Nicole Vullo

November 21, 2022

Ask the Experts: Your questions about casket pricing answered by Foresight

Pricing is always a hot topic. When it comes to vendors setting pricing for items such as caskets, do you have to accept their price structure, or can you make changes as you see fit? Gabe Ngo provides his insights on this important topic. Question:  Do I have to accept the prices the casket vendor set? Gabe Ngo:  The short answer is no, you do not have to accept the casket vendor’s pricing they set.  There are so very many angles in answering this question, but I will keep it grounded and simple.  Often times historically, owner-operators have not always made pricing changes to reflect the “October 1st” pricing changes that have typically come from Batesville or Matthews annually.  However, over the past fifteen to eighteen months or so, funeral home owner-operators have seen a variety of “temporary surcharges” (which […]
November 21, 2022

Ask the Analyst: Property and Real Estate Value vs. Business Value

Have you ever wondered what to do if your property/real estate value is worth more than the actual value of your business? This is actually a common occurrence and a question we are often asked to provide guidance on. Our Senior M&A Analyst, Jared Tanke is back to provide informative insights and various scenarios. Question: What should I do if my property/real estate is worth more than the value of my business? Jared Tanke: I have heard this question much more frequently over the past few years as property values have appreciated at an exponential rate, and it’s a fair question. In last month’s Ask the Analyst, Jarod Bernat answered the question about the difference between valuing real estate as “highest and best use” and “Special-use” which goes hand in hand with this month’s question. There are a few different […]
October 24, 2022

Ask the Expert: Competitor Pricing

We want to continue to provide you with insight and guidance on Pricing. For this month’s column, we spoke with Doug Gober again as he answers more popular pricing questions. Continue reading below as we provide information on competitor pricing. Question: Should I set my prices lower than my competitors to gain market share? Doug Gober: The critical factor when determining your pricing should be how you want to be seen in the marketplace. Since the funeral and cemetery market is segmented, it is a challenge to be all things to all people. It would be in your best interest to focus only on your business and define who you want to be in the marketplace rather than what your competitors are doing. This idea of determining your position is certainly more important than seeing what your competitors in the market […]
October 24, 2022

Ask the Analyst: Understanding Property Value

Understanding the value of your business is vital. Not only is it needed if you were considering selling your funeral home or cemetery, but it is also important to know to operate strategically and efficiently. One of the major components in your valuation is the property value. We asked Senior M&A Analyst, Jarod Bernat to further elaborate on this significant element of your business valuation. Question: Why do you value my property at “X” amount in your valuation when surrounding commercial real estate is worth X+100? Jarod Bernat: Real estate values seem like a straightforward topic since it is public record to see the exact sales price of recently sold comparable properties in your market. Thus, it would make sense to think your property would be comparable to those in value. However, this real estate value is decided by the […]
September 28, 2022

Ask the Analyst: Setting Targets for the New Year

At this point, funeral home owners and cemetery operators should have their 2023 strategic business plan near completion. One of the important elements in your plan is your targets and expectations for the coming year. We understand that this can be complicated due to the lingering impact that the pandemic has had on our businesses. We asked Senior M&A Analyst, Jarod Bernat to further elaborate on whether these areas need major adjustments. Question: How do I adjust my targets and expectations coming out of the pandemic? Jarod Bernat: This question has many different variables affecting how one may have seen the pandemic affect their business, and how they can expect the business to change again coming out of the pandemic. What we have seen with our clients at Foresight is that due to gathering restrictions during the height of the […]
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