June 26, 2022

Legal Check: Who Is Entitled to Preneed Growth?

Scenario: Rico Funeral Home & Cremations has been successfully growing market share since it first started serving the community in southern Ohio over six years ago. Owner/operator Bernardo (“Bernie”) Rico had primarily focused on serving at-need calls because of his operational growth strategy and because of its immediate impact on cash flow. However, Bernie’s families had been inquiring more and more about preplanning and preneed, so Bernie partnered with a third-party preneed insurance provider a little less than two years ago. Bernie’s strategy was to actively sell preneed to areas of town or zip codes where his business was not already drawing at-need business and more passively to parts of the community where the at-need business was already coming from. Results have been pretty good, with Rico Funeral Home & Cremations building up a solid backlog of its preneed book […]
June 26, 2022

Defining Your Legacy

How to Maximize the Three Major Business Life Events As people, we all go through various life events that can shape the course of how we live our lives in the present and what that will mean for our legacies in the future. These can range from what college you go to, the profession you choose for your career, all the way to where you decide to live and raise a family. Funeral home and cemetery owners go through various life events as well, but the common three that shape and define legacies are: how/when you decide to become an owner, how you decide to own and operate your business financially, and ultimately how you plan the succession/sale of your business. As a funeral business owner, it is important to align yourself with tailored companies who understand the opportunities and […]
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