June 26, 2022
Published by 
Nick Padlo on June 26, 2022
Nick Padlo on June 26, 2022How to Maximize the Three Major Business Life Events As people, we all go through various life events that can shape the course of how we live our lives in the present and what that will mean for our legacies in the future. These can range from what college you go to, the profession you choose for your career, all the way to where you decide to live and raise a family. Funeral home and cemetery owners go through various life events as well, but the common three that shape and define legacies are: how/when you decide to become an owner, how you decide to own and operate your business financially, and ultimately how you plan the succession/sale of your business. As a funeral business owner, it is important to align yourself with tailored companies who understand the opportunities and […]
June 26, 2022
Published by 
Dan Isard on June 26, 2022
Dan Isard on June 26, 2022The single largest cost of running a funeral home comprises salaries, benefits and employment taxes. Together, they make up employee compensation. In the 1980s, when some casket companies spent $250,000 on their NFDA booth build-out and another million dollars on an extravagant cocktail party during the convention, the cost of goods was about 20% to 25% of revenue while compensation typically ranged from 26% to 40%. Yep, you could eat and drink for free in those days thanks to the casket companies, but the people paid to run the businesses were getting the bulk of the revenue! As noted above, compensation consists of three key components: Salaries This includes those you employ, full and part time, licensed or non-licensed, as well as any third parties you pay to supplement your staff for removals and body prep. It also includes the […]
June 26, 2022
Published by 
Nicole Vullo on June 26, 2022
Nicole Vullo on June 26, 2022Planning for the succession of your funeral home or cemetery business is one of the hottest topics within our profession. It is a process that takes time and dedication to complete. We were recently asked about the process and if it is something that requires a business consultant. John T. McQueen, CFSP uses his own experience to provide insight on this important question. Question: Do I need a business consultant to help with my succession plan? John T. McQueen, CFSP: At a point in your career, you will find yourself in a unique position, caught between sense of duty and sense of family. You have spent a lifetime serving others and building or continuing your family’s legacy in funeral service. It has been a tiresome job at times, yet it has also been the most rewarding when the family hugs […]
May 31, 2022
Published by Nicole Vullo on May 31, 2022
Nicole Vullo on May 31, 2022Have you wondered what is the most important elements of your funeral business marketing plan? Google, Social Media, and your website are some of the elements that come to mind. Continue reading below as I provide my insights to this important question below. Question: Part of my 2022 goals for my business is to improve on the marketing activities of our funeral home. What is one thing we should work on first to improve our marketing plans? Nicole Vullo: To me, there is not better time to improve on your marketing efforts than this very moment. In our 2022 Funeral and Cemetery Consumer Behavior Study, one of the finding we discovered is that consumers are relying heavily on your website to make their decisions as to whether to use your business for their needs. In fact, 70% of consumers want […]
May 31, 2022
Published by 
Foresight on May 31, 2022
Foresight on May 31, 20222022 Funeral and Cemetery Consumer Behavior Study Insights Summary DOWNLOAD NOW In what was undeniably the most transformative time in generations, The Foresight Companies conducted annual consumer studies to connect data behind the speculative trends about how COVID-19 will impact the funeral and cemetery profession, both in the short-term and the long-term. With these new trends becoming permanent, how do we embrace and implement these changes that are vital to your future business success. We encourage you to download our Insights Summary on the results of our 2022 Funeral & Cemetery Consumer Behavior Study. It highlights the evolving consumer attitudes towards the funeral and cemetery market and the ways operators need to adapt. The future of funeral service is here, and we must pivot our business model to answer the needs and demands of the consumer.