to make changes. Re-engineering your funeral business starts before any construction or wallpaper changes. The first priority to be addressed must be the business of doing business. Before considering any changes, conduct an in-depth market research study to understand the consumers who support your business. How do you do this? Surveys are the best way to find out what your community thinks about your […]
February 14, 2018
Published by Dan Isard on February 14, 2018
Dan Isard on February 14, 2018Dear Dan, I’m getting old, about to turn 62. I have owned my business for 30 years. I’d like to work until age 66 and sell the business at that time. I have a key person who wants to buy my business. The sale could coincide with my birth month, and I would like to take my Social Security at its full value. As my location is rural, I have had trouble attracting staff. My key person has been with me for 20 years – just the two of us doing everything. I told him I would be happy to stay on after the buyout for a modest salary, assuming I am only doing modest labors. I don’t want any surprise to my Social Security retirement benefit due to my continued working status. What advice can you give me? Old […]
February 13, 2018
Published by Dan Isard on February 13, 2018
Dan Isard on February 13, 2018Dear Dan, My cemetery is 60 years old. We have 40 acres of land to develop and about three acres developed for sale. We average 300 sales a year. The issue is, how do we determine what to develop these 40 acres into? Developmentally Delayed in Des Moines Dear Triple D, Your quandary is very easy to resolve. I strongly recommend doing two things: Survey your existing consumers. Hold public meetings. Never in the history of communication has conducting a survey been easier than it is today. Today we can send a survey to families and ask them questions about how they see their relationship with us. You should be surveying your families throughout the year. Ask them how satisfied they were with the process of working with your cemetery. This can include questions such as: Why did you elect […]
January 29, 2018
Published by Dan Isard on January 29, 2018
Dan Isard on January 29, 2018As I began to write this article, my mind conjured up the image of our country’s State of the Union address. The president is announced, and upon entering the House chamber, he shakes the hands of well-wishers. Of course, no matter which party is in power, the opposition is generally less exuberant as the exalted speaker continues toward the podium. Imagine with me the magnitude of the words spoken, and with that scene in your head, I now present you with the State of the Profession address. Fellow funeral professionals, providers, suppliers and supporters, we are living in a unique time of opportunity and challenge to our livelihood. Our noble profession serves families during a most difficult life event, the death of a loved one. Like a hospital, your funeral home does not have the luxury of set hours […]
January 25, 2018
Published by Dan Isard on January 25, 2018
Dan Isard on January 25, 2018Dear Cemetery Impossible, I live in a small town and own the local funeral home. There is one cemetery in town. It is a 40-acre cemetery and down to its last salable acre. The current owners have come to me and asked me to buy it. They are asking for $100,000. That doesn’t seem like much. My banker thinks he can do a loan for me through the SBA. My concern is, what happens when it is fully subscribed, which could be within 10 years? I have been told by the owners they are fully compliant with their perpetual care funding requirements. Right Time To Buy Dear Right Time, I have done articles in the past on the issues involved in value, so I won’t waste the column inches to repeat myself again. But a purchase price of […]
January 11, 2018
Published by Dan Isard on January 11, 2018
Dan Isard on January 11, 2018Dear Dan, I just switched to a new casualty insurance broker. Unfortunately, my carrier doesn’t know the funeral business and I now find myself educating the whole company about it. The good news is the agent is Greek, and they have big funerals that will come my way. The big issue is who do I cover? There are two stockholders and me; do I cover each of us? Also, my broker told me we can cover our 1099 employees. Sometimes, I employ these people as pallbearers. Should we do that also? Compfused in Compton Dear Compfused, Allow me to answer your questions one at a time, but let’s also make sure we start at the beginning with the matter of understanding workers’ compensation insurance. Workers’ comp is form of insurance issued by private insurance companies required for […]
December 28, 2017
December 13, 2017
Published by Dan Isard on December 13, 2017
Dan Isard on December 13, 2017I am fascinated by the continued upsurge in the pet deathcare segment of our profession. Consumers not only have embraced offerings to memorialize their beloved companions, but also have hosted celebrations of life similar to those held for the loss of a human loved one. Pet deathcare providers are expanding their reach in large metro markets and small towns across the United States. Now everyone in America has the opportunity to honor their non-human loved ones. As anyone associated with our profession knows, we are experiencing shifts in consumer behavior that directly impact our businesses. The exodus from burial to cremation as the leading choice of disposition after death has created challenges for providers both economically and from a service perspective. However, keep in mind that one constant will remain: When you lose someone you love, whether human or an animal, […]
December 13, 2017
Published by Dan Isard on December 13, 2017
Dan Isard on December 13, 2017Dear Cemetery Impossible, I have been offered land at a very attractive price and I think it can be converted to a cemetery. The property is already zoned so that a cemetery is an acceptable use. There are two other cemeteries about 10 miles away from this site. I am a long-time reader of this magazine even though I do not currently own or work in a cemetery. I have been around funeral service a long time, working as a casket salesman. A popular country and western music star heard of my plans and told me he will buy a family mausoleum if I do this. Will that bring in more business? I am ready to invest all I have. What am I missing? Wishing on a C&W Star Dear Wishing, First, what you’re missing is all the things […]
December 5, 2017
Published by Dan Isard on December 5, 2017
Dan Isard on December 5, 2017A Cautionary Tale Tax planning is legal. Tax fraud is not. Dear Dan, I’ve read your articles my entire professional career. I’m writing now in hopes that you can help me. I used to think tax planning was easy. If I had a good year, I didn’t open envelopes with payments in them for the last two weeks of the year and paid all of my expenses. Therefore, by December 31, revenue was down and expenses were up. I would then deposit the payments in early January so they’d be next year’s problem. If the following year was good, I stopped opening envelopes the first week of December and paid all bills. When I started this planning process about seven years ago, it seemed like a smart idea. Unfortunately, we’ve grown. Now I don’t open envelopes any time after September! […]