Business Financing

We all look to compare ourselves to others. In the world of business, we can only do this by relying on a common set of indicators. These indicators are called Key Performance Indicators or abbreviated as KPI’s. In the cemetery business, there are only a few reliable KPI’s.I have studied this phenomenon for 40 years. As I reach the end of my career, I feel compelled to raise the subject and explain why it is so. Here Comes the Math KPI’s are expressed as a percentage. As you remember from seventh grade algebra, the percentage is computed from a ratio. To understand the KPI for overhead, you have a nominator that is the Expense over the denominator which is Revenue. Therein is the problem of establishing a KPI for cemeteries. The Revenue is inconsistent because some cemeteries have an emphasis […]

Breaking free from old-school beliefs will lift your firm and the profession. Written By Chris Cruger and Alice Adams We’ll begin with the question, “Why are all funeral homes not the same?” Don’t they all remove decedents from the place of death? Don’t they all use the same equipment for first calls? Don’t licensed funeral directors meet with the next of kin? Aren’t the options for services and final disposition the same? Stepping back in history, opening an undertaking parlor meant having a wagon and team of horses to carry the decedent to the churchyard or nearest burial ground. Some combined undertaking with owning or working in a hardware, furniture or general store that doubled as their casket or coffin suppliers. Then they waited for someone to die. When the second generation showed up on the scene, there were telephones […]

Legal Reality Check: Case Study #5 Scenario: Peter Smith is a third-generation owner-operator of P. R. Smith & Sons Funeral Home & Crematory in northeast Florida. He’s in his first few years leading his firm, following in the footsteps of his father, Mark, and uncle, John, who had followed in their father, Paul’s, footsteps. Through the pandemic-heavy years of 2020 and 2021, Peter’s progressive thinking and technology-forward approach allowed the family funeral home to thrive and gain market share throughout the communities they serve. Investing in a complete website redesign in 2019 is one decision Peter attributes to his early success. It transformed the website into a topnotch, “front door” virtual site that truly informs the consumer of the business’ unique designations, options, features and value proposition. The site presents the funeral home’s pricing strategically and transparently. The website also […]