September 23, 2023
Published by 
Foresight on September 23, 2023
Foresight on September 23, 2023Succession planning is an essential process that ensures the seamless transition of leadership and ownership within a business, from one generation to the next or even to new proprietors. In the traditional world of the funeral profession, where family ownership has long been the norm, passing down the business to the next generation was often seen as an inevitable path. However, the landscape is shifting. Sustaining and growing multigenerational funeral homes has become increasingly challenging. In this blog post, we will delve into the intricacies of succession planning in the funeral profession, using insights from the 2023 NFDA Member Succession Planning Study as our guide. We will explore the evolving challenges faced by funeral professionals, delve into the critical elements of succession planning, and emphasize the necessity of early preparations and expert guidance. The Changing Landscape of Succession in Funeral […]
August 16, 2023
Published by Foresight on August 16, 2023
Foresight on August 16, 2023In the ever-evolving digital landscape, funeral homes and cemeteries face new challenges and opportunities in connecting with their communities. In this blog, we will delve into how to improve the foundations of your digital presence for your funeral home or cemetery . Local Search Ranking Performance: For funeral homes and cemeteries, local search ranking determines how easily potential clients can find them when searching for funeral/cemetery services, arrangements, or other relevant information. Google, as well as other prominent search engines, use the IP address of the user’s device to determine their approximate location. This helps Google understand which area the user is searching from. High local search ranking ensures that the funeral home’s website and information appear at the top of search results, increasing its visibility and chances of being chosen by those in need. Search Engine Optimization […]
July 19, 2023
Published by Foresight on July 19, 2023
Foresight on July 19, 2023The landscape of SBA loans has undergone significant changes, bringing about exciting opportunities for the funeral home and cemetery profession. Equity injection requirements have been revamped, simplifying procedures and guidelines, and allowing for the 10% equity requirement to be totally met with a seller carry. The SBA has also reduced red tape and clarified affiliation standards, providing fair access to capital. Furthermore, the personal resource test has been eliminated, and lending criteria for creditworthiness have been streamlined. In this blog, we will explore how these changes impact funeral home and cemetery owners, highlighting the benefits and opportunities they bring. Rules have changed around equity injection Equity injection is new cash or other acceptable assets added to the project that is not on the borrower’s balance sheet prior to the equity injection. The most important element of this (especially for 1st […]
June 20, 2023
Published by Foresight on June 20, 2023
Foresight on June 20, 20232023 Funeral and Cemetery Consumer Behavior Study Insights Summary DOWNLOAD NOW In response to the transformative impact of COVID-19, The Foresight Companies conducted our annual consumer behavior study to uncover key trends shaping the funeral and cemetery profession in the short and long term. As these trends become permanent, we are dedicated to helping you embrace and implement the necessary changes for future business success. Discover the actionable insights from our 2023 Funeral & Cemetery Consumer Behavior Study by downloading our Insights Summary. Gain valuable knowledge on evolving consumer attitudes towards the funeral and cemetery market and learn how operators can adapt to meet their changing needs. Adapt and thrive in the future of funeral service by meeting the evolving demands of today’s consumers.
May 29, 2023
Published by Foresight on May 29, 2023
Foresight on May 29, 2023The Foresight Companies and Pellerin Funeral Homes A Special Feature Written by Alice Adams The following is a case study about funeral home owners who partnered with The Foresight Companies’ consultants to optimize their position in the marketplace. Through this relationship, the family-owned funeral home maximized its value, streamlined operations and, ultimately, sold at the right time, to the right buyer for the right price. In the beginning, Ray Pellerin, a second-generation funeral director, stepped into the leadership role of his family’s funeral home – in the heart of Cajun Country – in 1962, not quite 10 years after his father, Harris J. Pellerin, the Pellerin Funeral Home’s founder, was diagnosed with Parkinson’s disease. Ray was still in his 20s. Harris, always a progressive visionary in the profession, established Pellerin’s as an undertaking company in Breaux Bridge, Louisiana, in 1921. […]