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The Dark Secret Behind Deathcare: Surge of Bankruptcies Coming? | #40
Manage episode 379568412 series 3363706
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Funeral home competition is becoming increasingly intense due to a combination of factors, such as the lack of future generations wanting to continue the family business and increased investment in the field.
An experienced death care professional had four clients call her in the week before a conference, expressing their intention to file for bankruptcy. This is unprecedented and raises concerns about the state of the funeral profession.
The clients that called her shared common themes: low sales, dwindling case numbers, being traditional smaller firms in rural areas, and not keeping up with the times. The clients felt worried, didn't know what to do, and felt they had no other options. They were behind in taking the right actions and felt overwhelmed and stressed. These struggling firms lacked an online presence and digital marketing strategies, and seemed to be operating on autopilot without actively growing their businesses. Are these struggling firms the canaries in the coal mine, indicating trends that other firms may face in the future?
Timestamps
(00:00) Intro
(00:49) Welcome to Direct Cremation Podcast
(01:25) A conversation I had with someone at the CANA convention about the state of the deathcare profession from the business side
(02:09) Let's dive in on these bankruptcies
(02:46) What are some of the common themes?
(03:15) What were they feeling?
(05:11) Are they the canary in the coal mine? If yes, who's next?
(06:46) What I think is happening and what will continue to happen
(07:44) What can we do about it?
For Innovative Funeral Directors Blazing a Trail. Find us at https://directcremation.com
Listen on Spotify or Apple Podcasts
Want to start a cremation brand yourself? Learn how the some of the biggest cremation brands do it at https://www.partingpro.com
Learn the playbook responsible for growing my family business to over 4500 calls a year without digital marketing: https://wdgroupconsulting.com
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