December 23, 2024
Published by 
Gabriel Ngo on December 23, 2024
Gabriel Ngo on December 23, 2024“So to the best we can, what we do is focus on creating value for others, and how do we do that? We do it by trying to produce products and services that our customers will value more than their alternatives, and not just their alternatives today, but what the alternatives will be in the future.” – Charles Koch, Chairman & CEO of Koch Industries Creating value for others involves producing products and services that the customer will value more than their alternatives—not just alternatives of today, but what alternatives there will be tomorrow. There, I summarized the pithy quote with some inherent wisdom built into it. The end, right? Regardless of how you might personally feel about oil companies, billionaires, Koch Industries, or the Koch brothers in general, I believe this quote applies to this profession now more than […]
December 23, 2024
Published by Gabriel Ngo on December 23, 2024
Gabriel Ngo on December 23, 2024Scenario: Robin John Blake and his wife, Barbara, own and operate Rio Grande Funeral Home & Crematory in Laredo, Texas. For the past 17 years, they have grown their business by serving the community with an excellent reputation. In 2024, Rio Grande served over 350 cases two years in a row for the first time. Laredo, as a funeral service market, is unique in that the city and its surrounding areas still have a relatively low cremation rate, especially when compared to other border Texas towns like El Paso as well as the Rio Grande Valley further south toward Brownsville. Robin was born in Laredo, and after traveling the world having worked in hotel and restaurant management, he came back to his home state and met his wife, Barbara, in Austin years ago. While Barbara’s background was in event planning […]
December 23, 2024
Published by 
Axel Jean-Francois on December 23, 2024
Axel Jean-Francois on December 23, 2024Selling a funeral home is more than just signing a contract and transferring ownership. It’s about finding a suitable successor who understands the business’s unique culture, values, and place in the community. Even if the purchase price is right, the deal can still fall apart if the buyer’s style, financing, or approach to due diligence isn’t aligned with what the seller expects. We recently examined a real-life case where a well-established funeral home tried to sell the business. Over time, they engaged with multiple buyers, each with different negotiation styles, expectations, and financial capabilities. Although the final sale did close successfully, the owners went through unexpected twists and delays along the way. This scenario offers lessons that can help funeral home owners, managers, and even staff members understand what really matters in a sale. Whether you are a first-year apprentice […]
December 23, 2024
Published by 
Jared Tanke on December 23, 2024
Jared Tanke on December 23, 2024A study performed in 2021 by Clutch, a leading B2B research firm, found that just 54% of small business owners had a documented budget that year. While I am optimistic that our profession skews higher than that, I’m sure those numbers may in fact ring true. That means there are a lot of funeral homes and cemeteries out there that have no real way of measuring their performance versus a benchmark, and that means it would be challenging to put forth any sort of financial goal. Since it is already challenging running a successful funeral home, we want to make at least one thing easier. I want to touch on just a few benefits of having a well-documented budget. Accountability – If you have ever gotten into a fitness routine and followed a training schedule, you know how important accountability […]
November 25, 2024
Published by 
Stephanie Ramsey on November 25, 2024
Stephanie Ramsey on November 25, 2024Will you be prepared for the evolving funeral and cemetery professions? Unbelievably, the 21st century marks its 25th year shortly. With 2025 just around the corner, it is a pivotal moment to reflect on the evolving needs and expectations of families, as well as the broader societal shifts impacting how we handle death and mourning. The next few years promise significant changes driven by technological advancements, shifting cultural attitudes, and evolving demographic trends. How can funeral professionals prepare for these changes to better serve their communities and continue to be profitable? Let’s explore the key areas to consider as you formulate your plan. Embracing Technological Advancements The Foresight 2024 Funeral and Cemetery Consumer Behavior Study (2024 FCCBS) highlights several technological trends that are reshaping the funeral and cemetery profession. Embracing these changes is crucial for staying relevant: Virtual and Hybrid […]