FUNERAL SERVICE HOME BUSINESS PLAN SAMPLE TEMPLATE
An adage goes thus “Nothing is certain except death and taxes”. If this is true, (and it is true), then someone has to prepare the bodies for interment.
This is exactly the function of funeral homes. They are involved in preparing the body (i.e. washing, dressing, embalming and putting the body in a casket) for burial.
And some funeral homes also engage in planning the burial event itself.
A bereaved family may not have the emotional strength or skill to prepare the body of their loved one for interment.
This means there will always be a market for funeral homes, since deaths can’t be avoided, at least in the long run.
Therefore, seeing that there is a lot of money making potential in the funeral industry, here’s a Funeral Home Business Plan to help you set up your own funeral home.
Here is a sample business plan for starting a funeral service company.
Business Name: Whitewalker Funeral Homes Inc.
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
Founded in 2007, Whitewalkers funeral home offers a number of funeral related services. These include embalming of corpses, dressing and provision of caskets, memorial materials and urns amongst other services. This business is run by Mr A. Whitewalker and family, who bought the business from the Blakes about 5 years ago.
Mr Whitewalkers studied embalming and restorative art techniques at the institute of Funeral directing Colorado Springs. Mr A. Whitewalker is a very experienced funeral director. With 15 years’ experience in this filed. He worked with A and B funeral homes in the Denver area before moving to Washington DC to open his own practise.
There’s no dearth of customers as far as this business is concerned. Therefore, with good management skill and finance, this business could actually grow into a multimillion dollar business.
Our Products and Services
Our products and services include embalming and dressing of corpse, sales of coffins, cremations services. We also specialize in transportation of human parts all over the country and also across the globe. Whitewalkers Funeral homes also helps in planning funeral services, from choosing a venue and also getting someone to coordinate the burial or cremation ceremony depending on the family’s religion or lack of it.
And finally at Whitewalkers, we engage in different kinds of interment, from various kinds of burials to cremation and even mummification if that’s what is wanted.
Our vision is to be one of the biggest and most popular funeral home in the Washington DC area.
Our mission is to ease the effect of the transition of a loved one on the family members. By providing top notch services which will ease the stress of the bereaved family. We hope to continually provide these services at very competitive prices.
This business is a family business and it is owned and run by the Whitewalkers, with Mr Allen Whitewalkers at the helm of affairs. We have been also very careful with how we employ our staff.
One trait we look out for in our staff is their ability to comfort the bereaved. And also tolerate customers’ misbehaviours; this is because we understand that people behave different when a family member is bereaved.
The funeral industry has an advantage over many other industries because people will always die. Therefore there will always be a steady stream of customers. With the expected death rate to increase by 1% every year for a ten year period, there’s also an expected growth in the funeral industry. Therefore a lot of profit is projected for those into this business. Last year the funeral industry made over $16billion in the U.S.
Everyone dies, so basically everyone is our target market. Now that being said, there are specific groups of people we shall take our marketing to. They include mortuary owners, insurance companies and hospitals amongst others.
Sales and Marketing Strategy
So the funeral industry has different segments based upon religion, tribe and people wants and preferences. So we are employing part time morticians/funerals who are skilled in various religious burial styles.
We will also use the internet as a very important advertising tool, since most people go on the internet to search for things before buying them physically.
We need a loan of $1 million to expand the business. This loan will help us acquire more funeral vehicles, 2 actually, expand our car park and then finally expand our services.
In the Washington area we are the only funeral parlour who have experts in various interment styles as they vary according to religion and ethnicity. And with that we know soon we’ll be having problems meeting our demands.
Here’s a funeral home sample business plan, so if you are interested in having a funeral parlour, here’s a business plan.
How to Start and Run a Funeral Home
How much money do you make owning a funeral home? Starting any business requires adequate planning as well as abiding by regulatory frameworks guiding its operations.
You also have to develop effective marketing strategies for selling your products and services. This can make the whole processing of starting a business challenging especially for persons with limited knowledge of what it takes to start.
The same applies to starting a funeral home. Here you need to have had previous experience in providing mortuary services. This line of business also requires empathy as well as efficient customer service skills.
Different faiths have their unique burial rites/rituals. Thus it is necessary to have an understanding of what each demand. This article will reveal information that will help you start your funeral home business. It will focus on the most basic requirements which you cannot do without.
In the end, you would have will have gained knowledge of the procedures involved and how to commence business.
Carry Out a Survey/Research of the Funeral Industry
A survey of the industry tests to see if there is a real demand for funeral home services in a particular area or chosen location. This helps in selecting a suitable location for the business too. The study also helps you determine how much resources (financial) are required for the project.
It also helps the business to measure if the market is over-saturated by stronger competitors, as well as also revealing if there will be potential setbacks in trademark registrations, and also several other legal hurdles relevant to establishing your business.
Getting a Space
This is where you will run all the services provided by your funeral home. These may include areas for cremation services, rooms for holding funeral services, a space for selling caskets which may also double as a casket showroom, refrigerators for the mortuary as well as one for preparing the body for the funeral.
To provide all the above-mentioned services adequate space is necessary.
Providing a General Price List
This is known for short as the GPL and a stipulated requirement by the Federal Trade Commission for all funeral home service providers.
It requires that all funeral home service owners should prepare a comprehensive General Price List of all services provided so clients can easily go through to have a clear understanding of services they may or may not need. These services may include but not limited to transporting the body for burial, embalming fees among similar services.
All information provided in your GPL must be very clear and specific. This should include what your clients are expected to pay for.
Applying for Licensing
This is part of the basic requirements for starting your funeral home business. Having basic education (college education) in mortuary science is required for directors of funeral homes. The American Board of Funeral Service Education also demands to have an associate degree in funeral service education.
For most states, you will have to take a state board exam to obtain a funeral home license. There are provisions for apprenticeship. However, the apprentice would have to learn from a licensed funeral director. After learning is complete, a licensing exam is written.
This line of business requires specialized knowledge in handling embalming, cremating and body preparation tasks. Because you cannot do all these alone, you need capable hands to help in providing these services. In addition, the general administrative structure of your business will require hiring the right hands for the job.
Doing the Necessary Paperwork
Owning a funeral home entails a lot of responsibilities. Some of these include sorting out insurance issues with several insurance providers.
Having knowledge on funeral insurance will be of immense benefit here. Other equally important paperwork you must attend to include death registrations as well as following due cremation protocols as well as sorting out purchasing issues for graves needed for burials.
Having a Business Plan
One of the most important requirements for starting a funeral home is writing your business plan. If you don’t have the necessary knowledge, you should seek competent help to write a good business plan that reflects the realities of the business as well as contains definite targets the business is expected to attain within a specified period of time.
It is important to also state here that full implementation of the contents of your business plan is necessary if you wish to obtain desired results.
Having a Marketing Strategy
There are lots of funeral home service providers who have become household names by building a plan reputed for excellence. To stand a chance of competing, you need to have an effective marketing plan that contains definite strategies that will help your business attract the much-desired patronage necessary for success.
Starting a funeral home requires a lot of logistic issues to be worked out. Passion is an important ingredient that is needed if you must make appreciable headway in the business. This is the major factor that will keep you focused during trying and challenging times.
Because your clients will be grieving for their loved ones, you need to be able to act as an emotional support during this period by ensuring the services provided by you are aimed a soothing their grief.