April 27, 2017
Published by 
Catherine Belliveau on April 27, 2017
Catherine Belliveau on April 27, 2017Let’s Talk Seriously About Accounting By Mandy M. Rohde and Daniel M. Isard This profession is largely made up of caregivers. As such, you focus on the needs of the families in your community more than the needs of your own family. We get it. Profit margins have gone down since the 1980s. The average profit for a privately-owned business has fallen by almost 60 percent from about 14 percent of revenue to 6 percent of revenue. Our studies conclude that this is due to four factors: The Federal Trade Commission’s mandated Funeral Rule and the creation of an itemized General Price List. The rise in cremation and the inability to determine how to price for it. The rise in preneed with the limited crediting rate on accounts. The lack of desire on the part of the 10,000 owners of […]
April 20, 2017
Published by 
Stephanie Ramsey on April 20, 2017
Stephanie Ramsey on April 20, 2017HR Reality Check: Yep, the Stories are True! By Stephanie Ramsey HR Case Study #5 Scenario: Millennial Funeral Services, owned by Mark and Margaret Millennial, is a funeral business in a Midwestern state that recognizes at-will employment. Including the two owners, they have 15 employees. While neither of Mark and Margaret’s children is active in the business, they do have a quality key employee, John James. In fact, they have spoken to John about how the business could potentially transfer to him when Mark and Margaret are ready to retire in about 10 years. About two years ago, John began dating a woman and they were married within six months. Mark and Margaret were happy for John and still interested in selling him the business. However, last year they hit a snag in their plans. It started simply with John […]
March 17, 2017
Published by 
Dan Isard on March 17, 2017
Dan Isard on March 17, 2017The world of funeral service requires financial conservatism in its approach to business. This world, inhabited by multigenerational audiences of providers and customers, also requires authenticity and is in dire need of concise and clear communication. Finally, in the funeral world in which we exist, relationships come first. If you agree that these viewpoints are on target, can we embrace, with our technology environment, the consequences of socially evolving? Although I am not a legend in the profession, I have memories of funeral services from my childhood on my father’s side of the family. For the small South Carolina town, where 11 generations of my relatives rest in a church cemetery, a funeral was indeed a social event. A front porch light left on at the local funeral home was a signal to the community that a body “was in […]
March 17, 2017
Published by Dan Isard on March 17, 2017
Dan Isard on March 17, 2017Consider the many variables that come into play when making this decision for your firm. Dear Dan, I have a new funeral home and am ready to decide between two preneed insurers. Each has its own marketing company that will do the local selling for me. One gave me a good pitch that focuses on the strength of its financial assets. The other told me that all insurers are the same but that they have a better marketing plan. So, if it were you, which would you choose – strong financials or the ability to put more business on the books? Signed, Preneed Dependent in Portland Dear PDP, You have narrowed down your search to two very candid and easily differentiated third-party marketing (TPM) companies. If one is going to focus on more sales, that will help you build your […]