Finance

14 posts

You’re here…NOW WHAT! There are more ways to transition a business than just selling to a consolidator. You can transition fast and you can transition slow. You can plan to have your kids succeed you or your employees or another funeral home operator. But the one entity you want to […]

WARNING! This is not about caskets! A couple of decades ago I was visiting with 3 funeral home owner friends. They were discussing among themselves that the expensive makeovers of their selection rooms, popular at the time, were not working as advertised. Having heard nothing but glorious praise about these […]

REINVENTION: PROFIT CLINICS

There is a level of neglect in our profession that will (and is) causing too many to approach the end of their careers facing great disappointment, forcing the postponement of retirement or spending retirement much more humbly than anticipated.  It is too dangerous to be considered benign.  Dangerous, certainly, at […]

How Insurance Companies Make Money: Wisdom From Warren Buffett

When I first began negotiating with insurance companies some 25 years ago I made the same mistake now common in the funeral profession: I assumed they made their money the way all “normal” businesses do.  In other words we generate revenue through sales we pay for our merchandise at wholesale […]

Preneed Math 301: Commissions

The theory of commissions is that it motivates producers to produce more.  This is not necessarily true.  What is true is that if you overpay two things happen:  Your program becomes economically unsustainable and your producer becomes demotivated.  Here is why: First, It is my absolute belief that preneed selling […]

Is Wall Street Interested in DeathCare Again?

One of the ways I spot trends is to look for frequency of mentions in publications.  This last week The Motley Fool seems to be spending a lot of space on DeathCare.  Specifically, SCI, Stonemor, Stewart and Hillenbrand.  As an analyst I find some of their insights and methods to […]

Preneed 401: Trust Vs. Insurance

This may seem like a “Yawner” topic but it’s important and I am going to make it short. Let’s pretend that you walk into a bank or trust company with, say, 15 contracts totaling a $100,000 in prearrangement value. You say to your banker that you want him to track […]