Thought Leadership

March 28, 2025

Ask the Analyst: Tariffs and the Funeral Profession: What to Watch For

Written by Luke Potter The global nature of today’s economy means that tariffs, or taxes imposed on imported goods, can have far-reaching implications—including within the funeral profession. While many funeral homes may not feel the immediate impact of tariffs, it is essential to remain vigilant and prepared for potential ripple effects on business operations and the merchandise clients depend on. Staying informed and proactive can help professionals navigate these challenges while maintaining the quality-of-service families expect. How Tariffs Impact Merchandise One of the most direct effects of tariffs lies in the cost of funeral merchandise. Many caskets sold in the U.S., for example, are manufactured in countries such as China, Mexico, and Canada. If tariffs are imposed on these imports, the increased costs could trickle down to funeral homes and their clients. For instance, a 25% tariff on a $1,000 […]
March 28, 2025

The Pros and Cons of AI in Funeral Service

Embracing innovation while honoring tradition. The funeral service and cemetery professions have always stood at the intersection of tradition and adaptation. From the beginning, their focus has been on providing comfort, care and dignity to families during highly challenging times. Despite this heritage, however, funeral service is similar to other professions and therefore not immune to the rapid advancement of technology. Artificial intelligence (AI) has found applications across various sectors already, and it is now making its way into funeral home and cemetery operations. When I was first approached about the AI concept for funeral service four or five years ago, I confess I didn’t see the fit. I was wrong, however, and now see that AI is transforming the profession. In order to come to that realization, however, I had to understand how such a deeply human-centered vocation – […]
February 27, 2025

Ask the Analyst: High Rates, Hard Truths-How Funeral Homes Can Survive 2025’s Economy

Written by Axel Jean-Francois Let’s cut to the chase: Ignoring the Fed right now is like pretending it’s still 2019—and that’s a fast track to trouble. Interest rates are higher than they’ve been in 23 years, inflation is cooling off slower than we’d like, and your staff could bail for better hours at Amazon if you blink wrong. Sound dramatic? Maybe. But for funeral home owners, it’s the new normal. A Quick Reality Check: Ryan’s Dilemma Take Ryan in Louisiana. Back when COVID-19 cases were sky-high and interest rates were rock-bottom, he invested in a beautiful new facility to better serve his community. Fast-forward to 2025: calls have dropped from the pandemic levels, and his adjustable loan rate keeps inching up. Now that once-profitable expansion is weighing him down—monthly payments ballooned, and Ryan’s scraping for every dollar just to break […]
January 28, 2025

Ask the Analyst: Strategic Steps for a Stronger 2025

Written by Taylor Weber As we step into 2025, funeral home owners should focus on proactive adaptation rather than just market monitoring. Last year, we emphasized the importance of tracking market share to understand where your business stands. This year, it’s about using that data to make strategic moves. Here’s a focused checklist to help position your funeral home for success. Your 2025 Readiness Checklist Strengthen Financial Health Optimize your budget by going beyond a basic budget—review your cash flow plan, pricing strategy, and cost structure that align with rising expenses and market shifts. Strategic pricing adjustments ensure your pricing aligns with market trends and your profitability goals, especially if service costs are increasing. Strengthen your cash flow by actively reviewing outstanding balances and enforcing clear payment policies to reduce receivables. Enhance Family Experience & Service Personalization Families expect more […]
January 28, 2025

Three Pillars of Funeral Home Success in 2025

As Foresight’s annual Funeral and Cemetery Consumer Behavior Study has revealed for the past five consecutive years, competition is intensifying and technology is reshaping how funeral and cemetery professionals connect with clients as consumer preferences and expectations evolve. To not just survive but to thrive in this dynamic environment, funeral homes need a robust strategy built on three fundamental pillars: self-awareness, a proactive business plan and a strong, supportive culture. These elements are inextricably linked; together, they create a synergistic approach to success. The Power of Self-awareness Success begins with a multifaceted understanding. In the funeral home context, this requires a keen awareness of three critical areas: yourself, your business and your community. Self-Awareness: The capacity to understand your own emotions, thoughts and behaviors is paramount for effective leadership. For funeral home owners and managers, this translates into a realistic […]
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