Funeral Home Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Funeral Home Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Funeral Home business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
It is a fact of life that people pass away. As such, funeral homes are able to maintain their profitability and demand in all economic climates. These businesses have very high barriers to entry. One of most interesting aspects of operating funeral home is that there are substantial educational requirements for the funeral director that owns or operates the facility. As such, once a funeral home location is established and develops a brand name for itself – there are very little ongoing issues that pertain to how these businesses work. The startup costs for new funeral home can be significant. Usually, there is an acquisition of real estate that involves a substantial amount of improvement so that the facility can operate as a licensed funeral home. Generally, startup costs can range anywhere from $500,000 to well over $2 million depending on the location, the property, and whether or not certain services such as cremation will be offered on site.
The funeral home business plan should focus substantially on the economic stability of this business. Additionally, the document should have a three to five year financial model that showcases the loss statements, cash flow analysis, balance sheet, business ratios, and the breakeven analysis that will determine how much money funeral home needs to make on a monthly basis in order to operate at a breakeven level. The business plan should also focus on the payroll for the business given that the individuals that need to be hired to render services cost a lot of money. Many people do not necessarily want to work at a funeral home, and as such, higher salaries and hourly wages are usually required in order to have a well performing employees. Within the document,, a complete analysis of the local market, median household income, population base, and the competitors that are located within the market should be examined thoroughly.
After the business plan is completed, usually a second document known as the funeral home marketing plan is developed. This document how the business will market itself to the general public discussed much more deafly than within the business plan. For many new funeral homes, relationships are developed with area attorneys, hospitals, hospices, and in-home care agencies that refer families who have recently deceased members to the funeral home business. Also, is very important to maintain an expansive marketing campaign that includes print and online marketing in order for people to find the business quickly and easily.
For most entrepreneurs, a SWOT analysis is completed in order to determine all the benefits and drawbacks of developing a new funeral home business. Again, one of the best aspects of these businesses is that they are able to maintain profitability at all times. However, these businesses are expensive to operate. There are no currently known pieces of regulation or legislation that impact the way that funeral parlor does business at this time.
In closing, if you are able to be licensed as a funeral director then these businesses can be extremely lucrative and profitable over a long period of time. Additionally, these businesses also have a very high sale value. There are a number of companies that operate within the United States that seeks to acquire profitable funeral homes. As such, if an entrepreneur is able to appropriately develop this business can be highly profitable over a 5 to 10 year period.