theforesight

Scenario: Paul Gibson, age 63, was the owner and operator of Gibson Funeral Home, a small-town funeral home in a micropolitan area of the Midwest. Paul had built a reputation over decades as a dependable figure in his community, serving approximately 140 families per year. With a lean operation staffed by only himself and another funeral director (also nearing retirement and uninterested in ownership), Paul found himself at a crossroads. After decades of running the funeral home, Paul was ready to retire. He had a two-year horizon before he planned to fully step away and become eligible for Medicare. Willing to consult for a buyer during that transition, Paul envisioned exiting the business gracefully. In 2023, he put the business on the market hoping to achieve a $3 million sale price, a figure based on inflated financials during the COVID-19 […]