September 18, 2018
Published by 
Ed Michael Reggie on September 18, 2018
Ed Michael Reggie on September 18, 2018Over the past three years, I have led the startup of a company, Funeralocity, which is making inroads into the funeral profession by creating an independent online source to help consumers identify the right funeral home to serve them. After three years of development, we launched in May 2017 in Atlanta. Since then, we have inter- acted with more than 100,000 users. In this article, I will give my perspective on the recently issued NFDA Consumer Awareness and Preferences Survey and contrast it to the 2016 Harris Poll we commissioned. I’ll also share some consumer insights we’ve gained over our year of operation and make some predictions that funeral home owners and managers can use to plan their futures in online marketing. As this is the first time I am sharing this company information with the profession, please let me […]
September 17, 2018
Published by 
Dan Isard on September 17, 2018
Dan Isard on September 17, 2018When it’s time to sell your business, do it the right way. Dear Dan, In 2010, I was ready to sell my business, and my accountant did a valuation for me. I had two key people working for me for a decade, and they were honorable, hardworking and trustworthy. They wanted to buy. I wanted to sell. It seemed so simple. The accountant said the business was worth $2 million – $1 million for the real estate and $1 million for the business. So I told my key people that I would carry back the note on the $1 million business purchase agreement over 10 years at 8% interest. They would pay me $150,000 a year for 10 years. I also agreed to lease them the building for $100,000 per year. Once they paid off the purchase agreement, they could […]
September 17, 2018
Published by Dan Isard on September 17, 2018
Dan Isard on September 17, 2018Believe it or not, there are few things I like more than looking at a survey! It’s one of geekdom’s greatest moments. The 2018 NFDA Consumer Awareness and Preferences Survey gives a million dollars’ worth of data and thought-provoking issues at no cost to members. In reviewing this year’s results, I see three key takeaways that should cause all business owners to alter their business model. This report is unique from most polling that takes place for the following two reasons: This study is ongoing; you not only get the impressions of the respondents for the current year, you’re also reminded of previous years’ replies. The commitment NFDA has made is substantial in continuing this analysis (the first versions of the survey were underwritten by FAMIC’s Wirthlin Survey). This isn’t just a survey; it’s an awareness and preferences study. There […]
September 14, 2018
Published by 
Stephanie Ramsey on September 14, 2018
Stephanie Ramsey on September 14, 2018The Family and Medical Leave Act of 1993 Mason Funeral Service is a 500-call funeral business located in the Central Northwest region of the United States. The business is family owned and managed by Donald and Cindy Mason. Don and Cindy have 10 full-time employees and a large roster of part-time employees they call upon as needed. Most have been with the business for multiple years, and they have a very strong and positive team-oriented atmosphere that all the employees appear to enjoy. One of their best full-time funeral directors, Jim, recently notified Don and Cindy that he had cancer and needed to undergo surgery and chemo treatment. The surgery and following treatments would keep him out of work for several weeks. Jim inquired about a medical leave and compensation. The business has various employee documents, including an employee handbook, […]
August 15, 2018
Published by Dan Isard on August 15, 2018
Dan Isard on August 15, 2018Selling your business to a key person is one option. A look at the preparation involved. Dear Dan, I have three children. Unfortunately, all of them have pursued careers other than funeral service. I tried everything to bring them into the business – they went out on removals when they were teenagers and were exposed to the prep room; I offered to pay for their education and even offered a Corvette Stingray to any who went to mortuary school! Nothing worked. (I can tell you… I remember when my father got me my 1967 cherry-red Corvette. I was the hit of the incoming class at CCMS). Now I am getting ready to retire. I have a great key person working in the business who has expressed interest in service to families and the business side as well. Unfortunately, she is […]