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Written by Foresight’s Business Unit of Stephanie Ramsey and Axel Jean-Francois Running a successful funeral home involves understanding where your business stands in the profession. At Foresight, we help funeral home owners gain valuable insights into their business’s financial health by analyzing trends and averages. But what does this mean for you, and how can it benefit your business? This post offers some practical tips on how comparing your business’s financial results to funeral and cemetery profession averages can help you make informed decisions—without needing a background in finance. Why Data is Important As a funeral home owner, you might not think daily about comparing your numbers to others in the profession. But knowing where your business stands is essential for long-term success. At Foresight, we use data to create benchmarks—standard points of comparison—that help you see how your costs, […]

In today’s fast-paced, digital world, businesses across industries must adapt to stay competitive, and funeral service providers are no exception. With changing consumer behavior, it’s clear that clients are not going back to traditional ways. The shift in consumer preferences means business owners must meet their clients where they are. Those that don’t adapt will lose out. Fortunately, there are modern marketing strategies that can help funeral businesses stay relevant and competitive. Personalized Marketing Consumers expect personalized interactions. For funeral service providers, this means creating tailored services and communications that resonate during difficult times. Use segmented email campaigns to address specific client needs, and customize content that speaks directly to various audiences, such as families experiencing recent loss or those planning for the future. Search Engine Optimization (SEO) SEO remains critical for visibility. Optimize your website for local searches and […]

Written by Foresight’s Business Unit of Jared Tanke and Matt Blackwell You may have been approached in the past about purchasing a competing funeral home, or maybe you have actively approached some of your competitors about purchasing their firm so you can grow your market share. One way or another, you have probably heard something about Mergers and Acquisitions (M&A). It’s true that acquisitions can be a great way to grow your business, but you should understand the risks associated with them. Alarmingly, studies show that between 70% and 90% of acquisitions fail to deliver the anticipated value. Despite these statistics, M&A activity continues to rise, fueled by the demand for growth amidst sluggish organic expansion. Understanding the inherent risks associated with these transactions is essential for navigating these challenges effectively. Overpaying Overpaying for an acquisition is one of the […]