September 28, 2023
Published by 
Nicole Vullo on September 28, 2023
Nicole Vullo on September 28, 2023The Foresight team is excited to announce that we are introducing a new blog column! When we first started our Ask the Experts and Ask the Analysts columns it was our goal to use these blogs to answer the most important questions funeral and cemetery professionals had about their businesses. With this is mind, we wanted to bring a new perspective to these vital questions: the viewpoint of owners and operators. We are honored to introduce you to Stephen and Diann Anderson, formerly of Anderson Funeral & Cremation Services. Each month Stephen and Diann will provide insightful information to help you improve how to operate your businesses. To start our column, please allow us to introduce you to Stephen and Diann as they tell us their goals for the “Ask the Owner” blog column: To the Funeral and Cemetery Profession, […]
September 26, 2023
Published by Nicole Vullo on September 26, 2023
Nicole Vullo on September 26, 2023Having a succession plan in place for your funeral home or cemetery business is vital in today’s business environment. While there are many elements that go into your succession plan, one that is of high importance is who to choose as your successor. In our latest Ask the Analyst blog, Sierra Heil shares the key consideration when deciding who the successor of your business will be. Question: I am in the process of deciding who to succeed me in my funeral business. What are the important things to consider when selecting my successor? Sierra Heil: For all funeral home owners the decision to choose a successor to sell your business to is a significant and deeply personal one. Your business holds a special place in your heart, as you have helped families during their most challenging times and built up a […]
August 28, 2023
Published by Nicole Vullo on August 28, 2023
Nicole Vullo on August 28, 2023Funeral service consumers are speaking up, but are we listening? A little-known fact about me – I am a sucker for greeting cards and quotes. I cannot get enough of them and will easily spend hours browsing for the perfect card to give a loved one. Some may find them cheesy and cliché, but I am not one of them! I want to begin with a quote from famous novelist Ernest Hemingway, who once said, “When people talk, listen completely.” Are you still with me? Those words of Hemingway’s are a solid example of what should be a guiding principle for funeral home owners and cemetery operators when dealing with client families. Okay, one more and I promise I’m done. This is from Epictetus, a Greek philosopher. He states, “We have two ears and one mouth so that we can […]
June 27, 2023
Published by Nicole Vullo on June 27, 2023
Nicole Vullo on June 27, 2023Written by Sierra Heil, M&A Analyst Despite challenges in the current market environment, such as a slowing economy, inflation, and rising interest rates, many funeral home owners and cemetery operators are focused on succession planning. A 2021 survey by the National Funeral Directors Association found that 27% of owners planned to sell their business or retire within five years, meaning we are likely to continue to see plenty of transaction activity despite potential economic obstacles. Technology, shifting preferences, and changing demographics shape the nature of these transactions. While every business and community differs, careful strategic planning and awareness of changing landscapes can position an owner favorably when the time comes to sell. Increasing Private Equity Investment & Consolidation According to the NFDA, as of mid-2023, 89.2% of funeral home businesses are still independent and family owned. However, as the population […]
June 27, 2023
Published by Nicole Vullo on June 27, 2023
Nicole Vullo on June 27, 2023Add a Traditional Element to Today’s Techie Marketing Strategy Whether it is a conversation with friends and family or your coworkers, it seems everyone these days is talking about all thing’s robots. With all due respect, it is a valid topic. Ever since ChatGPT started to make its presence known toward the end of 2022, the terms “AI” and “automation” have quickly become hot buzzwords. On a lighter note, I can recall a team lunch in our office that started out discussing ChatGPT but quickly segued into a conversation of “what was the name of the Jetson’s maid?” I will save you the Google search: her name was Rosey. My point is that in 2023, all these futuristic elements that we expected to happen at some point in the new millennium are becoming mainstream. And while they are great tools […]