Ask the Analyst

As we collaborate with our clients on their business operations, one of the components that we always factor in is creating a proper your succession plan early so that you are prepared well in advance of your transition out of the profession. Planning for your future now is vital. We asked Senior Associate, Jarod Bernat to share his insights on how the importance of a succession plan for a funeral home or cemetery business. Question: I do not have a succession plan for my business created yet. Do I really need one? Jarod Bernat: It often seems that within our profession, “planning for the future” takes on a different meaning than it does to the rest of the world. The funeral and cemetery profession is dominated by devoted servants to their communities who plan their lives and their businesses one […]

As we guide our clients through the uncertainties of 2024, the question of strategic positioning is paramount. We asked Financial Analyst, Taylor Weber to share her insights on how to set your business up for success this year. Question: “How can we strategically position ourselves for success in 2024, and what key factors should we prioritize?” Taylor Weber: This is a very important question and one that we are asked a lot by our clients, especially during the first month of the year. Establishing a solid budget and goals for our clients heading into the new year involves a collaborative effort and an evaluation of qualitative and quantitative factors, particularly considering the unique circumstances of what post-COVID looks like. It is crucial to recognize that comparing historical operations to the anomalous years of 2020-2021 might not be practical. The industry […]

We begin 2024 in just a few days. For many people, it is a stressful time wrapping up the year and beginning the next. However, it is our goal to help relieve some of that stress. We asked Senior M&A Analyst, Jared Tanke to share a few key questions to ask yourself now, in order to keep 2024 in focus and make it your best year yet: What went well in 2023? By asking yourself this question, you must recall the past 12 months and identify the things that you, your staff, did well. Was there anything you changed or did differently this year than years past, and if so, how did that look and feel? Sometimes this is done by performing a SWOT analysis, which goes out identifying your strengths and weaknesses, and your opportunities and threats. While we […]

Growing 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. […]

The 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 […]