September 17, 2018
Published by 
Dan Isard on September 17, 2018
Dan Isard on September 17, 2018Believe it or not, there are few things I like more than looking at a survey! It’s one of geekdom’s greatest moments. The 2018 NFDA Consumer Awareness and Preferences Survey gives a million dollars’ worth of data and thought-provoking issues at no cost to members. In reviewing this year’s results, I see three key takeaways that should cause all business owners to alter their business model. This report is unique from most polling that takes place for the following two reasons: This study is ongoing; you not only get the impressions of the respondents for the current year, you’re also reminded of previous years’ replies. The commitment NFDA has made is substantial in continuing this analysis (the first versions of the survey were underwritten by FAMIC’s Wirthlin Survey). This isn’t just a survey; it’s an awareness and preferences study. There […]
August 15, 2018
Published by Dan Isard on August 15, 2018
Dan Isard on August 15, 2018Selling your business to a key person is one option. A look at the preparation involved. Dear Dan, I have three children. Unfortunately, all of them have pursued careers other than funeral service. I tried everything to bring them into the business – they went out on removals when they were teenagers and were exposed to the prep room; I offered to pay for their education and even offered a Corvette Stingray to any who went to mortuary school! Nothing worked. (I can tell you… I remember when my father got me my 1967 cherry-red Corvette. I was the hit of the incoming class at CCMS). Now I am getting ready to retire. I have a great key person working in the business who has expressed interest in service to families and the business side as well. Unfortunately, she is […]
August 15, 2018
Published by Dan Isard on August 15, 2018
Dan Isard on August 15, 2018I think we can all agree that from shifting consumer preferences to declining revenue per call, the funeral profession is facing challenges. Shifting consumer preferences are largely driven by the decline of religious folk and the increase of the “nones” (people that claim no religious affiliation). The culprit responsible for the decline in revenue is funeral home owners and managers’ inability to price services properly, not the “rise in cremation” we are so quick to blame. Funeral homes that serve exclusively along racial, religious or cultural lines have all the before mentioned challenges, plus some different challenges. Often, in large populated areas, we see funeral homes exclusively serving narrow segments of the community. For example, Jewish, African-American, Irish Catholic, Italian Catholic, Hispanic, Asian, and Orthodox Greek funeral homes serve narrow vertical markets. As you can see, even though some of […]
August 15, 2018
Published by Dan Isard on August 15, 2018
Dan Isard on August 15, 2018A cemetery is a different kind of business, so it’s not surprising that when it comes to getting their projects financed, cemeterians need to understand that and find the right sort of banker. Dear CI, I went to my bank to borrow money to build a new mausoleum. They turned me down. They said, “they could not perfect a collateral arrangement on the mausoleum.” I have built three previous mausoleums and they financed them all. Why has their position changed? Sincerely, Need to Borrow in Boston Dear NBB, I think your bank got smarter of late. Allow me to explain in detail. There are two types of lending relationships consumers and their banks might have. Most banks are asset-based lenders. This means you give them an item of collateral and they will generally loan you some percentage of […]
July 25, 2018
