This funeral home business plan template has 39 pages and is a MS Word file type listed under our business plan kit documents.
Sample of our funeral home business plan template:
Confidentiality Agreement The undersigned reader acknowledges that the information provided by [YOUR COMPANY NAME] in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of [YOUR COMPANY NAME]. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader may cause serious harm or damage to [YOUR COMPANY NAME]. Upon request, this document is to be immediately returned to [YOUR COMPANY NAME]. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a business plan. It does not imply an offering of securities. 1.0 Executive Summary 1 Chart: Highlights 1 1.1 Objectives 2 1.2 Mission 2 1.3 Keys to Success 2 2.0 Company Summary 3 2.1 Company Ownership 3 2.2 Company History 3 Table: Past Performance 3 Chart: Past Performance 5 3.0 Products and Services 6 4.0 Market Analysis Summary 7 4.1 Market Segmentation 7 Table: Market Analysis 8 Chart: Market Analysis (Pie) 8 4.2 Target Market Segment Strategy 8 4.3 Service Business Analysis 9 4.3.1 Competition and Buying Patterns 9 5.0 Strategy and Implementation Summary 10 5.1 SWOT Analysis 10 5.1.1 Strengths 10 5.1.2 Weaknesses 10 5.1.3 Opportunities 10 5.1.4 Threats 10 5.2 Competitive Edge 10 5.3 Marketing Strategy 11 5.4 Sales Strategy 12 5.4.1 Sales Forecast 12 Table: Sales Forecast 12 Chart: Sales Monthly 13 Chart: Sales by Year 13 5.5 Milestones 14 Table: Milestones 14 Chart: Milestones 14 6.0 Management Summary 15 6.1 Personnel Plan 15 Table: Personnel 15 7.0 Financial Plan 16 7.1 Important Assumptions 16 7.2 Break-even Analysis 16 Table: Break-even Analysis 16 Chart: Break-even Analysis 17 7.3 Projected Profit and Loss 18 Table: Profit and Loss 18 Chart: Profit Monthly 20 Chart: Profit Yearly 20 Chart: Gross Margin Monthly 21 Chart: Gross Margin Yearly 21 7.4 Projected Cash Flow 22 Table: Cash Flow 22 Chart: Cash 23 7.5 Projected Balance Sheet 24 Table: Balance Sheet 24 7.6 Business Ratios 25 Table: Ratios 25 Table: Sales Forecast 1 Table: Personnel 2 Table: Profit and Loss 3 Table: Cash Flow 5 Table: Balance Sheet 7 1.0 Executive Summary [YOUR COMPANY NAME], located in [YOUR CITY], [YOUR STATE/PROVINCE], provides the community and surrounding areas personalized and professional funeral services. The primary concern of [YOUR COMPANY NAME] is to assure the families the dignified service their loved ones deserve at the lowest possible price. [YOUR COMPANY NAME] is the succession of a family business that began in 1917. The owners, [NAME], take pride in their business and continue look for ways to enhance the services they provide to their customers. The company seeks to improve its funeral home, add an additional funeral vehicle, increase marketing, and reduce debt. Additionally, [YOUR COMPANY NAME] is focused on reducing prices while at the same time upgrading the services provided. Therefore, grant funding in the amount of $410,000 is being sought by [YOUR COMPANY NAME] to achieve its goals and continue to provide a superior service for its customers. Chart: Highlights Objectives Decrease existing debt by at least 20% over the next three years Begin building maintenance and expand parking area by the end of 2010 and complete by end of 2011 Increase sales revenue by 5% each year or the next three years while stabilizing operating costs Increase market share by 10% over the next three years by implementing an aggressive marketing and pricing strategy 1.2 Mission [YOUR COMPANY NAME] mission is to assure its families the dignified funeral service their loved ones deserve at the lowest possible price. Keys to Success The keys to success of [YOUR COMPANY NAME] are: Implementing knowledge passed down from three generations of ancestors in the funeral home business Providing clients with a dignified service their loved ones deserve Implementing an aggressive marketing strategy that increases market share in surrounding regions Providing high-quality service at the lowest possible price 2.0 Company Summary [YOUR COMPANY NAME] is located in [YOUR CITY], [YOUR STATE/PROVINCE] and provides it services to [AREA]. The [YOUR COMPANY NAME] name has been in the funeral home business since 1917 and is recognized throughout the community and surrounding areas. 2.1 Company Ownership [YOUR COMPANY NAME] is a privately held S corporation owned equally by [NAME]. 2.2 Company History [YOUR COMPANY NAME] was established in 1998. The owners, [NAME], collectively have over 63 years of experience in the business. They implemented their experience along with the knowledge provided from their ancestors to start their own funeral home that carries on the family name. Table: Past Performance Past Performance 2007 2008 2009 Sales $663,015 $812,038 $696,764 Gross Margin $544,619 $649,689 $561,158 Gross Margin % 82.14% 80.01% 80.54% Operating Expenses $537,555 $594,525 $582,639 Collection Period (days) 17 14 16 Balance Sheet 2007 2008 2009 Current Assets Cash $23,555 $88,328 $43,798 Accounts Receivable $30,474 $29,874 $29,274 Other Current Assets $13,177 $13,894 $32,291 Total Current Assets $67,206 $132,096 $105,363 Long-term Assets Long-term Assets $1,082,212 $1,063,968 $1,064,884 Accumulated Depreciation $96,949 $147,945 $161,814 Total Long-term Assets $985,263 $916,023 $903,070 Total Assets $1,052,469 $1,048,119 $1,008,433 Current Liabilities Accounts Payable $8311 $16081 $37,149 Current Borrowing Other Current Liabilities (interest free) $141,847 $24,108 $24,775 Total Current Liabilities $150,158 $40,189 $61,924 Long-term Liabilities $961,219 $1,012,315 $1,005,441 Total Liabilities $1,111,377 $1,052,504 $1,067,365 Paid-in Capital $10,000 $10,000 ($16,023) Retained Earnings ($70,515) ($68,944) ($14,383) Earnings $1,607 $54,559 ($28,526) Total Capital ($58,908) ($4,385) ($58,932) Total Capital and Liabilities $1,052,469 $1,048,119 $1,008,433 Other Inputs Payment Days 30 30 30 Sales on Credit $663,015 $812,038 $695,764 Receivables Turnover 21.76 27.18 23.77 Chart: Past Performance 3.0 Products and Services [YOUR COMPANY NAME] provides burial and funeral services for the deceased and their families. The company arranges services in accordance with the wishes of families and the deceased. [YOUR COMPANY NAME] also takes care of all of the necessary paperwork, permits, and other details, such as making arrangements with the cemetery. 4.0 Market Analysis Summary The market for clients includes [AREA] and [RAREA]. These are the selected targets due to their proximity to [YOUR COMPANY NAME]. [YOUR COMPANY NAME] has the majority of its clients come from [AREA] . The company estimates that roughly 93% of its clients are from [AREA]. The company's primary focus is to maintain its control of market share in [AREA] and prevent outside competition or the possibility of an emerging competitor that establishes itself in [AREA] from gaining market share. [AREAS] present the remaining 7% of the company's market share. These areas present the largest markets for [YOUR COMPANY NAME] to increase its market share. The company's marketing strategic plan is focusing on increasing marketing to this region. [YOUR COMPANY NAME] is not the closest funeral home in these areas and must use aggressive marketing practices to increase and establish a steady client base from these areas. 4.1 Market Segmentation The Market Analysis (Pie) chart breaks down the potential clients in Evans, Tattnall, Bryan, and Bullock Areas. The [AREA] portion displays 110 potential clients
