If your answer to the above question is “YES,” then you need to be asking yourself why. Don’t wait to address this as it could be that waiting will allow your competition to pass you by. If you have seen any significant drop, all is not lost, and you can still adjust and make your death care business remain relevant and competitive.
No doubt the cremation rate has changed the business for everyone. How (or how you don’t) embrace it could decide whether you stay in business or not. In small rural America, the cremation rate is half that of larger areas. Do not be fooled by that, because it will catch up. If you have done things at your funeral home in the same way since your grandfather ran it, then likely you are not open to change.
If your call volume isn’t decreasing but your revenue is, then you will probably still need to make adjustments. Let’s face it, you don’t want to be putting in the same effort for less money. There are things you can be doing to help stabilize the income your families generate. I have friends that own 20-30 call funeral homes and are still making a living, but they still have 20% cremation. I don’t think that will be true when their cremation rate jumps to 50%. At that point, they will face tough decisions. Do they want to work for less, sell to a competitor, or buy out their competitor? Other options include diversifying into other markets, such as a flower shop.
DECAIN offers coaching to explore all of these subjects and will help your business create a plan to stay out in front of the issues. Call for a free initial confidential discussion. Click here for our contact information.