Well-run funeral businesses enjoy the benefits of good cash flow by avoiding use of their line-of-credit. Well-managed firms reap the rewards of a comfortable bank account that allows them to take advantage of new opportunities – acquisitions or expansions for instance. At Nixon Consulting, Inc., we help clients reach more profitable positions.
Our Full Service Consulting program contains all the elements to help you improve your funeral business: analysis of past financial statements, a forecast for the new year, detailed Service Charge recommendations based on the forecast, FTC Funeral Rule compliance check, suggested casket and vault pricing, and General Price List preparation.
More importantly, your annual Funeral Business Plan includes graphic comparisons to other firms. You will easily see how your firm ‘stacks-up’ to similar funeral homes. According to clients, the monthly or quarterly Progress Report option is vital to their succes in managing expenses - which increases profitability. These one page snapshots check that your business is on target to reach sales goals and profitable expense levels.
There are various Business Plan levels available to meet most funeral home budgets.
Annual Consultation throughout the year is another service our clients tell us represents a key component to the Funeral Business program. All questions are answered as we work on solutions to your difficult challenges. Topics like competition, new ideas, vehicle purchase or lease, marketing, staffing, etc. characterize the issues we discuss with clients.
Strategic Planning (either formally or just basic conversation) is crucial in funeral service today. While many funeral home owners are creative-minded with limitless business ideas, we help prioritize the projects, testing for reasonableness and affordability. We offer an outside and unbiased view of your business with an eye on your firm’s financial strength.
Many of our clients use a local accountant for financial statements and income tax preparation – that works well for you and provides us with the financial information needed to analyze your funeral business.
Building Packages:The Simplicity Principle- Many firms find that client-families desire convenience when choosing burial and cremation services. While keeping within the requirements of the FTC Funeral Rule, presenting simple packages with merchandise photos improves your presentation and most importantly helps client-families make easier selections. We can help you build your packages or advise you as you build your own.
Consider that Nixon Consulting, Inc. accepts no “referral fees” from any company be it a preneed, casket, or vault company. Before you choose an advisor, you might want to ask about referral fees. Connections usually come with a price.