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 […]