Valuation Mergers and Acquisitions

August 31, 2017
Funeral And Cemetery Consultants Dan Isard Time To Sell May 2017 Jh Page 1

Time To Sell Your Funeral Home Business

The funeral profession is approaching an era unlike we have experienced thus far. With the average age of a funeral home owner approaching sixty-six years old, over the next several years there will be an increase in the business transfer activity in our profession. When I describe a transfer of a business, I’m speaking about funeral homes that will be sold, follow a family succession plan, merge, or close their doors. Funeral home owners have the following questions to ponder: When should I sell my business? How much is my business worth? To whom should I sell my business? What are my options if I can’t sell my business? Let’s address the questions above to initiate fodder for thought about a ginormous (big deal) life event. I have been around the profession a while, and even though I cannot predict […]
October 5, 2016
Funeral And Cemetery Consultants Blog Dan Isard

Figuring out what your cemetery is worth and how its sale can fund your retirement – Cemetery Impossible – October 2016

Figuring out what your cemetery could be worth on the open market is a good idea if you plan to retire in a few years. But your local commercial real estate appraiser might never have valued a cemetery in his life. Cemetery Impossible Figuring out what your cemetery is worth and how its sale can fund your retirement Dear Cemetery Impossible, I own a 60-year-old cemetery started by my parents. It was a farm before we established the cemetery. I have about 100 acres, of which 10 are fully sold out. Within the remaining 90 acres, six are plotted and the balance remain undeveloped. I do about 200 sales a year with 150 interments. The cemetery is all ground interment with no above-ground options. I am reaching retirement age and thinking about selling. I had it valued by a local […]
July 29, 2016
Funeral And Cemetery Consultants Dan Isard Finance 101 August 2016

Ready For a Buyout? – Finance 101 – August 2016

Dear Dan, I am 54 years old and finally ready to buy out my father. I really should say Dad is 78 years old and finally thinks I am ready to buy him out. Regardless, my lawyer is telling us that we should use a cross-purchase agreement and my accountant is telling us to use a corporate redemption agreement. I don’t see the difference. Both ways, I own the business and Dad retires (finally). I’m sure you know the difference and can sim- ply tell us which to use. Signed, Finally Ready to Buy in Findley Dear Finally Ready, Your question is a very common one, and most people don’t know which agreement to use. Let’s start by explaining each route. A cross-purchase agreement is an agreement between shareholders – if one party sells, the other party buys. A corporate […]
June 30, 2016
Funeral And Cemetery Consultants Blog A Southern Boy Talks ‘Bout Selling

A Southern Boy Talks ‘Bout Selling

I am honored to have the opportunity to share information with my fellow Southerners in order to demystify how to make educated decisions when it comes to selling your funeral home. I will proceed in simple terms and speak (with a Southern flair of course). Most funeral home owners are as busy as moths in a mitten and don’t have time for the distraction of thinking about the future. The decision for a funeral home owner to sell their business comes from different angles and the funeral industry is wrought with misinformation about this subject. Some owners decide to sell when seeking retirement. After years of serving families, late nights, and missed events, the thought of living out life at a much slower pace is attractive. Others desire to “take their hands off the wheel” allowing either children or key […]
May 26, 2016
Funeral And Cemetery Consultants Dan Isard Finance 101 June 2016

Business Survival – Finance 101 – June 2016

Whether you sell to a family member, key person, outside individual or large company, the decision should be made with personal self-interest in mind. Dear Dan, I am 64 years old and the fifth generation of my family to own this business. We go back more than 125 years of family ownership. I have three children and it’s clear to me that none of them wants to continue the family ownership. One tried working in the business but did not like it. I myself, after a 20-year career outside of funeral service, came back into the business when my father got old. I am glad I did for many reasons. However, it disappoints me that this business may cease to be within my family. Frankly, I feel guilty and distraught. What last-ditch effort can I try to get my children […]
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