May 29, 2024
Published by 
Gabriel Ngo on May 29, 2024
Gabriel Ngo on May 29, 2024How to adapt to growing consumer demand for transparency and strategically navigate the FTC’s oncoming pricing requirements. Last month’s article, “Understanding Your Recovery Cost,” by Nelson Thulin, focused on appropriately pricing your services in order to cover your overhead costs. As a follow-up, this article focuses on what you should do to make your business more transparent to consumers once your pricing is in order. This involves answering three questions, which I will share in a bit, as well as understanding today’s consumers and the implications of why they increasingly demand transparency from businesses. Regarding the latter, it’s important to remember that the families you serve are simply a subset of consumers at large. This means they are influenced by the growing ease and experience they gain by patronizing Amazon, eBay and other online retailers. In practically every online experience […]
May 9, 2024
Published by 
Catherine Belliveau on May 9, 2024
Catherine Belliveau on May 9, 2024In the ever-evolving landscape of labor laws, on April 23, the Department of Labor (DOL) finalized a new overtime standard. This has the potential to significantly impact how funeral homes and funeral service businesses manage their workforce and finances. Key details of the new overtime standard are as follows: Increased Salary Thresholds Effective July 1, 2024, employees earning up to $43,888 per year and working more than 40 hours per week will be eligible for overtime pay at a rate of time-and-a-half. This threshold will rise to $58,656 per year starting January 1, 2025. Exemption Criteria Under the Fair Labor Standards Act, workers are exempt from hourly overtime requirements if they work in executive, administrative, and professional capacities, commonly referred to as the “white-collar” exemptions. To qualify for the exemptions, employees must meet a duties test and, in most cases, […]
April 28, 2024
Published by 
Nicole Vullo on April 28, 2024
Nicole Vullo on April 28, 2024How Seeing My Dad in His Casket Helped Me Mourn His Death Written by Diann Anderson, formerly of Anderson Funeral & Cremation Services We are continuing in our series of articles “Strategic Evolution Blueprint for Funeral Home Owners”. In previous articles I wrote about the importance of embracing change and having a “Strategic Evolution” blueprint for your funeral business. I have also covered topics like rethinking consumer needs in the funeral profession, the difference between three very different funeral home business models, and why I encourage you to think outside the funeral home box so to speak and start thinking “What’s my Mission?” as it pertains to the operation of your business. This month, I want to encourage you to reframe your thinking about ceremonies and specifically the importance of having the decedent’s physical body present for the ceremony. My […]
April 28, 2024
Published by 
Jared Tanke on April 28, 2024
Jared Tanke on April 28, 2024If you are like me, you are probably thinking how in the world are we already four months into the year? While relatively early still, it is always a good idea to take a minute to review what has gone well, what has not gone well, and figure out how to adjust with the remainder of the year. Just like SCI, Park Lawn, and Carriage do every quarter for their investors, every business owner no matter the size should have a quarterly report. Let’s dive into some of the key things to look at: Number of services – When looking at number of services in the quarter, we should not just fixate on the total, but really break it down into the number of traditional burials, traditional cremations, direct cremations, trade cases, donor calls, etc., so that we can better […]
April 28, 2024
Published by 
Stephanie Ramsey on April 28, 2024
Stephanie Ramsey on April 28, 2024Scenario: Kirkpatrick Funeral & Cremation Services consists of multiple locations in the southern United States. Duncan Kirkpatrick started the business with a single location 20 years ago. Duncan is very proud of how he has been able to grow the business over the years and the positive feedback he has received from the communities the business serves. This is a direct reflection of his highly trained and qualified staff. It has been challenging for Duncan to find and retain qualified staff, but he has diligently overcome this obstacle by providing great benefits and a wonderful work environment. Duncan worked with a professional to create an employee handbook and procedure manuals as well as a variety of other applicable HR processes for his entire operation. Employees are introduced to these processes from the day they are hired. Currently, his staff is […]
April 28, 2024
Published by 
Curtis Rostad on April 28, 2024
Curtis Rostad on April 28, 2024Did the DOL Make It Any Easier to Decide? Most employers are at least aware of the issue of independent contractor versus employee. But making the determination has never been clear. In 2021, the U.S. Department of Labor announced a final rule clarifying the standard for independent contractor versus employee under the Fair Labor Standards Act (FLSA). That may sound encouraging, but it is doubtful that the actual rule and background information consisting of more than 1,200 pages makes the designation any easier. The rule only clarified the factors to consider that are still open to interpretation. Why does this designation matter? There is a financial incentive to declare a worker an independent contractor. But declaring that designation does not make it so under the law. If a worker is deemed to be an independent contractor, the employer is not […]
March 28, 2024
Published by 
Luke Potter on March 28, 2024
Luke Potter on March 28, 2024As we guide our clients through the second quarter of the year, the question of seasonality arises as we get closer to Spring and Summer. We asked Financial Analyst, Luke Potter to share his insights on how to set your business up for the slower days of the summer months. Question: “How can we strategically position ourselves for when we approach the slower days in the upcoming months?” Luke Potter: The funeral business is one that operates in a realm where seasons may not always follow the typical patterns observed in other industries. Although the funeral and cemetery profession is not entirely predictable, there are strategies funeral home owners and cemetery operators can employ to navigate the slower days of summer effectively. Your Business is Your Baby Treating the business as if it were family is an essential principle to […]
March 28, 2024
Published by Nicole Vullo on March 28, 2024
Nicole Vullo on March 28, 2024Are You Part of the Death Care Industry or Are You Part of the Funeral Profession or Are You Playing in the Middle of the Road? In our next installment of Ask the Owners, Diann Anderson, formerly of Anderson Funeral & Cremation Services asks you to consider what category your business model falls into. She encourages you to pick one lane and get out of the middle: What sets a business apart? What drives a consumer to choose one business over another business that operates in the same sector? When it comes to purchasing real estate most everyone agrees that the biggest determination of a property’s value is “Location… Location …Location …” Of course, there’s many more factors that must go into the decision, but most realtors agree that location is one of the most important aspects of a property. […]
March 28, 2024
Published by 
Chris Cruger on March 28, 2024
Chris Cruger on March 28, 2024In the January issue of The Director, I wrote about the importance of planning, awareness and accountability as the bedrock of your business success in 2024. Having a plan is the first critical step. Next, and most important, is execution – putting a predetermined course (your plan) into action. It means carrying out tasks, activities and steps outlined in your plan to achieve your goal(s). If you don’t do those things, your plan will likely fail. In other words, a well-crafted plan is just the beginning. Its true power lies in the commitment and discipline necessary to make it happen. Execution marks the real difference between success and failure. Clearly Defined Roles The key starting point is laying out clearly defined goals about what you want to achieve. Make sure they are specific, measurable, achievable, relevant and time-bound, i.e., SMART […]
February 29, 2024
Published by 
Jarod Bernat on February 29, 2024
Jarod Bernat on February 29, 2024As 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 […]
February 29, 2024
Published by Nicole Vullo on February 29, 2024
Nicole Vullo on February 29, 2024In our next installment of Ask the Owners, Diann Anderson, formerly of Anderson Funeral & Cremation Services discusses the importance having the right team outside of your internal team to help you be a success: Trust is something that you do every day. To trust is to have a firm belief in the reliability, truth, ability, or strength of someone or something. While the concept of trust seems simple on the surface — it’s about believing in someone’s reliability, integrity, and competence — it involves various layers and nuances that make it intricate. One of the greatest challenges Steve and I faced when we started digging into changing the paradigm at our funeral home was “Who can we trust?” I’m not speaking about which employees are trustworthy. I’m speaking about the importance of having the right team outside of your […]
February 29, 2024
Published by Curtis Rostad on February 29, 2024
Curtis Rostad on February 29, 2024If you ask business owners to make a list of things they dread, having to fire an employee probably ranks right up there with an IRS audit. Both can keep you up at night and make you wish you didn’t own the place. But as much as they might dread it, eventually, most business owners are faced with having to terminate an employee. This article is intended to help when you are faced with that decision. First, I believe that no employee should be fired by surprise. They may be shocked when you actually do it, but they should already know that their performance (or lack thereof) has not been acceptable and that their job was at risk before they are terminated. I recommend that you conduct periodic job reviews and/ or have a progressive discipline policy. By reviewing performance […]