Funeral Home and Cemetery Strategic Performance Analysis
Funeral Home and Cemetery Strategic Performance Analysis
How much does it cost you to turn your lights on every day? Foresight’s Strategic Performance Analysis is our time-tested tool for confirming our clients are on track for business success. Our analysis presents you with the Key Performance Indicators and financial drivers measuring the overall strength of your funeral or cemetery business. Each quarter we provide a thorough review into empirical data that result from your business operations. Foresight’s analysis will reveal the strengths and weaknesses of your funeral home or cemetery. Based on our findings, we then recommend strategic solutions to secure the financial strength of your enterprise. Our Strategic Performance Analysis provides our clients with timely information and consultation to make confident business decisions.
We advise our clients with both insight and foresight on strategies to improve their profitability, grow their business and ensure a brighter future.
Why Does My Business Need a Strategic Performance Analysis?
A performance analysis is defined as a thorough evaluation of how a business has operated over a specific time. The goal of your performance analysis is to track your progress by analyzing revenue, evaluating various KPIs and examining the progress on business goals. It is vital to interpret this data by measuring any differences from your projected targets and then understanding how this qualitatively occurred. A performance analysis also measures your performance in the perspective of the current market and consumer behaviors. Using this important information and data will help you to decide what changes need to be made, what should we continue to do and helps plan for the future.
Why Choose Foresight for A Strategic Performance Analysis?
A Strategic Performance Analysis is a vital part of monitoring the growth and progress of any business especially a funeral home or cemetery. This involves measuring the actual performance of your business against your goals and targets. Regularly checking in on your business performance also protects you against any financial or organizational problems.
A detailed review of the company’s operations on a quarterly or annual basis becomes increasingly important as it will reveal answers to the following:
- What are my business goals and objectives?
- Is my business performing well enough to my expectations?
- Are we getting a significant Return on Investment?
- Is my business using all available market opportunities?
- Does our business plan need to be revised and updated?
- Are we operating in alignment with organizational goals?
- Is my business ready to elevate to the next level?
Strategic Performance Analysis Services
- Budget: We review the historical operation of your business and partner with you to anticipate your future. We prepare a budget of anticipated Revenue, Cost of Goods and Overhead. The Foresight team will monitor your performance throughout the year against your budget.
- Pricing Review: Foresight will review your current GPL and make comprehensive pricing recommendations for your business. This review includes a proposed pricing recommendation for merchandise mark-up and service fee. We make package pricing recommendations when appropriate. Your Financial Analyst will work with you to produce a GPL that is accurate and attractive for consumers.
- Business Analysis (Valuation): Foresight will produce an annual valuation of your company as of the most recent fiscal year end. This will identify factors driving value and limiting value. We include a management summary report for your review and present our conclusions.
Our quarterly review identifies where you stand relative to budget and the necessary actions required to keep you on the right track. We discuss your results and options. The report can include analysis by location, on a consolidated basis or both. Our quarterly review uses a working budget to provide a detailed performance analysis.
This business review will be presented using quarterly financial data and provides over 90 data points including:
- Revenue Per Call measurement and analysis
- Cashflow analysis
- Payroll and headcount analysis including employee and owner compensation breakdown
- COGS and Merchandising analysis
- Balance Sheet criteria including Cash, Receivables, Debt management
- Preneed examination
- Comparisons and measurements from including regional and national business averages
- Profit distributions measured several different ways
- Identify areas of staff training for greater productivity and profitability
- Personal compensation
- Profit distributions
- Rent distributions
When reviewing your business performance is it also pertinent to assess your customer base and market positioning as a key factor to your business success. You need to consider updating your marketing plan just as often as your strategic business plan. Conducting a market analysis will allow you to answer the following Once you have this information, ask yourself these three questions:
- Where does my business currently stand?
- Where is by business striving to go?
- How are we going to get it to its goals and targets?
To help with answering these questions, Foresight will provide you with comprehensive digital KPIs. Digital KPI analysis includes quarterly reviews of your business online presence focused on local search ranking performance, Search Engine Optimization issues, online reputation scores and online directory presence.
Specifically, Foresight’s Digital KPI Analysis focuses on the following:
- Local Search Ranking Performance
- How well is your business ranking for true-shopper Internet searches in your area?
- Search Engine Optimization Issues
- Suggestions to improve Google, Yahoo!, and Bing ranking.
- Online Reputation Scores
- What are consumers saying about your business?
- Uncover any low review scores that need attention
- Online Directory Presence
- Review online business listings to ensure information is accurate and not missing important contact information
Foresight’s Strategic Performance Analysis will determine if your business is performing at targeted rates to attain your strategic and financial goals. Let’s have a conversation about your Strategic Performance Analysis Plan. Contact use today to discover the Foresight Difference.
“Partnering with Foresight and their strategic performance analysis service gives me the functionality and brain trust to have in-house as a small family-owned business. It’s what gives us the edge to be competitive in the ever-evolving funeral landscape.”