Interview with Josh Rae from Golden Considerations
In this short clip, Josh responds to the idea about whether or not the future of every funeral home is truly dependent on pre-need funeral services and pre-need funeral sales…
full transcript:
Well, maybe every is a bit strong. I don’t know that that’s true for every funeral home, but I would say it’s true for basically every funeral home that has competition . So if you’re one of the funeral homes that’s lucky enough to be in some rural area and have a hundred percent of the market share and nobody’s advertising in your area, maybe this isn’t true of you, but for the rest of us who face competition, I think there’s a lot of truth to this. And it’s because of the fact, at least historically, people who have pre-need policies with a specific funeral home tend to use that funeral home on an at need basis. Families are allowed to switch, but they rarely do so by building a robust preneed program, essentially you’re building your at need pipeline. And if you’re not doing it, your competition is, And so the families that you thought in a specific area were yours, Well, you know, you’re not aggressively pursuing preneed. Your competition is and and basically pulling that business right out from under you, and you won’t know it for an average of eight years. You know, that’s how long a preneed contract tends to be around. So competition could be building their at need pipeline quietly without you even knowing. It’s not like you’re seeing the call volume drop off today. It’s gonna be dropping off years down the line. And that’s where I think that initial comment is coming from and why it’s true for so many funeral home operator.