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Funeral Home Business Plan


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The funeral home business plan develops a success strategy for startup and long-term success. It takes considerable upfront costs for startup, therefore the plan is equally geared towards qualifying the business for bank lending, or to attract equity or angel investors. There must be plenty of space for preparing the deceased for burial, special equipment, transport vehicles, and burial ceremonies. Some funeral homes specialize in particular types of services or burials. For example, the funeral home may strictly do cremations or offer natural (green) burials. A number of funeral homes have business arrangements with cemeteries and most can make all arrangements from picking up the deceased to final burial in a gravesite or placement of ashes in the urn.

 

Our Approach to Funeral Home Business Plan


The funeral home business plan will cover topics and issues of interest to the business owner as well as potential investors. They include:

  • Location of the business with appropriate space requirements for parking, casket displays, chapel, waiting and meetings rooms, viewing area, and whether the space will be leased or purchased

  • Type of equipment required, i.e. embalming machine, embalming table, cremation system, refrigerated storage, music system, furniture, office equipment, etc.

  • Number and type of vehicles, including limousines, hearses, and auto for the funeral director for conducting business arrangements

  • Contracts in place with cemeteries, hospitals, county coroner, casket and urn wholesalers, etc.

  • Sources for supplies like embalming fluid and caskets

  • Types of services and supplies sold, including the line of caskets, preparation of the deceased, chapel services, flowers and music, and so on

  • Capability of providing non-denominational, faith-based, or other funeral or gravesite speakers (if family does not provide speaker)

  • Marketing plan for the business, including radio and television advertising, making presentations to churches and nursing homes, community networking, etc.

  • Pricing based on level of services requested by customers

  • Market analysis including competitor funeral homes, area service needs, potential problems like lack of burial space, etc.

  • Unique services offered for family and friends, like transporting the deceased to a different location outside the defined market area, counseling services, funeral planning services, etc.

  • Licensing, bonding and insurance requirements


A new funeral home will likely be competing with long-established businesses with extensive connections. Unless the business is located in a rural or remote area, it will be necessary to design products and services that target an expanding market niche, like an aging population segment, or offers very unique services or settings. However, funeral homes deal with multi-generational clients and have to be prepared for most types of service requests. The unique services that work best will depend on the population demographics of the market served.  For example, a market characterized by a population mostly 40 years old will be more attracted to alternative products and services than an area where the majority population is over 60 years old.

Licensed funeral directors can do quite well if the business is structured appropriately and offers services that are attractive to a local market. OGS Capital works with business owners ready to develop a funeral home business plan that investors or banks will be interested in funding. The process begins with completion of the contact form.

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