February 27, 2025
Published by 
Axel Jean-Francois on February 27, 2025
Axel Jean-Francois on February 27, 2025Let’s cut to the chase: Ignoring the Fed right now is like pretending it’s still 2019—and that’s a fast track to trouble. Interest rates are higher than they’ve been in 23 years, inflation is cooling off slower than we’d like, and your staff could bail for better hours at Amazon if you blink wrong. Sound dramatic? Maybe. But for funeral home owners, it’s the new normal. A Quick Reality Check: Ryan’s Dilemma Take Ryan in Louisiana. Back when COVID-19 cases were sky-high and interest rates were rock-bottom, he invested in a beautiful new facility to better serve his community. Fast-forward to 2025: calls have dropped from the pandemic levels, and his adjustable loan rate keeps inching up. Now that once-profitable expansion is weighing him down—monthly payments ballooned, and Ryan’s scraping for every dollar just to break even. That’s exactly why […]
January 28, 2025
Published by 
Jarod Bernat on January 28, 2025
Jarod Bernat on January 28, 2025It is hard to overstate how monumentally important selling a business is to a business owner. In most cases, 80% of a business owner’s entire net worth rests solely within the business itself. And other than selling a home, this is likely the largest liquidity event of a business owner’s life. These financial implications, along with the multitude of other factors that go into deciding to eventually sell a business, make it easy to understand why business owners seek expert guidance to help them navigate these situations. But most importantly, it is crucial to keep all your advisors on the same page so they can collaboratively guide you towards the best possible outcome. A couple of years ago, Foresight experienced a situation where a funeral home owner consulted multiple experts to assist with the sale of their business. However, since […]
January 28, 2025
Published by 
Matt Blackwell on January 28, 2025
Matt Blackwell on January 28, 2025Selling a business is both a significant milestone and a complex endeavor. One recent case involved the sale of a family-owned business and offered valuable insights for owners preparing to sell. The challenges faced during this process revealed three crucial lessons every business owner should keep in mind to achieve a successful transaction. Establish Clear and Realistic Expectations One of the biggest hurdles in this case stemmed from unrealistic expectations about the business’s value. The owners’ valuation, heavily influenced by external comparisons, far exceeded what the market deemed reasonable. This misalignment led to initial frustration and delays in negotiations. What Owners Can Learn: Understanding the factors that influence a business’s valuation is critical. Relying on sentimental value or unsubstantiated comparisons can lead to disappointment. Instead, work with experts to gain a realistic perspective grounded in market trends, operational metrics, and […]
January 28, 2025
Published by 
Taylor Weber on January 28, 2025
Taylor Weber on January 28, 2025As we step into 2025, funeral home owners should focus on proactive adaptation rather than just market monitoring. Last year, we emphasized the importance of tracking market share to understand where your business stands. This year, it’s about using that data to make strategic moves. Here’s a focused checklist to help position your funeral home for success. Your 2025 Readiness Checklist Strengthen Financial Health Optimize your budget by going beyond a basic budget—review your cash flow plan, pricing strategy, and cost structure that align with rising expenses and market shifts. Strategic pricing adjustments ensure your pricing aligns with market trends and your profitability goals, especially if service costs are increasing. Strengthen your cash flow by actively reviewing outstanding balances and enforcing clear payment policies to reduce receivables. Enhance Family Experience & Service Personalization Families expect more personalized services. Focus on […]
January 28, 2025
Published by 
Nicole Vullo on January 28, 2025
Nicole Vullo on January 28, 2025Written by the Team at Family Shield Credit As many funeral home owners and directors would agree, sometimes it can be hard to talk about payment with families during an arrangement. Because of this, funeral homes often times will perform a service and then look to collect payment afterwards. Next things next, your accounts receivables start to pile up and now you are spending more time on collections than you are focused on running your business and meeting with families. If this sounds like a familiar problem, it might be time to look for another solution to help. Family Shield Credit has made strides to address this very problem, and while they have only been around for just 3 years, they have already helped over 500 funeral homes across 24 states. By offering affordable loan options to families ranging from […]