November 28, 2023
Published by 
Nicole Vullo on November 28, 2023
Nicole Vullo on November 28, 2023Growing your business can be challenging for some owners and operators within the funeral and cemetery profession. Between competition in your market to adapting to new consumer behaviors, we understand the process of growth can become complex. We asked Senior M&A Analyst, Jarod Bernat to further elaborate significant ways to expand your business. Question: I feel like our funeral home’s market share has hit a plateau and can’t seem to grow any further. How can I continue to grow my business? Jarod Bernat: Since the funeral industry is one where serviceable market areas and direct competitors can be easily identified and tracked, it’s easy to keep up with how you compare to “the other guys”. Sometimes it might feel like you’ve exhausted all resources trying to grow within your market, but you’ve hit a wall and case count won’t budge. […]
October 26, 2023
Published by Nicole Vullo on October 26, 2023
Nicole Vullo on October 26, 2023The new year may seem like it is far away, but there are just a mere 10 weeks left. While owners and operators have to keep their eye on the ball in order to maintain a strong finish to the year, simultaneously they must also keep the future in focus. This means, budgeting for 2024. We asked Senior M&A Analyst, Jared Tanke to further elaborate on this process. Question: I am in the process of starting my 2024 business plan for my funeral home. What is the first step that I need to take to create a successful plan? Jared Tanke: Budgeting for a funeral home is absolutely critical to maintaining quality service, having adequate reserves for upgrading facilities, and navigating the constant changing landscape of the profession. Having a well thought out planning session where you lay everything on […]
September 26, 2023
Published by Nicole Vullo on September 26, 2023
Nicole Vullo on September 26, 2023Having a succession plan in place for your funeral home or cemetery business is vital in today’s business environment. While there are many elements that go into your succession plan, one that is of high importance is who to choose as your successor. In our latest Ask the Analyst blog, Sierra Heil shares the key consideration when deciding who the successor of your business will be. Question: I am in the process of deciding who to succeed me in my funeral business. What are the important things to consider when selecting my successor? Sierra Heil: For all funeral home owners the decision to choose a successor to sell your business to is a significant and deeply personal one. Your business holds a special place in your heart, as you have helped families during their most challenging times and built up a […]
August 28, 2023
Published by Nicole Vullo on August 28, 2023
Nicole Vullo on August 28, 2023Written by Jarod Bernat, Senior M&A Analyst Over the past few decades, we saw the introduction of the FTC rule requiring funeral homes to provide families with GPL’s when requested, the introduction of the internet providing a whole new interface with consumers, and the newest FTC rule requiring online access to GPL’s in some states. Given that the industry is well-known for not being early adapters to new technology or trends, it is no surprise that there has been significant pushback to the utilization of the internet to display pricing within the profession. Business owners fear that when prices are posted online, they will be compared to their competitors, and prices will become a race to the bottom. But while this may seem like the only possible conclusion at first glance, there is much more to consider as the internet […]
July 27, 2023
Published by Nicole Vullo on July 27, 2023
Nicole Vullo on July 27, 2023One of the important steps to take when considering selling your business is to review your financial health. Part of this is to review any addbacks or adjustments to your EBITDA Figure. As this is of high importance to potential buyers of your funeral home or cemetery, we asked Jared Tanke to walk us through some examples. Question: I am reviewing my 2023 information to prepare for a potential sale. What expenses can be added back to my financials? Jared Tanke: When it comes to evaluating the financial health of a funeral business for potential acquisition, one key metric that buyers often consider is EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). However, it is important to understand that EBITDA alone may not always provide a complete picture of a company’s profitability. To accurately assess the true financial performance, buyers […]