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Business Plan

http://www.fanwoodmemorial.com/_mgxroot/page_10718.php

Table of Contents

Definitions-----------------------------------------------------------------------------------------------------2

Segment One: Getting Started----------------------------------------------------------------------------3

Segment Two: Products/Services-------------------------------------------------------------------------6

Segment Three: The Marketing Plan------------------------------------------------------------------14

Segment Four: The Human Team----------------------------------------------------------------------20

Segment Five: Operational Plan------------------------------------------------------------------------24

Segment Six: Financial statements----------------------------------------------------------------------27

Segment Seven: Final Segment--------------------------------------------------------------------------30

References----------------------------------------------------------------------------------------------------32

Definitions

Memorial Funeral Home1

http://www.fanwoodmemorial.com/_mgxroot/page_10718.php

Calling Hours/Visitation – A time for friends and family members to convene at the funeral

home or another stated place prior to the funeral service.

Death Certificate – Signed by the coroner or attending physician/doctor upon death. Also,

states cause of death and is often required to finalize an estate, accounts, and release life

insurance funds.

Memorial Register – A book that allows friends and family members to record their names

during calling hours and/or the funeral service.

Memorial Service – A service where the body of the deceased is not present. This is common

with cremation.

Pre-arrangements – Those funeral arrangements made prior to one’s death either by family

members or the person themselves.

Removal – The process of picking up the body of the deceased.

Service Folders – Folders that are available to the friends and family during calling hours and/or

the funeral service. Often have date of birth/death, place of birth/death, and where

services will be held.

Traditional Funeral Service – This includes a casket, vault, calling hours and a funeral service.

It is the most common service that a family will choose.

Urn – Contain that encloses ones ashes following cremation. Also, requires a vault if being

buried.

Vault – An outer container that encloses the casket at the cemetery. In most cases, vaults are

required by law.

Segment One: Getting Started


Defining the Business

Memorial Funeral Home will be a 21st century funeral home that will reach out to all

people in a time of need with the new advances seen with technology. Our ownership team is

made up of a man that has seen a need for funeral homes in society and has wanted to create a

top of the line organization. This is a ceremonial practice around death that we will offer to the

baby-boomer and matures generations as we look to incorporate new technologies such as tribute

videos and other 21st century skills to each and every customer. We will offer a variety of

services and products to meet the needs of our customers.

Memorial Funeral Home will offer products and services to our clients to meet the needs

of each and every customer involved with planning an event of this magnitude. We know many

people may have hard feelings about issues that may arise, so we will hire two of the best

personable and professional employees around. To build a strong community reputation, there

will be a variety of technologies and other accessories that we will be involved with.

Mission Statement

The mission statement of Memorial Funeral Home is to achieve and assist meaningful

ways for families to grieve their loss and celebrate the reminiscences of their loved ones,

reaching particularly to the mature generation by using 21st Century Skills.

We will do this by providing updated technology resources, information options, and

assistance with the highest level of capability, consideration and compassion. We will provide

respectful and reasonable funerals, cremation services and always strive to exceed the

expectations of each family we serve. We will be the market leader in the facilitation and

creation of meaningful funeral experiences with the 21st century technology that we will provide.

Culture


The culture of our industry involves reaching out to assist those in meaningful ways. We

know that many of our clients may come to us with many expectations that will be considered

with how to deal with. In reaching out to our clients, we hope to meet each and every one of

their needs by offering things such as 21st century skills, which are becoming the future to

business. With the culture, we have tied in some of our important keys for success.

Keys to Success

The keys to success will be impacting our company by creating meaningful objectives

that Memorial Funeral Home will achieve. With this, we know that there are a variety of funeral

homes within a 15 mile radius of Memorial Funeral Home, so we want to make sure that we are

doing the best we can to reach out to each and every possible client. In addition, we feel

providing meaningful objectives are important to defining what we are. The three objectives that

will help with creating keys to success are expanding the use of reaching out to clients by

offering opportunities to make online purchases, providing interactive media and additional

options, and providing a top-of-the-line service to each and every customer.

Objectives

One of the meaningful objectives is for our clients to expand the use of reaching out to

our clients so they are able to accomplish the needs of purchasing online. Today with more 21st

century technology being used, it is important to be able to have 24-hours of online

communicating with what they are interested in purchasing. We hope to offer convenience to

each and every client with purchasing all items including clothing online.

Another objective of Memorial Funeral Home, which goes with the previous, is to help

our clients by providing interactive media and additional options. By having such things as

electronic obituary Webpages that can include facts, photos, and comments about the life of the


departed person is very important with our mission. Another service is the creation of a

slideshow DVD for memorial services. Customers may submit photos and choose an appropriate

musical selection from our catalog to accompany the slideshow.

The final objective is to assist and provide a top-of-the-line service to each and every

family. As our mission states, we will provide respectful and reasonable funerals and strive to

exceed expectations of each family we serve. In addition, to go along with our expectations, we

hope to tie the Center into the community of the living and develop positive associations.

Choosing a Name/Website

In picking a name and logo and creating a web site did take a lot of time. The logo that

we ended up deciding on is a burning fire. We picked it to symbolize both life and death. With

life, it is extremely imperative to recognize that life has been subsisted and has offered to the

community a way to commemorate that life. By offering custom-made and extraordinary

services, life of the person can be a tribute in remembering in a way that is soothing to the family

and friends. In addition, the burning fire symbolizes death. Each of these makes an integral part

to our culture.

Our web site involves a variety of features that relate to the 21st century experience.

These include web links to share any personal notes or additional information with

communicating messages to families, offering service packages available online. The website to

our business, which is named after the funeral home is www.memorialfuneralhomebg.org. The

web site will offer a variety of products and services to reach out to each and every client that

comes to us.

Segment Two: Products/Services


http://www.memorialfuneralhomebg.org/

Description of Products and Services

Memorial Funeral Home offers a wide range of products and services to meet the needs

of our customers. Due to the nature of the industry, our clients are in a difficult time of need

when they come to us. Because of the sensitive nature of the situation, it is imperative that all of

Memorial Funeral Home offerings present an array of choices that can easily satisfy the desires

of many different customers. This variety reflects selections that can work with different

budgets while still offering a level of professionalism and artistry that make a loved one’s

passing a much more dignified process.

In terms of products, the basic categories offered are caskets, urns, outer burial

containers, clothing, and special memorial packages. Memorial Funeral Home has a corporate

partnership with Batesville, one of the country’s leading manufactures of burial supplies. This

relationship will ensure that our funeral home will have a steady supply of traditional products to

meet any family’s budget, and will also help minimize the impacts of rising costs that are typical

for the industry. Also, all products offered are featured on-line in an interactive photo display.

While Memorial Funeral Home does have a showroom to display many items, the use of an on-

line display permits clients to view all of our offerings if they feel uncomfortable seeing tangible

merchandise. Each item view allows for customers to zoom or rotate the object to better see if it

will meet their needs.

The caskets that clients can choose from are evenly split between both hardwood and

metal selections. Hardwood caskets come in varieties from basic hardwood, to oak, pecan,

maple, cherry, walnut, or mahogany. Within these material types, customers will also be able to

choose from different exterior designs and interiors that vary from basic crepe to premium

velvet. These combinations will range in price from $1,500 to $8,000 each. Similarly, the metal


caskets also offer a variety of combinations. While the essential designs and interiors are the

virtually the same, the caskets themselves are available in basic steel, stainless steel, copper, and

bronze. Both types of steel are also available in several different colors. These caskets range in

price from $1,500 to $9,000.

Many customers prefer cremation for their burial needs, and Memorial Funeral Home

again has a range of choices to meet customer needs. Urns are available in numerous different

material types, ranging from porcelain, to brass, bronze, steel, aluminum, acrylic, marble, slate,

cherry, maple, oak, and mahogany. This variety of material types is matched by an equal variety

of styles, including simple finishes, artistic sculptures, and personalized engraving. These

choices again help our clients to find the product that will best serve the memory of their loved

ones. Urn prices range from as low as $100 up to $4,500.

Outer burial containers help to protect both the deceased and the casket or urn from

decomposition and the elements. Not only does this better preserve the burial, but these

containers are frequently required by many areas to maintain the structural integrity of the

gravesite. Memorial Funeral Home provides customers with a range of choices that includes

concrete, steel, aluminum, stainless steel, and copper vaults. To again provide more

customization, select vaults come in both finished and unfinished varieties, with or without

liners, and in varying degrees of thickness. This category has the widest variability in pricing,

with the most modest selections costing $1,000 and proceeding all the way up to $25,000.

There are a couple other products offered to customers. While not typically considered

as a burial need, Memorial Funeral Home also offers clothing for the deceased. Both dresses and

suits are available in a variety of dignified styles and can all be well tailored for any families

seeking to hold a visitation or open casket service. The prices of these outfits all range from


$100 to $300 each. Finally, the last option for our clients is our special Memorial Package. This

package includes a guest registry book, prayer cards, a laminated obituary, remembrance

candles, and a tapestry. These items conveniently allow clients to add a distinctive touch to their

services, and can feature a range of art including different religious scenes and natural

landscapes. This package is available for an additional $200.

As important as quality merchandise is to Memorial Funeral Home, the real offering of

this funeral home is the wide range of services. These cover everything from the basic, essential

services for preparing and transporting remains to other options that provide a more personal

touch for the family. The following paragraphs will describe these services in greater detail.

Our clients will have many basic needs that must be met during their time of loss. The

transfer of the remains to the funeral home itself is a necessary step in providing our other

services. The transfer itself and any expenses incurred are all covered for up to a 30-mile radius

for $200. However, because of the great inconvenience of travelling longer distances, as well as

the additional fuel expense, it will be necessary to charge an additional $1 per mile beyond the

basic distance.

Once at the funeral home, clients have some other choices to use when preparing the

remains. Except in very specific situations, embalming is an optional process. If the subsequent

burial arrangements selected allow, clients do not have to have this service provided. Otherwise,

Memorial Funeral Home will embalm remains for $800, and will take care of cosmetology,

grooming, and dressing the deceased for an additional $200. This way, the remains can last for

several days through visitations or travelling long distances for a final burial. Additionally, there

are several services that must be provided to coordinate funeral arrangements between the family


and the relevant third parties. Our basic service package costs $2,000 and provides the

following:

24 hour availability to respond to the initial contact for services.

Personal conferencing with the family to help select the most appropriate arrangements to

be made, as well as to obtain information for several required legal documents.

Caretaking of the remains for up to four days.

Coordination of funeral plans with religious representatives, the cemetery or crematory,

or any other necessary agencies.

Handling of paperwork regarding various notices, authorizations, and permits for

government offices.

A follow-up consultation to ensure that all details were properly met with the services.

Covers costs regarding compliance with waste management regulations, employee safety,

general administration, and record keeping.

Furthermore, included with any service is the option to have the funeral home staff secure

information for newspaper notices, contact catering services, and arrange flowers and memorial

tributes. Again, Memorial Funeral Home on-line catalogue offers the latest in selection and

pricing for the delivery of different flower arrangements. Also, the funeral home can

professionally comply with the standards of various religions to better meet diverse client needs.

Both visitations and funeral ceremonies can be arranged at the funeral home itself, or at

any other local site. The fees for setting up a viewing/visitation and for arranging a funeral

ceremony are both $500. If the deceased must be sheltered for days exceeding what was

provided in the basic service package, a charge of $75 per additional day will be required. Also,

transportation can be provided to and from these services. Both a hearse and a limousine are


available for rent at a price of $175 and $100, respectively. These fees include the driver’s time

and gas for up to the 30-mile local limit, with an additional $1 charged per mile beyond that

distance.

To supplement these services, Memorial Funeral Home uses interactive media to provide

clients with additional options. Electronic obituary Webpages can be constructed to include facts

about the life of the deceased, as well as photos, and a guest page where comments and

remembrances can be left by visitors to the site. While the cost for this service can vary

depending on how extensive a client’s needs are, typically sites can be easily constructed from a

general template for around $100. Another service is the creation of a slideshow DVD for

memorial services. Customers may submit photos and choose an appropriate musical selection

from our catalogue to accompany the slideshow. This presentation can be shown during a

service or set off to the side on a smaller display on a loop for guests to watch during a visitation.

Clients will be provided with one copy of the DVD for $25 and may order additional copies for

only $5 each.

Because funeral arrangements sometimes need to be very flexible, transportation to or

from another funeral home is sometimes required. Memorial Funeral Home can provide the

staffing and transportation involved in moving remains to another funeral home and to the

cemetery or crematory. The cost for this is $1,500 and does not include burial products or

additional services such embalming or the funeral ceremony.

Cremation services have several different variations and prices, as well. The most basic

services include all transportation for the remains, staffing, preparation of the body, a private

viewing before cremation, and any additional fees required. Additional services can include the


arrangement of graveside services, memorial services, and a full day for visitation. The basic

package costs $1,500, with the additional services potentially bringing the price up to $4,000.

Again, because funeral arrangements often need to be flexible to meet different needs,

Memorial Funeral Home can offer immediate burial services. This includes the basic services of

the funeral home staff, preparation of the remains, and the transfer of the deceased to the

cemetery. The charge for this is $2,000, but does not include viewing, ceremony, graveside

services, casket, or vault.

Competitive Advantages

As noted above, Memorial Funeral Home offers many products and services that are

typical for the industry. Though, there are some exceptions that are not found at many other

funeral homes. The incorporation of technology to allow for customizable websites and

memorial DVD slideshows allows for families to remember their loved ones in ways that wasn’t

possible years ago. By producing high quality media, our customers can have another way to

carry on the memory of the deceased without losing any of the professionalism of the other

services.

Yet, in many ways the funeral home business thrives on tradition; wild deviations from

the standard business model are often viewed as unprofessional and unwelcomed. However, the

main thing that Memorial Funeral Home offers above its competition is a full commitment to

customer service beyond the norm. As part of the basic package, our funeral home is ready to

respond to a request for service at any time of day or night. However, this commitment to the

customer doesn’t stop there. After regular business hours, the company’s website has a contact

section that can also reach a representative 24 hours a day. This system allows a client to select

from a standard list of issues and concerns that may need attention from funeral home staff.


Furthermore, there is also a free response section that permits the customer to type in any

additional information that could help us to respond to a request.

Another demonstration of our commitment to the customer has already been noted above;

the wide selection of customization in both products and services lets our clients tailor their

experience to best fit their needs. And, while the costs and fees for everything do apply to every

package, having so many options allows us to eliminate some of the smaller charges, especially

when a client requires a multitude of services from our funeral home. This ability to flexibly and

personably work with our clients helps to establish goodwill and a strong reputation. Especially

in the funeral services business, reputation and word of mouth are what drive success.

To reinforce this reputation, there are supporting activities that Memorial Funeral Home

performs. Essentially, it is crucial to do everything as professionally as possible. While

technology is utilized to better display product offerings and provide remembrances for the

deceased, no customers will be forced to utilize these avenues if they are uncomfortable with

new technology; during a time of loss, people should be subjected to as little stress and

aggravation as possible. Though, other little things can help Memorial Funeral Home to be

recognized as professionals. Meticulous care will be taken to ensure that any staff,

equipment/transportation, and the funeral home itself will appear both clean and orderly at all

times. Great attention is spent on all of these aspects in terms of both cosmetics and

functionality.

To help offset the increased costs of the investment in service, Memorial Funeral Home

exclusively works through one of the major burial product providers. Because of the fierce

competition between the three major companies in that industry, each one offers discount

incentives to funeral homes that are willing to only provide one company’s line of products.


While this does somewhat lower our selection options, Batesville is still large enough to offer a

diverse range of items to meet the needs of different budgets and personal tastes.

Evaluation of Quality and Customer Service

Because of the nature of funeral services, our business is not something that customers

typically show any interest in until they have an immediate need. Yet at this point, it is already

time to decide on a service provider. One of the key, but obvious, indicators of providing a

satisfactory experience is whether a family their friends hire you in the future. However, this in

itself is too reactive for a competitive business model; progressive action does need to be taken

to ensure that all customer needs are being fully met. There are a couple key ways in which

Memorial Funeral Home assesses its operations.

The first way is through the use of the company’s website. While the contact function is

primarily used to allow customers to submit their needs instantly, it also allows us to easily keep

record of what problems our clients continued to have. This will enable us to identify areas of

our funeral home that need either more support or reorganization to provide better service.

Additionally, there will be a follow-up contact with clients to make sure that they were

completely satisfied. This meeting will allow them to share any lingering issues that may have

lessened the overall experience. To prompt even more feedback, each customer will be sent a

bouquet of flowers from the funeral home in the days following the actual service. It will again

express our condolences for their loss and encourage them to contact us in the future with any

further questions or concerns. Essentially, the main evaluation of the job we are providing can

only be done by staying in contact with our clients and by letting them know that Memorial

Funeral Home is ready to serve their needs in the future.


Segment Three: The Marketing Plans

The Customer

Memorial Funeral Home provides services for a variety of customers. Due to the nature of the

funeral services industry our customers vary from people who are still living that are elderly, and

the children and friends of those who are elderly.

Market Segment

Memorial Funeral Home will target the following specific market segments:

The elderly also known as the matures where born before 1945. This generation is

comprised of individuals who are age 64 and older. They are mostly retired and are

mostly concerned with health issues. This generation is more likely to seek life insurance

and make pre-arrangements before they die.

The baby boomer generation who are between the ages of 45 and 63. The people who

make up this generation are the offspring of the matures. Because not all matures take the

initiative to set up funeral arrangements before they die, it is often left to their children to

make arrangements.

The mortally ill. People who face imminent death due to illness. These people have some

sort of illness such as cancer, viruses like HIV, or other life threatening diseases. These

people are faced with the realization that their life will end due to some sort of illness and

need to prepare funeral arrangements. Because some people do not want to face the

realization of death, funeral arrangements may be left up to the family of the ill. Family

members may choose to take care of the pre-arrangements as to not cause further stress to

their ill family member.


Emergency Medical Technicians (EMT’S) and Paramedics. These people “provide on-

the-scene, immediate medical care to patients in emergency situations such as an

automobile accident or heart attack” (Become an EMT). Occasionally EMT’s and

Paramedics transport the deceased from on-site directly to the funeral home.

Wood County Residents – The population in Wood County was around 125,000 in the

year 2008. The largest city in Wood County is Bowling Green.

First Years Sales Forecast

In 2006 over 930 people died in Wood County, The closest funeral home is Dunn Funeral

Homes. If Memorial Funeral Home can acquire a 100 of those customers, then our sales

projections for the first year at an average cost of $8,000 per funeral would be $800,000.

Main Competitors

Our competitors are other funeral homes within a fifteen-mile radius of our location,

which include fourteen funeral homes in 10 different cities and towns. Our main competitor

would be Dunn Funeral Home, the only funeral home located in Bowling Green Ohio. They

pride themselves on quality and service, however they position themselves as expensive and

costly. Dunn Funeral Homes does incorporate technology through the use of their website, they

will comprise a memorable CD with photos on it, and lastly they will video tape the funeral.

They offer fewer services as Memorial Funeral Home, but what they provide is top of the line.

Though Dunn Funeral Home offers many of the same services as Memorial Funeral

Home, we separate ourselves in two main areas. The first area is the number of service options

we make available to our customers. By offering a large amount of service options we are able to

acquire products such as caskets or earns cheaper than Dunn Funeral Homes. We then are able to

pass these savings on to our customers who do not want to sacrifice quality for their loved ones.


The second area is the use of technology. Other funeral homes will create a slide show with

pictures. Memorial Funeral Home can create a slideshow/DVD with music and sound that can

run during visitations and ceremonies. They are also available for friends and family to purchase.

Additionally, Memorial Funeral Home offers its customers a website in which friends and family

can visit to play videos, look at pictures, and relive and celebrate their loved ones life from a

personalized website.

Pricing

At Memorial Funeral Home customers will have a wide selection of services to choose from.

This allows us to position ourselves as a quality service provider that can handle different

customer budgets. We offer low, medium, and excellent quality products suitable for customers

needs and wants.

Pricing List

Wood Caskets

Oak Pecan Maple Cherry Walnut Mahogany

Price $1,500 $3,225 $3,650 $4,840 $6,800 $7,150

Metal Caskets Steel Stainless Steel Copper BronzePrice $1,500 $3,900 $6,500 $9,300

Interior of Casket Crepe VelvetPrice $100 $250

Urns Porcelain Brass Bronze Steel Aluminum Acrylic Marble Slate WoodPrice $150 $1,000 $1,500 $500 $750 $800 $2,000 $1,000 $300-$4,000

Outer Burial Containers

Concrete Steel Aluminum StainlessSteel

Copper

Price $1,000 $1,870 $2,250 $6,900 $22,500

Clothing Dresses SuitsPrice $100-300 $100-300

Other Memorial Prolonged Embalming Cosmetology Basic Funeral Ceremony


Services Package Shelter / Grooming PackagePrice $200 $75/day $800 $200 $2,000 $500

TransportationServices (1

time charges)

Hearses Limousine Transfer Transportation of Body

Cost after 30 miles

Price $175 $100 $200 $150 $1/mile

TechnologyServices

Web Page Slideshow / Copies

Price $100 $25/5

Location

Memorial Funeral Homes will be located at 511 W. Wooster St. The reason for this

location is that we will be centrally located between two fire houses which house EMT’s and

Paramedics, the Wood County Hospital, the police station, and the Oak Grove Cemetery which

are all a few blocks away. The surrounding area is beautiful, with old Victorian style homes,

conjoined with the city park. Down town Bowling Green in three blocks east and is a possible

great way to celebrate the life of loved ones. W. Wooster St. is frequently traveled, as it is also

State Rt. 64. Getting to Memorial Funeral Home will be simple as it is on the main stretch of

road leading to one of the most traveled interstates in the United States, I-75.

This location will also meet all of Memorial Funeral Home’s needs. It has ample parking

for calling hours and funerals. Also, the building is large enough to house a chapel, product

showroom, meeting room, and embalming room. Furthermore, the building is within Memorial

Funeral Home’s budget. Finally, this location will allow for expansion of the facilities. This

will allow the funeral home to build an addition onto the chapel, which will allow for even more

space for families and friends to gather.


Promotional Plan

To promote Memorial Funeral Home we rely on different media channels, word of

mouth, and community sponsorships. The different types of media we will advertise through will

be:

Television – Commercials will be aired on public television stations such as PBS during

the day. Our target audience supports and watched public broadcasting and advertising

during the daytime will give us the most exposure to the mature generation audience with

the lowest cost.

Local Radio – Advertising on radio stations such as the classical music channel, and

during Paul Harvey and NPR News. Using radio is mostly targeting the mature

generation as they are mostly retired and stay at home during the day. This is a fairly

inexpensive media by which to advertise.

Newspaper – Placing ads in the local newspapers can help reach the mature generation,

as well as the baby boomer generation.

Brochures – Brochures will be given to the local hospitals. To help family and friends of

their loved ones who are in the process of passing away, hospital administrators and

counselors can inform them of their next steps and refer our services to them.

Yellow Pages – Placing a small ad in the yellow pages will help our potential customers

locate and be able to contact us easier.

Website – Using the web site is a great opportunity for our company to display and

expose our services to potential customers. By making the website inviting and easy to

use, potential customers can browse catalogs, pricing lists, and the services we offer. The

website can make it easier for the mature generation to make a decision on their


arrangements, as they would not have to visit Memorial Funeral Home until it they have

passed away. Finally, it makes things easier for the children and friends of the loved one

help determine arrangements and provide them with information on directions and

funeral details.

Google AdWords – Google AdWords is a Google sponsored advertising campaign. It is

designed to show your company’s link first within the search list. Millions of people use

Google and the first place people often look when they need something, is Google. When

using Google AdWords we only pay if someone clicks on our link. For the baby boomer

generation this will be one of the best channels to advertise through as most of them own

and operate a computer on a daily basis.

Another way to promote our business is through community sponsorships. By sponsoring

local youth sports teams and youth organizations, we start building report with the community.

Also, by sponsoring fundraising and charity events, we position ourselves as giving business of

the Bowling Green Community.

We at Memorial Funeral Home also believe that positive word of mouth is one of the best

ways to promote our business. In order to create positive word of mouth we must create a great

experience for the family and friends of the deceased. If we can impress the friends and family

they might consider our services in the future. To do this we must make sure that every contact

with a potential customer is a good memorable one. In order to do this we will have to put in

several customer service measure points.

Change and Improvement

In order to change and improve our business, we will create many points in which

customers can evaluate our service. One way is for family and friends to go online and fill out a


survey using Zoomerang an online software tool that is free and allows us to get out personalized

surveys fast and efficiently. Using the information we gather through Zoomerang we can change

and improve our services to make sure the next service we perform is at a higher standard. This

survey will be provided to families at the post-funeral meeting.

Segment Four: The Human Team

Internal Team

Memorial Funeral Home will initially require the following personnel:

Owners – We will fill this position and will oversee, from a distance, operations and

major financial decisions of the entire funeral home. The funeral director/embalmer and

their staff will handle many of the basic tasks.

A fulltime funeral director/embalmer - They will be required to have at least five years

experience in a funeral home. He will serve as the salesperson, administrator, manager,

and embalmer. Initially, they will be paid a base salary of $50,000 with a 3% raise every

year thereafter.

A fulltime administrative assistant – They will be responsible for answering the phone,

filing and completing paperwork, basic accounting work, helping with calling hours,

running errands and upkeep of the funeral home. Requirements for this position will be

five years experience in administrative assistant type work. They will have an initial

salary of $30,000 with a 3% raise for every year thereafter.

Three part-time employees – These employees will be retired persons that are looking

for part-time work. They need no experience in working for funeral homes, but they

must have good communication skills and be able to work a flexible schedule. They will

be responsible for working calling hours, upkeep of the funeral home, helping with


burials, and making removals. They will be paid $14 per hour and will not be allowed

overtime.

In order for the Memorial Funeral Home to keep track of employee hours and schedule,

the firm will use the technology of ScheduleSource. This is a software program that allows

employees to keep track of their hours, set their schedule, and let the firm to see all employee

expenses over a set amount of time.

Recruitment

Memorial Funeral Home wishes to staff the best personnel available. To do this, we will

be advertising the positions available through a number of online sources and staffing agencies.

Initially, each of the five positions will be posted to online jobs boards such as Monster.com and

CareerBuilder.com. Should this not yield any qualified candidates, the funeral home will employ

the services of The Right Thing Incorporated (RTI), which is a staffing agency. Through their

advanced staffing technology, they will be able to locate and hire the best possible candidates for

the available positions.

There will be two interviews for each of the positions available. The first one will be a

phone screen completed by RTI or myself. Should the candidates pass the first interview, they

will be invited to a second interview that will be completed in person with myself. From this

meeting, I will decide if the person meets the requirements of Memorial Funeral Home. If so,

they will be offered the position and negotiate for vacation and the like.

External Team

Because running a funeral home takes quit a bit of time, Memorial Funeral Home will

rely on an extensive external team that will include:


Local Flower Shops – They will deliver flower arrangements and other tribute items to

the funeral home in time for calling hours or funeral services. Families will be able to

access their websites during arrangements to view and place orders for casket sprays and

family arrangements.

Tax Accountant – Because the administrative assistant will complete basic accounting

tasks, the tax accountant will only be required for annual tax preparation for the funeral

home. All tax information will be taken from the companies QuickBooks and forwarded

to the accountant.

Lawyer(s) – The funeral home and its staff are covered under the Ohio State Board of

Embalmers and Funeral Directors. Because of this, the funeral home will not need the

services of a local lawyer for major issues, but may need to employ one for minor

document preparation. Furthermore, typically families of deceased are in need of a

lawyer. We will make recommendations of local lawyers if asked by the families we

serve.

Insurance Agent – We will require the services of an insurance agent that will cover the

funeral home’s liability, building insurance, health insurance for the two fulltime

employees, vehicle insurance and pre-arrangement insurance. Because the funeral home

has the need for ample insurance products, discounts will be offered by the insurance

agent and therefore, save the company money.

Coroner/Doctors – These personnel will assist the funeral home in declaring causes of

death, completing an online death certificate and applying their electronic signature to the

document in a timely manner. Because this certificate is needed prior to burial,

timeliness of these documents is crucial. Memorial Funeral Home will keep in constant


contact with local coroners and physicians in order to have positive relationships with

them.

Local Caterer – They will prepare funeral luncheons for families that so wish. Families

will be able to access their menu via our website during arrangements and place an order

with them.

Local Newspaper Staff – These personnel are essential to printing obituaries in the

newspaper. Obituaries will be emailed to the newspaper staff and printed in the

newspaper.

Batesville Casket Company – The casket company will provide the casket and/or other

funeral merchandise in a just-in-time delivery system. Orders will be placed through

their website to ensure that the product is correct and delivered on time.

Cemetery Sextons – These personnel are in charge of locating the cemetery plot for the

families and actually digging the holes for burial. They will be contacted via telephone

for the opening/closing of the grave to ensure that all information is correct.

Vault Company – Orders for vaults and tents will be placed through the vault companies

website. The vault company personnel are in charge of preparing the burial site for the

actual burial, which includes lowering the vault, erecting the tent for the service, and

lowering the casket for final interment.


Company Organizational Chart

Memorial Funeral Home will follow this basic organizational chart:

Segment Five: Operational Plan

Legal Structure Memorial Funeral Home will operate as an Limited Liability Company for the following

reasons:

Avoid the double taxation of corporations

Profits/losses will pass through the owner’s personal taxes

Tax deductions available for the owner

Liability protection for the owner’s personal assets

Minimizes paperwork and relatively easy to form

Flexibility allowed for management of the funeral home

A local attorney will be employed to draw up papers that will form Memorial Funeral

Home as a Limited Liability Company.


Operating Process

Memorial Funeral Home will serve its customers from beginning of the funeral process to

the end. The initial process begins with the notification of death by a family member, coroner,

hospital, or nursing home. The funeral director and/or part-time staff are then contacted to make

the removal of the body and establish initial contact with the family members of the deceased.

At this point, the funeral director will set up an appointment for arrangements at the funeral

home. The deceased is then delivered to the funeral home where the embalmer performs

procedures to prepare the body for visitation/funeral services. Also, at this point, the newspapers

are notified of a brief notice of death to publish in the next issue.

The arrangement meeting is the next step in the operating process. Families convene at

the funeral home to determine the following:

Prepare the obituary

Determine traditional services or cremation

Choose casket/urn and vault

Choose printed materials (service folders, memorial register, pictures for tribute video)

Present the family with the general price list

Arrange a time/day for visitation and/or funeral/memorial services

Contact cemetery

Contact clergy

Choose food for luncheon

Notify pallbearers

Any other actions that need to be completed prior to services

Clothing chosen for burial


To better serve families who do not wish to look at tangible merchandise, the funeral

home will offer a computer program that allows them to virtually choose a casket, urn, vault or

any other merchandise required.

Following the arrangements, the funeral director will ensure that the obituary is sent to

the appropriate newspapers, the casket will arrive on time, the vault company know the funeral

date and time, and all paperwork is completed. Furthermore, they will make sure that the funeral

home, equipment, and automobiles are prepared for service.

Immediate family members will be invited into the funeral home an hour prior to calling

hours for a private viewing. This will give members of the family personal time to spend with

their loved one. During this time, the funeral home director will tell the family what to expect

for calling hours and how the line will be formed. Details about how the funeral service will

proceed will be explained to the family following calling hours. Typically, funeral services will

be held at the funeral home. The procession will then travel to the cemetery for interment.

Following the service, family members may convene at a given location for a luncheon where

flower arrangements will be distributed.

The funeral home will follow-up with the family a day or two after the funeral service to

give them any donations made in memory of the deceased, copies of the death certificate, extra

service folders, memorial register, and a finalized purchase agreement. The purchase agreement

will be due in 60 days and will have a 2% discount if paid within 30 days of the funeral service.

This purchase agreement will be generated from a software program that gathers all expenses

entered by the funeral home for any given service. This will allow us to track the costs of all

funerals and refer back to if necessary. Finally, a follow-up meeting will be arranged with

family members to provide feedback on their experience with the funeral home. They will be


encouraged to share their thoughts during the meeting or on our website at a later date. This will

allow us to better serve families in their time of need and will also end the funeral process for

them.

Inventory Plan

Due to the just-in-time delivery process of major products such as caskets and vaults, the

amount of inventory the funeral home will keep on hand will be minimal. Office materials will

be the main inventory kept by the funeral home. For example, different service folders and

memorial books will be housed within the funeral home for sale. Also, embalming fluid and

other body preparation materials will be kept in inventory. Overall, the funeral home will have

no more than $1000.00 in inventory at any given time.

Segment Six: Financial Statements

Projected Cash Flow

Memorial Funeral Home plans to provide 100 funeral services our first year in business,

which will bring in $800,000 in gross revenue. We plan our expenses coming to a total of

$221,000. We will be able to set aside money for unexpected occurrences and even pay off our

loan or make extra payments if necessary. Part time payroll is based on 20 hours per week at $14

per hour. Each salary position will rise 3% each year. We have projected our expenses to rise

1.5% each year in hopes that this is over budgeting.


The following is Memorial Funeral Home’s projected financial statements:

Memorial Funeral HomeProfit & Loss for First Year of BusinessJanuary 1, 2010 - December 31, 2010

Ordinary Income Income Sales: $800,000 Total Income $800,000 Cost of Goods Sold $85,000 Total COGS $85,000 Gross Profit $715,000 Expense Accounting Fees $2,500 Advertising $5,500 Equipment $8,000 Insurance $6,500 Loan $30,000 Office Supplies $2,500 Payroll Expenses Full Time $80,000 Part Time $43,680 Repairs/Maintenance $6,000 Taxes $30,000 Utilities $6,000 Total Expense $220,680 Net Ordinary Income $494,320 Other Income/Expense Interest $2,300 Total Other Income $2,300 Net Other Income $2,300 Net Income $496,620


Memorial Funeral HomeProfit & Loss for Second Year of Business

January 1, 2011 - December 31, 2011 Ordinary Income Income Sales: $850,500 Total Income $850,500 Cost of Goods Sold $85,000 Total COGS $85,000 Gross Profit $765,500 Expense Accounting Fees $3,750 Advertising $8,250 Equipment $1,200 Insurance $9,750 Loan $30,000 Office Supplies $3,750 Payroll Expenses Full Time $82,400 Part Time $44,990 Repairs/Maintenance $9,000 Taxes $45,000 Utilities $9,000 Total Expense $247,090 Net Ordinary Income $518,410

Other Income/Expense Interest $4,000 Total Other Income $4,000 Net Other Income $4,000 Net Income $522,410


Memorial Funeral HomeStart-up Expenses

January 1, 2010 - December 31, 2010 Expense Building Expense $200,000 Accounting Fees $2,500 Advertising $5,500 Equipment $8,000 Insurance $6,500 Loan $30,000 Office Supplies $2,500 Payroll Expenses Full Time $80,000 Part Time $43,680 Repairs/Maintenance $6,000 Taxes $30,000 Utilities $6,000 Total Expense $420,680

Segment Seven: Final Segment

Memorial Funeral Home will provide celebration to the life and well-being of each and

every client that experiences a loss such as this. The products and services that we will offer

involve reaching out to people to show the support that can contribute to something such as a

funeral. This environment will involve reaching out to a variety of individuals such as the mature

generation using 21st century technology advances as opposed to modern day funeral homes with

the use of advances such as slideshows/ DVD with music. In addition, to the 21st century skills,

we provide a variety of service options. Just as a funeral home, the practices will target those

experiencing near death, as currently practicing ones are experiencing a growing segment of the

population feeling poorly served. This plan outlines the strategy that Memorial Funeral Home

will define and dominate a new category of funeral provider to the Bowling Green, Ohio


community. It also details how the financing acquired will be used toward because of Bowling

Green being one of the biggest cities in Wood County.

In addition, we will be a Limited-Liability Corporation within the Northwest Ohio area.

The location of funeral home plays an important factor with what we hope to cover in our future.

With Memorial Funeral Home, we hope to develop during the first five years and build a

reputation as a top-quality place for local prominent persons of the mature generation to

celebrate their lives when they end.

The website will foster human connection and uplifting commemoration to attract

business in a way that provides support for the charities that it supports. Some of the perks to the

web site will be with offering digitalized slide shows and pictures, music, spaces for comments,

and a variety of other sorts of recognition.

Memorial Funeral Home believes in offering a fair assessment consistent with all the

other funeral homes around the area. The future constantly needs funeral homes such as

Memorial to help remember those that have gone before us.

References


Become an Emergency Medical Technician (EMT). Retrieved on November 20, 2009 from

http://www.allalliedhealthschools.com/faqs/emt.php

Casket Price list from Lucas-Batton Funeral Home. Retrieved on November 14, 2009 from

http://www.lucasbatton.com/

Centers for Disease Control and Prevention. Retrieved on November 20, 2009 from

http://www.cdc.gov/nchs/fastats/popup_OH.htm

Different Generations. Retrieved on November 20, 2009 from

http://www.pasty.com/~barbspage/Different-Generations.html

Dunn Funeral Home / Staff. Retrieved on November 20, 2009 from

http://www.dunnfuneralhome.com/staff.htm

General Price list from Lucas-Batton Funeral Home. Retrieved on November 14, 2009 from


Testa, Michael. How Much Does an Average Funeral Cost?. Retrieved on November 20, 2009

from http://ezinearticles.com/?Funeral-Costs---How-Much-Does-an-Average-Funeral-

Cost?&id=1629466

Vault Price list from Lucas-Batton Funeral Home. Retrieved on November 14, 2009 from




http://ezinearticles.com/?Funeral-Costs---How-Much-Does-an-Average-Funeral-Cost?&id=1629466

http://ezinearticles.com/?Funeral-Costs---How-Much-Does-an-Average-Funeral-Cost?&id=1629466


http://www.dunnfuneralhome.com/staff.htm

http://www.pasty.com/~barbspage/Different-Generations.html

http://www.cdc.gov/nchs/fastats/popup_OH.htm


http://www.allalliedhealthschools.com/faqs/emt.php

Documents

€¦ · Web viewWe at Memorial Funeral Home also believe that positive word of mouth is one of the best ways to promote our business. In order to create positive word of mouth we