How One Man Intends to Change the Face of the US Funeral Industry
Despite the fact the funeral industry in the United States is worth $20.7 billion a year, it is fair to say that funeral homes have faced their fair share of challenges in recent years. As an article in Forbes describes the situation: ͞Death is a dying industry͟. The soaring costs of funerals described in the article means funeral homes have had to transform the way they operate and find a new approach or face going out of business, however the industry faces other challenges, too.
The Need for Change
Times and traditions are changing, and this has impacted on the funeral industry more than most of us might imagine. Crain’s reports that consolidation has put pressure on smaller, independent funeral homes, the younger generation is unlikely to want to join the traditional family funeral business, and the popularity of cremations is on the increase as the cost of a funeral soars. This need to bring change to the industry has seen many funeral home owners taking their businesses into an entirely new direction. For some, it’s hosting weddings, while others transform their funeral homes into party venues, but there is a new, distinct trend that is altering the way a funeral is arranged.
Storefront Funeral Homes: A Growing Trend
Storefront funeral homes solve one of the biggest problems facing the industry today: the rising costs. The median cost of a funeral now surpasses $7,000, according to figures from the NFDA, and they can be as much as $10,000. The storefront approach operates from a retail base or an office location. They work by subcontracting out the main services, helping to keep costs low for grieving families. Although one of the main advantages of a storefront funeral home is the reduced costs, this setup also takes away some of the intimidation the people can feel when stepping inside a more traditional funeral home.
Changing the Face of the Funeral Industry
The move towards less traditional funerals and rise in storefront funeral homes isn’t a trend that has gone unnoticed by Jon Garcia, a successful funeral home owner who is intent on changing the funeral industry year by year in the way he manages his business. Garcia is the owner of Funeral CreditCare. Dubbed "the expected options for unexpected times", Funeral CreditCare was established with one aim in mind: to help families in financial need who needed an affordable way to pay for a funeral.