Valuation Mergers and Acquisitions

July 13, 2018

If Dying in Your Funeral Home is on Your Bucket List, Then Don’t Read This

We’ve all heard about it, some of us have one, and a movie was made to shed light on how it can be accomplished: A Bucket List. A loose definition of a bucket list is coming to terms with who we are as a person, what we have or have not accomplished in life, and the desire to complete a list of things we want to see or do before death. Personally, at this point in my life I don’t have a long list. Returning to Cuba for a week of cigars with local libations and attending a Little League World Series in Williamsport, Pennsylvania are two that remain. As we in the funeral profession know all too well, many people have a bucket list that never came to fruition. Death is not a scheduled event (except for a conviction […]
February 14, 2018
Funeral And Cemetery Consultants Blog Retirement Planning And Social Security

Retirement Planning and Social Security

Dear Dan, I’m getting old, about to turn 62. I have owned my business for 30 years. I’d like to work until age 66 and sell the business at that time. I have a key person who wants to buy my business. The sale could coincide with my birth month, and I would like to take my Social Security at its full value. As my location is rural, I have had trouble attracting staff. My key person has been with me for 20 years – just the two of us doing everything. I told him I would be happy to stay on after the buyout for a modest salary, assuming I am only doing modest labors. I don’t want any surprise to my Social Security retirement benefit due to my continued working status. What advice can you give me? Old […]
January 25, 2018

Cemetery Impossible – Taking over a cemetery just before the sales run out calls for a hard look at the trust fund

Dear Cemetery Impossible, I live in a small town and own the local funeral home. There is one cemetery in town. It is a 40-acre cemetery and down to its last salable acre. The current owners have come to me and asked me to buy it. They are asking for $100,000. That doesn’t seem like much. My banker thinks he can do a loan for me through the SBA. My concern is, what happens when it is fully subscribed, which could be within 10 years? I have been told by the owners they are fully compliant with their perpetual care funding requirements.                 Right Time To Buy   Dear Right Time, I have done articles in the past on the issues involved in value, so I won’t waste the column inches to repeat myself again. But a purchase price of […]
December 13, 2017
Funeral And Cemetery Consultants Dan Isard Isard ICCFAMag 12 001

Cemetery Impossible – Starting a cemetery

Dear Cemetery Impossible, I have been offered land at a very attractive price and I think it can be converted to a cemetery.  The property is already zoned so that a cemetery is an acceptable use.  There are two other cemeteries about 10 miles away from this site. I am a long-time reader of this magazine even though I do not currently own or work in a cemetery. I have been around funeral service a long time, working as a casket salesman. A popular country and western music star heard of my plans and told me he will buy a family mausoleum if I do this. Will that bring in more business? I am ready to invest all I have. What am I missing? Wishing on a C&W Star   Dear Wishing, First, what you’re missing is all the things […]
November 15, 2017
Funeral And Cemetery Consultants Dan Isard Isard ICCFAMag 11 001

Cemetery Impossible – When is it OK to insert ‘to the best of my knowledge’ in warranties & representations?

Dear Dan,  I was recently in the process of selling my cemetery. The lawyers produced a sale agreement. When it came to the representations and warranties of the seller (me), there were items that I know are accurate and I can opine to. However, on some items I asked my lawyer to insert the phrase, “to the best of my knowledge.” The buyer would not allow this modification. They wanted an unlimited statement from me which I felt unqualified to give. I called off the sale. I know you are not a lawyer, but I also know you have been through hundreds of transactions in your lifetime. Was my lawyer wrong or was the buyer’s lawyer wrong? X Dear X, In any business transaction, there are fears and insecurities present for all parties involved. The seller’s fear is that they […]
Call Now Button
The Foresight Companies Home Page Floating Banner