Seeking Alpha author Daniel Jones made the following comment in this opinion article titled “Carriage Services is coming back to life” published last week about the company:

“. . . I believe that the market is currently underestimating Carriage Services. The business has done a fine job of reorienting itself over the last couple of years, and it clearly is back in growth mode. . “

As is Funeral Director Daily’s policy for financial opinion articles, we will link the article and show some quotes on the article but let the reader make their own decisions as to the opinions given.

Jones makes the following claims at the beginning of the article about Carriage Services:

• “Carriage Services remains deeply undervalued, with strong top-line growth and demographic tailwinds positioning it for long-term success.”
• “CSV’s recent acquisitions and expansion into new markets signal a return to ‘growth mode’ after significant debt reduction and strategic review.”
• “Despite mixed profitability in recent years, 2025 guidance points to higher revenue, improved adjusted earnings, and attractive valuation versus peers.”

Funeral Director Daily will also provide these interesting graphics that accompanied the article for your knowledge:

The continued high fragmentation of the industry allows for more consolidation

America’s aging population creates tailwinds for Death Care providers

Carriage Services location map (As of December 31, 2024)

Disclaimer — The author of this article for Funeral Director Daily is a shareholder of Carriage Services.

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

According to the Milestone Funeral Partners website, which you can access here, and information placed on social media, the Maine-based funeral home operator and consolidator added four funeral home businesses to their number in the last couple of months.

Announced on August 8 on the company website was information about the acquisition of the Hooker and Whitcomb Funeral Home of Barre, Vermont.  Another announcement on social media made this comment about the transaction:

Serving the Barre, VT community since 1908, the Whitcomb and Hooker names have been synonymous with compassion, care, and tradition. In their early days, during the 1930’s, their firm served as Barre’s first dedicated funeral facility, marking a shift from home-based services to modern funeral homes. They even pioneered motorized hearses and today, are located at their Academy Street location, where their legacy of service spans generations.

On August 29 the Milestone Funeral Partners website made the following announcement about the acquisition of The Avery-Storti Funeral Home and Crematory of Wakefield, Rhode Island:

More recently, the acquisition of the Lombardo Funeral Home of the Greater Buffalo, New York market was announced on October 2 and on October 3 Milestone Funeral Partners added to their website and group of funeral homes the Sansone Funeral Home of Bristol, Rhode Island.

Here is the website for Hooker and Whitcomb Funeral and Cremation Services

Here is the website for The Avery-Storti Funeral Home and Crematory

Here is the website for the Lombardo Funeral Home.

Here is the website for the Sansone Funeral Home.

Here is the website for Milestone Funeral Partners

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

Maybe there is something to the ongoing prediction that a whole lot of funeral homes will be changing hands in the next 3 to 5 years.  Barely after we were able to get a press release from Park Lawn Corporation out about a funeral home/cemetery expansion in New Mexico we received this press release announcing the sale of the Wages and Sons Funeral Homes in Georgia to Park Lawn Corporation.

According to the press release which we received on Monday, October 6, 2025:

“Park Lawn Corporation (“Park Lawn“), is pleased to announce that, effective today, it acquired substantially all of the assets of Atlanta Crematory located in Stone Mountain, Georgia; Cremation Society of Georgia located in Atlanta, Georgia; Wages & Sons Funeral Home located in Stone Mountain, Georgia; Wages & Sons Funeral Home Gwinnett Chapel located in Lawrenceville, Georgia; and Wages & Sons Gwinnett Chapel Crematory located in Lawrenceville, Georgia (collectively “Wages“). This transaction strengthens Park Lawn’s presence in the greater Atlanta, Georgia market through the addition of two (2) stand-alone funeral homes as well as a cremation focused provider.”

Jennifer W. Hay, Chief Executive Officer of Park Lawn Corporation made this prepared comment about the transaction in the press release, “We are excited to expand our presence in the State of Georgia through the strategic acquisition of the Wages businesses. For years, these businesses have been trusted pillars in their communities, recognized for their compassionate service and care. We are honored to partner with Jeffrey to carry this legacy forward. We warmly welcome each of the Wages businesses and their esteemed staff into the Park Lawn family, and we look forward to continuing their tradition of excellence in serving the families of the greater Atlanta area.”

Here is the website for the Wages and Sons Funeral Homes & Crematories

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  Just like the title of the hit song, “I’m a Believer” when it comes to the prediction that there will be many funeral homes changing hands in the forseeable future.  Not only are there many current family funeral home owners reaching the age of retirement but many of those firms have no next-of-kin interested in continuing as the next generation in the funeral business.  That lends itself to the eventuality of many funeral homes coming to market and many opportunities for current operators to expand their businesses with a “right-time”, right-facility”, “right-location” acquisition.

I’m guessing we will continue to hear about acquisitions as we move farther into the 4th Quarter of the year.  First of all, it is convention time and many firms like to have the momentum of acqusition announcements rolling into the convention where they get a chance to visit face-to-face with many targets.  Secondly, the process of offer/acceptance, due diligence, and closing takes some time so the firms we hear being acquired at this time of the year were probably companies on the market at the beginning of the year, a time many firms take their firms to the consolidators.

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

Pension funds and endowments have the responsibility of shepherding for safety, growth, and income their assets into a multitude of investments.  I’ve learned that most of those types of investors invest in bonds and private debt for income and stocks for short-term growth.  Some will invest up to 5% of the assets into new ventures hoping to make a better than average return on those funds while realizing that there is risk involved also.

But I’ve also learned that pension funds and endowments invest a very large percentage of their assets into what I would call “slow-growth” infrastructure that is not real liquid.  Much of this type of investment is in commercial real estate, agricultural land, cell phone towers, storage facilities, and energy production infrastructure.

While stocks and bonds of funeral service companies have been bought and sold as investments for pension and endowment funds, I’m not sure if any pension fund or endowment fund has invested in what one might call “an infrastructure investment” in Death Care.  If so, I’m trying to think of what that infrastructure would have been  — maybe a cemetery?

I think that is what makes the recent acquisition by British pension fund manager Railpin of Horizon Ceremonies Limited unusual and an interesting play on the long-term cremation and ceremony outlook.  According to this article, Railpin recently purchased Horizon, which is described as a United Kingdom-based operator and developer of crematoria from private equity company Maven Capital Partners.

Horizon operates three crematoria in Great Britain with what is described as “a strong pipeline of greenfield development sites in underserved areas across the UK, aligning with its mission to improve the experience and accessibility of cremation services nationwide”.

According to the linked article, “The business operates a B2B model, providing cremation services to funeral directors and direct cremation specialists, ensuring flexibility and choice for communities during the most sensitive times.” 

The United Kingdom historical cremation model —  What is different with cremation in the United Kingdom as compared to the United States is that crematories have traditionally been owned and operated by municipalities and not funeral directors in the UK.  Consumers would arrange their loved one’s funeral through the funeral director but then go to the municipal crematory for a service and cremation.

In essence, the crematories are owned and operated by the municipality and consumers are charged for the crematory services by funeral directors much like “cash advances” are charged for items in the United States.

Railpin is counting on the ability to build new crematoriums through private enterprise to compete with many of the aging cremation infrastructure of municipalities.   They are also counting on the increased use of Direct Cremation to build the numbers of cremation higher and higher.

Here’s what Tim Grimstone, Investment Manager at Railpin said about the Horizon investment:

“Our investment in Horizon is directly aligned with Railpen’s purpose of securing the future for our members by delivering strong, diversified investment returns while having a positive impact on the communities in which we invest. The UK is facing a clear demographic need for new, high-quality crematoria, and Horizon’s award-winning track record and commitment to sensitive, well-designed facilities positions them to meet that demand. By backing Horizon’s growth, we are investing in critical social infrastructure that will provide sustainable income streams to support our members’ pensions.” 

Related — For an idea of a British Crematorium here is a 1-minute video tour of Pure Cremation’s original facility

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  I find this development extremely interesting to our profession.  To me, I see a private company investing in “Death Care” to build-out and take-over municipal infrastructure in Great Britain.  Quite frankly, it looks like a long-term goal of Horizon, under Railpin’s ownership, is to move ceremony and cremations in Great Britain from a municipal facility to a facility that is owned by private concerns.

And, I would also add that in most instances a private company will be able to operate a more efficient and consumer friendly business than a municipality can. If they succeed in replacing municipal crematories, Horizon will bring great value to this infrastructure and Railpin pensioners.

Quite frankly, it is very much like Pure Cremation did when building their own crematory and ceremony facility to serve the London area. . . .and, if selling for $400 million dollars 10 years later is considered successful, then Pure Cremation was very successful.

What about this happening in the United States:  The crematory system is fundamentally different in the United States than it is in Great Britain which would make this type of investment questionable in the U.S.  The U.S. already has independently owned business crematories so there is no municipality crematories to replace and operate in a more efficient manner.

However, what I think is interesting is thinking about “Death Care” not in an operational business vernacular but in an “infrastructure” vernacular.  We will always have deaths and we will always need infrastructure to care for deaths.

Thinking of parts of the business as “infrastructure” rather than “business operations” may allow much more well-heeled financing into the Death Care business.  For instance, would a real estate investment trust consider building the infrastructure out for a group of “Celebration Centers” across a region or the country to be managed by an operating company?  The “Celebration Centers” could be chosen by families for celebrations, services, lunches, visitations, and the like.

Or, would that same type of real estate investment trust be interested in building out new and modern facilities for an existing funeral home operator on a lease-back type of arrangement?  I think that is possible too.

Pension funds and endowment funds would not be so focused on the annual return as they would the long-term real estate appreciation in value over time.  And, in my book, that brings a lot more potential investors to the plate in Death Care who would look for their returns in a patient fashion.

Learning about Pensions and Endowments:  When I served on the University of Minnesota Board I learned much about pension and endowment investing.  Most people don’t even realize it, but at the U of M and many other colleges, we had an Office of Investment and Banking  (OIB) — you can get a description of the U of Minnesota’s office here. 

The OIB was tasked with operating everything from our own insurance company to the endowment fund to retirement plans.  I chaired the Debt Management portion for four years and learned much about the world of big finance.  One of the things I loved to do in that position was talk, in general terms, of the investment world with our Chief Investment Officer.  Sometimes it was just fascinating to see where our money was invested. . . . . Oh, and it was public money so from time to time we had to have the discussions about fossil fuels and ESG investing (Environmental, Social, and Governmental) options.. . . .All in all, it was a great learning experience for this small-town funeral home operator.

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

Last week I read this article authored by Kenio Fontes from Seeking Alpha concerning Death Care behometh Service Corporation International (SCI) and titled “The quiet dividend machine you probably overlooked“.  As is the custom of Funeral Director Daily I will not comment on the specifics of a stock market related article, but it brings about an issue for me in trying to define retail funeral businesses as “Growth” investments or “Income” investments.

Let’s start with my simple explanations of “Growth” vs. “Income” investments.  In a “Growth” investment, I put in $10 for a share of stock and hope that at some point in time that stock “grows” to a value of $15 or $20 (or more).  I then gain from the sale of the stock at some point in time.

With an “Income” investment I’m not so worried about the growth of the share of stock but want to collect the annual dividend that the company pays on its earnings.  Let’s say a $10 share of stock pays a 50 cent dividend — that would be equal to a 5% annual income return.  And, I always look for companies that continuously raise their dividends — let’s say that same company pays a 60 cent divident the following year.  Well, that’s equal to a 6% return on my original $10 investment.  If this continues, what you have, in essence, is something akin to a certificate of deposit that pays a “step up” dividend, or rate, each year on your initial investment.  Finally, if purchased for “income” one is not so concerned with the increased growth of the stock. . . as long as it does not lose value.

So, with that preamble, is a retail Death Care stock, such as SCI, a growth or income story — or a little of both?  And, might the investor world be changing their outlook on how one looks at an investment in SCI with the increasing number of direct cremation and other changes in Death Care?

According to Seeking Alpha, Service Corporation International stock has grown at a rate of 179% for the last ten years.  So, every $1,000 invested in SCI in 2015 is approximately worth $2,797 today.  In addition, SCI is paying a current dividend yield of 1.57% which, if that rate had been constant, would have paid a stockholder with that initial investment of $1,000 about another $157 over that ten-year time.

Today’s Value of $1,000 invested in 2015

Let’s compare that to another company located in my vicinity in another industry that is historically seen as an “income” industry with low growth —  that being the power generation industry.  If you had invested that same $1,000 in Otter Tail Power in 2015 that would have, according to Seeking Alpha, grown to about $2,895 today and with a current dividend of 2.67% collected you would have added another $267 in dividends.

So, my purpose today is not to compare these two companies, but to wonder if Death Care public companies should be looked upon more as “Income” opportunities — with dividends being raised for investors and less capital spent on the “Growth” side for acquisitions — or if the companies should continue to spend on and borrow for acquisitions fueling hoped-for growth in valuations?  I think it is an interesting question.

Tom Anderson
Funeral Director Daily

On the flip side of our comparison today, we have the utility industry which has for a long period of time been looked on as stable “Income” opportunities, now being looked on by some as “Growth” investment vehicles because of the amounts being spent on artificial intelligence and the need for more power generation for that medium.

Finally, the stodgy utility industry, at least in our comparison of Otter Tail Power and Service Corporation International shows more percentage revenue growth than the Death Care industry.  SCI, in their last full pre-pandemic year of 2019, listed revenue as $3.19 billion.  In 2024 they listed that revenue number as $4.19 billion — an increase of 31.2% over the time period.

Otter Tail Power showed revenue of $919.5 million in 2019 and  1.32 billion in 2024 — an increase of 43.6% over the same time period.  Again, it is one utility company vs. one Death Care company, but the teeter-totter of “Income vs. Growth” definitions seems to be moving.

Final Thought — The vast majority of funeral homes in North America are not owned by public stock market companies.  They are individual ownership much like I owned my firm for 33 years.  And, it is interesting because the owners of those firms much like me, don’t always realize it, but they balance “Income vs. Growth” also.

Those owners balance that equation by what amount of cash you take out of the business for yourself year after year and what amount of resources you put into growth  — which might be indicative of advertising, other marketing, staffing such as preneed personnel, physical additions, acquisitions,  and the like.

So, whether you are an investor or a funeral home owner make sure that you balance “Income vs. Growth” and your expectations with an idea of what is happening in the business environment that surrounds you.

Disclaimer — The author of this article for Funeral Director Daily is a shareholder of Service Corporation International and Otter Tail Power.

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

A couple of recent articles that I read give an indication of how the financial success of cemeteries can vary based on location and/or the clientele that may be using the cemetery.

I’m from the state of Minnesota and more specifically an area outside of the metropolitan Minneapolis/St. Paul demographic market.  My area of Minnesota was settled in the last half of the 19th Century by immigrants most generally from the Scandinavian countries of Norway, Sweden, and Finland.  These pioneers received their government allotment of land, began farming and immediately established small communities centered on the church.

Most of these churches were positioned so that they were within about 30 minutes of a horse-drawn buggy ride of the agricultural family members. That close proximity to members eventually led to hundreds, maybe thousands, of these low number of member churches dotting the countryside of Minnesota.  And, I’m guessing, that modus operandi for setting up church locations was probably followed in all rural areas as America grew westward.

Each of these churches also, because of necessity, had a cemetery that grew around that church for the next 150 years.  Today, however, especially with the advent of transportation and family farms becoming larger corporate farms the need for these country churches has waned.  My mother’s church, where my maternal grandparents are buried, closed two years ago. . . .but the cemetery is still there.  The cemetery has virtually no new graves being sold. . . but it does require some funding to be available to fund upkeep of the grounds.

Contrast that with the cemeteries which began, again because of necessity, in what have become large metropolitan areas.  They generally covered many acres and served many different churches from the metropolitan areas.  While cremation has taken its toll on grave space sales and interment fees these cemeteries have been able to continue to grow, and in many cases thrive, because of the optionality that they can offer.

By optionality, I mean mausoleums, cremation niches, crematories on site, and in many cases the availabilty of venues for services. . . . even the growing trend to host weddings.  In other words, they give these cemeteries a potential ability to raise revenue.  As a matter of fact, Service Corporation International CEO Thomas Ryan made this comment in the company’s 2nd Quarter 2024 Earnings Call, “. . we continue to see long-term strength in our premium cemetery inventory and sales production.”

Recently I’ve seen articles that focus on privately owned community area cemeteries that are trying to offer more optionality via the idea of installing their own cremation equipment. . . . equipment that would either be used as a trade service for funeral homes without their own crematory or, possibly, to enter the cremation disposition business going directly to the consumer and competing against local funeral homes.

One cemetery operator, Troy Nikola,who owns the Princeton Memorial Park and Mausoleum in Robbinsville, New Jersey, is one cemetery operator who wants to install his own crematory.  Here’s what he says according to this article from the New Jersey Monitor, “The rising cremation rate presents a serious challenge. One of my cemeteries, for example, has seen new grave sales decline by 90% from 100 grave sales per year to just 10 grave sales per year. Burial services have dropped by 50% from 120 services a year to 60. And this shift threatens the long-term financial viability of cemeteries. . . .If cemeteries are not allowed to adapt, such as by operating their own crematories within the cemeteries, they will struggle to survive.” 

Here’s another article from Decatur, Georgia, where a cemetery operator has indicated an interest in building and operating a crematory in his cemetery.  In a letter to the cemetery neighbors he makes this statement indicating that he would like more options for consumers at the cemetery, “Today, three in five Americans choose cremation, and this trend is expected to continue rising in the coming years. As a result, many of the families we serve at Washington have asked us to provide an all-in-one location where they can make cemetery, funeral, and cremation arrangements—in a place they know and trust.”

Tom Anderson
Funeral Director Daily

Funeral Director Daily take — “Owners want optionality for consumers, cemetery neighbors worry about the environment” —-  If you read both of those article you will notice that there does not seem to be any issues of the consumer public against having more choice in their options.  However, there is a great deal of concern by neighbors that crematories that operate near residential areas or schools need to provide a clean air environment in the neighborhood.  And, at least among neighbors, that continues to be a bigger issue than the ability of, in some cases, century old businesses to modernize their consumer selections.

And even while cemeteries were probably located in the area first I don’t see it getting any easier to build crematories in densely populated areas in the future.  Depending on the population size of the market area cemeteries may find their best money-making alternatives in the mausoleum and columbarium markets.

Related Article — “The Crematory Dilemma: Continued consumer choice vs. the NIMBY attitude”  – Funeral Director Daily

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

Earlier this month the United States Postal Services issued a notice that related “effective March 1, 2025, customers will be required to use USPS Priority Mail Express Cremated Remains boxes (BOX-CRE) for all cremated remains shipments. This includes remains shipped as jewelry, blown glass or other artisan works of art.”

There is no doubt that cremation, as a choice of disposition, continues to grow.  That is reflected in the number of crematories that are in the United States.  From statistics that I was able to gather it appears that the United States had 425 working crematories in 1975, 1,468 working crematories in 1999, and 3,374 active working crematories in 2021.

However, with the number of death care establishments totalling somewhere between 16,000 and 19,000 in the United States that would mean that not every extablishment has their own crematory.  i.e. there are still many “trade crematories” operating for those funeral homes that provide cremation “services” but not on their premises.

Tom Anderson
Funeral Director Daily

I operated a funeral home without a crematory for about 25 years until our funeral home built a new facility and included a crematory in the design.  Prior to that we drove our cremations about 60 miles to the nearest crematory where the deceased was cremated and the cremated remains were sent back to our funeral home via delivery service or the United States Postal Services (USPS).

As the Chief Executive and owner of the funeral home a constant worry that I always had was that the cremated remains would get lost in the transit back to the funeral home.  And, it almost happened once.  In that case it happened to be a death that occured in Florida and a trade service did the cremation for us and let us know that they had delivered the remains to the USPS to be shipped to our funeral home.  The trade service provided receipts and a tracking number.

Luckily, a service was scheduled for a month out and when we did not recieve the remains in a few days we inquired of the trade service.  To make a long story short after about two weeks of apprehension and anxiety the remains were found on a shelf in a post office between the Florida post office and the final desitination.  There was never an explanation of why the remains’ journey was stopped at this particular post office and, needless to say, we were happy they got moving again and arrived at our funeral home before the expected services.

That experience has made me very wary of the idea of sending human cremated remains through a delivery service including the USPS.  While I am not an attorney and cannot tell you of the legal ramifications I can tell you the damage a non-delivery of cremated human remains could do to your brand if a family did not receive the remains.

My suggestion is that if you are a cremation provider without an onsite crematory you need to be personally picking up these remains at your provider and hand delivering them to your funeral home and/or the families you serve.  That’s the only way that you can virtually guarantee delivery of these cherised remains to their families.

Let’s say that our funeral home still brought these deceased people to a trade crematory 60 miles away.  I would be putting an additional $75 charge on cremations to cover the cost of a driver at $20 per hour plus our gas expense to drive to the crematory and pick these remains up in person.

My guess is that $75 additional charge, even in a price sensitive market, would be a small price in comparison to a lost remains and an irate client family.

Insurance might cover potential legal losses and the costs of litigation if this ever happened to you, but the negative publicity on your brand would take a big hit if the issue hit the press.  Why risk that?

Related — “Lost ashes in Fort Myers:  USPS employee speaks out”.  Video news story and print article.  WINK News – Fort Myers (FL)

Related — “New USPS Shipping Requirement for Shipping Cremated Remains.”  Effective March 1, 2025.  From a NFDA news release.

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

Navigating the Precious Metals Market in 2025: Insights for Crematories

In 2024, the precious metals market experienced significant fluctuations that had a notable impact on industries across the board, including the death care sector. For crematories, understanding and adapting to these changes is no longer optional – it’s essential for staying competitive and maximizing profitability. With gold prices skyrocketing from $2,000 to nearly $2,800 an ounce and palladium stabilizing around $950, the dynamics of the market demand careful attention. As we move into 2025, crematories have a unique opportunity to capitalize on these trends by leveraging strategic practices and transparent partnerships.

Here’s a comprehensive guide to navigating the precious metals market in 2025, with actionable insights tailored for crematory operators.

The State of the Precious Metals Market

Precious metals like gold and palladium have long been considered a hedge against economic uncertainty. In 2024, gold prices reached unprecedented heights, fueled by global market volatility. Palladium, while not as dramatic in its fluctuations, maintained a solid position in the $1,000-$1,200 range after years of volatility. These price movements are more than just numbers; they represent an opportunity for crematories to rethink how they handle recycling and metal recovery.

I recently sat down to interview Kevin McKay, from Cremation Recycling, the leader in cremation recycling, about this topic. He emphasized that many funeral directors and crematory operators overlook the importance of monitoring these markets. “If you had five ounces of gold two years ago, it was worth $1,700 an ounce,” McKay explained. “Today, those same five ounces are worth $2,700 an ounce. Simple math shows you made $5,000 more just because of market changes.” This highlights why it’s critical to stay informed about precious metal trends and adjust practices accordingly.

The Importance of Comprehensive Reporting

One of the cornerstones of navigating the precious metals market effectively is having access to detailed and transparent reporting. For crematories, reporting isn’t just about knowing how much metal was recovered; it’s about understanding the market prices at the time of recovery and how those numbers translate to profitability.

“When crematories partner with us, they’re not just getting a recycler,” McKay noted. “They’re getting a coach and consultant who dives deep into the reporting side of things.” Accurate reporting allows crematories to:

• Track Performance Over Time: By comparing year-over-year data, operators can identify trends and make informed decisions.
• Understand Market Impact: Reports showing fluctuations in recovered metal values help operators grasp the financial implications of market shifts.
• Enhance Transparency: Clear reporting builds trust with stakeholders and demonstrates a commitment to ethical business practices.

Strategies for Crematories in 2025

As we enter 2025, crematories need a proactive approach to ensure they’re maximizing returns from precious metals. Here are some strategies to consider:

1. Stay Informed About Market Trends

Keeping an eye on gold, palladium, and other precious metal markets is crucial. Operators should:

• Subscribe to industry newsletters (like COnnectingDIrectors.com) and market reports.
• Partner with recyclers who provide regular updates and insights.
• Attend webinars or conferences focused on market trends.

By staying informed, crematories can time their recycling efforts to align with favorable market conditions.

2. Partner with Transparent Recyclers

Not all recyclers are created equal. McKay’s approach—inviting clients to “test us and compare”—underscores the importance of working with a recycler who prioritizes transparency. When choosing a partner, look for:

• Detailed Assay Reports: Ensure the recycler provides a breakdown of recovered metals and their corresponding market values.
• Proven Track Record: Work with companies that have demonstrated consistent performance and integrity.
• Educational Support: The best recyclers educate their clients, helping them make informed decisions.

3. Conduct Comprehensive Comparisons

McKay shared an example of a client who conducted a year-long comparison involving multiple recyclers. By sending two months’ worth of materials to different recyclers and analyzing the results, the client was able to identify the best partner based on recovery rates, reporting quality, and customer service.

If a year-long comparison isn’t feasible, crematories can still gain valuable insights by sending a few loads to different recyclers and evaluating their performance.

4. Optimize Internal Processes

Efficiency in collecting and processing materials is key to maximizing returns. Crematories should:

• Invest in Proper Equipment: Tools like processors can improve metal recovery rates.
• Train Staff: Ensure employees understand the importance of proper handling and collection techniques.
• Review Procedures: Regularly assess and update processes to align with best practices.

The Role of Education and Advocacy

Education has played a transformative role in the death care industry’s adoption of recycling practices. Ten years ago, McKay recalled attending his first death care meeting, where the concept of recycling was far from mainstream. Today, it’s rare to find a crematory without a recycling program in place.

This shift didn’t happen overnight. It’s the result of consistent efforts to educate operators about the financial and environmental benefits of recycling. McKay’s commitment to transparency and education—through articles, webinars, and one-on-one consultations—has helped demystify the process and empower crematories to make informed choices.

“Once people feel like they’re not totally in the dark, they have a lot more confidence in approaching anything,” McKay observed. This underscores the importance of ongoing education in 2025 and beyond.

Challenges and Opportunities in 2025

While the precious metals market presents significant opportunities, it also comes with challenges. Global economic uncertainty and the rapid pace of technological change require crematories to stay adaptable. Additionally, increased competition among recyclers means operators must be vigilant in evaluating potential partners.

However, these challenges are also opportunities. By embracing transparency, investing in education, and optimizing internal processes, crematories can position themselves as leaders in the industry. The key is to approach these efforts strategically and with a commitment to continuous improvement.

Conclusion

Navigating the precious metals market in 2025 requires a combination of knowledge, strategy, and partnership. For crematories, staying informed about market trends, prioritizing transparency, and investing in education are essential steps to maximize profitability. By adopting these practices, operators can turn market fluctuations into opportunities and set the stage for long-term success.

As McKay put it, “The more you know, the better equipped you are to make decisions that benefit your business.” With the right approach, crematories can thrive in an ever-changing market and make 2025 a year of growth and innovation.