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Launching a Funeral Parlor in 2024: Your Step-by-Step 

Disclosure: Small Business Philippines strives to provide relevant and accurate information in all its articles. However, some information in our articles may differ or might be outdated from what you can see or read directly from the establishments’ or businesses’ websites. Please get in touch with us directly for any discrepancies.

Starting a funeral parlor is an opportunity to provide a crucial service to your community, helping families during one of their most challenging times. It is a business that requires empathy, compassion, and professionalism. By venturing into this field, you can create a meaningful impact on people’s lives while building a sustainable business.

When is the Right Time to Start a Funeral Parlor?

Where to establish your funeral parlor, 1. research and planning, 2. legal and licensing requirements, 3. facilities and equipment, 4. staffing and training, 5. services offered, 6. partnering and networking, 1. cultivate empathy and compassion, 2. marketing and branding, 3. cultural sensitivity, 4. professionalism and transparency, key takeaways.

The demand for funeral services is constant, regardless of the economic situation. However, before diving in, conduct market research to assess the need for a funeral parlor in your area. Consider factors such as demographics, population size, and cultural practices related to death and funeral arrangements.

Choosing the right location is crucial for the success of your funeral parlor. Opt for a spot that is easily accessible to families and has sufficient space for parking and service facilities. It’s also essential to comply with local zoning regulations and obtain the necessary permits.

How to Start a Funeral Parlor: Step-by-Step Guide

Begin by researching the funeral industry, understanding your target audience, and identifying your unique selling points. Create a business plan that outlines your goals, services offered, pricing, and marketing strategies.

Comply with all legal and regulatory requirements for operating a funeral parlor in the Philippines . This includes obtaining business permits , securing the necessary licenses, and adhering to health and safety standards.

Invest in facilities and equipment that align with your business plan . This may include viewing rooms, embalming facilities, caskets, urns, transportation vehicles, and multimedia equipment for memorial services.

Hire compassionate and empathetic staff who can provide excellent customer service and support to grieving families. Provide ongoing training to ensure professionalism and expertise in all aspects of funeral arrangements.

Diversify your services to cater to various cultural and religious practices. Offer traditional burial options, cremation services, and memorial ceremonies. Provide customizable packages to accommodate different budgets and preferences.

Establish partnerships with hospitals, nursing homes, hospices, religious institutions, and other entities involved in end-of-life care. Networking is essential for expanding your customer base and building a positive reputation.

Tips for a Successful Funeral Parlor Business

Show genuine care and support to the grieving families you serve. A compassionate approach will leave a lasting impression and foster trust.

Create a strong brand identity and use various marketing channels to reach potential customers. Consider digital marketing , social media, and traditional advertising methods.

Be respectful of diverse cultural practices related to death and funeral arrangements. Understanding and accommodating different customs will set you apart as a considerate service provider.

Maintain a high level of professionalism in all interactions and transactions. Be transparent about pricing and services to avoid any misunderstandings.

Starting a funeral parlor in 2023 can be a rewarding business venture, offering essential services to families during their time of need. Ensure compliance with legal requirements , focus on empathy, and provide a range of services to meet various cultural preferences. By building a compassionate and professional brand, you can establish a successful funeral parlor and make a meaningful difference in people’s lives.

If you’re ready to embark on a fulfilling entrepreneurial journey and make a positive impact on your community, follow this comprehensive guide to start your funeral parlor today. Remember, success lies in providing heartfelt services with utmost professionalism.

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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.

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.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

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.

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.

Market Analysis Summary how to do a market analysis for your business plan.">

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.

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.

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

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

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.

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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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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Funeral Home Business Plan Template

Written by Dave Lavinsky

Funeral Home Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their funeral home companies. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a funeral home business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Funeral Home Business Plan?

A business plan provides a snapshot of your funeral home business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Funeral Home

If you’re looking to start a funeral home business or grow your existing funeral home company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your funeral home business to improve your chances of success. Your funeral home business plan is a living document that should be updated annually as your company grows and changes.

Funding Sources for Funeral Home Businesses

With regards to funding, the main sources of funding for a funeral home business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for funeral home companies.

Finish Your Business Plan Today!

How to write a business plan for a funeral home business.

If you want to start a funeral home business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your funeral home business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of funeral home business you are running and the status. For example, are you a startup, do you have a funeral home business that you would like to grow, or are you operating a chain of funeral home businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the funeral home industry.
• Discuss the type of funeral home business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of funeral home business you are operating.

For example, you might specialize in one of the following types of funeral home businesses:

• Traditional or full-service funeral home : Includes the preparation of the body, selection of casket, funeral service details, and full implementation of the funeral and committal service. A full-service funeral home plans and presents every detail of the funeral and burying processes.
• Independent funeral home: This type of funeral home works as a stand-alone business, offering full funeral services or any portion of those services.
• Funeral home and cemetery: A traditional funeral home that is on-site at a cemetery and works in tandem with the cemetery to provide all needed services.
• Funeral home and crematory: A traditional funeral home that contains a crematorium on-site and works in conjunction with the funeral home.

In addition to explaining the type of funeral home business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of gravesites sold, the number of families served,, reaching X number of pre-need funeral packages sold, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the funeral home industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the funeral home industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your funeral home business plan:

• How big is the funeral home industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your funeral home business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your funeral home business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, families, and religious organizations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of funeral home business you operate. Clearly, individuals would respond to different marketing promotions than religious organizations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other funeral home businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes private memorial service providers, “scattering of the ashes” ceremony providers, and “celebration of life” event planners. You need to mention direct competition, as well.

For each direct competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of clients and families do they serve?
• What type of funeral home business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide options for the requests of the families?
• Will you offer funeral services that your competition doesn’t?
• Will you provide floral arrangements as part of your service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

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. Then, detail the specific products or services you will be offering. For example, will you provide funeral services with either a cemetery burial or a crematory service and memorial service?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your funeral home company. Document where your company is situated and mention how the site will impact your success. For example, is your funeral home and cemetery business located near a forest, lake or park setting? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your funeral home marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in magazines and newsletters targeted to nurses and caregivers
• Reach out to hospice services
• Create a website utilizing large font sizes to clearly and simply describe services offered
• Engage in pre-need marketing via radio and television

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your funeral home business, including answering calls, planning and providing funeral services, invoicing and giving tours for families, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth funeral service, or when you hope to reach $X in revenue. It could also be when you expect to expand your funeral home business to a new city.

Management Team

To demonstrate your funeral home business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing funeral home businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a funeral home business or successfully running a hospice center.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you increase your funeral services to 10 per day, and/or offer premium family gravesite memorial areas? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your funeral home business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a funeral home business:

• Cost of equipment and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your funeral home ownership documentation, or a list of funeral and burial insurance plans you accept.

  Summary Writing a business plan for your funeral home business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the funeral home industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful funeral home business.

Funeral Home Business Plan FAQs

What is the easiest way to complete my funeral home business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your funeral home business plan.

How Do You Start a Funeral Home Business?

Starting a Funeral Home business is easy with these 14 steps:

• Choose the Name for Your Funeral Home Business
• Create Your Funeral Home Business Plan
• Choose the Legal Structure for Your Funeral Home Business
• Secure Startup Funding for Your Funeral Home Business (If Needed)
• Secure a Location for Your Business
• Register Your Funeral Home Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Funeral Home Business
• Buy or Lease the Right Funeral Home Business Equipment
• Develop Your Funeral Home Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Funeral Home Business
• Open for Business

Learn more about how to start your own funeral home business .

Where Can I Download a Free Business Plan Template PDF?

Click here to download the pdf version of our basic business plan template.

Our free business plan template pdf allows you to see the key sections to complete in your plan and the key questions that each must answer. The business plan pdf will definitely get you started in the right direction.

We do offer a premium version of our business plan template. Click here to learn more about it. The premium version includes numerous features allowing you to quickly and easily create a professional business plan. Its most touted feature is its financial projections template which allows you to simply enter your estimated sales and growth rates, and it automatically calculates your complete five-year financial projections including income statements, balance sheets, and cash flow statements. Here’s the link to our Ultimate Business Plan Template.

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s business planning advisors can create your business plan for you.

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Funeral Home Business Plan Sample

Published Oct.03, 2013

Updated Apr.23, 2024

By: Cynthia Turner

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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.

Download Funeral Home Business Plan Sample in pdf

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• Sample Business Plans

Funeral Home Business Plan

A liquor store is quite a profitable business to be in. Several people get to have a thriving primary income with the help of one.

The major reason for this profitability is due to the massive growth of alcohol consumption over the years. And though it is highly profitable the liquor business is highly competitive too.

If you are planning to start a new funeral home, the first thing you will need is a business plan. Use our sample funeral home business plan created using Upmetrics business plan software to start writing your business plan in no time.

Before you start writing your business plan for your new funeral home business, spend as much time as you can reading through some examples of service-related business plans .

Industry Overview

The liquor store industry stood at a global market value of 1,439 billion dollars in 2017 and is rising at a rapid rate going forward too.

The major reason is the rise in alcohol consumption worldwide, which has happened due to the increase in acceptance of alcohol amongst the younger population and the increase in disposable income.

But as the industry is very profitable, it attracts a lot of competition too. Hence, proper planning and having a proper business strategy are essential for your business to succeed.

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Things to Consider Before Writing a Liquor Store Business Plan

Get the necessary licenses and permits.

As a liquor store business, you’ll need quite a few permits and licenses to operate your store before getting started. Depending on the location of your store, there are several federal and state permits that can help you stay on the good side of the law. The easiest way to ensure that you don’t miss out on any important documents is to have a checklist of all the required permits.

Pick a good location

A good location makes or breaks any business, especially if you are in a business where customers have to visit your store. The same holds true for a liquor store as well. The more accessible your store is to your customers, the more likely it is to work and become profitable. Hence, take your time to pick a location that would work best for your business.

Get your store insured

Getting your store insured is another important step before you get started. As you are dealing with stuff that can get damaged easily, getting insurance helps you make sure that it doesn’t serve as a huge blow to your business. Also, having insurance helps you rest assured and focus on what really matters.

Choose a legal structure for your business

The legal structure of your business impacts your business in several ways. From deciding the taxes you’ll pay, to the liability on your personal assets the legal structure of your business decides it all. Hence, it is important to choose the right one for your business.

Chalking out Your Business Plan

You don’t need to worry about it if you plan on opening a liquor store. All you need is a liquor store business plan to combat competition and to have a successful and thriving liquor store business.

Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample funeral home business plan for you to get a good idea about how perfect a funeral home business plan should look and what details you will need to include in your stunning business plan.

Funeral Home Business Plan Outline

This is the standard funeral home business plan outline which will cover all important sections that you should include in your business plan.

• Mission Statement
• Vision Statement
• Keys to Success
• Financial Summary
• 3 Year profit forecast
• Startup cost
• Market Trends
• Target Market
• The GI Generation (born 1901-1924)
• The Silent Generation
• Generation X
• Marketing Strategies
• Sales Strategy
• Personnel Plan
• Financial Plan
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

After getting started with Upmetrics , you can copy this sample business plan into your business plan modify the required information, and download your funeral home business plan pdf or doc file. It’s the fastest and easiest way to start writing your business plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Download a sample funeral home business plan

Need help writing your business plan from scratch? Here you go;  download our free funeral home business plan pdf  to start.

It’s a modern business plan template specifically designed for your funeral home business. Use the example business plan as a guide for writing your own.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Tips in Planning for a Funeral Service in the Philippines

Planning for a funeral service in the philippines or anywhere in the world can be so overwhelming. in the philippines, talking about death let alone planning a funeral while you are still alive is somewhat a taboo. most often, the family members are left with all the planning including choosing whether the deceased loved one would like to be cremated or buried, the kind of casket or urn, the number of days of the wake, whether or not to have a eulogy, etc. adding to this, you need to obtain important documents from several philippine government agencies which can be so taxing..

There are a few pre-need life insurances or memorial service that you can avail. For example, Climbs-Cosmopolitan Life and General Insurance offer a comprehensive memorial or funeral service. This way, you will be able to plan your funeral ahead taking away the burden from your family in choosing the funeral service, the kind of casket you want, and the upfront expenses during your funeral. By planning ahead, you are saving your family from the cost and peace of mind.

Here are the tips in preparing for a funeral service in the Philippines:

Plan the wake..

Oftentimes, death comes in the least expected time. Nobody has ever been ready for it. Since it is inevitable, we can plan ahead as to what we would like to happen during our funeral. Some people are superstitious about planning their funeral while you are still healthy and able but it is actually the most practical and the last thing that you can do for your family when the day comes.

Location. Do you want your viewing service or wake be at home, funeral chapel or a mortuary near your home? If it is at a funeral chapel or mortuary, you need to consider the commute of your family from home. Is it more convenient to be held in other places than your home?

The number of days of the wake or viewing service. How many days would you like the wake or viewing service to be? Usually, in the Philippines, the viewing service is 3 to 7 days or longer especially when there is a family member who resides abroad.

Food. In the Philippines, food and drinks are served to the guests. As the funeral service is 24/7, guests can come anytime to offer their condolences. There is always food and drink for them.

The Eulogy. Would your family like to have a eulogy or not? It is becoming popular to have a eulogy the night before the interment day or the last night of the wake. Although eulogy can be done anytime. Your funeral service provider can help you with the arrangements and provide you with some equipment such as extra chairs or table, microphone, sound system, and a multimedia projector. This is beautiful but at the same emotionally overwhelming for the family as it is the last time all the family and friends are gathered together to reminisce the happy memories together.

Mass and/or prayer for the dead (novena). For Catholics, prayer for the dead (novena) starts on the day one has passed away. After the burial or cremation, the 40 days prayer kicks in. During the wake, some families prefer to have a mass every night after the novena.

Transportation. Although it is a custom in the Philippines that people walk from church (mortuary or home) to the cemetery, you need to consider the distance. The funeral service will provide the hearse (or funeral vehicle). Do you need to rent additional transportation for your family and friends?

Music. It is unusual but you can prepare songs for your funeral. Or, would you rather have the good old “ Amazing Grace ”? You can choose your favorite songs. Pretty sure your family and friends will enjoy and celebrate your life for the last time.

Choose the casket or urn.

Your pre-need life or memorial plan comes with a free casket. You can choose what kind of casket would you like to have. If you prefer to be cremated, the cremation package comes with free urn as well. Imagining your own funeral can be scary, however, this is the only way to help your family when the day comes so they can focus on moving forward.

Point person(s).

Assign somebody in the family to be the point person. This person will be responsible to delegate the tasks and communicate with the funeral service. It is important to have a point person so there will be a smooth flow of the activities, communication and any other transactions making sure that everything has been taken cared of.

Interment day or cremation day.

Three days before the interment or cremation day, the point person must finalize all the arrangements and coordinate with the funeral service provider. Are the legal documents ready? It is also the best time to plan for the route going to the church or the cemetery so you will have assistance from the local government and traffic enforcers if you chose to be buried.

Two days before the interment or cremation day, touch base with your funeral service or if you have an organizer regarding the flowers, music, the color of the shirt, people who would carry the casket, food, and snack.

On the day of interment or cremation, most often the funeral service will lead the event. They only need to know who the point person(s) to relay what is needed to be done.

A well-planned funeral service helps your family from making difficult decisions let alone the budget. Cosmopolitan Funeral Homes , for example, has partnered with Climbs Life and General Insurance for you to be able to plan your funeral ahead. Cosmopolitan Funeral Homes will take care of everything from picking up the body from the hospital or home, viewing equipment, processing of the legal documents, up to the burial day itself. All you have to do is to choose the right package for yourself and let them handle the rest.

Photo credits Freepik

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Death care industry is big business

P1.8 MILLION 24 KARAT GOLD PLATED COFFIN: Robert Gregorio, chief operations officer, Cosmopolitan Funeral Homes Inc. shows their solid bronze 24 karat gold plated promethean casket. JUNJIE MENDOZA/CDN

The profession may be morbid, as you say, but it’s big business,” says a friend, confirming what is common knowledge and conjuring up scenarios on the high cost of dying. She was referring to some high-profile funeral houses, possibly franchised, which are part and parcel of what is now known as the death care industry.

Officially not part of the industry are the many parishes who offer mortuary services. In some of the upscale churches, the tables are set up as in a banquet, and the food caterers make a killing (double-entendre and possible irreverence not intended).

These funeral houses-crematoriums are run like a corporation, with life plans, packages, benefits, product development, services, and perhaps a dash of CSR (corporate social responsibility).

The leading death care companies include St. Peter Memorial Chapels, Loyola Memorial Chapels & Crematorium, Arlington, Nacional, Sanctuarium and La Funeraria Paz (the last four, for some reason, are all located on Araneta Ave., Quezon City).

St. Peter was founded by the late Francisco M. Bautista (1914-1996) and has been in the business for more than 30 years. The company operates an “elite” memorial chapel in Quezon City, Cebu City and Davao City. There are also memorial chapels in Sta. Mesa, Manila and in Alabang, Metro Manila, along with more than 200 chapels nationwide.

“We have different plan types that suit your budget and are payable in cash or installment for a period of five years,” says a St. Peter spokesman. And he did not entertain any further questions.

A corporate profile of the firm describes an “e-Burol” service which will enable relatives and friends who cannot go to the wake to view the remains anywhere in the world through this website. The facility entails a user-name password which will be provided only to the family.

Among the CSR projects of St. Peter, the corporate profile notes, are “Gift for Angels” (free memorial services for infants three months or younger), and Memorial Gift Certificate for “outstanding” persons.

Loyola Memorial was founded in 1972 by the late senator Gil Puyat and is part of the Loyola Group of Companies, which includes the Loyola Life Plan. “Funeral Services are priced to suit any budget,” says a spokesman. “Clients can discuss with the staff and management their requirements and needs, so that a package with specific needs can be drawn up.”

The main Loyola chapel along Edsa Guadalupe Viejo is a familiar landmark in Metro Manila. Available are “Premier” and “Super Deluxe” chapels.

How expensive is it to bury a relative?

A friend who recently buried a close elderly relative spent P80,000 for a four-day wake with free coffee and water, Wi-Fi in the chapel, coffin for viewing, two flower arrangements and cremation.

That was in Olongapo City. Presumably it will be more expensive in Metro Manila because the “competition” is keener.

Plastic coffins?

Ideas-man Isidro C. Valencia, whose letters to the editor appear from time to time in the Inquirer, suggests that death care specialists can bring costs down by having plastic instead of the usual wood coffins.

“If the coffin is plastic mawawala ang (no) oxygen, the bacteria will die and the body will decompose less rapidly,” says Valencia ( [email protected] ). He has talked to embalmers in Cagayan de Oro City and they are sold on the idea, according to him.

Shifting from wood to plastic will entail a mold, which is available in plastic companies. This is expensive but with economies of scales, says Valencia, “the price of a coffin will be lowered by 50 percent.”

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Is the suggestion workable? Will the “captains of (death care) industry” embrace the idea or will they consider it déclassé? Will it reduce profits?

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A Memorial Service Company that has been providing professional and traditional memorial services to the Filipino public for over 30 years.

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• How we reviewed family life insurance companies

Best Family Life Insurance of June 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

Talking about your loved one's final hours can be difficult. However, an uncomfortable conversation about the worst case scenario can ease the pain and grief when it arrives. Life insurance for families will ease the logistics of death so you can focus on your family. 

Our Top Picks for the Best Life Insurance for Families

• Best for customer service: State Farm Life Insurance
• Best for pregnant individuals: AIG Life Insurance
• Best for child riders: Protective Life
• Best for military families: USAA Life Insurance
• Best for low-income families: Mass Mutual Life Insurance
• Best for affordability: Banner Life Insurance
• Best for whole life policies: Northwestern Mutual Life Insurance
• Best for universal survivorship policies: Prudential Life Insurance

How we rank family life insurance »

Compare Family Life Insurance Companies

The best family life insurance companies offer highly customizable policies so you can tailor your plan to your family's needs. In choosing the best family life insurance, we looked at the policies that would suit the needs of certain family situations like military families and expectant families. We also looked for the best policies for family-specific plans such as survivorship policies.

Here are our picks for the best family life insurance in 2024.

Best in customer service: State Farm

Bundling is standard, and agents often quote with multiple discounts.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Best in JD Power customer service ratings
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a range of different insurance products to meet buyer needs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Agents are knowledgeable about its products
• con icon Two crossed lines that form an 'X'. Life insurance products are conservative and limited
• con icon Two crossed lines that form an 'X'. Buyers may be subject to multi-year waiting periods before they qualify for full payouts on life insurance policies
• con icon Two crossed lines that form an 'X'. State Farm agents cannot offer alternative options if State Farm is unable to bind a life insurance policy

State Farm is one of the insurance industry's most prominent insurers offering auto, home, and other insurance. Bundling is standard, and agents often quote with multiple discounts. Its term, universal, and whole life insurance products are no exception.

• Life insurance products include term and permanent life
• Ranks highly for customer satisfaction

We are kicking off our list with our top pick based on JD Power's customer service rankings: State Farm. State Farm offers family life insurance to protect all members of your immediate family under one policy. The provider is also known for its top-rated customer service and high financial strength ratings. In addition, it continues to create great user experiences.

State Farm sells term, whole, and universal policies at up to $10 million in coverage. To obtain the family insurance bundle, you must purchase State Farm's Select Term or Whole Life plan. You can add a term rider and children's rider to cover the rest of your family.

State Farm's term rider provides additional coverage for you or another person on a select term or whole-life policy. With this rider, premiums remain level for 10 to 30 years, depending on your policy's term length. Additionally, this rider allows you to convert your term policy to a permanent policy if needed. State Farm's child rider provides up to $20,000 in death benefits per child. You'll only need to purchase the rider once to cover all current and future children. Your child qualifies for coverage from 15 days old to 25 years old when you can terminate the rider. Then your child can convert to permanent coverage.

Read our State Farm Life Insurance review here.

Best for pregnant individuals: AIG

Get $250,000 of Term Life Insurance Coverage for as low as $13 per month.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Guaranteed life insurance available for seniors between 50 and 80
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High financial strength and customer service ratings
• con icon Two crossed lines that form an 'X'. Some policies only have benefits up to $25,000
• con icon Two crossed lines that form an 'X'. AIG may not offer more extensive death benefits for seniors

If you're pregnant, you may find it challenging, if not impossible, to find insurance past a certain point of your pregnancy. Fortunately, Corebridge Financial, formerly the American International Group (AIG), is friendly to expectant parents. While most providers will postpone your application if you're past the first trimester, AIG Corebridge offers coverage at any stage of your pregnancy, given that you're healthy.

Additionally, the insurance company provides a built-in terminal illness rider for all its policies. So, if you become terminally ill, you won't have to rely on your family to shoulder the hefty medical bills. Instead, you can draw from your death benefit to cover the expenses. AIG Financial also offers a child rider for up to $25,000 coverage per child.

Read our AIG Life Insurance review here.

Best for child riders: Protective

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Customizable term, whole, and universal life insurance plans
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Life insurance options for older adults
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High customer satisfaction according to JD Power
• con icon Two crossed lines that form an 'X'. Basic terms expire at 65, and Protective Life may not offer whole or universal policies for older adults
• con icon Two crossed lines that form an 'X'. Does not offer policies for special groups

A child rider pays out a death benefit, usually for funeral expenses, if your child passes away. You can often add this rider to your policy regardless of your child's health status. If you're looking for an insurance company that offers the best deal for child riders, then Protective may be your winner.

With Protective Life, you get a maximum of $25,000 in coverage per child for all future and current children. When your child turns 25, they can convert the rider to a permanent policy for five times the rider's face value.

To apply for an individual Protective policy, you must be between the ages of 18 to 64. In addition, if you opt to supplement your policy with a child rider, your child must be no fewer than 15 days old and no older than 18 years old.

Read our Protective Life Insurance review here.

Best for military families: USAA

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable pricing starting with $12/month on some policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. May offer coverage to military members other companies won't cover
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers term and permanent life insurance options
• con icon Two crossed lines that form an 'X'. 2 year waiting period for full benefits on some policies
• con icon Two crossed lines that form an 'X'. May focus on death benefits only more than other companies
• con icon Two crossed lines that form an 'X'. All permanent policies are underwritten and serviced by other companies, not by USAA
• USAA offers life insurance for the military, veterans, and the public.

USAA's insurance policies and financial services were designed with military members, reserve members, veterans, and their families in mind. However, USAA offers its life insurance policies to the general public. Unsurprisingly, rates are highly competitive. However, the value and diversity of plans are limited compared to other companies. The exception to this is for active military members who may not find coverage elsewhere.

If you're between 18 and 35, you may qualify for coverage. If you purchase a term life insurance policy, qualified applicants can renew their coverage until 95. However, like many insurance policies, you may see higher rates, lower death benefits, and renewed waiting periods at each renewal. More importantly, life insurance companies do not guarantee renewal unless you buy an extra rider with participating life insurers. Even then, the rates and coverage amount are not guaranteed.

Your USAA insurance policy includes the Military Severe Injury Benefit rider and Life Event Option rider at no additional cost. The Military Severe Injury Benefit rider qualifies you for up to $25,000 in reimbursement if you are injured while performing military duties. The Life Event Option rider is the equivalent of a guaranteed insurability rider, which many providers charge a fee to include. This rider guarantees up to $100,000 in coverage for qualifying events like getting married or having a child.

One thing to note is many active duty military members, especially if deployed, won't qualify for life insurance with other providers. So, USAA may be the only option for active servicemembers outside of SGLI (a group life policy for those in the military), which you lose after military retirement.

Read our USAA Life Insurance review here.

Best for low-income families: MassMutual

A++ (Superior)

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Wide array of term and permanent life coverage options 
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Established life insurance carrier with a strong reputation
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive insurance premiums for both permanent and term policies
• con icon Two crossed lines that form an 'X'. May not be available for seniors above age 65
• con icon Two crossed lines that form an 'X'. Policies must be purchased through an agent
• Life insurance provider offering term and permanent policies
• LifeBridge program for low-income parents and guardians
• High marks in customer satisfaction

Filling a unique role, MassMutual's LifeBridge program offers $50,000 in free coverage for legal guardians and parents. The policy has no early withdrawal, investment options, etc. Instead, should you pass unexpectedly, the money would go into a trust for your children's education expenses.

Applicants must be in good health between 19 and 42 years old. Both parents and legal guardians are eligible for coverage. Dependents under this plan must be 19 or younger. Household income is also capped at $40,000, but qualifying policyholders must earn at least $10,000 annually.

Read our MassMutual Life Insurance review here.

Best for affordability: Banner

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable insurance rates for adults up to age 75, 85 for universal policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No maximum coverage on some policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High financial stability
• con icon Two crossed lines that form an 'X'. Low coverage amounts on universal policies
• con icon Two crossed lines that form an 'X'. Limited riders to customize coverage

Banner Life is our top pick for affordability because it offers the best bang for your buck. The provider has excellent financial health marks and provides a best-in-class no-medical exam option. In addition, applicants between 20 and 75 years old may apply for life insurance with no cap on coverage for up to 40 term years.

Underwriting at Banner Life is lenient to those with disabilities, mental health issues, and high blood pressure. However, if you have severe health complications like HIV and cancer, you may not qualify for coverage. Above all else, Banner aims to provide affordable options for many insureds. If you're looking for HIV-specific policies, companies like Guardian are increasingly progressive, but restrictions will still apply.

Read our Banner Life Insurance review here.

Best for whole life policies: Northwestern Mutual

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Strong financial stability rating
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High customer satisfaction
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers advising and financial planning
• con icon Two crossed lines that form an 'X'. No easy way to get a quote to compare prices
• con icon Two crossed lines that form an 'X'. Life insurance agents may not be able to effectively discuss the full range of available Northwestern Mutual life insurance products
• 5/5 for claims satisfaction according to JD Power
• Offers whole, universal, variable universal, and term life insurance policies

If you're looking for a comprehensive whole life policy to protect your family, look no further than Northwestern Mutual. The insurance company is recognized for its customer satisfaction and high marks in financial stability.

Northwestern Mutual's Whole Life Plus policy is highly customizable. You can pay more or less on your policy, depending on when you'd like to have your policy funded and stop paying premiums. You can also supplement your whole life insurance plan with a term life policy for more death benefits at a better rate.

Northwestern Mutual doesn't offer a child rider. However, unlike many major insurance providers, your child can qualify for a whole-life policy as the company doesn't have a minimum age requirement. Therefore, your child can start taking advantage of the lucrative cash value component and grow with their policy as they age. Once your child reaches working age, they can explore options for more coverage with Northwestern Mutual or other companies. However, a child policy gives them a headstart.

Read our Northwestern Mutual Life Insurance review here.

Best for universal survivorship policies: Prudential

Offers aggressive financial plans.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
• con icon Two crossed lines that form an 'X'. Financial returns are limited
• con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

Prudential is a reputable company offering an affordable second-to-die or survivorship policy. A survivorship policy covers two people on a single, which is typically more affordable than buying two separate permanent policies.

It applies age and other restrictions to the second insured. However, policy payments can continue as long as the second party is alive. Any early withdrawal options also apply during both insured buyers' lifetimes. The idea is to maximize your benefits over time.

Prudential's joint life insurance comes with a no-lapse guarantee, meaning your policy will remain in force for a set number of years even if your cash value drops to zero as long as you pay your premiums.

You may even get approved for this policy if your partner doesn't qualify for an individual policy. Its universal policies track the S&P 500. So you can gain substantial cash value growth to meet your long-term wealth-building and retirement goals.

Read our Prudential Life Insurance review here.

How to Pick the Best Family Life Insurance

No one wants to think of death when it comes to their family. However, it is vital to prepare for the inevitable, including death, retirement, illness, and more pleasant things like college costs. Therefore, buyers should consider a few factors when shopping for life insurance.

• Budget : The average term life insurance policy is between $40 and $55. You can snag a cheaper rate, but keep in mind inexpensive doesn't equal quality. Additionally, permanent life insurance policies tend to hover on the expensive end of the pricing spectrum. If you're older or have preexisting conditions, expect higher premiums than the industry average.
• Occupation and lifestyle: Do you have a risky hobby like skydiving or a dangerous job like mining? Unfortunately, you may have to shell over more coverage. However, you can get the best rate by shopping for high-quality providers.
• Health : Healthy individuals typically have no issue purchasing a life insurance policy. However, providers consider smokers and applicants with certain preexisting medical conditions higher in the risk class, therefore, more costly to insure. Some health conditions may preclude you from life insurance in general. We look at diverse options to ensure readers have essential resources to make informed decisions.
• Length and coverage amount: Think about your long-term financial plans and how life insurance may help you optimize your goals. If you're looking to maximize your term life insurance policy, some companies will insure you for over 40 years with over $1 million in coverage. Alternatively, for the best prices in the long term and wealth-building opportunities, it's often better to apply for whole-life policies at a younger age.
• Age: Age is a significant factor in underwriting life insurance policies, primarily because age-related conditions constitute a higher risk. Younger policyholders tend to get better rates. If you're a shopper over 60 years old, look into companies serving senior clients at a lower price with benefits to meet your needs, like AARP or Prudential.
• Company trustworthiness: Death is a stressful event for anyone. So you want to work with a reliable company offering good customer service to make the process easier. To evaluate the financial health and a company's track record for quality customer service, we suggest reviewing a company's AM Best and JD Power's customer satisfaction life insurance score to determine a company's trustworthiness.

Why You Should Trust Us: How We Reviewed the Best Family Life Insurance

We choose the best family life insurance based on a company's customer satisfaction points, financial stability ratings, affordability, company offerings, and exclusions.

To compare the quality of a company's customer service, we used JD Power's life insurance customer satisfaction survey. 5,000 participants submitted their experiences with different companies, and this data was compiled into an average score for each company. The industry average is 774 points out of 1,000, meaning companies scoring above deliver better customer service than its competitors.

Financial strength determines a company's ability to pay claims and meet other financial obligations. To evaluate an insurance company's financial health, we sourced data from AM Best, an industry-leading credit rating agency. A company with an A++ to B+ is considered stable and likely to withstand economic downturns. On the other hand, anything lower than a B means a company is unstable or unable to meet its financial obligations.

To compare company offerings, we look at several aspects of a policy, including but not limited to riders, policy flexibility, no medical exam life insurance options, and instant approvals. We also look at agent training. For instance, some life insurance companies train agents to sell term life insurance policies with the idea that it's cheaper or you can convert later. Others provide a full range of life insurance products, and agents can walk customers through every step of the shopping experience with extensive knowledge.

Factors like age, health, and lifestyle will influence your premiums. So the average life insurance premiums will vary based on your risk class. However, we do our best to compare policy rates from the same demographic profile to determine which plans offer the most competitive price.

Read more about how Business Insider rates insurance products here.

Best Family Life Insurance FAQs

Yes, you can buy life insurance for your whole family. Different options are available to cover your entire family, depending on your chosen insurance company. 

Consider purchasing at least 10 to 20 times your household income in coverage. Licensed life insurance agents can also run estimates for you. Most importantly, don't jump to conclusions about the price of specific policies. Pricing for comprehensive policies is often surprisingly affordable, especially if you buy life insurance when you're still young.

It depends on the severity of the condition. Some companies offer policies with medical underwriting, while others offer guaranteed issue options for those with health issues.

In joint life insurance, the policy pays out and terminates upon the first death. In survivorship life insurance, the policy pays out after the second death.

Your ability to add or remove family members from a policy depends on the policy type and company. Some policies are more flexible than others.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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