December 19, 2022
Published by 
John McQueen on December 19, 2022
John McQueen on December 19, 2022To Avoid Some ‘Ruff’ Times, Follow the 4 Ps of Pet Loss We have all heard of the many inspiring rags to riches stories from Dolly Parton to Halle Berry, Ed Sheeran, Leonardo DiCaprio, Oprah Winfrey, and so many others. Of course, these are just the high-profile stories of the now rich and famous, but the world has so many others who have achieved great success from less than humble beginnings. But this is a different kind of story. This is a “Wags to Riches” story and it’s just waiting for you to finish writing the ending. However, like rags to riches, the development of a pet cremation and/or pet burial business can see some “ruff” times, especially in the early years. Therefore, to be successful, it is crucial that you follow the “4 Ps” of pet loss: Purpose, Planning, […]
December 19, 2022
Published by 
Gabriel Ngo on December 19, 2022
Gabriel Ngo on December 19, 2022Scenario: Laura Laney is a third-generation owner-operator of Laney Funeral Home & Crematory in mid-Eastern Texas. Her family’s business has seen its share of trials and tribulations but has weathered them all and continues to thrive and grow. Laura’s business is just close enough to the Dallas-Fort Worth metroplex to benefit from the bustling growth yet far enough away to have experienced a comparatively slower rise in cremation rates – which has allowed Laura (and her father, Lynn, before her) to educate the community and families she serves on the value and importance of services and gatherings being no different than burial when families select cremation as an option. Throughout COVID, Laney Funeral Home & Crematory found legal ways around restrictions in order to provide full burial and cremation services to appreciative families as often as they could. Over the […]
December 19, 2022
Published by 
Dan Isard on December 19, 2022
Dan Isard on December 19, 2022As a new business owner, the first decisions you must make involve taxes. In most cases, however, you will feel so elated during your first days of ownership that you’ll just abdicate those decisions to your accountant and/or lawyer. Then, someday in the future, you will read an article, like this one, and wonder to yourself, “Hmm…” You therefore clip the article and send it to your accountant and/or lawyer. They, in turn, give you a long-winded explanation as to why the author of that article is wrong. Or, worse, they will write to the author and tell him why he is wrong. Please, save your breath and your typing fingers. I am not wrong. Here are the taxation basics you need to know. Decision One: Business Entity There are several ways businesses can be classified for tax purposes. The […]
November 21, 2022
Published by Gabriel Ngo on November 21, 2022
Gabriel Ngo on November 21, 2022Pricing is always a hot topic. When it comes to vendors setting pricing for items such as caskets, do you have to accept their price structure, or can you make changes as you see fit? Gabe Ngo provides his insights on this important topic. Question: Do I have to accept the prices the casket vendor set? Gabe Ngo: The short answer is no, you do not have to accept the casket vendor’s pricing they set. There are so very many angles in answering this question, but I will keep it grounded and simple. Often times historically, owner-operators have not always made pricing changes to reflect the “October 1st” pricing changes that have typically come from Batesville or Matthews annually. However, over the past fifteen to eighteen months or so, funeral home owner-operators have seen a variety of “temporary surcharges” (which […]
November 21, 2022
Published by 
Jared Tanke on November 21, 2022
Jared Tanke on November 21, 2022Have you ever wondered what to do if your property/real estate value is worth more than the actual value of your business? This is actually a common occurrence and a question we are often asked to provide guidance on. Our Senior M&A Analyst, Jared Tanke is back to provide informative insights and various scenarios. Question: What should I do if my property/real estate is worth more than the value of my business? Jared Tanke: I have heard this question much more frequently over the past few years as property values have appreciated at an exponential rate, and it’s a fair question. In last month’s Ask the Analyst, Jarod Bernat answered the question about the difference between valuing real estate as “highest and best use” and “Special-use” which goes hand in hand with this month’s question. There are a few different […]