November 21, 2022
Published by 
John McQueen on November 21, 2022
John McQueen on November 21, 2022Ask the Right Questions, Get the Right Answers Most of us might be familiar with this verse from the Bible: “Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you.” Matthew 7:7 (KJV). The passage suggests that God will give whatever is needed to those who have the faith to ask for it. The same often holds true when it comes to helping cremation families. If you desire more than just a direct cremation, you must ask. The ask comes in the form of questions. You also must seek the answers you are looking for from your client. Only through exploration with conversation starters can you obtain the necessary knowledge to enlighten the family to additional offerings. Finally, you must knock if you want the door to be opened. In […]
October 24, 2022
Published by John McQueen on October 24, 2022
John McQueen on October 24, 2022The best thing I’m doing right now is evangelizing the value of the funeral, and not just to the outside world but to those in our profession as well. Granted, evangelism is typically used in terms of spreading the Christian Gospel, but it can also mean “a zealous advocacy for a cause” or “to talk about how good you think something is.” I believe now is a great time to be in funeral service. In fact, the services we provide are needed more today than ever before. We often hear individuals in funeral service refer to their chosen profession as a calling, much like someone’s calling into the ministry. In fact, many directors say they “minister” to the families they serve. Therefore, if the work of a funeral director is a calling, then I am proud to be a “‘funeral […]
October 24, 2022
Published by 
Curtis Rostad on October 24, 2022
Curtis Rostad on October 24, 2022One of the most basic and widely held employment practices in the country is called “at-will” employment. At-will employment simply means that the relationship between employer and employee can be terminated at any time, by either party, for any reason. An employer can fire an employee without giving a reason and, likewise, the employee can quit for any reason or no reason at all. In addition, the employer is free to change any terms of employment, including pay, benefits, and working hours. While many believe this to be arbitrary and unfair, no employees would want to be in a position where they must work at a firm they do not like or cannot accept another job offer because they are obligated to continue to work where they are for some period of weeks or months. The opposite of an “at-will” […]
October 24, 2022
Published by 
Dan Isard on October 24, 2022
Dan Isard on October 24, 2022For most cemeteries that are reliant on cash flow, there is no bigger issue than hiring a salesperson. This is a constant and recurring problem. Salespeople turn over constantly. It seems the only ones who don’t turnover are the bad ones. Hiring, training, compensating, and keeping them productive is a most difficult part of the job for any owner or general manager. While much of this article will be the same for funeral home advance sales sellers, I do not want to try and cover the two different fields of funeral and cemetery. The DNA of the sale itself is different. In a funeral home you are selling a service (albeit there may be some merchandise, but the service of the funeral is what you are selling). In a cemetery you are selling a product (albeit the service is getting […]
October 24, 2022
Published by Dan Isard on October 24, 2022
Dan Isard on October 24, 2022As you might imagine, when planning my scheduled columns so many months in advance, I keep them organized using the Dewey Decimal System and color coding. This allows me to write something in January that will be published in April and read in May, thus making my editor happy. Well, everything was running smoothly until NFDA published its 2022 Cremation and Burial Report, which ruined my nice, orderly life! Now, even though my life is upended, I have no desire to ruin yours. Therefore, before you read another word of this column, stop and get a copy of this report. It’s free for NFDA members. If you’re not an NFDA member, you have two options: Steal a copy from a friend who is a member or pay the nominal fee to get your own. Why? Because I think this NFDA […]
October 24, 2022
Published by 
Doug Gober on October 24, 2022
Doug Gober on October 24, 2022We want to continue to provide you with insight and guidance on Pricing. For this month’s column, we spoke with Doug Gober again as he answers more popular pricing questions. Continue reading below as we provide information on competitor pricing. Question: Should I set my prices lower than my competitors to gain market share? Doug Gober: The critical factor when determining your pricing should be how you want to be seen in the marketplace. Since the funeral and cemetery market is segmented, it is a challenge to be all things to all people. It would be in your best interest to focus only on your business and define who you want to be in the marketplace rather than what your competitors are doing. This idea of determining your position is certainly more important than seeing what your competitors in the market […]
October 24, 2022
Published by 
Jarod Bernat on October 24, 2022
Jarod Bernat on October 24, 2022Understanding the value of your business is vital. Not only is it needed if you were considering selling your funeral home or cemetery, but it is also important to know to operate strategically and efficiently. One of the major components in your valuation is the property value. We asked Senior M&A Analyst, Jarod Bernat to further elaborate on this significant element of your business valuation. Question: Why do you value my property at “X” amount in your valuation when surrounding commercial real estate is worth X+100? Jarod Bernat: Real estate values seem like a straightforward topic since it is public record to see the exact sales price of recently sold comparable properties in your market. Thus, it would make sense to think your property would be comparable to those in value. However, this real estate value is decided by the […]
September 29, 2022
Published by 
Stephanie Ramsey on September 29, 2022
Stephanie Ramsey on September 29, 2022Scenario: Troy and Tammy Lexington run Lexington Funeral Home & Cemetery, a generational funeral home/cemetery combo in the southern United States that has served their community for almost 100 years. Currently they serve more than 600 families a year with case count on an upward trend. Troy and Tammy bought the business from Troy’s father and uncle 10 years ago. They are both licensed funeral directors but find a significant portion of their time is spent managing the business. However, they still roll up their shirt sleeves to help with daily tasks as needed. Several of their employees were inherited when they purchased the business and have many years of experience in the funeral industry in various positions throughout the operation. Their business has grown steadily over the years, leading them to increase their staff. A few of the “original” […]
September 28, 2022
Published by Dan Isard on September 28, 2022
Dan Isard on September 28, 2022As this column has been memorializing the key points of knowledge I have acquired and want to pass on to you, here’s another to remember: Nothing prevents problems better than writing things down. I have found that many life-changing matters can occur when business owners, employees or both go on nothing more than a handshake and their memory. President Ronald Reagan summed it up when he repeated an old Russian proverb: “Trust but verify.” Now, I am not an attorney, so I am not giving legal advice here. I have been a business owner for 40 years, however, as well as an employer, expert witness in more than 100 cases and one who has paid for a few points of litigation, so I have learned a few things about the law. In my experience, I tend to see funeral directors […]
September 28, 2022
Published by Jarod Bernat on September 28, 2022
Jarod Bernat on September 28, 2022At this point, funeral home owners and cemetery operators should have their 2023 strategic business plan near completion. One of the important elements in your plan is your targets and expectations for the coming year. We understand that this can be complicated due to the lingering impact that the pandemic has had on our businesses. We asked Senior M&A Analyst, Jarod Bernat to further elaborate on whether these areas need major adjustments. Question: How do I adjust my targets and expectations coming out of the pandemic? Jarod Bernat: This question has many different variables affecting how one may have seen the pandemic affect their business, and how they can expect the business to change again coming out of the pandemic. What we have seen with our clients at Foresight is that due to gathering restrictions during the height of the […]
August 25, 2022
Published by 
Jared Tanke on August 25, 2022
Jared Tanke on August 25, 2022With just a few months left in the year, it is vital as funeral home owners and cemetery operators to have a strategic plan in place for the upcoming year. We understand that this can be complex and needs a high level of detail. Many often are challenged with understanding the true value of their business. We asked Senior Business Analyst, Jared Tanke to further elaborate on the importance of knowing your business value. Question: What is something your clients struggle with? Jared Tanke: Understanding value is one of the things that some of our clients struggle with as business owners. There are a lot of moving pieces that go into the value of a business operation. Often we hear from a client that a competing funeral home sold for some very high price, and they believe that their business […]
August 25, 2022
Published by 
Chris Cruger on August 25, 2022
Chris Cruger on August 25, 2022Top challenges facing those who lead the team and how to deal with them. One thing nobody impressed upon you when you were chosen for a position of leadership is the importance of simply showing up – to be there to handle situations with integrity, confidence and a balanced head; to be the guiding light; to be present; to be there when you’re needed, whenever that might be. Another thing no one told you was that you are supposed to have all the answers. Actually, that’s not true, but it isn’t far off. As the profession moves into this post-pandemic era, there is greater need for quality leaders today than ever before, which also means there is tremendous opportunity for young professionals today. Whether that journey leads to working for someone else or for yourself, success will likely require you […]