In the last couple of weeks I’ve noticed articles that truly point to Death Care as being at a nexus, or intersection, of technology and tradition.  Today’s Funeral Director Daily article brings you information and links to articles that truly show that Death Care is changing.

There is one article that shows evolution of a company to be able to meet the needs of today’s consumer.  It’s an article from a company with its roots in the casket business that has changed over the years to become what they term “The Cremation Solutions Leader”.

There is also an article that shows how some investors see enormous potential in the technology of Death Care and how the business can be coupled with health care, grief, and insurance to bring big changes to how consumers might interact with those business silos with greater ease and savings.

Finally, we bring you an article where an ethnic group is partnering with their federal government to keep funerals traditional for them in what indicates a growing sense of cultural niche services in Death Care.  Cultural options, much in line with the old “Catholic vs. Protestant” funeral homes of the past, is something that may be making a comeback on the horizon.  I can also see opportunties and envision certain Death Care companies making “compacts or agreements” with these groups to operate, or manage, such facilities as was done early on in the gaming world and is being done today as senior care centers of certain sizes look for contracted management outside of their walls to reduce costs.

It’s probably a good point to note that “change” is difficult for many, however the thought process of not looking at what North American consumers seem to be wanting in future Death Care may be detrimental to your business.  These business groups seem to have made decisions, and investments, based on a future of technology, cremation, and tradition. . . . and all, based on their investments, believe that there is a market for them to succeed in today’s Death Care business environment.

Folowing are the three articles mentioned above that we have linked for your convenience:

Acquisition —  Starmark Cremation products acquires Chateau Urns.  

Additional Starmark information — Starmark website

Equity Funding —  Exclusive:  Empathy raises $72 million Series C to tackle the agonizing logistics of death.  Yahoo Finance

Additional Empathy information —  Empathy announces $72 million Series C and unveils Empathy Alliance.  BusinessWire

Additional Empathy information —  Empathy website

New Funeral Homes —  Peepeekisis Cree Nation breaks ground for new funeral home.  Government of Canada news release

Additional Peepeekisis Cree Nation information — Peepeekisis First Nation plans to open funeral home that meets cultural needs.  CBC Canada

More news from the world of Death Care:

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“A servant’s attitude guided by Christ leads to a significant life”

Are we living in the age of Debt, Demographics, and Disruption?  And, if we are, are there parallels from life and investing that might also move into the Death Care realm?

I heard the phrase “Debt, Demographics, and Disruption” when I sat down to catch my breath on Wednesday afternoon after returning from an afternoon of working on the lawn at our lake cabin.  It was mid-afternoon and I heard it on the Claman Countdown on Fox Business Channel which is aired one hour prior to markets closing.

The phrase caught my attention because of the word “Demographics” and how I always relate America’s changing demographics with how it will affect the Death Care business.  Turns out the Claman Countdown was interviewing Mike Smith, an investment advisor  with Allspring Global and he mentioned that we were living in a world of Debt, Demographics, and Disruption.  You can see a short video of his explanation and a printed transcript here from Yahoo Finance.

In any regard catching the phrase made me think, as I mentioned, in Death Care terms and here’s some thoughts I have on the phrase and how it relates to Death Care businesses.

Debt — I think it is good for businesses to be nimble  —  to be able to move their resources into categories that will build their businesses.  If you have too big a percentage of your revenue going into the expense category of “Debt or Interest” it is hard to be nimble because it is hard to stop making those payments.

Just yesterday we published an article that Great Britain’s Dignity Funeral Directors sold about 90 of their under-performing funeral homes and used the proceeds to reduce their debt.  On this side of the Atlantic Carriage Service has also been upfront to their stockholders, through their quarterly reports,  that part of their process going forward is to reduce the percentage of debt they are paying.  Paying it off early will make them more nimble.

Take a look at your debt service.  If there is a way to pay some off early, think about doing it. . . . It will give you more flexibility moving forward.

Demographics —  Mr. Smith talked about the aging of America in terms of how health care payments will be dealt with and who will benefit from the coming aging tsunami.

According to him, Baby Boomers start turning 80 next year and we will soon have 70 million of them.  That will be a boom for funeral homes and death care providers if. . . . . . . your locations are in the locations that these Baby Boomers live in and if the services you provide are what they are asking for.

Disruption —  Mr. Smith talked about Disruption in some of the same terms that others do. . . with the focus being on how Artificial Intelligence and technology moves forward in our lives.

Tom Anderson
Funeral Director Daily

I’m pretty certain that there will be some disruption in Death Care. . . . . . What we don’t know is how disruptive things may become or if the disruption is minor over time and does not change the business of Death Care which would include disposition, ceremony, and memorialization that is usually lead by the traditional funeral homes.

There is already some movement away from those traditional retail funeral outlets and time will tell if it is a fad or a long-term social change.

In any regard a good column to end the weekend on. . . . As you’re mowing the yard or sitting at the lake this weekend you can ponder funeral service and how the 3D’s mentioned in this article will intersect with it.

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“A servant’s attitude guided by Christ leads to a significant life”

It seems like only yesterday that that President Trump and the United States Congress and Senate passed the Tax Cuts and Jobs Act (TCJA) that business advisor Clifton Larson Allen (CLA) states “brought sweeping tax changes to businesses and individuals”.  However, it was in 2018 and to show how fast time moves, we will soon be in the period that some of the provisions of that legislation “sunset” or “expire”.

The “Sunset” provisions take effect on January 1, 2026, so we are less than two years from that period. Because the sunset is part of law, it would take an act of Congress to prevent it. . . .and where we are in today’s world with a divided Congress, that doesn’t look too promising.

According to CLA here’s some of what will be affected by the Sunset provisions:

• Individual Income Tax rates
• The Qualified Business Income Deduction
• The State and Local Tax Deduction (SALT)
• Mortgage interest deductions
• Charitable contribution deductions
• Estate and Gift Taxes

To learn more about this situation you can read a paper from CLA on the expiring changes here.

For more information on what’s else is happening on the regulatory side of business you can check with CLA here.

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“A servant’s attitude guided by Christ leads to a significant life”