The single largest cost of running a funeral home comprises salaries, benefits and employment taxes. Together, they make up employee compensation. In the 1980s, when some casket companies spent $250,000 on their NFDA booth build-out and another million dollars on an extravagant cocktail party during the convention, the cost of goods was about 20% to 25% of revenue while compensation typically ranged from 26% to 40%.
How to Free Your Funeral Business from Debt and Build Lasting Financial Health
For independent funeral business owners and family-run funeral homes, financial debt challenges often creep in quietly while the work stays constant and the expectations stay high. The core tension is simple: cash needs hit fast, but revenue and collections can move...