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Funeral Home Business Plan

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Evergreen Life Memorial Center

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Ceremonial practices around death, as practiced by U.S. funeral homes, are leaving a growing segment of the population feeling poorly served. This plan outlines the strategy by which the Evergreen Life Memorial Center (the Center) will define and dominate a new category of funeral provider in AnyCounty, Oregon. It also details how the financing it acquires will be used toward this end.

The Center will be formed as an LLC in the Anytown metropolitan area. It will be solely owned by Stan Peters, an experienced funeral home director and embalmer, active in nonprofit and community activities.

Establishment of the Evergreen Life Memorial Center will provide Anytown and the surrounding area with a way for people to celebrate the life of the individual when it ends and for the living to gather social support to bring closure and move ahead with their lives. Its cornerstone will be the use of a reception area for social gatherings after the funeral that will foster human connection and uplifting remembrance. This is the way the aging segment of Baby Boomers is showing it prefers. This facility will also be the basis of its strategy of community involvement to rapidly develop the reputation the Center needs to attract business in a way that benefits the charities it supports as well. Digitized photos will be used for the reception as well as on our website to extend the celebration of the individual’s life beyond the funeral.

Based on recent average prices nationwide, the Center has the potential of attaining its market share of $768,213 within four years. At the Center’s current prices, its market share is worth $841,412. The industry average gross margin for a funeral home is 62.5 percent. The funding of $225,000 requested in this plan is projected to result in an annual net profit of approximately $194,000 in the Center’s fourth year of operation, with subsequent increases annually due to inflation.

With the establishment of the Evergreen Life Memorial Center, those who lose someone to death will for the first time in our era be integrated into the community of life instead of stigmatized and marginalized. There will be a new center for community involvement. And for the first time, the Boomer generation will be able to go out the way it lived.

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1.1 Objectives

The Evergreen Life Memorial Center provides celebration of an individual’s life and social support to bring closure and move ahead with living. The Center will develop by Year 4, a reputation as the uplifting place for locally prominent persons of the Baby Boom generation to celebrate their lives when they end.

In order to achieve this, the Center will create facilities that bring families and communities together in a way that celebrates the life of the deceased and renews bonds of social support.

Digitized photos and films of the deceased will be available in the reception room and on our website.

These facilities will be available free to a number of nonprofit organizations in which the owner, Stan Peters, will be involved. This will:

Tie the Center into the community of the living and develop positive associations.
Develop a strong reputation by creating community events in the Center which the local media will want to publicize.
Serve the owner’s interest in helping others and improving the community.

Stan Peters will make himself available for a leadership position starting a local chapter of a nonprofit that helps children with life-threatening diseases, such as the Make-A-Wish Foundation.

The Center will provide a funeral planning guide for estate attorneys to give to their clients.

These efforts will be supported by a publicity campaign in order to be the first in people’s minds with this new category of funeral provider. Evergreen Life Memorial Center, “People remembering people.”

1.2 Mission

The mission of the Evergreen Life Memorial Center is to bring people together to celebrate life when it ends and to move on with living. The Center will have facilities that bring families and communities together to remember the life of the deceased and renew bonds of social support. The Center’s facilities will be a focus of nonprofit energies to make the community a better place to live.

1.3 Keys to Success

Since 71 percent of people choose a funeral home on the basis of reputation, the key to success is quickly establishing a reputation for this new category as the uplifting place for Baby Boomers to celebrate life when they die.

The Center’s cornerstone will be its reception facilities, which will promote uplifting interactions with people after the funeral and be used for nonprofit organizations. This will make the Center uplifting, connect it to the community, provide the basis for publicity, and make it a center for the living.

The reception room and website will feature digital photos and films of the persons whose lives are being celebrated. This web presence will increase the Center’s exposure by letting people participate in the celebration of life after the funeral and reception are over.

Providing the greatest choice of quality caskets will make the Center the place to celebrate the lives of locally prominent persons. This will foster publicity and further promote our reputation.

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Evergreen Life Memorial Center will be a new type of funeral home provider. It will provide a celebration of life when an individual dies and gather social support for the living to bring closure and move on. This will be made possible by providing reception facilities after the funeral where people can gather for refreshments in an uplifting environment surrounded by digitized photos and films of the life being celebrated. The facilities will include intimate gathering areas for people who want to break off from the larger activities, and private meeting rooms with couches and chairs. These facilities will also be available for the use of nonprofits, further integrating the Center into the community.

This combination of life celebration and social support is the way people of the Baby Boom generation are demonstrating they want to go out. Boomers are currently directly involved in making choices about their parents’ funerals, and are in the leading edge of a demographic bulge that is beginning to experience more funerals itself. Funerals for Boomers are expected to increase dramatically until the annual number of funerals by 2040 will nearly double from its current levels.

The Center will be located in a former church building in central Eugene or in a small community closely adjoined to Eugene and unserved by funeral homes. The ideal facility will contain evergreen trees, helping the Center to live up to its name.

2.1 Company Ownership

Evergreen Life Memorial Center will be a limited liability company (LLC) owned entirely by Stan Peters. Stan Peters is a professional funeral director and embalmer with 10 years experience and a B.S. in funeral science. He chose funeral science because he was interested in the biological sciences and wanted to make a difference to people in time of need. He has been active in a number of nonprofit organizations, including a California chapter of the Make-A-Wish Foundation.

2.2 Start-up Summary

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The assets to be purchased with this funding include $27,000 of current assets and $80,000 of long-term assets.

Current assets are in the form of $20,000 for display caskets and a $7,000 for display urns, as well as embalming chemicals and supplies.

Long-term capital outlays for which funding is sought are:

A church structure will be sought for purchase in the Anytown area for an estimated price of $400,000. A down payment of $80,000 will be financed directly by the owner’s family and is not included in this business plan. Mortgage payments are included as operating expenses.

Detailed start-up expenses are included in the following table and chart.

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Products and Services

Evergreen Life Memorial Center is a place to celebrate the life of the departed and to bolster support systems for those who must live without them. The Center will provide services that are demanded by the Baby Boom generation who wants to celebrate the life of the individual together, rather than endure a morbid and stilted experience. In order to accomplish this, the Center will offer facilities and services that are for the living and for the community, not marginalized from it.

The Center’s cornerstone product will be use of the Reception Facility. Funerals bring people together who haven’t seen each other in years, even decades. In traditional services, people meet for a few hours and then they’re gone. The Center will capture the opportunity to bring people together, to celebrate life and to re-form the lines of support for those who live. To accomplish this, the Center will offer:

A reception hall where meals and refreshments may be catered.
Electronic presentation and projection of photos and films of the deceased, also available on our website.
Soft background music selected by the family, if requested.
Discreet areas where small groups may form for intimate discussions.
Two rooms with couches and chairs for private meetings.
A children’s playroom, supervised if requested.
Easy wheelchair accessibility.

Use of the Chapel for funeral services.

Professional Services of the Director and staff. There will be one person who will guide the family through the entire process.

Caskets and Urns. The Center will offer the largest selection of caskets and urns of any funeral home in the area. Large funeral homes usually have corporate agreements with one of the top three casket companies: Batesville, York or Aurora. Many other funeral homes are given incentives to sell only one line of casket, although federal law prohibits funeral homes from not accepting any casket the customer wants. The Center will offer the complete line of Batesville and York caskets, for people who want the industry standard caskets. Batesville alone accounts for 45 percent of caskets sold in the U.S. To differentiate the Center and to bolster its market position as the place for people who want a different kind of funeral, the Center will supplement its offerings with caskets more interesting and diverse than the mass-produced caskets generally offered, including:

Legacy Custom Caskets. These are handcrafted caskets made with the finest materials that give an impressive appearance, for those funerals where only the best will do.
Cowboy’s Last Ride. Generally an unfinished, pine casket with a denim or horse blanket liner. “A fitting end for someone who spent his life caring for God’s creatures and land.”
Specialized metal and fiberglass caskets with emblems painted on the inside for people belonging to firefighting, police, military and fraternal organizations.
Other specialty caskets with unique features that emphasize the individuality of the deceased.
A selection of low-cost caskets by independent providers.

Remembrance Products, including paper and electronic products to celebrate the life of the deceased. Digital photographs and films will be used during the reception and posted on our website, if desired.

Transportation, including use of hearse. Limousines will be contracted, if desired.

Refrigeration is required for viewing of the body beyond 72 hours after death if there is no embalming. With the growing demand for cremation and increasing environmental sensitivity about the chemicals involved in embalming, we expect a greater use of refrigeration in the future.

Embalming services. Embalming has been a traditionally assumed service, but consumers are mandated by federal law to be advised that it’s not required, except in certain rare cases. Embalming allowed funerals with viewing to take place more than 72 hours after death without noticeable decomposition. It is still the industry standard, and will be available at the Center.

Cremation services. Cremation services are the fastest growing segment of the death care industry.

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Defining who the customer is for a funeral home is complicated. Relatively few people pre-arrange their funerals while they’re alive, leaving most of the decisions to surviving family members. This becomes a complicated decision made by the person’s surviving spouse, if there is one, and the children of the deceased over the age of 30.

We have segmented the market in terms of the four generations that are over age 30 who form the active decision-making market. The four generations are the GI Generation (age 79 or older as of 2003), the Silent Generation (age 58 to 78), the Baby Boomers (age 39-57) and the portion of Generation X (age 23-38) that is over 30.

A new funeral home that was like all the others could not compete effectively for the most active market, the Silent Generation, against the reputations of long-established funeral homes in the area. The Center will be the first to appeal specifically to the tastes of the huge Baby Boom Generation for funerals that are about celebrating life rather than feeling morbid about death.

Targeting this market with this unique offering will not only attract Baby Boomers for their own funerals and those that they choose for their parents, it will also attract a significant percentage of the Silent Generation that has shown a propensity to spend money on itself and that likes to think young. It will further poise the Center for tremendous growth as the mortality rate of Boomers increases over the next 35 years.

4.1 Market Segmentation

The market is divided according to those who make the purchasing decisions regarding funerals. The market segments for the Center are divided by the generations of decision-makers over age 30.

The GI Generation (born 1901-1924) This generation is age 79 or older as of 2003. This is the most active market. Its mortality rate is about 12 percent per year but it makes up only 3.9 percent of Lane County. Because the rate of dementia is high among this group, if funeral arrangements haven’t been pre-arranged, it’s likely their Baby Boomer children are making the arrangements.
The Silent Generation (born 1925-1945). This is the age segment probably most marketed by existing funeral homes. It’s mortality rate is 2 percent per year, and it’s the generation that generally has the most money. It has been called the Silent Generation because it was sandwiched between the heroic GI Generation that fought World War II (now sometimes called “The Greatest Generation,” and the explosive Baby Boom Generation (also called the “Me Generation”). Many of the Silent Generation have been strongly influenced by the cultural revolution of the Baby Boom Generation. Widows are 67 percent of surviving spouses in this age group because their husbands generally die first. This relatively wealthy generation has always been financially conservative, but at this point, is more willing to splurge. It is currently driving the high-end motorhome market. This generation is 58 to 78 as of 2003 and composes 15.9 percent of the local population.
Boomers (The post World War II “baby boom generation” born 1946 through 1964.) Members of this generation are increasingly involved in funeral decisions as their parents, spouses or children die. This age cohort is currently age 39-57, as of 2003, and comprises 27.2 percent of the Eugene-Springfield MSA, and over half of the demographic that makes funeral decisions. This is nearly twice the number of the Silent Generation cohort. Its mortality rate is currently only 0.3 percent, but is poised to grow rapidly over the next 35 years. It also makes many of the decisions for older and younger cohorts.
Generation X (1965-1980) This is the youngest cohort to make funeral decisions, with only members of this generation age 30 or older included as a market segment. Generation X members over the age of 30 comprise only 7.9 percent of Lane County, its mortality rate is low and it probably has the least input into the decisions about funerals. This generation challenges authority, is environmentally and socially concerned and watches its health. It’s more interested in quality time and peace of mind than in materialism. The members of this cohort age 30 to 38 makes up 7.5 percent of the MSA.

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4.2 Target Market Segment Strategy

The target market for the Center is the Baby Boom generation. It comprises over 50 percent of those of age to make funeral decisions in Lane County. The Silent Generation, for which more traditional funeral homes are competing, comprises 29 percent of the funeral decision makers. The GI Generation is over age 79 and its decisions are likely to be made by younger generations, including Boomers.

Baby Boomers, children of the post-war Baby Boom born 1946 through 1964, have changed business and culture from the time they were born. First the diaper business enjoyed the boom, then schools were rapidly built for them. In the years 1976 to 1980, the price of homes began to dramatically increase as this age cohort began to turn 30 and settled down. Now in middle age, Boomers are increasingly involved in making funeral choices for their elderly parents. As this generation approaches age 60, it is expected to dramatically increase the number of deaths over the next 35 years.

While the Baby Boom generation has been a boon for many businesses because of its numbers, it has also changed popular culture. It has been called the “Me generation” because it honors the individual. The trend toward more individualized funerals has already been widely noted in the industry.

The Baby Boom Generation is demonstrating a demand for more individualized funerals with more of a sense of celebration. Our strategy is to target this generation by appealing to its tastes. Just as Pepsi-Cola experienced in the 1960s when it targeted this generation, we believe we’ll draw more people from the Silent Generation who “think young” than we would by being just another traditional funeral home. The Silent Generation is showing a propensity to splurge, and we’ll offer greater opportunity to splurge on their funerals than more traditional providers.

Some 71 percent of people choose a funeral home by reputation. The Center would not be able to compete on the basis of reputation compared to funeral homes that have operated in the area for generations, or those that used to be run by families but have been bought by chains. In order to create a reputation rapidly, the Center will stimulate community involvement that brings people to the reception facility and generates publicity. It will draw the attention of those who want to celebrate life rather than host a morbid proceeding, and will create a new category of funeral provider which it will dominate.

Capturing this market will also put the Center in position for long-term growth as the Baby Boom Generation experiences mortality. The number of U.S. deaths is expected to increase at a rate of 11.3 percent over the first decade of the 21st century, reaching 2,634,000 deaths for the year 2010. The rate of deaths is projected to increase each subsequent decade until it peaks at 18.1 percent growth for the decade ending 2040. In that year, 4.1 million deaths are projected.

4.3 Service Business Analysis

When someone dies, there are relatively few alternatives available to people to take care of the remains and to bring closure.

Funeral homes usually provide the following services:
Funeral service, often with viewing because some people need to see the body to psychologically accept that the individual has died.
Embalming is necessary if the funeral will take place more than 72 hours after death, especially if there is a viewing, unless it is refrigerated.
Preparation of the remains for viewing.
Transportation of the body to the funeral home and to the gravesite.
Funeral products, including caskets, urns and remembrance products.
Immediate burial, performed without a service.
Cremation, with or without a service.
Cremation specialists, offering immediate cremation without a service that’s performed by a funeral director. If a service is desired, it may be performed in a church or other spiritual setting, or even outdoors, with or without clergy.

Some 75 percent of people nationwide choose burials that usually involve the services of a funeral home.

4.3.1 Competition and Buying Patterns

According to a 2002 survey by the National Funeral Directors Association, the most common reason for choosing a funeral home are location (78 percent of respondents), reputation (71 percent) and that it previously served the family (70 percent). Only 36 percent cited price, suggesting that for those who choose funeral services, price sensitivity is relatively moderate. Some 23 percent said they selected the funeral home because it was suggested by a friend, and seven percent by clergy, but only 11 percent said it was from advertising.

The survey underscores why the funeral industry is a very staid and conservative one. Location and reputation are everything for people choosing a funeral home. Some of the most successful funeral homes have been operated by the same family for generations. Some chain operations have bought up such funeral homes and have used the family reputation after it is no longer owned by the family. The power of reputation is such that many people appear unaware of the change of ownership, or their perception is unaffected by it.

In metropolitan Anytown, there are ten funeral homes, serving over two-thirds of the population of Lane County. There are four additional funeral homes serving small communities in the county.

There has been a steady growth in the market for cremation. In 1990, 17 percent of deaths resulted in cremations nationwide, according to the Cremation Association of North America. By 2000, the percentage had grown to 26.6 percent. This reflected a 71 percent increase in the number of cremations. In Anytown there are three providers specializing in immediate cremations

Strategy and Implementation Summary

Being staid and traditional has helped funeral homes in this area that have been in the same family for generations to develop solid reputations. The Center cannot compete on the basis of being just another staid, conservative funeral home. It will succeed by quickly developing a reputation for being unique, offering something that a largest segment of the decision-making market is beginning to demand and that traditional funeral homes are not positioned to provide.

Traditional funeral homes have not been structured to meet the need for social support the living need to move forward and to complete the process of grief by coming to acceptance. The Center will be structured around the need that Baby Boomers are expressing to gather social support and to celebrate life.

5.1 Competitive Edge

The Evergreen Life Memorial Center is the first of a new category of funeral providers in the Anytown area. The Center provides celebration of the individual and social support to bring closure and move ahead with life. It will be the place for the Boomer generation to celebrate life when it ends because it will be more uplifting and social than traditional funeral homes. It will thus live up to its slogan, “People remembering people.”

There are three purposes of a funeral:

Bringing closure . Sociologists and anthropologists note that death rituals such as wakes, funerals and burials are important ways of of acknowledging that death has really occurred. This is necessary so people can move toward completing the grief process by coming to acceptance. According to the Batesville Casket Company, “The funeral is about mental health and healing.”
Social support . Sociologists also say that these rituals help resolve guilt, anger and relationships. It’s common for people to have feelings of regrets for what they did or didn’t do during the deceased individual’s life. For those attending the funeral, and especially for those choosing the kind of funeral to have, it’s the last opportunity to do the right thing for the deceased. The funeral is also a time to gather social support for the survivors. Social support can reduce stress and solve practical problems. When someone dies, it leaves a whole in the fabric of a social system that needs to be filled.
Celebration. While traditionally funerals have been considered somber affairs, people are increasingly demanding more of a sense of celebration for the life of the departed. The funeral is an acknowledgement that the individual is gone, and may have been all that was needed when families lived close together. Since family’s generally live far apart in modern society, a celebration is an opportunity for people who haven’t seen each other in years to interact. It’s a time for people to lightly reflect on the gift that person gave us by being among us. Refreshments lighten the mood and are a way of sharing. Pictures of the deceased help bring out memories and stories. There is laughter as well as tears, sometimes anger, so private spaces to meet in small groups are important.

Traditional funeral homes are somber and morbid places people are afraid to go to. Funeral homes that are staid and conservative will not be preferred by the “Pepsi generation,” which laughed at parodies of such homes in the television series The Munsters. The Center will be a place of celebration actively involved in people’s lives that people will want to go to.

5.2 Marketing Strategy

Because reputation is the key to success of a funeral home, the focus of the Center will be to quickly establish a reputation as the place for celebrating life when it ends in the way baby boomers want to be remembered.

This will be accomplished by hosting nonprofit activities that gather wide publicity. Stan Peters, the owner, will take a leading position in forming a local chapter of an organization like the Make-A-Wish Foundation, which makes dreams come true for children with terminal illnesses. The death of a child is the hardest thing for nearly anyone to take, including funeral directors. The recreation and meeting rooms of the Center will be available for the free use of nonprofit organizations that the owner is personally excited about. A public relations firm will be used to orchestrate the maximum exposure for the Center, its activities and the charities it promotes. This will bring the Center into the life of the community and give it a reputation for caring and for celebrating life.

The choice of location will support this focus. The Center will be sited within the metropolitan area where over two-thirds of the Lane County population lives. The ideal location would be the purchase of a church with a chapel and recreation room, with a stand of Ponderosa pine or Douglas fir in the front and back to bolster its Evergreen brand.

5.3 Sales Strategy

Sales will be accomplished through implementing the sales process and the employment of a full-time sales professional in year three. During the first two years, the sales process will be implemented by the owner who will document procedures and training manuals.

The job of the sales professional will be to:

Prospect and Qualify . The professional sales staff will be directly involved in networking the organization through a sales referral group, the Chamber of Commerce, and active participation in nonprofit causes that he or she is excited about. Pre-need business will be promoted though networking and through speech opportunities. Estate attorneys will be networked as well with a pamphlet we will present, How to Plan a Funeral that Celebrates Life. He or she will be a good listener, honing in on what the prospect really wants, including the price the prospect expects to pay.
Presentation . How to Plan a Funeral that Celebrates Life will be our outside medium for presentation. Inside, the salesperson will begin the presentation by featuring our chapel and reception areas. Showing how the reception area works will be the most important selling point for letting us help celebrate the life of the deceased. The salesperson will make it clear that the Center is not the least expensive funeral home, but the most unique. The Center will have a room for displaying the most interesting collection of caskets in Oregon. Everything from a pine box with denim liner to top-of-the-line, handcrafted, glossy custom caskets suitable for a state funeral. The salesperson will narrow the choices for the prospect down to three, based on what the prospect indicated he or she wants.
Proposal . The salesperson will write up a proposal according to the prospect’s choice that’s within his or her budget. The prospect will already be aware that the Center is not the price leader, and what the reasons are for paying more with us.
Close . The salesperson will give a soft close, gently asking for the business by saying something like, “Why don’t we just do this?”

The sales professional will not be commissioned in order to avoid hard sells, but will be compensated with a base pay that would be considered moderate for salary plus commissions of a good salesperson in this market. In addition, he or she may receive profit sharing based on the overall growth of the business.

5.3.1 Sales Forecast

Sales forecasts are conservatively based on market share projections and the standard business growth curve.

There were 2,859 deaths in the Anytown MSA (closely equivalent to Lane County) in 2004. About 75 percent of deaths result in funerals nationwide. At the average 2003 price of $5,374, this means the funeral market in Lane County is worth $11,523,200.

Since there are currently 14 funeral homes in Lane County, and there will be 15 when the Center opens, the average market share will be $768,213 in 2003 dollars. The average price of funerals at the Center will be a little higher. We project the average funeral at Evergreen Memorial Center will be $5,884, broken down as follows:

Professional Services $1249
Staff $140
Use of Reception Room $495
Use of Chapel $375
Dressing & Grooming $115
Casket $1590
Burial Vault $250
Remembrance Products $330
Transportation $915
Total Avg. Funeral $5884

The average market share measured in the number of funerals per year will be 143 funerals a year. Our total sales for the first year are projected at one-fifth of the average market share, or about 29 funerals at our average funeral price of $5,884. Businesses start slowly and, if they capture a niche, will then grow quickly. The sales projections are based on sales of one funeral for each of the first four months, followed by two funerals a month for two months. After that, one additional funeral is added each month for the first year.

For the second year, sales grow to one-third market share with 48 funerals for the year. In year three, it becomes 3/5 of average market share at 86 funerals. In the fourth year, we acquire our full market share and our optimal level of sales with 143 funerals based on our current prices and death statistics. The 12 percent growth shown in FY 2010 merely shows revenues on optimal sales of 143 funerals catching up with inflation from the previous four-year period, assumed at three percent per year.

The Cost of Goods Sold percentage of 35 percent is based on industry averages according to trade literature.

Sales of Immediate Cremations are projected according to market share of Lane County deaths that do not result in funerals (25 percent) multiplied times our average price. Our average price of an immediate cremation is as follows:

Cremation $1250
Remembrance Products $370
Bronze Urn $155
Total Cremation $1775

In order to secure these goals, the Center will develop publicity that will draw Baby Boomers because of its leadership in nonprofit causes and its unique reception facilities, offering individualized celebration and social support. A public relations firm will be retained to promote the Center. The sales staff will network and become involved in the community to bring in business. Finally, the sales program will effectively capture the business these activities bring in.

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5.4 Milestones

The following table lists important program milestones, with dates and managers in charge, and budgets for each. The milestone schedule indicates our emphasis on planning for implementation. The most important programs are nonprofit activities to quickly establish our reputation as part of the community. These efforts were described in detail in previous sections.

Web Plan Summary

Our website will be an integral part of our market effort to the computer savvy Baby Boom generation. It will also help fulfill our mission in celebrating the life of the individual online as well as in person, and by promoting our nonprofit work that ties us into the life of the community. These uses of the website will bring more people to the site and increase its marketing potential.

6.1 Website Marketing Strategy

Our target market is active on the Internet, and this fact will be fully employed in the strategy to attract Baby Boomers. The Center’s website will be used in a number of ways that both add value to the client and the community and increase the number of people seeking the website. These are described in detail in the following section.

Digitized pictures and films of the life being celebrated will be offered on our website as well as in the reception room. This will allow people who are unable to attend the funeral to share in the remembrance and celebration of the individual’s life. The website will solicit memories about the individual to be added to the site. The use of the website will allow the social support gathered in person during the funeral and reception to carry on after the ceremonies are over and expanded to people who couldn’t come.

Our website will be a most effective marketing tool by also serving as an intrinsic part of the Center’s activities. The website will host photos and memories of people whose families use our facilities. The website will also host our nonprofit activities and copies of articles about the Center and an online newsletter produced by our public relations firm. This will give exposure, not only to the nonprofits we support, but also the Center itself.

6.2 Development Requirements

The Evergreen Life Memorial Center’s website will be initially developed and hosted by our public relations firm, which will host the site and provide the technical back end. The firm will then train the owner and staff in how to add content on a regular basis.

The website will be an integral part of the function of the Center. The Center’s competitive edge is celebration of life, and the use of digitized photos and films will be used in the reception room for this purpose. But these photos and films will also be available on our website if the family wishes. People will be asked to write their remembrances during the reception, and these may be posted on the website. The family will be given the free use of a portion of our website for a year. The family may also choose to make some or all of this part of the website available only to people with a code in order to maintain privacy.

Providing this capability on the website will allow the family to:

Keep the remembrance celebration going beyond the funeral
Allow people to participate who were unable to attend the funeral
Allow people to download images they don’t have
Allow people to continue to share remembrances by email
Allow the family to continue to gather social support.

Providing this capability will also aid in marketing the Center because it will cause people to actively seek out our website.

The nonprofit causes that the Center supports will also be hosted on our website. In a later phase, a directory of websites of community nonprofit organizations will be maintained on the website as well. This will make the Center a virtual as well as actual charitable center of the community.

The website will show illustrations of our facility and will motivate people who come across the website, because of a funeral or a nonprofit purpose, to want to use the Center in time of need

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The Center’s management is comprised of an experienced funeral director and embalmer who has been active in the management of funeral homes for 10 years.

A policy manual and job descriptions have been developed and are ready for implementation. It is assumed that during the first two years of operation, sales will be low as the Center builds its reputation. The personnel plan calls for the owner to perform sales and administrative functions personally, with some help from family members who are also experienced in the funeral home industry. Staffing is ready to be implemented as soon as sales demand it.

This business is designed to be responsive to client’s needs while running lean and simply.

7.1 Personnel Plan

The personnel plan is as follows:

The owner will be the funeral director,embalmer and cremator. During the first two years, he will also serve as salesperson and administrator. His needs are $60,000 per year. After the first fiscal year, all salaries will increase three percent per year.
The salesperson will fulfill the marketing and sales plan and will be actively involved in nonprofit activities. Salary will begin at $31,830 in year three, increasing annually at three percent.
The administrative assistant will work half-time beginning year three at $13.42 per hour, taking care of bookkeeping, invoicing, bill paying, payroll and other administrative matters. Beginning July 2007 these hours will double to a full-time position.
Beginning with one half-time staff member July 2007 and expanding in July 2008 to two, the staff members will drive the hearse for pick-ups and for caravans to burial locations. They will assist in funerals and help the funeral director and clients as needed. The first staff position will begin half-time at $13,200 annually, increasing to full-time in July 2008 with at three percent annual raise. The second staff position will begin July 2008 at $25,750, increasing three percent per year.

Financial Plan investor-ready personnel plan .">

This financial plan is based on acquiring a loan for $225,000 secured by the owner’s home. The owner will provide $20,000 of start-up investment personally as well as $80,000 down payment for purchasing a church or similar building.

The Center will achieve profitability in just over two years and reach annual net profit of approximately $196,000 in the Center’s fourth year of operation, with subsequent increases annually due to inflation. These figures are conservative because they anticipate a slow market penetration as the Center builds its reputation and reaches full market share in year four.

8.1 Start-up Funding

Our start-up expenses of $19,700 and asset purchases of $197,000 are to be financed partially by the direct owner investment of $20,000 and financing in the amount of $225,000. The details are included in the following table and chart.

8.2 Important Assumptions

The financial plan assumes interest rates at eight percent raising to 10 percent by 2010. The key underlying assumptions are:

The Baby Boom Generation will continue the trend of demanding more personalized funerals.
The competition will begin offering more personalized services as they see our success, but by then we will have positioned ourselves as the personalized services market leader.

8.3 Break-even Analysis

For our break-even analysis, we assume first-year fixed expenses of $13,606 per month, which includes our full payroll, mortgage payments, utilities and an estimation of other running costs. Payroll alone, during the first year, is only $5,000 per month.

Industry standard margins of 65 percent are assumed.

The initial break-even point is realized in March of 2006 with sales of only four funerals a month.

Funeral home business plan, financial plan chart image

8.4 Projected Profit and Loss

While profitability is realized in March 2006, the second fiscal year shows a slight profit margin because of the need to hire staff and train them ahead of the growth curve. When first hiring staff, it is anticipated that for the first few months, the time it takes to train each employee may exceed the amount of time it would take for the owner to just “do it himself.” However, having staff in place and ready to make good on the promises of service we make in all our marketing efforts is critical to our growth strategy.

Month-by-month assumptions for profit and loss are included in the appendix.

8.5 Projected Cash Flow

A cash reserve is built into the plan to allow for unforeseen contingencies. Our minimum credit line available projected during this five-year period is over $45,000.

The company’s estimated cash flow analysis is outlined in the following table.

8.6 Projected Balance Sheet

The table below presents the balance sheet for the Evergreen Life Memorial Center. This table reflects dramatic growth in net worth, reaching nearly $425,000 in FY 2010. Our Projected Balance Sheet shows we will not have any difficulty meeting our debt obligations so long as our revenue projections are met.

8.7 Business Ratios

This is a more profitably run business than average in its industry because of our value-added services, slightly higher prices and lean operation.

Sales expenses are constant throughout the five-year period. While they are a high percentage in the early years against lower sales, they are low after maturity because nonprofit activities will provide more than adequate publicity that will reduce advertising expenses.

The ratios for long-term liabilities do not reflect the loan for real estate purchase, which is not included as part of this plan.

The company’s projected business ratios are provided in the table below. The final column, Industry Profile, shows significant ratios for the funeral service industry for comparison.

8.8 Long-term Plan

The long-term plan is for the Evergreen Life Memorial Center to achieve market share and hold it. This will be an expanding market over the next 35 years as the Baby Boom generation nearly doubles mortality rates from 11 percent per decade to over 18 percent by 2040. Keeping up with this growth, plus population increases in the Lane County area, will provide plenty of business for the Center for generations to come.

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How To Write a Winning Funeral Home Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for funeral home s wanting to improve their strategy or raise funding.

A well-crafted business plan not only outlines the vision for your company but also documents a step-by-step roadmap of how you will accomplish it. To create an effective business plan, you must first understand the components essential to its success.

This article provides an overview of the key elements that every funeral home owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a funeral home business plan.

A funeral home business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will be successful, and your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Funeral Home Business Plan?

A funeral home business plan is required for banks and investors. The document is a clear and concise guide to your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Funeral Home Business Plan

The following are the key components of a successful funeral home business plan:

Executive Summary

The executive summary of a funeral home business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

Start with a one-line description of your funeral home company
Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast, among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started and provide a timeline of milestones your company has achieved.

If you are just starting your funeral home , you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your funeral home firm, mention this.

You will also include information about your chosen funeral home business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a funeral home business plan. Conduct thorough market research to determine industry trends and document the size of your market.

Questions to answer include:

What part of the funeral home industry are you targeting?
How big is the market?
What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a funeral home business’ customers may include families who have recently lost a loved one, individuals who are making funeral arrangements in advance, and businesses that contract with funeral homes to provide services for their employees.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or funeral home services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be laid out, including the following 4 Ps.

Product/Service : Detail your product/service offerings here. Document their features and benefits.
Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, or launch a direct mail campaign. You might also consider promoting your funeral home business via PR or word-of-mouth marketing.

Operations Plan

This part of your funeral home business plan should include the following information:

How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will outline the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters and then each year for the following four years. Examples of milestones for a funeral home include reaching $X in sales. Other examples include adding new locations, launching new products/services, and hiring additional staff.

Management Team

List your team members here, including their names and titles, as well as their expertise and experience relevant to your industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix).

This includes the following three financial statements:

Income Statement

Your income statement should include:

Revenue : how much revenue you generate.
Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Funeral Home

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

Assets : All of the things you own (including cash).
Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Funeral Home

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

Cash Flow From Operations
Cash Flow From Investments
Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup funeral home .

Sample Cash Flow Statement for a Startup Funeral Home

You will also want to include an appendix section which will include:

Your complete financial projections
A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your funeral home . It not only outlines your business vision but also provides a step-by-step process of how you will accomplish it.

Now that you have read about the key components of a funeral home business plan, it’s time to get started on your own. If you are seeking funding, be sure to include detailed financial projections in your appendix section.

Remember to be clear and concise when writing your business plan and make sure to highlight your team’s expertise and experience. Finally, always keep in mind that your business plan is a living document and should be updated as your business grows and changes.

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Funeral Home Business Plan Sample

Oct.03, 2013

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Table of Content

Starting Funeral home business plan

Are you looking for how to open funeral home? A funeral home business mortician and burial services for the deceased. The services may include funeral planning, body preparation, transportation, burial, or cremation.

Funeral homes have been in demand from always. However, these days the demand for funeral services has increased due to the sudden rise in death rate because of coronavirus.

While it’s true that the funeral home business is profitable, it’s also correct that running such a business is not easy. You will have to procure protective kits, chemicals, and a lot of other mortuary items on daily basis. Moreover, you will need to ensure that strict protocols and safety rules are being followed throughout the process.

To ensure the successful running of your business, it is essential to first create a business plan. If you don’t know the components of a comprehensive business plan, you can take help from this business plan for a funeral home startup, James Funeral Home.

Executive Summary

2.1 the business.

James Funeral Home will be a licensed and registered funeral home based in San Antonio. The business will aim at performing all the funeral rituals including bathing and enshrouding, burial, cremation, etc. Moreover, the business will also provide catering services and transportation.

2.2 Management of Funeral home

Opening a funeral home is a relatively difficult venture. The funeral process needs to be carried out with great care and attention. Therefore, there must be efficient management and supervision to ensure that all of the sensitive tasks are taken care of properly.

Before exploring how to start a funeral home business you should keep in mind that it is a tough business. Running a funeral home means you have to be on call 365 days a year. Whether it’s Christmas or your wedding anniversary, you’ll have to arrange for the presence at the funeral home. In this sample plan on how to set up a funeral business we will be listing the details of how James Funeral Home will be managed and administered.

2.3 Customers of Funeral home

In your startup business plan for a funeral home, you should identify your customers. So that you can design your services accordingly. The customers of a funeral home are usually families of the deceased. However, in some cases, alive people also plan their funerals before dying.

2.4 Business Target

Our target is to become the number one choice of people of our city whenever they need funeral services. Moreover, we aim at boosting our net profit margin to $24k per month by the end of the three years.

Company Summary

3.1 company owner.

James Ben will be the owner of James Funeral Home. James holds a BS in Mortuary Science from Cincinnati College of Mortuary Science. He has also worked as an embalmer for two years.

3.2 Why the funeral home is being started

After working as an embalmer for two years, James decided to start a funeral home of his own. He entered the business world as he wanted to use his potential to the fullest. And to earn large profits while serving people on a wider scale.

3.3 How the funeral home will be started

Step1: Make Your Business Plan

James had good management skills. However, he didn’t possess the skill set required to make a crematorium business plan. He studied several funeral home business plan examples but eventually decided to hire a professional for it. The marketing analysis, sales strategy, and financial planning done by his business consultant are given in this sample funeral home business plan.

Step2: Get Identified

The next step is to establish a physical basis for your business and define your business’ services and aims. After this, your customers will start recognizing your presence and the distinct features of yours as compared to your competitors.

Step3: Recruitments

The hiring process is actually a part of the step in which you set up your physical presence. In this phase, you have to organize tests and interviews to find the most skillful and responsible employees for your business.

Step4: A Strong Web Presence

Along with other operations of your funeral home business , it is really important to focus on web development too. Through a website, you will be able to reach a wider audience and leave a positive image of yourself before even interacting with people.

Before owning a funeral home, it is essential to decide your services. Through this practice, you can make arrangements for equipment and space accordingly. In this business plan template for funeral home, we’re listing the services that James Funeral Home will provide.

Funeral Planning

Our primary service will be providing funeral plans. These days, many people have started to purchase funeral plans. So that their families don’t have to stress over their funeral charges after their death. In this service, we’ll also be responsible for informing all the friends/ relatives of the deceased about the death.

Body Preparation

We will prepare the dead body to be buried or cremated. This service will include all the relevant tasks such as bathing the deceased, enshrouding, etc. The paperwork required for burial will also be completed by us.

Burial/ Cremation

We will provide space for performing eulogies and brief prayers for the dead. Moreover, we’ll also be responsible for burying the dead body. Since in some religions, there is a ritual of cremating the deceased. Thus we’ll be offering cremation services too.

Transportation

We’ll also transport dead bodies from one place to another in specialized refrigerated vehicles.

Catered Meal

We’ll offer plated dinner to the mourners in a location other than our funeral home. Since funeral homes are generally prohibited to offer food in the same building, we decided to offer it in another building located nearby.

Marketing Analysis of Funeral Home

Accurate marketing analysis is the key to get prominent in the market as soon as you get launched. For doing so it is essential to know the market, direct and indirect competitors, stakeholders, and market fluctuations. An accurate market analysis will enable you

To recognize the potential customers
To identify the needs and expectations of your target customers
To decide a pricing strategy for the business plan that would allow you to meet financial goals while drawing more customers than your competitors

James studied several funeral home business plans to identify potential customers and market trends. However, he ended up realizing that hiring a professional market analyst would be better for him. As that will make him achieve a greater level of accuracy.

Business plan for investors

5.1 market trends.

Funeral homes are high in demand especially after the surge in deaths due to coronavirus. According to IBISWorld, there are more than 28k funeral homes running in the United States. Moreover, Statista predicts that the cremation rate in the U.S. would rise to 79.1 percent by 2035 – resulting in a need for more funeral homes.

Thus, it is evident that opening a funeral home will not run you into a loss. You only need to do efficient planning before starting funeral home to ensure success for your business.

5.2 Marketing Segmentation

The detailed marketing segmentation of our target audience is as follows:

5.2.1 Families of Deceased

Our primary customers will be the families of late. We expect them to avail of our body preparation, burial, and catering services. In San Antonio, the population is quite large and so the death rate. Therefore, we expect to get a considerable number of customers.

Our business values are based on customer care. We totally empathize with the families of the deceased. And therefore, to help the grievers in their misery we are offering body preparation and burial services at relatively lower prices.

5.2.2 Funeral Planners

Our second group of target customers will comprise alive people who purchase funeral planners before they die. These days, many adults and seniors have started to buy funeral plans so that their families and friends do not have to arrange money for their funerals.

5.2.3 Old Homes for Elder Orphans

The third category of our target customers will include the organizations that shelter elder orphans. Elder orphans are the senior people who do not have any friends or family to look after them. The funeral charges of such people are often paid by shelter homes. Thus, we expect them to contact us for our services too.

5.3 Business Target

Setting financial and customers’ related goals before starting a business is a good practice. It allows the business owners to direct the energy and resources towards the company’s goals.

And it is important because how much do funeral home owners make is entirely dependent on how well they could manage their assets.

Our business targets are:

To earn a profit margin of $24k per month by the end of the third year
To maintain a CSAT score of above 85%

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5.4 Product Pricing

The prices of our funeral plans and catered foods are a little higher as compared to our competitors. However, our other services could be availed at lower rates than those of our competitors.

Marketing Strategy

Sales strategy is another component that can decide the future of your business. This part enables you to reach out to your target customers and increase your sales on a monthly and yearly basis.

In this marketing plan for funeral home, we’re providing the sales strategy of James Funeral Home.

6.1 Competitive Analysis

James studied several funeral business ideas to find out the areas where his competitors were lacking. After that analysis, he decided to come up with the following competitive aspects:

James Funeral Home will have a user-friendly app so that people can connect to it remotely and conveniently.
Secondly, it’s the only funeral home in the whole city that is providing catering meals to the mourners in a separate location.
Third, it has extremely responsible employees who’ll always adhere to SOPs and strict protocols.

6.2 Sales Strategy

We’ll promote our startup through Google Local ads and local magazines
We’ll offer a 50% discount to the first 100 purchasers of our funeral plans
We’ll offer a 30% discount on our transport and catered meal services for the first two months of our launch

6.3 Sales Monthly

6.4 sales yearly, 6.5 sales forecast, personnel plan.

Before starting a funeral parlor business you should make a list of employees you will need along with their job descriptions.

7.1 Company Staff

James will be the CEO himself. However, he’ll hire the following staff

2 Supervisors to help manage the operations
1 Accountant to maintain financial records
1 Front Desk Officer
8 Morticians to perform funerals
3 Cooks to prepare food
2 Waiters to serve food
8 Cleaners to maintain the facilities
3 General Assistants for routine tasks and paperwork
1 Sales Executive to promote the company
1 Web developer/ App Developer to manage the company’s website and app
2 Drivers to transport dead bodies

7.2 Average Salary of Employees

Financial plan.

Financial planning for a funeral home business is a little complicated. Firstly, because you’ll need to buy and discard certain materials and protective kits off and on. And secondly due to the complexity involved in setting prices of funeral plans. When you sell a funeral plan to a person you don’t know the inflation rate that will prevail at the time of their death. The period may be shorter or longer – resulting in unpredictable losses or profits.

However, there are still many areas through which you can control the financial trajectory of your business. In this build a funeral home business plan, we’re providing the financial plan developed for James Funeral Home. So that you can have an idea of the cash flows, gross margins, and business ratios for this business.

8.1 Important Assumptions

8.2 brake-even analysis, 8.3 projected profit and loss, 8.3.1 profit monthly, 8.3.2 profit yearly, 8.3.3 gross margin monthly, 8.3.4 gross margin yearly, 8.4 projected cash flow, 8.5 projected balance sheet, 8.6 business ratios.

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Funeral Home Business Plan Template & Guidebook

Starting a funeral home can be daunting due to a variety of factors, from the sensitive nature of the business to the need for substantial financial planning. To help take the guesswork out of this important endeavor, this guidebook provides a #1 Funeral Home Business Plan Template that is tailored for success. With easy-to-follow instructions, this resource will help aspiring funeral home owners craft a plan of action that will ensure their institution succeeds.

Get worry-free services and support to launch your business starting at $0 plus state fees.

How to Start a Profitable Funeral Home Business [11 Steps]

How to Write a Funeral Home Business Plan in 7 Steps:

1. describe the purpose of your funeral home business..

The first step to writing your business plan is to describe the purpose of your funeral home business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a funeral home business:

Our mission is to provide compassionate, professional and affordable funeral services to families in our community, while creating a dignified and respectful experience that honors their loved ones in a caring and meaningful way.

2. Products & Services Offered by Your Funeral Home Business.

The next step is to outline your products and services for your funeral home business.

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

What is my business?
What are the products and/or services that I offer?
Why am I offering these particular products and/or services?
How do I differentiate myself from competitors with similar offerings?
How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your funeral home business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals.

A good marketing plan for your funeral home business includes the following elements:

Target market

Who is your target market?
What do these customers have in common?
How many of them are there?
How can you best reach them with your message or product?

Customer base

Who are your current customers?
Where did they come from (i.e., referrals)?
How can their experience with your funeral home business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

How does it work, what features does it have, and what are its benefits?
Can anyone use this product or service regardless of age or gender?
Can anyone visually see themselves using this product or service?
How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

Which companies are competing with yours today (and why)?
Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
What specific advantages does each competitor offer over yours currently?

Marketing channels

Which marketing channel do you intend to leverage to attract new customers?
What is your estimated marketing budget needed?
What is the projected cost to acquire a new customer?
How many of your customers do you instead will return?

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4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations.

In it, you should list:

The equipment and facilities needed
Who will be involved in the business (employees, contractors)
Financial requirements for each step
Milestones & KPIs
Location of your business
Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a funeral home business?

Funeral home building and property
Equipment: caskets, catafalques, hearse, flower cars, etc.
Office supplies: desks, chairs, computers, printers, and other office needs
Pre-need funeral contracts
Funeral service contracts
Permits: business license, death certificate filing permit, embalming license, etc.

5. Management & Organization of Your Funeral Home Business.

The second part of your funeral home business plan is to develop a management and organization section.

This section will cover all of the following:

How many employees you need in order to run your funeral home business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Funeral Home Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a funeral home business varies based on many different variables, but below are a few different types of startup costs for a funeral home business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your funeral home business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your funeral home business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses.

Here are some steps you can follow to devise a financial plan for your funeral home business plan:

Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Funeral Home Business Plans:

Why do you need a business plan for a funeral home business.

A business plan is an essential document for a funeral home business because it outlines the goals of the business, how those goals will be achieved, and how they will be funded. The plan also includes important information such as market analysis and marketing strategies, strategies for managing finances and resources, risk management plans, and strategies for dealing with competition. Having a comprehensive business plan in place provides clarity for both the owners and potential investors, enabling them to make informed decisions about their investments.

Who should you ask for help with your funeral home business plan?

It is recommended to consult with a professional financial advisor or accountant well-versed in the funeral home industry who can help you create a comprehensive business plan specific to your needs. Additionally, local small business specialists, advisors, and mentors may be able to provide valuable guidance.

Can you write a funeral home business plan yourself?

Yes, it is possible to write a funeral home business plan. A funeral home business plan should include detailed sections about the business' goals, financial projections, service offerings, marketing strategy, operating procedures and personnel plans. It is also important to include research into the local market conditions and competitive landscape, which will inform key elements of the plan. Taking the time to complete each section accurately and thoroughly can help ensure success for your funeral home business.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

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Your ultimate guide: how to start a funeral home business.

Case Management
Funeral Home Software

Well-operated funeral homes don’t only play an impactful role in the lives of many families – they also play a big role in our economy. Research indicates that the U.S. funeral industry is expected to experience a $28 billion increase in market size by 2025.

Despite the hot debate between cremation and burials nowadays, society’s need for funeral services will never disappear. From 2010 to 2020, The U.S. population increased by 7% (roughly 20 million people). As more families begin to grow and mature, more funeral services are needed along the way.

If you’ve attended many funerals in your life or know someone who runs a funeral home, you’ve probably noticed – while these sacred events are meant to honor the lives of loved ones with dignity and grace, rarely do they go 100% to plan. Plainly put, we’ve all attended a funeral where we question the quality of the funeral services.

Because of those experiences, families are constantly searching for funeral homes that treat every single funeral service with the same level of importance.

If you’re reading this, you may have similar experiences and are looking to take the matter into your own hands. Interested in learning how to start a funeral home business in your area? Read our quick guide and start making a difference in your community today.

Define Your Mission, Vision, and Values

As a new owner of a funeral home business, you must first identify your core mission, vision, and values when it comes to serving families and celebrating the lives of loved ones.

Oftentimes, it is discussed that there are two central reasons why funeral home businesses have failed in the past: funeral directors communicated poorly with client families, and they also failed to uncover exactly what the client family needed in those intimate moments during the services.

And it doesn’t end there. Several other elements and new client demands ( live streaming , personalization, preplanning, cremation, alternative services, green funerals) require funeral homes to be prepared and realize that every single situation is unique.

Before lining out your services, reflect internally and remember what inspired you to start your journey in the funeral services industry in the first place. Remember how sacred and fragile these moments are for families.

From there, create a business plan that solidifies the purpose of your funeral home and outlines how exactly you will bring that purpose to life for your community.

Complete Your New Business Checklist

As everyone knows, there are a few key steps that one must take when trying to start a business. Once you’ve created a business plan, consult the checklist below when learning how to start a funeral home business from the ground up:

Map Out Startup Costs and Business Financing

While startup costs can be intimidating, it’s important to remember the financial upside of running a funeral home. Funeral home businesses typically service around 120 funerals per year , with each of those funerals costing around $7,000 to $10,000 for families. Based on that data, funeral homes generate anywhere from $1.5 million to $2 million in average annual revenue.

Now that you know what cash inflow looks like, let’s talk about what cash outflow factors you should consider. Your funeral home business will require:

A building or operating site
A parking lot
Equipment for cremation and embalming
Funeral home software
Cold storage

Keeping those startup and ongoing costs in mind, you can effectively map out exactly how much financing your business will require to get started.

Finalize Your Funeral Home’s Name and Business Entity Type

Once you feel confident in the startup costs, you will need to create a name for your funeral home. Complete a business entity search within your state to ensure that your name has not already been taken. Once you’ve selected a name, you will then decide on the type of business entity you would like to register as. Small business development consultants will generally recommend LLC formation because of the protection it offers small business owners against liability.

Register Your Business With The State

Once you’ve settled on your business name and entity, you will need to legally register your business with the state to obtain an employer identification number (EIN) and set up your business from a tax standpoint. Every state has a slightly different process, so consult with your state’s website or your state’s small business development center to help get this lined out for you.

Open a Business Credit Card and Bank Account

Whatever you do, make sure you keep your personal and business assets separate. The general rule of thumb for new business owners is to open up a separate bank account and credit card for the business. This will also help with accounting and filing for taxes in the long run as well.

Set Up Accounting and Acquire Business Insurance

Once you’ve successfully registered your business and opened up a business bank account, ensure that you either set up an accounting system or hire an accountant to help manage and oversee bookkeeping for your funeral home business.

Additionally, you will want to make sure that you acquire business insurance to help cover your funeral home against any liability as well.

Obtain Licenses and Permits Required to Run a Funeral Home

There aren’t licenses needed to run a funeral home business. However, some states do hold different license requirements for funeral directors and embalmers specifically, so ensure that your funeral directors and embalmers are properly licensed.

States and OSHA will audit funeral homes regularly to ensure that operations are up to code and are following rules, such as the Funeral Rule .

Some other permits and licenses that funeral homes should obtain include:

Sales Tax Permit
Certificate of Occupancy (depending on if you are leasing the building or buying it)

Funeral Service 101: Set Up Your Processes

Once you’ve successfully figured out how to start a funeral home business, you can now begin building out the services you provide to your community and also set up some of your funeral home’s processes:

Process #1: The Services Your Funeral Home Will Provide

There are generally four common services that are provided by most funeral homes:

Full-Service Burial
Direct Burial
Full-Service Cremation
Direct Cremation

With full-service packages, viewings are included where funeral attendees can see loved ones a final time before their loved ones are buried. Oftentimes, the full-service packages are more expensive for families, but it allows for more intimate moments. These packages are generally for services with more exquisite caskets, eulogies, large families, music, and much more.

Direct burials and cremations serve as more cost-friendly options for families and friends who are unable to attend a full funeral service but would still like to honor their loved ones after a death.

Process #2: How You Will Market Your Funeral Home to People

There are several marketing action items that you will need to take to ensure that people in the community are able to find your funeral home. You will need to create a website to showcase your funeral home and the different services you provide. It is also recommended that you create a free Google listing and Yelp listing so that people can find your local business when searching on the internet.

Beyond those two key starting points, you can also market to your community using flyers, local radio and TV advertisements, social media, and above all else, follow up with past customers and clients and see how they’re doing every once in a while. Their word-of-mouth referrals can help bring in more new connections who are interested in your funeral home’s services.

Process #3: How You Will Handle Service Requests

Explore phone systems and decide on a winning system for your funeral home. Make sure that people are able to easily get in touch with your funeral home when inquiring about your services. The quicker that you are able to have someone get in touch with a new client about requested services, the more peace of mind that you’ll be able to provide for that family.

More importantly, families are looking for a genuine, authentic celebration of life for their loved ones. Ensure that you have creative processes in place to help provide a unique and intimate experience for every single family.

For example, say a family has requested particular music, decor, and lighting based on some of their loved one’s personal hobbies and interests. If you are unable to meet their needs for the funeral services based on those elements, the moments won’t be as special and heartfelt.

Set up a process or meeting for every funeral service where your team can review custom service requests from clients and plan the best experiences possible to celebrate their loved ones.

Invest in Funeral Home Software

Imagine you’ve been hired on to a funeral home business that already exists. You ask the funeral director if they are able to pull all of the attendees and activities for a particular funeral that is two weeks out so that you can put together a program.

Instead of having a slick, cloud-based software that visualizes the necessary data for you, the funeral director pulls out a worn-down, red notebook with several pages of chicken scratch handwriting that you are now required to decode. Sounds much more complicated than it needs to be, right?

Businesses in the funeral industry are now turning to funeral home software, also known as funeral home management software. This tool allows funeral homes to streamline client management and provide the best celebration of life possible to every single family.

Experts recommend that business owners who are new to the funeral home industry look into these software solutions. Advanced funeral home software helps funeral homes streamline client management, open up the door to new business, adapt to new client service requests, and provide an easier, more meaningful experience for everyone involved.

Learn How to Start a Funeral Home Business and Provide Better Experiences for Families With Gather

We know how passionate you are about providing the best possible funeral experience to families in your community, and we also know how intimidating it can be to undertake a new business venture.

Gather’s funeral home management software helps provide peace of mind to funeral directors and funeral homes in all areas of the nation by offering case management solutions, funeral home website builds, live streaming solutions, and much more.

Don’t let your families settle for average celebrations of life for their loved ones. Give them the best funeral experience you possibly can.

Learn how to start a funeral home business the right way. Schedule a free demo with Gather today and gain peace of mind knowing your funeral home is set up for continued success.

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How to Start a Funeral Home

On This Page:

11 Steps to Start Your Own Funeral Home

How big is the funeral homes industry, what are the types of funeral homes, who are the key competitors in the funeral industry, what are the typical startup costs for a new funeral home, is owning a funeral home profitable, what are the keys to launching a new funeral home, how to start a funeral home faqs, other helpful business plan articles & templates.

Starting a funeral home business can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn the keys to launching and running a successful Funeral Home.

Importantly, a critical step in starting a funeral home is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .

Download our Ultimate Business Plan Template here

There are 11 steps to starting a funeral home as follows.

Step 1: Do Your Research

The most important part of starting a funeral home is doing your research.

If you’ve never run a funeral home before, start by reading industry magazines and websites to learn more about the industry. The more you know about the industry, the better you can design your business and the more prepared you will be to launch and grow your funeral home.

Step 2: Develop a Funeral Home Business Plan

A business plan is one of the most important steps in starting any business. Developing the funeral home business plan forces you to think through your business concept and other aspects to help you make your business a success including the following sections:

Company Analysis – you will document the type of funeral home you plan to launch.
Marketing Plan – you will document your pricing and how you will attract new customers.
Management Team – you will detail your company’s staffing needs.
Financial Plan – you will identify key expenditures you need, staffing and other costs, and projected revenues. This will help in forecasting the future of your funeral home and in determining if you need to raise outside funding.

Step 3: Determine Your Location & Space Requirements

Before you start a funeral home, it is important to have a location in mind if you are not purchasing an existing funeral home.

Your location doesn’t need to be one in which there is a lot of foot traffic (such locations are very expensive), but it can’t be inconvenient to get to either. Think about the services you’d like to offer in your funeral home when thinking about the size of the space you need.

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Step 4: Equipment Needed

To start a funeral home, there are many supplies and equipment that you will need. Below are the main supply and equipment categories to consider:

Prep Room Equipment & Supplies
Chapel, Selection Room Equipment & Furnishings
Funeral Service Items
Flower Equipment & Supplies
Emergency Pouches & Body Bags
Removal Equipment & Transport Supplies

Step 5: Licensing Requirements

In most states, you cannot start a funeral home without having the right licenses and permits in place. Be sure to check your state’s rules regarding starting a funeral home.

Finish Your Business Plan Today!

Step 6: business insurance.

Once all the above steps are completed, it is time for you to get insured. There are many insurance companies that offer different policies that can suit your needs including workers’ compensation and general liability.

Step 7: Market Your Business

Once you get all the necessary approvals and licenses, it is time for you to market your funeral business. There are many marketing strategies you can employ such as referrals, partnerships, social media marketing, pay-per-click advertising and public relations among others.

Step 8: Hire Employees

Depending on how busy your funeral home is, you probably need to hire additional staff including a licensed Funeral Director who will lead the final funeral arrangements.

Here are some things to consider when hiring employees for your funeral home:

look for people who are honest and have a good reputation in their work
check how organized they are to make sure they won’t miss anything important
make it clear whether you require permanent employees or on-call staff
check the person’s work history and past employment references before hiring them

Treat your employees fairly and ensure that your business is a safe place to work and that there are no safety hazards.

Step 9: Set up a Business Bank Account

You must set up a bank account for your business and set up credit card processing so you can accept credit cards as a form of payment (along with cash and checks).

Step 10: Record-Keeping Requirements

With any kind of business, keeping proper records is very important because it will help with tax filing, budgeting, and other things. A funeral home is no different.

Step 11: Review & Adapt Your Business Plans

Once your funeral home is up and running, it is time to review operations and make changes where necessary. For instance, if the demand for funerals was higher than expected, consider hiring additional staff to meet client needs. You might also need to change or increase your equipment if the need arises.

According to IBIS World, the funeral homes industry in the US reached $16 billion in annual revenue and is anticipated to continue growing at a rate of 0.6%.

There are various types of funeral homes, but the most common ones include:

Traditional Funeral Home

This type of funeral home offers all types of services including funerals and wakes; traditional funerals, burial services, memorial services, cremation, and more.

Cremation Funeral Home

This is the type of business that focuses mainly on cremation services which are typically less expensive than traditional funeral homes. Cremations have become very popular lately since they are cheaper while still providing similar benefits to traditional funerals. It is important to note, however, that cremation services are usually provided by other types of funeral homes.

Religious Funeral Providers

This is a business that provides funeral services to people of the same religion. For example, it could be an Islamic funeral home or a Catholic funeral home. This type of funeral home only provides the services required by their religion.

While there are many funeral homes in the US, only a few of them are considered the biggest competitors. These competitors include:

Service Corporation International (SCI)

One of the oldest and largest providers of funeral, cremation, and cemetery services in North America, Service Corporation International (SCI) was founded in 1962 and is based in Houston. SCI has 16,503 employees and last reported $3.5 billion in total revenue.

Carriage Services Inc.

Carriage Services Inc. is a Houston-based firm that was formed in 1991. The business went public in 1996, and current operates 178 funeral homes in 26 states as well as 32 cemeteries in 12 states.

StoneMor Partners LP

StoneMor is based in Pennsylvania and is the nation’s second-largest cemetery owner, with operations in 27 states and Puerto Rico.

There may be other locally-owned funeral homes in your target market. It is important to conduct research on how big they are and how people view them before you start your own funeral home.

The typical startup costs for a funeral home will depend on how much money the owner has to spend. It can probably land somewhere between $150,000 and $300,000.

If funeral homes want a luxurious set-up that includes all of the latest technologies, then they will have to spend more money in order to acquire these resources.

The common startup business expenses for a funeral home include:

Equipment & Furnishings – This category includes all of the necessary equipment that funeral homes use during embalming, like disinfectants and chemicals. They will also need to pay for furniture like caskets, chairs, sofas, etc., as well as office supplies and items for everyday life.
Marketing & Advertising – Funeral homes will have to spread the word about their business, so they will need to pay for marketing strategies. They should also invest in a website and other online platforms that can help them reach a wider customer base.
Insurance – There are going to be insurance premiums that funeral homes have to pay on a monthly basis. This is necessary for legal requirements and it will take up a chunk of the startup costs.
Licenses – There are some licenses that funeral homes will need to acquire, which can also take up a lot of money during the startup phase. This includes operational permits and those that relate to the industry as a whole.
Hiring and Onboarding – New funeral homes will have to hire new staff members and they will also need help from employees during the startup phase. This will obviously take up some of their funds, but it can be beneficial because once other businesses see how great your business is, they may want to invest in you themselves.
Rent – It is recommended to own a funeral home building rather than renting one. This is a better option because funeral homes will receive tax benefits if they own the building, but they will also have more flexibility when it comes to adapting their funeral home as the industry changes.

Yes, funeral homes can be highly profitable businesses if they have a lot of customers and loyal employees. While there are a few challenges funeral homes need to face when it comes to making a profit, once these issues are resolved, they will definitely see some return on investment.

The average funeral home in the United States makes a profit of $80,000 to $120,000 per year.

In order to launch a successful funeral home and make it profitable, you need to keep in mind the following:

Build Loyalty

This is one of the most important factors when trying to make a profit with your funeral home. You want customers who are willing to come back again and again, whether they be family members of the deceased, or people who are planning to eventually pass away themselves.

Offer Competitive Prices

Funeral homes need to offer lower prices than other funeral homes in order to attract customers. They should also offer customized services and packages that will help them save money as well as give the customer what they want.

Market Your Business Online

This is one of the best ways to market your funeral home today. You should definitely invest in social media platforms like Facebook. It would also be beneficial to set up a website where customers can receive information about your business as well as look at price lists and other necessary materials.

Additional Resources

Funeral Mavericks

How to Finish Your Ultimate Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your funeral home business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

What are the necessary permits for starting a funeral home?

To start a funeral home you need to acquire the necessary permits and licenses. You will not only need to get a business license but also special licenses/certifications depending on your state laws.

For instance:

If you live in California you will need to acquire a license from the Board of Funeral Directors and Embalmers
If you live in New York you will need a funeral home license from the Department of Health, and so forth.

How do you market a funeral home?

Marketing a funeral home needs to be done with care, as this is one of the steps that can determine if your business will succeed or fail. Marketing a funeral home usually includes advertising in local newspapers and magazines, building a website, creating business cards and brochures, and networking with funeral service providers in your area.

However, among those advertising options, building a website is the one that will definitely help your business grow. Since almost everything is operated online these days, it is important to have a website that clearly presents your business and the services you offer.

What equipment and supplies do I need to get a funeral business off the ground?

The first thing you will need to start a funeral home is to rent or purchase office space if it's available. If not, make sure to check for possible spaces that are fit for starting your funeral business.

Equipment and supplies such as caskets, urns, clothing, and automobiles will also need to be bought so you can offer the needed services for clients that need them.

How do I grow my customer base once the funeral home is open?

One of the most important steps in growing your funeral home business is to offer quality services.

Offering quality service can make or break your funeral home business, so make sure to only hire the best personnel available. Once you have trained them well, they will be able to serve clients with utmost care and respect which is what all customers want in the end.

Keeping your customers happy will eventually result in them increasing word-of-mouth recommendations to family and friends, which can help grow your base of customers.

Having an online presence is another way to increase the customer base by using social media platforms to promote your business. You can also use websites like Yelp or Google Places to attract local customers.

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Funeral Home

Back to All Business Ideas

How to Start a Funeral Home

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on June 7, 2022 Updated on May 8, 2024

Investment range

$151,550 - $289,100

Revenue potential

$624,000 - $1.95 million p.a.

Time to build

1 – 12 months

Profit potential

$62,000 - $195,000 p.a.

Industry trend

Funerals offer people the chance to say goodbye to their loved ones, with their loved ones. Funeral homes, therefore, provide an essential and meaningful service to the community, and their largely recession-proof since demand is relatively constant.

The US funeral services industry is worth $18 billion after years of steady growth. Starting a funeral home could be a very rewarding venture, as you’ll be providing a valuable service and making good money.

If you’re considering such a venture, however, you’ll need to understand what you’re getting into from a business perspective. Fortunately, this step-by-step guide contains all the information you need to start a successful funeral home.

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Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a funeral home has pros and cons to consider before deciding if it’s right for you.

Provide Solace – Help people mourn and find closure
Good Money – The average funeral costs $6,000 to $7,000
Stable Industry – Economic fluctuations have little impact on funeral homes
Investment Required – Costs to get started are high
Emotionally Draining – Deal with the grieving every day

Funeral home industry trends

Industry size and growth.

Industry size and past growth – The US funeral home industry is worth $18 billion in 2022 after expanding .6% annually the last five years.(( https://www.ibisworld.com/industry-statistics/market-size/funeral-homes-united-states/ ))
Growth forecast – The US funeral home industry is projected to decline 1.8% in 2022.
Number of businesses – In 2022, 24,554 funeral home businesses are operating in the US.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/funeral-homes-united-states/ ))
Number of people employed – In 1022, the US funeral home industry employs 119,167 people.(( https://www.ibisworld.com/industry-statistics/employment/funeral-homes-united-states/ ))

Trends and challenges

Trends in the funeral home industry include:

More and more people are pre-planning their funeral arrangements so their families don’t have to be concerned about the costs.
Eco-friendly funeral products and services are trending, including bio-degradable caskets and space-saving burial techniques.

Challenges in the funeral home industry include:

E-commerce is allowing people to purchase caskets online for less, reducing casket sales for funeral homes.
The rising number of cremations is also reducing the merchandise sales for funeral homes.

Demand hotspots

Most popular states – The most popular states for funeral directors are Oregon, Arizona, and Pennsylvania.(( https://www.zippia.com/funeral-director-jobs/best-states/ ))
Least popular states – The least popular states for funeral directors are Montana, South Carolina, and South Dakota.

What kind of people work in funeral homes?

Gender – 35.3% of funeral directors are female, while 64.7% are male. (( https://www.zippia.com/funeral-director-jobs/demographics/ ))
Average level of education – The average funeral director has an associate’s degree.
Average age – The average funeral director in the US is 50 years old.

How much does it cost to start a funeral home business?

Startup costs for a funeral home range from $150,000 to $300,000. Costs include a down payment on a building, preparation of the space, equipment, a hearse, and an inventory of caskets and urns.

You’ll need to meet the funeral service education requirements of your state to become a licensed funeral director. According to the American Board of Funeral Services Education , most states require post-secondary education, the passage of the National Board Examination, and serving an internship for one or two years.

Check with your state board for specific requirements. Educational resources and information are also available through the National Funeral Directors Association .

You’ll need a handful of items to successfully launch your funeral home business, including:

Embalming tables
Embalming machine
Mortuary stretchers
Body coolers
Artery tubes
Cavity injectors
Drainage tubes
Hydro aspirators
Needle injectors
Inventory of caskets
Inventory of urns

How much can you earn from a funeral home business?

The average cost of a funeral is $6,500. The profit margin of a funeral home after all costs is about 10%.

In your first year or two, you could hold eight funerals per month, bringing in $624,000 in annual revenue. This would mean $62,000 in profit, assuming that 10% margin. As your funeral brand gains recognition, you might hold 25 funerals per month. With annual revenue of $1,950,000, you’d make a healthy profit of $195,000.

What barriers to entry are there?

There are a few barriers to entry for a funeral home. Your biggest challenges will be:

The high startup costs of the building, equipment, and inventory
Meeting state licensing requirements to be a licensed funeral director

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Step 2: hone your idea.

Now that you know what’s involved in starting a funeral home, it’s a good idea to hone your concept in preparation to enter a competitive market.

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research funeral homes in your area to examine their products and services, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the local market is missing a funeral parlour that sells biodegradable caskets, or a funeral establishment that offers cremation services.

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as celebration of life services or eco-friendly funeral services.

This could jumpstart your word-of-mouth marketing and attract clients right away.

What? Determine the services and products you will sell on-site

In addition to funeral services, you can sell caskets and urns. You can also offer cremation services, but that would add significantly to your startup costs.

How much should you charge for funeral services?

The average cost of a funeral is $6,500. After all costs of the merchandise, labor, and overhead, your profit margin should be about 10%.

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market could be anyone, so you should spread out your marketing to include sites like TikTok, Instagram, Facebook, and even LinkedIn.

Where? Choose your funeral home location

Choosing the right location for your funeral home is crucial for ensuring its success. Look for a spot in a convenient and accessible location, such as a busy street or a residential area. Consider the size of the property and the facilities, ensuring that they can accommodate the needs of clients and staff.

Additionally, assess the local regulations and zoning laws to ensure compliance and obtain any necessary permits. Depending on the type of funeral services you plan to offer, you may also want to consider the proximity to cemeteries, crematoriums, and other related services.

By strategically choosing the right location, you can establish a reputable and successful funeral home that provides compassionate and personalized services to families.

It’s possible that you could find a location to rent for your funeral home instead of purchasing a building. You can find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

Step 3: Brainstorm a Funeral Home Name

Here are some ideas for brainstorming your business name:

Short, unique, and catchy names tend to stand out
Names that are easy to say and spell tend to do better
Name should be relevant to your product or service offerings
Ask around — family, friends, colleagues, social media — for suggestions
Including keywords, such as “funeral home” or “funeral parlour”, boosts SEO
Name should allow for expansion, for ex: “Eternal Rest Funeral Home” over “Veteran’s Funeral Home”
A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these.

Find a Domain

Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Funeral Home Business Plan

Here are the key components of a business plan:

Executive Summary: A brief overview outlining the funeral home’s mission, goals, and key highlights, serving as a snapshot for potential investors or partners.
Business Overview: A comprehensive description of the funeral home, its mission, values, and the specific funeral services offered, highlighting its unique selling points.
Product and Services: Detailed information about the range of funeral services provided, including burial and cremation options, funeral planning, and any additional offerings like grief counseling.
Market Analysis: Examination of the funeral industry market, identifying target demographics, trends, and potential challenges to ensure a solid understanding of the business’s environment.
Competitive Analysis: Evaluation of other funeral homes in the area, assessing their strengths and weaknesses, to determine the funeral home’s competitive edge and strategic positioning.
Sales and Marketing: Strategies for attracting and retaining clients, encompassing advertising, online presence, community engagement, and other methods to promote the funeral home’s services.
Management Team: Profiles of key personnel, highlighting their expertise and roles in the funeral home’s operation, instilling confidence in investors and stakeholders.
Operations Plan: Detailed information on the day-to-day operations of the funeral home, covering staffing, facilities, equipment, and logistics to ensure smooth service delivery.
Financial Plan: A comprehensive financial overview, including startup costs, revenue projections, and profit margins, providing a clear picture of the funeral home’s financial viability.
Appendix: Supplementary materials such as licenses, permits, resumes of key personnel, and additional documentation supporting and enhancing the information presented in the business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to funeral homes.

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state.

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your funeral home will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2024

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
Personal: Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best option, other than friends and family, for funding a funeral home business.

Step 8: Apply for Funeral Home Business Licenses and Permits

Starting a funeral home business requires obtaining a number of licenses and permits from local, state, and federal governments.

You’ll need a funeral director’s license from your state. Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits.

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more.

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your funeral home business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
Business Property: Provides coverage for your equipment and supplies.
Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
Worker’s compensation: Provides compensation to employees injured on the job.
Property: Covers your physical space, whether it is a cart, storefront, or office.
Commercial auto: Protection for your company-owned vehicle.
Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business.

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.

You may want to use industry-specific software, such as passare , Osiris , or FrontRunner , to manage your processes, project coordination, inventory, invoices, and payments.

Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero .
If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google.

Here are some powerful marketing strategies for your future business:

Website and SEO — Develop a website that clearly outlines your services, pricing, and support resources. Use SEO best practices to ensure high visibility for local searches on funeral services, cremation services, and memorial planning.
Local SEO — Regularly update your Google My Business and Yelp profiles to strengthen your local search presence.
Professional Branding — Ensure your branding conveys empathy, professionalism, and respectfulness, represented through your logo, business cards, brochures, and the overall appearance of your funeral home.
Community Outreach — Build strong relationships with local hospitals, hospices, and religious organizations. Participate in community events to foster a compassionate image.
Content Marketing — Run an informative blog to help the community understand aspects of funeral planning, grief support, and remembrance options, positioning your funeral home as a supportive resource.
Email Newsletters — Send out newsletters with grief support resources, information on pre-planning services, and updates about your facilities or services to keep your community informed.
Experiential Marketing — Organize open house events to allow the public to tour your facilities and meet your staff, and host grief support workshops to assist those dealing with loss.
Collaborations with Local Businesses — Partner with local florists, caterers, and religious centers to offer comprehensive services to families, enhancing the support you provide during sensitive times.
Aftercare Services — Provide ongoing support services such as grief counseling referrals or assistance with thank-you cards, showing continued commitment to families even after the funeral service.
Pre-Planning Services — Offer consultations for pre-planning funeral arrangements, helping individuals make informed and thoughtful decisions ahead of time.
Local Advertising and Community Seminars — Advertise in local newspapers, church bulletins, and publications targeting senior communities. Host free seminars on estate planning, will writing, and funeral pre-planning to educate and engage with potential clients.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your funeral home meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your funeral home business could be:

Professional, caring services to celebrate your lost loved one
Funeral services for less to ease your burden
Save your family time and money with funeral pre-planning

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a funeral home business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in funeral homes for years and can offer invaluable insight and industry connections.

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in funeral homes. You’ll probably generate new customers or find companies with which you could establish a partnership.

Step 12: Build Your Team

Potential positions for a funeral home business include:

Embalmers – embalm bodies prior to the funeral and burial
Assistants – assist with arranging funerals
General Manager – scheduling, ordering, accounting
Marketing Lead – SEO strategies, social media

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.

Step 13: Run a Funeral Home – Start Making Money!

Funeral homes represent an $18 billion industry that fills an essential role in the mourning process. By starting your own funeral home, you’d have the opportunity to ease difficult times in people’s lives, provide a valuable service, and make a good living at the same time.

Now that you know what’s involved, it’s time to get to work and launch your successful funeral home.

Funeral Home Business FAQs

Funeral homes can be very profitable. More importantly, though, funeral homes provide an essential service and comfort for people during difficult times.

Service Corporation International (SCI) is currently the largest funeral home business in the United States, with over 1,800 locations across North America.

A successful funeral home should offer compassionate and personalized services to families during their time of need. This includes providing a range of funeral service options, such as traditional funeral services, cremation services, and memorial services.

The type of food served at a funeral may vary depending on cultural and religious customs, personal preferences, and budget. Common options include finger foods, sandwiches, fruit trays, and desserts.

The most common type of funeral in the United States is a traditional funeral service, which typically includes a visitation or wake, a funeral ceremony, and a graveside service. This type of funeral is often associated with religious or cultural traditions and may include elements such as prayers, hymns, and eulogies.

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Business Plan Template for Funeral Home Business

Great for beginners
Ready-to-use, fully customizable Subcategory
Get started in seconds

Starting a funeral home business is no easy task, but with the right planning and strategy, it can be a rewarding and successful venture. ClickUp's Business Plan Template for Funeral Home Business provides entrepreneurs with a comprehensive roadmap to outline their vision and secure the necessary funding.

With this template, you'll be able to:

Create detailed financial projections, including revenue forecasts and expense budgets, to attract potential investors.
Conduct a thorough market analysis to understand the competitive landscape and identify unique opportunities for your funeral home business.
Develop effective competitive strategies to differentiate your services and stand out in the market.
Outline operational details, such as staffing, facilities, and service offerings, to ensure a smooth and efficient operation.

Don't let the complexities of starting a funeral home business overwhelm you. Use ClickUp's Business Plan Template to lay the foundation for your success and secure the funding you need.

Business Plan Template for Funeral Home Business Benefits

Attracting investors and securing funding for your funeral home business is crucial, and a business plan template can help you do just that by:

Providing a clear roadmap for your business, outlining your financial projections, market analysis, competitive strategies, and operational details
Demonstrating to potential investors that you have a solid understanding of the funeral home industry and its market dynamics
Helping you identify and mitigate potential risks and challenges that may arise in your business
Allowing you to showcase your unique value proposition and differentiate yourself from competitors in the market.

Main Elements of Funeral Home Business Business Plan Template

When starting a funeral home business, it's crucial to have a comprehensive business plan in place. ClickUp's Business Plan Template for Funeral Home Business provides the essential elements you need to create a solid plan:

Custom Statuses: Track the progress of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do, ensuring that every aspect of your plan is accounted for and managed effectively.
Custom Fields: Utilize custom fields such as Reference, Approved, and Section to add specific details to your business plan template, making it tailored to your funeral home business needs and allowing for easy organization and filtering of information.
Custom Views: Access different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to gain a comprehensive overview of your business plan, track the status of each section, create a timeline for implementation, and refer to a step-by-step guide to assist you along the way.

With ClickUp's Business Plan Template for Funeral Home Business, you can confidently present your ideas to investors and secure funding for your funeral home venture.

How To Use Business Plan Template for Funeral Home Business

If you're starting a funeral home business and need to create a comprehensive business plan, follow these six steps using the Business Plan Template in ClickUp:

1. Executive Summary

Begin your business plan with an executive summary that provides an overview of your funeral home business. Include key details such as your mission statement, business goals, target market, and competitive advantage. This section should give readers a clear understanding of your business and its potential.

Use the Docs feature in ClickUp to easily write and format your executive summary.

2. Company Description

Next, provide a detailed description of your funeral home business. Explain the services you'll offer, your pricing structure, and any unique features that set your funeral home apart from competitors. Additionally, outline your business structure, ownership, and legal requirements.

Create custom fields in ClickUp to keep track of important information about your company, such as registration numbers and licenses.

3. Market Analysis

Conduct a thorough market analysis to understand the funeral home industry and your target market. Identify the demographic and psychographic characteristics of your ideal customers, as well as the size and growth potential of the funeral industry in your area.

Use the Table view in ClickUp to organize market research data, such as market size, competition analysis, and customer profiles.

4. Marketing and Sales Strategy

Develop a marketing and sales strategy to attract customers and promote your funeral home business. Outline your pricing strategy, advertising and promotional activities, and any partnerships or collaborations you plan to pursue. Additionally, define your sales process and customer acquisition channels.

Create tasks in ClickUp to assign specific marketing and sales activities to team members and track their progress.

5. Operations and Management

Detail the operational aspects of your funeral home business, including your facility, equipment, staffing requirements, and day-to-day processes. Explain how you'll manage operations, maintain quality standards, and ensure customer satisfaction. Additionally, provide an organizational chart that highlights key roles and responsibilities.

Use the Gantt chart feature in ClickUp to create a visual timeline for setting up your facility, hiring staff, and launching your funeral home business.

6. Financial Projections

Finally, include financial projections in your business plan to demonstrate the potential profitability and sustainability of your funeral home business. This should include a sales forecast, projected expenses, cash flow statement, and break-even analysis. Additionally, outline your funding requirements and any financial arrangements you've made.

Use the Dashboards feature in ClickUp to track and analyze your financial data, including revenue, expenses, and profitability.

By following these six steps and utilizing the Business Plan Template in ClickUp, you can create a comprehensive and well-structured business plan for your funeral home business.

Get Started with ClickUp’s Business Plan Template for Funeral Home Business

Entrepreneurs looking to start a funeral home business can use the ClickUp Business Plan Template to create a comprehensive plan that covers all aspects of their business.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a solid business plan:

Use the Topics View to organize your plan into different sections such as financial projections, market analysis, competitive strategies, and operational details
The Status View will help you track the progress of each section, whether it's complete, in progress, needs revision, or still to do
The Timeline View will provide a visual representation of your business plan's milestones and deadlines
The Business Plan View will give you a comprehensive overview of your entire plan in one place
The Getting Started Guide View will provide step-by-step instructions on how to use the template effectively
Customize the template by adding custom fields such as Reference, Approved, and Section to provide additional information and track important details
Update statuses and custom fields as you work on each section to keep team members informed of progress
Monitor and analyze your business plan to ensure it meets your goals and attracts investors.
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Funeral Home Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Service Industry » Funeral Home

Are you about starting a funeral arrangement company ? If YES, here is a complete sample funeral home business plan template & feasibility report you can use for FREE .

Death is one inevitable part in the equation of human existence, so the need to prepare for it cannot be overlooked. Some people go as far as buying insurance to take care of their own funeral when they die; whilst others state clearly in their ‘will’ the type of funeral they would prefer.

This goes to show that the funeral home business will always thrive as long as human exist. The basic things needed to be able to operate a funeral home could range from getting a license to even getting a certification. Some countries consider these as the basics, while in some other countries you could get a waiver for it.

In starting a funeral home, you will be expected to have a standard Casket Carts, Casket Lowering Devices and Accessories, Preparation Room, Embalming Chemicals, Cremation Supplies, Mausoleum, Urn Vaults, Vases, Burial Garments, Waste Containers, Lawn Boards, Straps and Slings and Chairs & Accessories.

If you are in doubt if this kind of business is worth investing in, just try and do a research on existing funeral homes in your area and you will be shocked to know the amount of money they make monthly.

It is important to know that this kind of business is not for everyone, it is for those who naturally can comfort and care for bereaved people whether money is involved or not. If you don’t have this basic quality, you might not succeed in this business.

A Sample Funeral Home Business Plan Template

1. industry overview.

A funeral home which can also be referred to as a funeral parlor or mortuary is a business that basically provides interment and funeral services for the dead and their families; these services may include a prepared wake and funeral, and the provision of a chapel for the funeral.

The funeral home industry includes companies that conduct funerals and prepare the deceased for burial or interment. Funeral homes are also involved in the transportation of the dead and the sale of caskets and other related funeral merchandise.

The Funeral Home industry comprises of funeral homes combined with crematories; on the other hand, businesses whose core business activities is to conduct cremation are not included in the Funeral Home industry; they are classified under the Cemetery Services industry

In the united states of America, most modern day funeral homes are run as family businesses. As a matter of fact a large percentage of trained morticians and undertakers et al work in small, independent family run funeral homes. The owners of these families run funeral homes usually hires two or three other morticians / undertakers as either full – time employees or part – time employees.

It is the practice for funeral homes to have one or more viewing rooms, a preparation room for embalming, a chapel, and of course a casket selection room. So also, funeral homes generally sell coffins and urns, they have a hearse for transportation of bodies, a flower car, and limousines et al.

The Funeral Home Services industry is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, France, Australia and Italy et al.

Statistics has it that in the United States of America alone, there are about 24,838 licensed and registered funeral homes responsible for employing about 121,936 employees and the industry rakes in a whooping sum of $16bn annually with an annual growth rate projected at 1.3 percent.

It is important to state that in the falling per capita income during the recession period and of course a rising number of low-priced cremations have hampered the revenue generated in the industry.

So also families that are not financially buoyant opt for discount retailers and manufacturers to purchase caskets, which negatively impact revenue generation for funeral home operators. However, the industry’s revenue is projected to grow slightly in the next five years.

No doubt, as the population ages, it is obvious that the number of deaths in the United States and all over the world is anticipated to increase and this will in turn create market for the funeral home industry. Nonetheless, continued competition from discount retailers and the ease of online ordering from casket manufacturers, as well as a rise in low-priced cremations, are expected to curtail prices for funeral home operators.

If you are contemplating starting your own funeral home business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies. If you get some key factors wrong before starting your own funeral home services, then you are likely going to struggle to stay afloat.

2. Executive Summary

Clarion Call – Funeral Homes is a registered and licensed funeral home business that will be located in the heart of Cape May – New Jersey in a neatly renovated and secured housing facility; a facility that is specifically designed and equipped with the needed facility for a world – class funeral home services

Clarion Call – Funeral Homes is a family owned and managed business that believe in the passionate pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to venture into the funeral home services industry by establishing our own funeral home business.

We are certain that our values will help us drive the business to enviable heights and also help us attract the numbers of clients that will make our business breakeven within the shortest time frame possible. At Clarion Call – Funeral Homes we will arrange services in accordance with the wishes of surviving friends and family members of the deceased, whether immediate next of kin or an executor so named in a legal will.

We will take care of the necessary paperwork, permits, and other details, such as making arrangements with the cemetery, and providing obituaries to the news media. We will go as far as posting obituaries online and use materials submitted by families to create memorial websites

Our facility include; Wake room: for services and visitations; Preparation room: for embalming and restoration, Merchandise display: caskets and other merchandise that customers may purchase, Privacy room: for the family, Office: for mortician’s personal and administrative use, and Livery: a garage to keep funeral coaches and other vehicles.

We have the required staff strength and we will run a 24 hours a day and seven days a week services. We are going to be a customer-centric funeral home business with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization.

With that, we know that we will be enables to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners (vendors), and all our employees as well.

Clarion Call – Funeral Homes is a family business that is owned and managed by Arthur Stamford and his family. Mr. Arthur has a College degree in Mortuary Science and a Master’s Degree in Business Administration. He has well over 15 years of experience working in the Funeral Homes Services industry both at state and national level.

3. Our Products and Services

Clarion Call – Funeral Homes is set to operate a standard funeral homes service in Cape May, New Jersey. The fact that we want to become a force to reckon with in the funeral home services industry means that we will go all the way out to give our clients a lasting and pleasant memory of their bereaved family members and friend.

We will render services that that will make them want to come back as well as recommend our funeral home services to their friends, family members and business partners. These are the services and amenities that will be made available to our clients;

Providing funeral director services
Providing embalming services
Operating funeral homes combined with crematories
Providing mortician services
Providing visitation or viewing services
Providing funeral services
Providing graveside committal services
Direct cremation services
Selling funeral merchandise (e.g. caskets, flowers and obituary notices)
Transporting the deceased

4. Our Mission and Vision Statement

Our vision is to establish a funeral home brand that will become the number one choice for residence in the whole of Cape May – New Jersey and other cities in the United States.
Our vision reflects our values: integrity, service, safety, excellence and teamwork.
Our mission is to deliver reliable, genuinely, caring and excellent service superior to what our competition can offer in any location where our funeral home services will be situated and to ensure that we work hard to grow out funeral home services to be listed amongst the top 10 funeral homes in the United States of America.

Our Business Structure

It is very vital to build a structure to build on from the very outset. This is why we believe that the success of any business is to a larger extent dependent on the business structure of the organization and the people who occupy the available role.

Although Clarion Call – Funeral Homes is a family run business will still work with a business structure that will give room to the minimal employees (mostly part – time employees) to explore their creativity, feel belong and full integrate into the business philosophy.

We are aware that when recruiting for a funeral home, your aim should be to look for people who can handle grieving and bereaved people not just people looking for a job in other to be able to pay their bills and that is exactly what we will look out for.

We will only recruit people with good customers’ service skills, people with compassion, people who can empathize, who love this line of business and people who don’t have any problem handling dead bodies. We will not make the mistake of recruiting people with the wrong skill sets; because we know they can ruin our business before it even get started.

This is why we will make sure we recruit smartly and wisely; people with the right mindset to help us achieve our business goals and objectives in record time. We intend building Clarion Call – Funeral Homes on this structure;

Chief Executive Officer
Funeral Home Director
Human Resources and Administrative Manager
Accountants / Cashiers
Mortician and Undertaker
Marketing Officer (Contract Worker)
Cleaners / Washer men (Full – Time Employee)
Security Officer

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for fixing prices and signing business deals
Responsible for providing direction for the business
Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for signing checks and documents on behalf of the company
Responsible for overseeing the smooth running of the magazine production and distribution process
Evaluates the success of the organization

Funeral Home Director:

Obtains information needed to complete legal documents, such as death certificates or burial permits.
Oversees the preparation and care of the remains of people who have died.
Consult with families or friends of the deceased to arrange funeral details, such as obituary notice wording, casket selection, or plans for services.
Plans, schedules, or coordinates funerals, burials, or cremations, arranging details such as floral delivery or the time and place of services.
Arranges for clergy members to perform needed services.
Contacts cemeteries to schedule the opening and closing of graves.
Provides information on funeral service options, products, or merchandise and maintain a casket display area.
Informs survivors of benefits for which they may be eligible.
Offers counsel and comfort to bereaved families or friends.
Discusses and negotiates prearranged funerals with clients.
Maintains financial records, order merchandise, or prepare accounts.
Provides or arranges transportation between sites for the remains, mourners, pallbearers, clergy, or flowers.
Plans placement of caskets at funeral sites or place or adjust lights, fixtures, or floral displays.
Directs preparations and shipment of bodies for out-of-state burial.
Manages funeral home operations, including the hiring, training, or supervision of embalmers, funeral attendants, or other staff.
Arranges for pallbearers or inform pallbearers or honorary groups of their duties.
Receives or ushers people to their seats for services.
Participates in community activities for funeral home promotion or other purposes.
Provides emotional support to the bereaved
Arranges for removal of the deceased’s body
Files death certificate and other legal documents
Trains junior staffs

Morticians, undertakers

Performs various tasks to arrange and direct funeral services, such as coordinating transportation of body to mortuary
Handles the preparation and care of the remains of people who have died.
Handles the removal of the deceased’s body
Performs embalming duties as necessary
Closes caskets and lead funeral corteges to churches or burial sites.
Prepares the remains (body)
Interviews family or other authorized person to arrange details, selecting pallbearers, aiding with the selection of officials for religious rites, and providing transportation for mourners.

Human Resources and Admin Manager

Responsible for overseeing the smooth running of HR and administrative tasks for the organization
Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
Defines job positions for recruitment and managing interviewing process
Carries out staff induction for new team members
Responsible for training, evaluation and assessment of employees
Oversees the smooth running of the daily office and shop activities.

Marketing and Sales Officer

Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
Writing winning proposal documents, negotiate fees and rates in line with company policy
Responsible for handling business research, market surveys and feasibility studies for the business
Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
Develops, executes and evaluates new plans for expanding increase sales
Documents all customer contact and information
Represents the company in strategic meetings
Helps to increase sales and growth for the company

Accountant / Cashier:

Responsible for preparing financial reports, budgets, and financial statements for the organization
Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
Responsible for financial forecasting and risks analysis.
Performs cash management, general ledger accounting, and financial reporting
Responsible for developing and managing financial systems and policies
Responsible for administering payrolls
Ensuring compliance with taxation legislation
Handles all financial transactions for the organization
Serves as internal auditor for the organization

Cleaners / Washer man:

Cleans funeral home facilities and grounds.
Handles and move objects, such as glasses, dish and bottles, using hands and arms.
Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
Ensures that toiletries and supplies don’t run out of stock
Responsible for handling laundry
Handles any other duty as assigned by the restaurant manager,

Security Officer:

Ensures that the facility is secured at all time
Controls traffic and organize parking
Gives security tips to staff members from time to time
Patrols around the building on a 24 hours basis
Submits security reports weekly
Any other duty as assigned by the funeral home director.

6. SWOT Analysis

Clarion Call – Funeral Homes is fully aware that they are coming into an industry that can be highly competitive which is why they have decided to pay attention to the SWOT analysis for the organization.

We know that once we are able to identify our strength, our weakness, our threats and the opportunity that is available to us, we will be able to come up with good business strategies that will help us achieve all our business goals and objectives.

We know that if we get things right before starting our funeral home business, we will not have to struggle before attract loyal clients and building our membership base to a level where we can easily breakeven in record time.

We hired the services of Dr. Garry Larson, an HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Clarion Call – Funeral Homes Cape May, New Jersey;

Our area of strength cannot be farfetched; the location of our funeral home services is perfect for such business, our management team has robust experience in the funeral home services industry, our customer’s services is second to none in the whole of Cape May – NJ and our facility is top notch.

We critically looked into our Business model and we were able to identify two major weakness. One is the fact that we are a new business and the second is the fact that we may not have the financial resources required to match up with existing and leading funeral homes in Cape – May, New Jersey and also generating the needed hypes that can drive traffic towards our facility.

Opportunities:

One thing is certain; our funeral home facility is well – located in busy hence there are loads of business opportunities for us. Besides we are the only funeral home services within a 45 miles radius where ours is located.

Some of the threats that we are likely going to face as a funeral home business operating in the United States are unfavorable government policies – the government, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

Market Trends

All over the globe people die every now and then and that is one of the reasons why the funeral business will continue to soar higher. It is trendy to find funeral homes in the United States of America and in most parts of the world operate a standard and full option services.

They usually have Wake room: for services and visitations; Preparation room: for embalming and restoration, Merchandise display: caskets and other merchandise that customers may purchase, Privacy room: for the family, Office: for mortician’s personal and administrative use, and Livery: a garage to keep funeral coaches and other vehicles.

We have the required staff strength and we will run a 24 hours a day and seven days a week services. Another trend in the funeral home services industry is that falling per capita income during the recession period and of course a rising number of low-priced cremations are seriously hampering the revenue generated in the industry.

So also, families that are not financially buoyant opt for discount retailers and manufacturers to purchase caskets, which negatively impact revenue generation for funeral home operators. However, the industry’s revenue is projected to grow slightly in the next five years.

Lastly, funeral homes in the United States of America are traditionally run by families except for few instances and there are various insurance companies that have funeral insurance policies for their clients. Building a good working relationship with them will position your funeral home to help them handle some of their policy holders.

You can also help them market their funeral insurance cover with the agreement that you will be the one to handle the funerals of the customers you bring to them. This is of course will be a win-win for both parties, and every business person would want to go into such agreement.

8. Our Target Market

We look forward to dealing with those that we plan to focus on in this trade. It will be safe to say that the target market for funeral home services cuts across people of all class, race, religion, and culture as long as they value their deceased loved ones and would want to give them befitting burial or cremation as required.

In view of that, we have conducted our market research and we have ideas of what our target market would be expecting from us. These are the groups of people we intend marketing our funeral home services to;

Insurance companies
Owners of mortuaries
Retirees and Pensioners
Corporate Executives
Government Officials
Business People
Celebrities
Military Men and Women
Sports Men and Women
Everyone who resides in our target locations.

Our Competitive Advantage

There isn’t a business on this face of the earth that doesn’t encounter one form of competition of the other. However, it is the ability to be able to stand the test of time in the face of competition that will stand us out anytime anyway. The competitive edge of Clarion Call – Funeral Homes is the excellent and customized service that we offer to all our guest irrespective of their status, religion, race or political affiliation.

We can boldly say that the location of our funeral home services is perfect for such business, our management team has robust experience in the funeral home services industry, our customer’s services is second to none in the whole of Cape May – NJ and our facility is top notch. We are the only funeral home services within our location.

Another significant competitive advantage that we are bringing to the industry is the robust experience of our management team. We have a team that has a combination of 25 years of experience in the funeral home services industry in United States and Canada. They are considered core professionals in their own right.

9. SALES AND MARKETING STRATEGY

Sources of Income

We believe that it is very vital to identify our sources of income from the very beginning, so that we will not run into problems. Clarion Call – Funeral Homes is established with the aim of maximizing profits in the funeral home services industry and we are going to go all the way to ensure that we do all it takes to attract guests on a regular basis and sign retainer – ship with most of our corporate clients.

Clarion Call – Funeral Homes will generate income by offering the following services for individuals, families and for corporate organizations;

10. Sales Forecast

We know that sitting on the table and forecasting the sales that we desire will help us draw up good goals for our funeral business.

That is why we are well positioned to take on the available market in Cape – May, New Jersey and beyond and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the funeral home market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Cape May – New Jersey.

Below is the sales projection for Clarion Call – Funeral Homes, it is based on the location of our business consulting firm and the wide range of consulting services that we will be offering;

First Year-: $150,000
Second Year-: $250,000
Third Year-: $750,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Marketing Strategy and Sales Strategy

It is important to clearly state that in this dispensation, customers use the Internet to find funeral homes, to read reviews, to view facility available and the location of the funeral home; loads of processes have gone digital. Which is why most bed and breakfasts are increasingly adopting technology and the internet for marketing and advertising their business and we are not going to be left out.

We are quite aware that one of the ways to get people to patronize your funeral home is to build good business relationship with owners of mortuaries. Having a good working relationship with people who mortuaries will enable them refers people to you; since their job is to preserve corpses and yours is to conduct a befitting burial.

We will go all out to strike a deal with them that will ensure that they get a commission for any referral we get from them. These are some of the marketing ideas and strategies that are going to adopt for our bed and breakfasts business;

Open our funeral home in a grand style with a party for all.
Advertise our funeral home in relevant magazines, national dailies, Satellite TV stations and Radio station
Promote our business online via our official website and all available social media platform
Continuously Improving the performance of our brands
Hire the services of experts to make our brands the first choice for families and corporate organizations
Delivering consistent customer experiences to all our clients; making our first impression count positively
Continuously Improving the efficiency of our funeral home services and operating processes
Ensure that we put our market scale and knowledge to good use
Building strong partnerships within our industry and with our stakeholders across the United States of America
Make use of attractive hand bills to create awareness and also to give direction to our funeral home
Position our signage / flexi banners at strategic places in and around Cape – May, New Jersey
Create a loyalty plan that will enable us reward our corporate clients such as insurance companies and owners of mortuaries
Engage on road shows within our neighborhood to create awareness for our funeral home business.

11. Publicity and Advertising Strategy

Advert and marketing is one of the backbone of all businesses. It is also the backbone of ours because we know that if we are able to get the right world’s pout there, people will come for us. Clarion Call – Funeral Homes is in the funeral home business to make profit and we can only make profit if we steadily increase our customer base.

No doubt, in order to remain relevant in the funeral home industry in Cape May – New Jersey, we will continue to create hype around our business brand.

We will ensure that we leverage on all conventional and non – conventional publicity and advertising technique to promote our bed and breakfast brand. Here are the platforms we intend leveraging on to promote and advertise Clarion Call – Funeral Homes;

Encourage our loyal customers to help us use Word of Mouth (referrals)
Advertise our funeral home business in relevant magazines, national dailies, Satellite TV stations and Radio station
Promote our business online via our official website
Sponsor relevant community programs
Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
Install our Bill Boards on strategic locations
Engage in road show from time to time
Distribute our fliers and handbills in target areas

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in the United States of America.

Be that as it may, we have put plans in place to discount our products and services once in a while and also to reward our loyal customers (corporate clients such as insurance companies and owners of mortuaries.

Payment Options

We want to make our payment mode as simple and free for all as possible. That is why at Clarion Call – Funeral Homes, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them.

Here are the payment options that will be available in every of our bed and breakfast lodge;

Payment by cash
Payment by check
Payment via Point of Sale (POS) Machine
Payment via online bank transfer (online payment portal)
Payment via Mobile money

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any difficulty.

13. Startup Expenditure (Budget)

When it comes to starting a funeral home business, loads of factors influences the amount that will be required to successful launch the business.

Factors like the location you intend starting the business, the size of the funeral home business you want to start i.e. the number of employees and facilities et al, and of course the state of the economy as at when you intend start the business. Here are the key areas where we intend spending our start – up capital;

The Fee for registering the business in the United States -$725.
The budget for legal fees, insurance, permits and license – $5,000
The cost of leasing a facility – 100,000
The amount needed to renovate our Facility (electrical, furnishings, plumbing, painting and landscaping) – $10,000.
The Cost for the purchase of furniture and equipment – $10,000
Other start-up expenses including stationery – $1000
Phone and utility deposits – $3,500
The Cost for initial inventories and supplies – $10,000.
The Cost of Launching a Website – $600
The cost opening party – $5,000 (optional)
Cost for payment of salaries for the first 3 months of operations – $50,000
Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $5,000

Going by the report from our research and feasibility studies, we will need an average of $200,000 to start a small scale but standard bed and breakfasts business in the United States of America.

Generating Funding / Startup Capital for Clarion Call – Funeral Homes

We at Clarion Call – Funeral Homes, will leave no stone unturned in generating our funds rightly. Our business is a family business that will be owned by Mr. Arthur Stamford and his family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

Generate part of the start – up capital from personal savings and sale of his stocks
Generate part of the start – up capital from friends and other extended family members
Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $50,000 (Personal savings $45,000 and soft loan from family members $5,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

We know that one of the marks of a successful business is the ability to expand far and wide. The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure.

If all of these factor are missing from a business (company), then it won’t be too long before the business close shop. One of our major goals of starting Clarion Call – Funeral Homes is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer nothing short of excellent services.

Clarion Call – Funeral Homes will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Remodeling our facility: In Progress
Conducting Feasibility Studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
Recruitment of employees: In Progress
Purchase of the Needed furniture, mattress, bed sheets, pillows, duvets, electronic appliances, office appliances and kitchen utensils: In progress
Creating Official Website for the Company: Completed
Creating Awareness for the business both online and in the neighborhood: In Progress
Health and Safety and Fire Safety Arrangement (License): Secured
Opening party / launching party planning: In Progress
Establishing business relationship with vendors – suppliers of all our needed food ingredient for breakfast and toiletries: In Progress.

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The financial plan for a funeral home business.

Running a compassionate and dignified funeral home is not only about providing a respectful farewell to loved ones; it's also about managing the business with financial wisdom.

In this post, we'll explore the critical elements of developing a financial strategy that ensures your funeral home can serve the community sustainably.

From grasping the initial investment costs to handling day-to-day financial operations and anticipating market changes, we're here to assist you in navigating each aspect.

Let's embark on the journey to ensure your funeral home is not only a pillar of support for those grieving but also a financially stable establishment.

And if you wish to obtain a comprehensive 3-year financial analysis for your funeral home without delving into complex calculations yourself, please download our specialized financial plan designed for funeral homes.

What is a financial plan and how to make one for your funeral home business?

A financial plan for a funeral home business is a critical tool that guides you through the financial aspects of running your funeral services.

Think of it as charting the course for a solemn journey: You need to understand the resources at your disposal, the services you wish to offer, and the costs involved in providing dignified and respectful funeral arrangements. This plan is essential when starting a new funeral home, as it helps turn your dedication to providing compassionate care into a structured and sustainable business.

So, why create a financial plan?

Imagine you're about to open a funeral home. Your financial plan will help you grasp the costs involved - such as purchasing or leasing a facility, acquiring funeral vehicles, caskets, and other necessary equipment, initial staffing expenses, and marketing. It's like assessing your resources and budget before embarking on a sensitive and important service.

But it's more than just adding up costs.

A financial plan can provide crucial insights similar to learning a vital aspect of funeral care. For example, it might show that offering extravagant casket options is cost-prohibitive, leading you to focus on high-quality, yet affordable alternatives. Or, it could reveal that a large staff is not needed initially, saving on labor costs.

These insights help you avoid overspending and overstaffing.

Financial plans also serve as a forecasting tool to identify potential risks. Suppose your plan suggests that achieving your break-even point – where your income equals your expenses – is only feasible if you conduct a certain number of services each month. This highlights a risk: What if the demand is lower than expected? It encourages you to consider alternative services, like pre-planned funerals or memorial services, to supplement income.

How does this differ for funeral homes compared to other businesses? The main difference lies in the nature of the costs and the revenue pattern.

That’s why the financial plan our team has developed is specifically designed for the funeral home industry . It can't be applied universally to all types of businesses.

Funeral homes have unique expenses such as mortuary equipment, special facilities for viewing and ceremonies, and compliance with specific health and funeral service regulations. Their revenue may also vary - consider how local demographics and cultural practices might influence demand. This contrasts with, say, a tech store, where products don't have such specific usage constraints and sales trends could be more predictable.

Clearly, our financial plan takes into account all these unique aspects when it has been formulated. This enables you to create accurate financial projections tailored to your new funeral home venture.

What financial tables and metrics include in the financial plan for a funeral home business?

Creating a financial plan for a new funeral home is an essential step in ensuring the success and sustainability of your business.

Understand that your future funeral home's financial plan is more than just numbers on paper; it's a roadmap that guides you through the initial stages and helps in maintaining the business over time.

Let's begin with the most fundamental component: the startup costs. This includes everything you need to open your funeral home for the first time.

Consider the costs of purchasing or leasing a facility, acquiring funeral vehicles, caskets, and other essential equipment, interior furnishings, and even signage. These costs give you a clear picture of the initial investment required. We have already outlined them in our financial plan , so you don’t need to search elsewhere.

Next, think about your operating expenses. These are ongoing costs that will occur regularly, such as employee salaries, utility bills, maintenance of facilities and vehicles, and day-to-day operational costs. It’s crucial to have a good estimate of these expenses to understand how much your funeral home needs to earn to be profitable.

In our financial plan, we've filled in all these values, so you'll have a good idea of what they should represent for a funeral home. Naturally, these can be adjusted in the 'assumptions' tab of our financial plan.

One of the most important tables in your financial plan is the cash flow statement (included in our financial plan). This table shows how cash is expected to flow in and out of your business.

It’s a monthly (and annual) breakdown that includes your projected revenue (how much money you expect to make from funeral services) and your projected expenses (the costs of operating the funeral home). This statement is crucial for anticipating periods when you might need additional cash reserves or when you can plan for upgrades or expansions.

Another key table is the profit and loss statement, also known as the income statement, which is also included in our financial plan.

This official financial table gives you an idea of how profitable your funeral home is over a certain period. It lists your revenues and subtracts the expenses, showing whether you're making a profit or a loss. This statement is particularly important for understanding the financial health of your funeral home over time.

Lastly, consider the break-even analysis (also included, of course). This calculation tells you how much revenue your funeral home needs to generate to cover all of its costs, both initial and ongoing. Knowing your break-even point is crucial as it gives you a clear sales target to aim for.

We've also included additional financial tables and metrics in our financial plan (provisional balance sheet, financing plan, working capital requirement, ratios, charts, etc.), providing you with a comprehensive and detailed financial analysis of your future funeral home.

Can you make a financial plan for your funeral home business by yourself?

Yes, you certainly can!

As highlighted earlier, we have developed a user-friendly financial plan specifically tailored for funeral home business models .

This plan includes financial projections for the first three years of your funeral home's operation.

Within the plan, you'll find an 'Assumptions' tab that contains pre-filled data, covering revenue assumptions, a comprehensive list of potential expenses relevant to funeral homes, and a staffing plan. These figures are designed to be easily customizable to match your specific business needs.

Our thorough financial plan incorporates all the critical financial tables and ratios necessary for a funeral home, including the income statement, cash flow statement, break-even analysis, and a provisional balance sheet. It's designed to be compatible with loan applications and is user-friendly for entrepreneurs at all levels, including those with no previous financial experience.

The process is automated to avoid the need for manual calculations or complex Excel formulas. Simply enter your data into the designated fields and choose from the provided options. We have made the process straightforward and accessible, even for those not accustomed to financial planning tools.

If you encounter any issues, please feel free to contact our team. We commit to responding within 24 hours to assist with any difficulties. In addition, we offer a complimentary review and correction service for your financial plan after you have completed all your assumptions.

What are the most important financial metrics for a funeral home business?

Succeeding in the funeral home business requires a blend of compassionate service and astute financial management.

For a funeral home, certain financial metrics are especially crucial. These include your revenue, cost of services (COS), gross profit margin, and net profit margin.

Your revenue encompasses all income from funeral services and related offerings, providing a clear view of the market's response to your services. COS, which includes the cost of caskets, cremation, labor, and other direct service costs, is vital for understanding the direct costs linked to your services.

The gross profit margin, calculated as (Revenue - COS) / Revenue, indicates the efficiency of your service provision, while the net profit margin, the percentage of revenue remaining after all expenses, reflects your overall financial health.

Projecting sales, costs, and profits for the first year involves detailed analysis. Begin by examining the local market and your target demographics. Estimate your sales based on factors like community needs, local competition, and pricing strategies.

Costs should be categorized into fixed costs (like facility lease and utilities) and variable costs (like supplies and hourly labor). Be cautious in your estimates, and account for variations in demand and costs throughout the year.

Creating a realistic budget for a new funeral home is vital.

This budget should cover all anticipated expenses, including facility lease, utilities, equipment, initial inventory of caskets or urns, labor, marketing, and an emergency fund. It's also crucial to set aside funds for unforeseen expenses. Keep your budget flexible and review it frequently, adjusting based on actual performance.

In financial planning for a funeral home, key metrics include your break-even point, cash flow, and inventory management.

The break-even point helps determine how many services you need to provide to cover your costs. Positive cash flow is essential for day-to-day operations, while efficient inventory management is key to avoiding oversupply or shortages.

Financial planning can vary greatly among different types of funeral homes.

For instance, a funeral home focusing on budget services might prioritize low-cost supplies and high-volume services. In contrast, a premium funeral home might have higher costs for luxury caskets and personalized services, focusing on higher pricing and customer experience.

Recognizing signs that your financial plan might need adjustment is crucial. We have listed these indicators in the “Checks” tab of our financial model. This provides you with guidelines to quickly correct and adapt your financial plan to ensure accurate metrics.

Red flags include consistently missing revenue targets, rapidly depleting cash reserves, or inventory issues, such as stock shortages or excessive unsold items. If your actual numbers consistently diverge from your projections, it's a clear sign that your financial plan requires revision.

Lastly, the key indicators of financial health in a funeral home's financial plan include a stable or increasing profit margin, a healthy cash flow that comfortably covers all expenses, and consistently meeting or exceeding service provision targets.

Don't worry, all these indicators are included in our financial plan , and you can adjust them as needed to align with your funeral home's performance and objectives.

You can also read our articles about: - the business plan for a funeral home business - the profitability of a a funeral home business

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A Look into the Benefits of Creating a Memorial Plan

Death can arrive when you least expect it and when someone passes away, their loved ones are left with the difficult task of planning the funeral and the memorial service.

However, many funeral homes now have the option of creating a memorial plan. The memorial service is an event that can take place before or after the funeral. During the memorial service, family members and friends share stories about their lost loved one and celebrate who they were as a person and how they lived. It’s a very meaningful event that can help the loved ones of the deceased support each other and come to terms with their loss.

Along with funeral services, you may also be able to plan out your memorial and decide how you want to be remembered and honored to better prepare your loved ones for the unfortunate circumstances of your death.

Now let’s explore the benefits of creating a plan for your memorial service before your passing and how the planning process goes.

1. What are the main benefits of a memorial plan?

Memorial planning can offer many benefits to both you and your loved ones; these include:

Less Stress for Your Family

Planning a memorial service not long after losing a loved one can be very difficult to do. While dealing with the grief and the shock of the loss, putting together a plan can feel overwhelming.

By planning your memorial, you can save your loved ones the stress of having to plan it out at the last minute. This will also give them more time to grieve and support each other during this difficult time.

Clear Communication of Wishes

When you plan your memorial, everything you want to be included in it will be written down—this will save your loved ones time spent on guesswork. Also, your loved ones will have some peace of mind knowing that the memorial service will be held exactly according to your requirements.

Secure Finances

Memorial services can be expensive, but by pre-planning your memorial service, you can pre-fund it partially or completely. This can help take some of the financial burden from your family.

Personalized Farewell

When planning your memorial, you can create a roadmap that tells your loved ones exactly how you want the service to be carried out, where you want it to be held, who should be invited to speak, which songs should be played, and even how you want your memorial program to be designed to reflect your unique personality.

Open Communication

Planning a memorial service allows you and your family to come together and discuss the difficult topic of death. During this time, you and your family can understand each other’s wishes and decide what should be included in the memorial service.

Flexible Process

Premade memorial planning is a flexible process. You can make changes any time you want and you can also make pre-payments to funeral homes so that your loved ones won’t have to won’t get caught off-guard by memorial costs.

2. What are the practical benefits of making memorial plans?

The benefits of early planning go beyond emotions—it can have several practical benefits too:

Today’s Costs

Memorial services can rise in cost over time, so by planning your memorial service, you may be able to lock in current prices. Doing so will give your loved ones some financial relief.

Simplified Logistics

Plans can make the logistical aspects of memorial services easier to navigate. The plan will mention which venue to book, where flowers for the service should be bought from, and where to hire transportation for attendees.

Family Traditions

The plan you create could be used by other family members and their descendants. This can help save them time and effort in the planning process since everything they need to know is already there in writing.

3. What does the memorial planning process entail?

Now that you know about the benefits of planning your memorial, let’s look at the process:

Self-Reflection

Sit down and think about what you want for your memorial service. Here are some questions you might want to consider:

Where do you want the memorial to be held?
Would you like to have any cultural or religious traditions to be included?
Who will you choose to officiate the memorial?
Do you want there to be readings and eulogies?

If it helps, try to discuss these questions with a close friend or family member—it may make the process a bit easier.

Do Your Research

Once you’ve noted down your wishes, you should do some research. Look for a good funeral home that can help with memorial and funeral planning and find a good location for the memorial to take place.

Consider Finances

Look at your budget and determine how your money should be set aside for the memorial service. In addition, speak to funeral homes about the funeral and memorial service packages they offer.

Document Your Wishes

After deciding on what you want for the memorial, put it down in writing, and if you can, try to make the document legal. This document can be given to your relatives or to a funeral home so that your memorial service can be planned exactly how you want it.

Share the Plan

Once you’ve finalized the plan for your memorial, discuss it with your family. Give them several copies of the plan and see if they’re confident with its proceedings.

Frequently Asked Questions

Below are some commonly asked questions and answers about the benefits of creating a memorial plan:

How can I make sure my loved ones find the plan for my memorial service?

You can put the plan into a physical document and give it to your family or have a lawyer hold it for you until it’s needed. Also, you should keep a digital copy of the plan as a backup and email it to a close friend or family member.

Will I need to plan my memorial if I plan on being cremated?

The memorial can be held after the cremation so a body will not need to be present. Regardless of how you want to be laid to rest, you can always plan your memorial service.

If I’m a veteran, should the plan acknowledge my military background?

Absolutely. The plan will detail for your loved ones which military honors you will be entitled to at the memorial service.

Work with a funeral home to make your memorial plan

Planning your memorial can be difficult to do. You might not always know what you want and how to go about it. Fortunately, professional funeral service providers like funeral homes may be able to help you navigate planning your memorial service, saving you and your family a lot of stress.

Get in touch with a well-reputed funeral home in Pittsburgh today.

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Funeral plans announced for 11-year-old killed at Paulding County home

Zander Whatley

PAULDING COUNTY, Ga. — The family of a Paulding County 11-year-old who was shot and killed inside his home on April 29 announced plans for his funeral Friday morning.

According to the family, Zander Whatley of Douglasville was shot and killed when a shooter or shooters opened fire on his home in Paulding County.

The Hal Hutchens Elementary School fifth grader was described as a proud member of the Student Council, as well as an athlete.

[DOWNLOAD: Free WSB-TV News app for alerts as news breaks ]

The family said Whatley played soccer, baseball and football.

In addition to his sports activities, Whatley “loved the Lord, singing, TikTok, school, his family and his friends.”

Delta flight makes emergency landing at Atlanta airport

Woman found living in store sign with computer, coffee maker for around a year

A balloon release will be held Friday in Whatley’s honor at Rockmart High School on Cartersville Highway at 6 p.m. There will be a public viewing before the balloon release from noon to 6 p.m., according to the family.

A celebration of life and funeral service for Whatley will be held Saturday, on what would have been his 12th birthday.

A second public viewing will be held at 1 p.m. at the Rockmart High School Gymnasium, followed by a 2 p.m. service at the high school.

Whatley’s family asks that anyone with information about his death helps law enforcement catch those responsible by contacting the Paulding County Sheriff’s Office at 770-443-3047.

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IN OTHER NEWS:

Funeral plans announced for US airman who was shot and killed by a Florida deputy

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Grand jury decides not to indict north Georgia councilwoman arrested on drug charges

‘There were people doing yard work’; Witnesses describe quadruple shooting involving Atlanta Police

Cobb Sheriff says homeless terminally ill man arrested on purpose for healthcare, he’s not alone

3 dead after driver flees from GA police, crashes vehicle as car goes up in flames

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5 Best Burial Insurance Companies of May 2024

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If you want to buy life insurance purely to cover your funeral costs, medical bills and other end-of-life expenses, look into burial insurance. Also known as final expense insurance, these policies are designed for seniors who need only a small amount of coverage, and not all insurers offer them.

To narrow down the list of the best burial insurance policies, our experts analyzed policy features, age and state availability, and added value — such as free life insurance riders . We also looked at payment options and the amount of coverage you can buy, which typically starts at $1,000 and maxes out at $50,000 for this type of life insurance.

» MORE: Is burial insurance worth it?

The best burial insurance in May 2024

How we ranked the top life insurers.

NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.

These ratings are a guide, but we encourage you to shop around and compare life insurance quotes from several companies to find the best rate for you. NerdWallet does not receive compensation for any reviews.

In our life insurance reviews, our editorial team considers the customer and the insurer. These are some of the factors we take into account:

Policies offered. There are many types of life insurance on the market, and they fall into three key categories:

Term life insurance offers temporary coverage and a guaranteed payout if the policyholder dies during the term.

Permanent life insurance typically lasts a lifetime and builds cash value that can be borrowed against in the future.

No-exam life insurance issues coverage without the need for a medical exam.

Financial strength. We use AM Best ratings to confirm an insurer’s long-term financial stability and ability to pay claims. For life insurance, NerdWallet typically recommends considering insurers with ratings of A- or higher. Here’s the breakdown:

Exceptional: A+, A++.

Strong: A-, A.

Moderate: B, B+.

Complaints. These ratings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. The best life insurance companies have fewer than the expected number of complaints.

Buy online. This indicates whether an insurer allows you to apply for and buy a policy completely online.

Dive deeper: Ratings methodology for life insurance

» MORE: Best life insurance companies in 2024

Best burial life insurance policies for 2024

Learn more about each company in our list by reading the brief summaries below and checking out the NerdWallet review links.

State Farm: Best for customer satisfaction

AARP/New York Life: Best for low consumer complaints

American Family: Best for bundling

Ethos: Best for instant coverage

Mutual of Omaha: Best for accessibility

on Nerdwallet

Financial strength rating These ratings indicate an insurer’s ability to pay future claims.

Online purchase This indicates whether the company offers a way to apply for and purchase policies entirely online.

NAIC complaints Ratings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.

Policies offered Term policies last a set number of years, while permanent policies typically last a lifetime. No-exam policies don’t require a medical exam.

Drew fewer life insurance complaints to state regulators than expected for a company of its size.
Ranked first in J.D. Power’s latest customer satisfaction study for life insurance.
Broad range of term products, including instant answer life insurance.
Life insurance policies not available in Massachusetts.
Some restrictions for Android smartphones when accessing policy details through online portal.

Company overview: State Farm consistently ranks No. 1 in J.D. Power’s annual customer satisfaction study for individual life insurance.

State Farm’s burial insurance policy earns cash value over time, and once you’ve accumulated enough, you can take out loans or withdraw money from that fund during your lifetime. Since State Farm is a mutual company, your policy might also pay out dividends based on the insurer’s financial performance.

Policy name: Guaranteed Issue Final Expense Life Insurance (known as $10,000 Whole Life in New York).

Eligibility age range: 45 to 80 (50 to 75 in New York).

Coverage amount: $10,000 ($15,000 in some states).

Availability: All states. Note: State Farm isn’t offering policies to new customers in Massachusetts or Rhode Island.

» Read the full review: State Farm life insurance review

↑ Back to top

No medical exams required.
Fewer than the expected number of complaints to state regulators.
Anyone age 50 and up can get access through AARP membership.
Term life insurance premiums rise every five years.

Company overview: Open to AARP members as part of a partnership with New York Life, this policy is a type of group life insurance. You’re guaranteed to be accepted as long as you’re an AARP member who meets the age requirements, and coverage typically lasts your entire life. In most states, AARP also allows members’ spouses who are 45 to 80 to apply for a policy. In New York, the age eligibility for spouses is slightly different: 50 to 75.

Policy name: Guaranteed Acceptance Life Insurance.

Eligibility age range: 50 to 80 (50 to 75 in NY).

Coverage amount: Up to $25,000. You may be able to request a higher coverage amount by calling New York Life on 1-800-607-6957.

Availability: Not available in all states. Non-members in Arkansas, Louisiana and Oregon may not be eligible.

» Read the full review: AARP/New York Life insurance review

American Family Life Insurance

Fewer customer complaints than expected for a company its size.
Offers a variety of term and whole life options.
Not available in all states.

Company overview: American Family received fewer complaints to state regulators for a company of its size, making it a trustworthy choice. The company sells a range of insurance products, including vehicle insurance, property insurance and business insurance. In some cases, you can bundle your policies and save money.

Policy name: DreamSecure Senior Whole Life Insurance.

Eligibility age range: 50 to 80.

Coverage amount: $10,000 or $15,000.

Availability: Arizona, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, Nevada, North Carolina, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Texas, Utah, Virginia, Washington and Wisconsin.

» Read the full review: American Family insurance review

No medical exam required.
Fully digital application.
Offers both term and whole life insurance online.
No live chat feature, which is unusual for insurtechs.
Can't customize coverage with riders.

Company overview: Ethos’ whole life application takes five minutes to complete and coverage goes into effect once you pay the first premium, making this policy ideal for those who need a policy quickly. You don't need to take a life insurance medical exam . You stop paying premiums at age 100, and the coverage stays intact.

Policy name: Guaranteed Issue Whole Life.

Eligibility age range: 65 to 85.

Coverage amount: $10,000 to $25,000.

Availability: Not available in New York.

» Read the full review: Ethos life insurance review

Mutual of Omaha

Whole life insurance available without a medical exam.
Ranks highly in J.D. Power’s latest consumer satisfaction study.
Close to the expected number of complaints for life insurance for a company of its size.
No online quotes for term life insurance.

Company overview: Mutual of Omaha’s broad issue age range means people can get a policy at a younger age, when rates are likely to be cheaper. You can buy as little as $2,000 in coverage — making this option good for those who don’t need too much life insurance.

The insurer says it pays roughly 80% of claims within 24 hours, which can help your loved ones cover your funeral costs and any other immediate expenses when you die.

Policy name: Guaranteed Whole Life Insurance.

Eligibility age range: 45 to 85 (50 to 75 in New York).

Coverage amount: $2,000 to $25,000 ($5,000 to $25,000 in Washington).

Availability: All states.

» Read the full review: Mutual of Omaha life insurance review

Alternatives to the best burial insurance

Final expense policies are designed to help you cover the costs of your own funeral and burial, but they’re expensive and capped at small amounts so they don’t suit everyone. If you crunch the numbers and decide you need more life insurance, you can apply for a traditional term life insurance or permanent life insurance policy.

» MORE: Best life insurance companies for seniors

More about top-rated life insurance companies

Looking for a specific type of life insurance policy? Check out NerdWallet’s top picks across these categories:

Best life insurance companies .

Best term life insurance companies .

Best whole life insurance companies .

Best burial life insurance companies .

Best life insurance for seniors .

Best instant life insurance .

Best no-medical exam life insurance .

Best return-of-premium life insurance .

Best life insurance for children .

Best accidental death and dismemberment insurance .

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2020-2022. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

Burial policies cover end-of-life expenses, like funerals or lingering medical bills. These policies are relatively small, usually in the $1,000 to $50,000 range, which means they have limited application beyond those final expense needs.

Burial insurance that doesn’t require a medical exam can be more expensive per dollar of coverage than many other life insurance policies. For instance, a healthy 50-year-old woman might pay about $360 a year for $10,000 in guaranteed issue life insurance , according to data from Choice Mutual, a brokerage specializing in burial insurance coverage. To compare, a $250,000 whole life policy would cost her about $4,740 — over ten times as much per year but for 25 times as much coverage.

The cheapest burial insurance will depend on your needs and health. While many policies can be issued with no medical questions or exams, they're usually much more expensive. The best way to get cheap life insurance coverage for any type of policy is to shop around.

guaranteed issue life insurance

, according to data from Choice Mutual, a brokerage specializing in burial insurance coverage. To compare, a $250,000 whole life policy would cost her about $4,740 — over ten times as much per year but for 25 times as much coverage.

The cheapest burial insurance will depend on your needs and health. While many policies can be issued with no medical questions or exams, they're usually much more expensive. The best way to get

cheap life insurance

coverage for any type of policy is to shop around.

Methodology

Compare term life insurance rates

Get free quotes from top companies.

ON A SIMILAR NOTE...

Dive even deeper in insurance, compare life insurance quotes, life insurance policies and quotes for 2024, 7 best term life insurance companies in may 2024.

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Lawsuits complicate construction plans at St. Pete’s Sundial

Teghan Simonton Times staff

The new owners of the Sundial shopping plaza in downtown St. Petersburg are tussling with the owner of the AMC Sundial 12 movie theater in the courts.

Sundial’s owners claim that the theater’s owners are using “obstructionism” and “thinly veiled delay tactics” to slow the new owner’s renovation plans for the shopping center, filings show.

Last month, the owner of the movie theater, Florida 2005 Theaters LLC, sued the mall operator in Pinellas County Sixth Judicial Court for what it claimed was a violation of its existing easement agreement. Florida 2005 is linked to Carlyle Group, a New York-based investment firm.

The agreement was first forged between the theater’s former owners, Muvico Entertainment LLC, and Sundial’s former owner, STP Redevelopment. It required most restaurants to be on the second floor of the complex and barred significant changes to Sundial’s common areas without Muvico’s consent. In court records, the current owner said it is “successor in interest to Muvico” and that Sundial owners are still subject to the easement.

In January, the theater owners learned that Sundial’s renovation plans included space for an open-air bar or restaurant, which sparked months of discussions between the companies. Ally Capital Group, a Tampa-based real estate investment firm, is partnering with Paradise Ventures, a St. Petersburg-based firm, on the renovations.

The theater owners feared the restaurant would detract from AMC’s family environment and would affect movie sales. They also complained about a walkway to the theater entrance that was blocked off amid construction, court records show.

“In over 20 years of ownership at this location, it has been the experience of Florida 2005 Theaters that establishments generating a high percentage of revenue from alcohol sales have a detrimental impact on the surrounding tenants,” an attorney for the theater wrote to Michael Connor, president and CEO of Paradise Ventures.

In an interview, Connor said the theater owners are trying to push Sundial owners to change their easement agreement, following disagreements about the future of the space.

“It started before we purchased the property,” Connor said.

Connor claimed that before his group purchased the center in 2022, theater owners had hopes to modify the existing easement and turn AMC into residential space.

“They wanted to modify that to allow residential development, and I didn’t want to do that,” he said. “I’ve historically been a retail developer my entire career ... and literally, ever since then, it’s been an adversarial relationship where they’ve tried to tell us what we can and can’t do with the property.”

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The lawsuit, he believes, was filed in “totally, 100% bad faith, to try to coerce us into signing a document that modifies the (easement) in a way I’m not going to sign.”

Renovation for Sundial, located on the 100 block of Second Avenue North, includes multimillion-dollar improvements to revitalize the “once upscale retail destination into a modern mixed-use urban destination,” according a news release from 2023, when the plans were announced. The developers declined to say at the time just how much the renovation will cost. But the plans for the center include significant upgrades to the courtyard with a large outdoor bar and communal green space.

“I live in St. Pete,” Connor said. “I’m at Sundial all the time. This is not just some asset that I don’t care about. I love this piece of real estate, and that’s why we’re spending $3 million on the courtyard.”

Paradise Ventures and Ally Capital Group purchased Sundial from local businessperson Bill Edwards for $27.5 million in 2022. Edwards had owned the 85,357-square-foot shopping center since 2011, and made significant upgrades. The shopping complex was originally built in 2000 and was called BayWalk.

The theater owners claim that Sundial owners would not acknowledge that the theater’s permission was required for the changes. The company has now asked the court to order restaurant construction to halt, and sought other damages.

The attorney listed for Florida 2005 Theaters did not respond to requests for comment.

In a countersuit filed this week, Sundial owners rebut several of the theater owners’ claims. Among them, Sundial owners say that the restaurant planned for the courtyard is not a new space at all, but a vacant space formerly occupied by Locale Market. Sundial owners secured a new tenant for the space, Forbici Modern Italian.

At the time of Locale Market’s closure, the countersuit claims, it was understood that the space would be filled by another food vendor. The easement also includes a line stating permission for such changes should not be “unreasonably withheld or delayed,” court documents said.

Sundial owners also claim they gave theater owners notice of the plan a full year before their lawsuit claims.

“Without valid justification and despite dialogue spanning the course of over a year, Florida 2005 has violated the (easement agreement) by unreasonably withholding approval and consent of PV’s plans for the Forbici Restaurant,” the countersuit states.

In court filings, Sundial owners said adding Forbici Modern Italian to the space would be mutually beneficial, and that the disagreement has now cost them revenue, rent and business relationships.

Connor said the lawsuits should not have any effect on Sundial patrons. Construction is expected to finish in the next two-and-a-half months, he said, so renovations would be complete before the case reaches a courtroom.

“They’ve acted in bad faith for two years. All they want to do is use a reasonable approval right to coerce us to allow them to sell to a residential developer. Enough is enough, right?” Connor said. “I’m not going to try to play nice anymore.”

Teghan Simonton is a data reporter on the business and health team. Reach her at [email protected].

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FTX plans to give customers their money back — with one painful caveat

FTX's lawyers said the company would pay back 98% of creditors at least 118% of what they're owed.
The company said it would have between $14.5 and $16.3 billion available for distribution.
But payments will be based on 2022 crypto values, not what assets are worth now amid price surges.

Lawyers for FTX said on Wednesday that the defunct crypto exchange would pay back its creditors, with interest, in a plan to take the company out of bankruptcy.

The plan, which must first be approved by a bankruptcy court, is for 98% of FTX's creditors — those who are owed $50,000 or less — to receive at least 118% of their money back within 60 days.

The lawyers said FTX would have between $14.5 and $16.3 billion available for distribution — mostly from previous Alameda and FTX Ventures investments.

In March, for example, FTX's bankruptcy estate sold a majority of its shares in the artificial-intelligence startup Anthropic for $884 million. It paid $500 million for the stake back in 2021.

But there's a brutal catch to the paybacks.

Watch: Why Sam Bankman-Fried is facing up to 110 years in prison

Main content

IMAGES

Pro Funeral Home Business Plan Template
Your Ultimate Guide: How to Start a Funeral Home Business
Pro Funeral Home Business Plan Template
Craft a Funeral Services Business Plan Template
How to Start Funeral Home in 10 Steps
Funeral Home Business Plan Template [Updated 2024]

COMMENTS

Funeral Home Business Plan Example
The industry average gross margin for a funeral home is 62.5 percent. The funding of $225,000 requested in this plan is projected to result in an annual net profit of approximately $194,000 in the Center's fourth year of operation, with subsequent increases annually due to inflation.
How To Write A Winning Funeral Home Business Plan + Template
Writing an Effective Funeral Home Business Plan. The following are the key components of a successful funeral home business plan:. Executive Summary. The executive summary of a funeral home business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.
Funeral Home Business Plan Template [2024 UPD]
2.1 The Business. James Funeral Home will be a licensed and registered funeral home based in San Antonio. The business will aim at performing all the funeral rituals including bathing and enshrouding, burial, cremation, etc. Moreover, the business will also provide catering services and transportation.
Funeral Home Business Plan Template [Updated 2024]
Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a funeral home business plan, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of funeral home company that you documented in your company overview.
Funeral Home Business Plan Fully Customizable
A funeral home business plan is a document that outlines detailed information on the services offered by the business, market analysis, management strategies, personnel policies, budget and financing plans, and other relevant topics. The plan should provide a roadmap for the business to follow to successfully operate, grow, and remain ...
The #1 Funeral Home Business Plan Template & Guidebook
To help take the guesswork out of this important endeavor, this guidebook provides a #1 Funeral Home Business Plan Template that is tailored for success. With easy-to-follow instructions, this resource will help aspiring funeral home owners craft a plan of action that will ensure their institution succeeds. Written by:
PDF Funeral Home Business Plan Example
John's Funeral Homes is a registered and licensed funeral home business that will be located in the heart of Cape May - New Jersey in a neatly renovated and secured housing facility; a facility that is specifically designed and equipped with the needed facility for a world-class funeral home services. To unlock help try Upmetrics! .
Your Ultimate Guide: How to Start a Funeral Home Business
Map Out Startup Costs and Business Financing. While startup costs can be intimidating, it's important to remember the financial upside of running a funeral home. Funeral home businesses typically service around 120 funerals per year, with each of those funerals costing around $7,000 to $10,000 for families. Based on that data, funeral homes generate anywhere from $1.5 million to $2 million ...
Funeral Home Business Plan: Guide & Template (2024)
This is the standard funeral home business plan outline which will cover all important sections that you should include in your business plan. Executive Summary. Mission Statement. Vision Statement. Keys to Success. Financial Summary. 3 Year profit forecast. Company Summary. Startup Summary.
Here's how you open a profitable funeral home business
Calculate how much you need to start. On average, the initial capital needed to open a funeral home can vary significantly, ranging from $150,000 to $300,000 for a modest operation to $450,000 to over $1,000,000 for a more comprehensive establishment with high-quality facilities and services.
How to Start a Funeral Home
Step 2: Develop a Funeral Home Business Plan. A business plan is one of the most important steps in starting any business. Developing the funeral home business plan forces you to think through your business concept and other aspects to help you make your business a success including the following sections: Company Analysis - you will document ...
2024 Guide: How to Start a Successful Funeral Home
Step 3: Brainstorm a Funeral Home Name. Here are some ideas for brainstorming your business name: Short, unique, and catchy names tend to stand out. Names that are easy to say and spell tend to do better. Name should be relevant to your product or service offerings.
Funeral Home: get a solid business plan (template)
A business plan is essential before beginning a new project, such as a funeral home business. It should provide a roadmap for the project, outlining the goals, strategies, and resources needed to complete the project. A business plan also helps to identify potential risks and challenges, enabling the business owner to plan and prepare accordingly.
Business Plan Template for Funeral Home Business
ClickUp's Business Plan Template for Funeral Home Business provides the essential elements you need to create a solid plan: Custom Statuses: Track the progress of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do, ensuring that every aspect of your plan is accounted for and managed effectively.
Funeral Home Business Plan [Sample Template]
A Sample Funeral Home Business Plan Template. 1. Industry Overview. A funeral home which can also be referred to as a funeral parlor or mortuary is a business that basically provides interment and funeral services for the dead and their families; these services may include a prepared wake and funeral, and the provision of a chapel for the ...
How to write a business plan for a funeral home?
The written part of a funeral home business plan. The written part of a funeral home business plan plays a key role: it lays out the plan of action you intend to execute to seize the commercial opportunity you've identified on the market and provides the context needed for the reader to decide if they believe your plan to be achievable and your financial forecast to be realistic.
How to Write a Funeral Home Business Plan
The first section of your funeral home business plan should be the executive summary. This section should provide a brief overview of your business, including your business goals and objectives. It should also include a brief description of your target market and your competitive advantage. Although the summary comes first, almost everyone ...
A 3-Year Financial Plan For A Funeral Home Business
Your financial plan will help you grasp the costs involved - such as purchasing or leasing a facility, acquiring funeral vehicles, caskets, and other necessary equipment, initial staffing expenses, and marketing. It's like assessing your resources and budget before embarking on a sensitive and important service.
Funeral Homes in Moscow, Pennsylvania
Browsing 1 - 10 of 10 funeral homes near Moscow, Pennsylvania. Duffy & Snowdon Funeral Home. 401 Church St. Moscow, PA 18444. Brian Arthur Strauch Funeral Home & Cremation Services. 3 First St. Moscow, PA 18444.
A Memorial Plan
Look for a good funeral home that can help with memorial and funeral planning and find a good location for the memorial to take place. Consider Finances. Look at your budget and determine how your money should be set aside for the memorial service. In addition, speak to funeral homes about the funeral and memorial service packages they offer.
Frequent Questions
A funeral home is a 24-hour, labor-intensive business, with extensive facilities (viewing rooms, chapels, limousines, hearses, etc.), these expenses must be factored into the cost of a funeral.
Moscow & Scranton, PA Funeral Home & Cremation
If you have any questions or prefer to speak with someone directly, please call me directly at 570-842-8501. Kevin J. Duffy. President/Owner. Duffy & Snowdon Funeral Homes in Moscow & Scranton, PA provides funeral, memorial, aftercare, pre-planning, and cremation services in Moscow, Scranton and the surrounding areas.
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All Obituaries
1225 East 6th Street. Moscow, ID 83843. All Obituaries - Short's Funeral Chapel offers a variety of funeral services, from traditional funerals to competitively priced cremations, serving Moscow, ID and the surrounding communities. We also offer funeral pre-planning and carry a wide selection of caskets, vaults, urns and burial containers.
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Pay for your own funeral and burial costs with a final expense policy from one of our top-rated insurers. Many or all of the products featured here are from our partners who compensate us. This ...
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