January 25, 2023
Published by 
Chris Cruger on January 25, 2023
Chris Cruger on January 25, 2023So 2023 is here. The question is what do we do now? The last few years have seen changes in our profession like never before. What used to take years to change, now takes months or weeks. The process of planning for the future is more important now than ever. We have seen incredible challenges in staffing, rising costs, and rapidly changing consumer attitudes. If there is anything to be learned over the past few years, it’s that the business is different today than it was three years ago. You all have seen it; the way we conduct business has simply changed. The pandemic ushered in a new era of funeral service that requires us to plan and adjust quicker than ever before. Some leaders in our profession have been resistant to change; but operating “the way it’s always been” […]
January 23, 2023
Published by 
Dan Isard on January 23, 2023
Dan Isard on January 23, 2023The first funeral home profit and loss statement I ever saw showed that the firm had spent $30,000 on “escort services.” Back then, my immediate, uninformed reactions were, “That’s not deductible!” and “What a pervert!” I have grown smarter in the past 40 years, and my goal now is to leave this profession smarter and better prepared for the future than it was when I first encountered it in 1985. On New Year’s Eve, as we toast to auld lang syne, we often promise to all within earshot our forthcoming resolutions to do better. Thus, we might promise to lose weight, be a more caring spouse, not curse as much and other superficial things. On New Year’s morning, however, while eating our third doughnut, defending ourselves from the criticism of our spouse for eating three doughnuts and cursing the jelly […]
January 23, 2023
Published by Dan Isard on January 23, 2023
Dan Isard on January 23, 2023…and How to Beat Them at Their Own Game “Those who cannot remember the past are condemned to repeat it.” – George Santayana It was in the early 1980s the Federal Trade Commission started to investigate the way funeral homes charged for their services. Back then – more than two generations ago – when a death occurred, the consumer purchased the casket and vault and received all the other services of the funeral home. This included the removal of the body, arrangement planning, preparation of the body, livery of the deceased body and the family as well as the use of the funeral home for a gathering or the funeral home would bring the body to the place of worship for a visitation and/or service. Ultimately, the funeral home brought the casketed body to the cemetery for interment. You got […]
January 23, 2023
Published by 
Curtis Rostad on January 23, 2023
Curtis Rostad on January 23, 2023Have you wondered whether you need to pay employees while they are “on-call” for your funeral or cemetery business? This is a common question we have received when having this type of employee on your staff. Curtis Rostad provides his insights to this important question below. Question: Do I have to pay my employees to be “on call?” Curtis Rostad: In thirty-four states* most employees, including licensed funeral directors, must be paid hourly with overtime for work over 40 hours per week. That makes the “on-call” question especially important. The Wage and Hour Division uses two principles in addressing this issue. The first is “engaged to wait.” The employee is not performing duties, but they are unable to use the time effectively for his or her own purpose. For instance, if they must remain in the building to answer the […]
December 20, 2022
Published by 
Taylor Weber on December 20, 2022
Taylor Weber on December 20, 2022Have you ever wondered why your Gross Profit Margin has such importance when analyzing the strength and performance of your funeral or cemetery business? It is a question that we receive quite often when working with our clients. Our Financial Analyst, Taylor Weber provides informative insights on this important element of your business analysis. Question: Why is Gross Profit Margin important when Foresight performs their Strategic Performance Analysis for my business? Taylor Weber: The Gross Profit Margin is one of the most significant measures for determining your business’s profitability and financial performance. Gross Profit Margin is defined as “a metric that analysts utilize to measure financial health by calculating the amount of money left over from total sales (or revenue) after subtracting the cost of goods sold (COGS) that is sometimes expressed as a percentage of total sales/revenue.” The general […]