June 26, 2022
Published by 
Dan Isard on June 26, 2022
Dan Isard on June 26, 2022The single largest cost of running a funeral home comprises salaries, benefits and employment taxes. Together, they make up employee compensation. In the 1980s, when some casket companies spent $250,000 on their NFDA booth build-out and another million dollars on an extravagant cocktail party during the convention, the cost of goods was about 20% to 25% of revenue while compensation typically ranged from 26% to 40%. Yep, you could eat and drink for free in those days thanks to the casket companies, but the people paid to run the businesses were getting the bulk of the revenue! As noted above, compensation consists of three key components: Salaries This includes those you employ, full and part time, licensed or non-licensed, as well as any third parties you pay to supplement your staff for removals and body prep. It also includes the […]
June 26, 2022
Published by 
Nicole Vullo on June 26, 2022
Nicole Vullo on June 26, 2022Planning for the succession of your funeral home or cemetery business is one of the hottest topics within our profession. It is a process that takes time and dedication to complete. We were recently asked about the process and if it is something that requires a business consultant. John T. McQueen, CFSP uses his own experience to provide insight on this important question. Question: Do I need a business consultant to help with my succession plan? John T. McQueen, CFSP: At a point in your career, you will find yourself in a unique position, caught between sense of duty and sense of family. You have spent a lifetime serving others and building or continuing your family’s legacy in funeral service. It has been a tiresome job at times, yet it has also been the most rewarding when the family hugs […]
May 31, 2022
Published by Nicole Vullo on May 31, 2022
Nicole Vullo on May 31, 2022Have you wondered what is the most important elements of your funeral business marketing plan? Google, Social Media, and your website are some of the elements that come to mind. Continue reading below as I provide my insights to this important question below. Question: Part of my 2022 goals for my business is to improve on the marketing activities of our funeral home. What is one thing we should work on first to improve our marketing plans? Nicole Vullo: To me, there is not better time to improve on your marketing efforts than this very moment. In our 2022 Funeral and Cemetery Consumer Behavior Study, one of the finding we discovered is that consumers are relying heavily on your website to make their decisions as to whether to use your business for their needs. In fact, 70% of consumers want […]
May 30, 2022
Published by Dan Isard on May 30, 2022
Dan Isard on May 30, 2022The cemetery has been in operation forever. You have been on the board for a long time. But times are changing. Sales are impaired. Cash flow is tight. You need to reconfigure your master plan to be more cremation focused. Finding good management for day to day is worrisome. On top of that, there is going to need to be an infusion of capital and you can’t find a bank to loan to your cemetery. What do you do to resolve this seeming impasse? This conundrum is not limited to nonprofit cemeteries. It is a similar matter for public cemeteries owned by municipalities. It is also an ongoing issue for church cemeteries. As you attend ICCFA meetings and see old friends, a few of them have chosen to try and sell their cemeteries. You now understand why they chose that […]
May 30, 2022
Published by 
John McQueen on May 30, 2022
John McQueen on May 30, 2022Your clients will thank you In the 1609 William Shakespeare play, hamlet, the main character is torn between life and death. His famous line, “To be or not to be, that is the question,” is most appropriate when discussing Celebration of Life ceremonies. And although the question is different, the conundrum remains the same: Do families want a celebration of life or not? I’m here to tell you that the answer is yes, but will it be held with you, the funeral professional, is the real question. As identified in The Foresight Companies’ 2021 Consumer Survey, 63% percent of consumers feel a big celebration is important in honoring the life of the deceased. In fact, this number has increased in the post-pandemic world in which we now live. On the surface, that number looks to be good news for the […]