Why Funeral Homes Are Vanishing Across America
The funeral industry in the United States is worth $20 billion dollars annually with 2.4 million funerals taking place every year. With death and taxation being the two certainties in life, funeral homes have a long-standing reputation for highly resilient and stable businesses.
Everyone dies. If there’s any business that should stand the test of time, it would be funeral homes and cemeteries. But when we look at the numbers, the surprising reality is that it’s not actually true. For 2 decades, average funeral home revenue has been declining every year. The number of funeral homes has been shrinking every year with more and more closing their doors.
Today, the American funeral industry is significantly fragmented, seemingly unscathed by the M&A of corporate America. There are roughly 18,800 funeral homes in the United States. There are about 1,000 crematoriums and 115,000 cemeteries. Service Corporation International is the largest public funeral home corporation today, operating 1,471 funeral homes and 488 cemeteries across 44 states. The company has 16% market share by revenue and 11% market share by the number of funeral homes under its ownership.
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🎧 Audio Editing & Mixing: Sonalf
0:00 The Timeless Business of Death
4:52 Two Decades of Decline
6:16 Ashes to Ashes
12:58 Funeral Homes vs. Cemeteries
17:02 Billion Dollar War Chest
19:24 Dust to Dust
0:00 The Timeless Business of Death 4:52 Two Decades of Decline 6:16 Ashes to Ashes 9:16 Fragmentation + Consolidation 12:58 Funeral Homes vs. Cemeteries 15:52 Impact of Cremation 17:02 Billion Dollar War Chest 19:24 Dust to Dust
I was quite surprised to see my dad, two of our staff members and myself appearing in this video! We’re based in the UK 😬
Agreed with @Brody Pearlman, this is a great channel and seriously underrated. i think the problem is the length of each video - over 30 mins is way too long for most youtube viewers. Cant remember where i read this: 20 mins is the mix attention time for an adult to focus on one idea. That's why TED and most of the very successful documentary type youtube channels keep their video less than 20 mins.
@@molliestoneman3357 I could tell by the coffins
@@asterlee7115 I too read an artice about delivering a speech. If you go beyond the "20 minute" speech, you will have lost the attention of your audience and your message will dissapate.
PS. We don't even buy urns. The place that does the cremation will divide up the remains into small black velvet bags (thick plastic bag inside) to anyone who would like to have them, for free.
I helped my grandmother pre-pay and arrange her funeral. She wanted a simple, inexpensive service with no embalming, no viewing, just a simple graveside service. It still cost about $6500. For my grandfather, funeral director was just a salesman. He actually tried to guilt us into buying all more expensive casket with the line “Don’t you think it’s what he would have wanted?” My mom, uncle and me all looked at each other for a min and started laughing. If my cheapskate grandpa had been there he would have been cussing the guy out.
That's just awful. I'm a 5th generation funeral director. I've often steered people away from overspending. As in most things, we only ever really hear about the tragic happenings. Not all funeral directors are like the man/woman that tries to upsell. I think the best option is hybrid. RENT a casket and have a service and visitation/party etc.. then cremate. Will be WAY less expensive and save land space as well.
@Cosmic Insane See my comment above regarding my employment with SCI
$6,500, is that all? Most people I know have paid $8,000 on the cheap end of things but easily $10,000 or more. I get the coercive sales tactics but I'd be happy to pay $6,500 for my own funeral, or that of a loved one.
@@texan903 Yeah this was probably about 2002 or so. I can’t imagine paying that much. I want to be cremated as cheaply as possible, and my family can have a nice BBQ at my house with a keg of beer maybe.
It's to expensive, how can poor people afford this. Something needs to be done. 6,500 is low it depends in what area you live in. I know most places will charge over $ 10,000
I remember when my brother died we went to the funeral home that had his body and as we were going over cremation and urn options, I was surprised how many different urn and coffin choices and the mortician almost seemed more like a car salesman. It made my family a bit uncomfortable.
I;m not sure that person was a mortician, probably a "Funeral Director" who might be a mortician...but anyway, how did it turn out for you? it's a very vulnerable time , the crooked one's can rake in thousands more just by taking advantage of grieving people....
@@alpha-omega2362 ah yes now that I remember, it was the funeral director.
Yes, it’s a fine line between a thoughtful, respectful, and caring provision of such services. I think, to be honest, if I got the impression that I was dealing with a “car salesman” type character I’d be inclined to look elsewhere. At such an emotional time it is very, very wrong for someone to ‘play on the heartstrings’ of relatives who are grieving. I hope you were able to finalise things in a fitting and dignified way.
@@edwardoleyba3075 it was a difficult situation since they got the body from the coroner and we had to travel cross country
@@SplashtheOtter . Sorry to hear that. 😞
When my mom passed away we found the same guy who did my dad 30 years earlier. He still has his business name but it was just part of a big conglomerate now. Anyway he was an old timer and when we were thrashing over caskets he said: "Listen, mom wouldn't care if you put her in the cheap wooden box these caskets come in. These fancy caskets aren't for the dead, they are for the living. Just pick something, it will be fine no matter what"
That was really nice of that funeral director to say that. For most people, that would likely be what they'd like---a simple casket of some sort. For others who prefer something fancier, they certainly have plenty of gorgeously finished beautiful wooden or metal caskets to choose from. It would be so much better (and more ethical), though, *if families were left to choose fancier caskets on their own,* rather than those pressured into it when they can't afford it.
When my grandpa's dad died, my great grandfather, the funeral home wanted $5,000 for a casket. Grandpa said no way. He called around the area to see who had them available for less. Once he found an $800 one, he and his sister, my great aunt, got in his truck and went to pick it up. The seller put it in the bed of his truck and they transported it to the other funeral home that had his dad's body, and that's what he was laid to rest in.
@@texan903 So smart - I bet the other funeral director was irritated - but your grandpa sure didn’t care one bit.🤷🏽♂
@@texan903 Many burial places will not allow you to shop around and use any container. They will only allow you to bury on their land from one of the choices of containers they offer.
@@peacefulpear8 this is true, particularly for burial at a memorial garden or a franchise memorial park. Such regulations don't exist for many rural cemeteries.
We had little money when my brother passed. His kids went with cremation, and the business we used was a no-frills crematorium. The owner was a great guy. The cost was about as low as you can get away with... Just shy of $1000. We held no formal funeral, but had a family reunion where he was honored. His band buddies played his favorite things. He was a Neil Young fan.
Sorry for your loss, but am glad you guys found a reasonable solution. By the way, i love your cat!
Thats the way to go ,,, sweet and cheap ,
That sounds like what I would want for my own funeral: a simple cremation and a wooden urn, and a good day for those who now must live without me.
@@tonyprice2256 The tomcat's name is Raymond. He's pretty big! Meows a lot!
@@utah133 No doubt he is big. Most ginger cats i have seen have been big cats. May Raymond enjoy a long healthy life!
My father was a mortician. Everyone loved him. I remember being picked up from school in a hearse or a limo lol. I’ve seen babies, brides, teens etc in caskets… played in show rooms or walking by the morgue and seeing an opened chest cavity coming from the medical examiner.he also played the organ so after waiting around for him to finish a body he would play before we left…. I miss him so much!!!! So many grave site stories lol he was the real mvp
Wow! What fond memories💜
👍😘
You’re basically Vada Sultenfuss!!! IYKYK 😂
A bride in a casket? Why? Seeing a baby or a teen in a casket would've gutted me. 💔
you put a very positive spin on people purchasing their own funerals and highlight some of the positives for the business. A glaring negative, and why me and my family go this route is because the home can't pray on a grieving family. It's harder to upsell a living person on why a 60 sec limo ride from the funeral home to the grave, or a fancy gravestone is needed. Most of us want that money to go to the living, not decking out our grave.
Maybe, if youre a heathen money loving American. But for people with culture and respect of tradition, we value honoring over grubbing money. This idea of a McDonalds Drive Thru experience when memorializing someone seems so disrespectful to me.
@@PepeNuclear Many of the things they upsell you on have nothing to do with tradition and are simply pricy extravagance designed to manipulate the bereaved.
@@PepeNuclear That depends. Would you rather your children have 7000+ to spend on covering your loss after passing or having your dead body receive a flashy casket which will be under the ground. I know I can be honoured and remembered by my family through the memories we made and not a morbid limo ride when i’m gone
@@alilalani9531 exactly, the person who died probably wants what’s best for their children and family who’s still living then for them to spend so much money on them even when they’re died.
@@alilalani9531 well, it all depends on how much spare cash you got. to some, spending $20000 on a dead family member would be a great burden, when that money can be spent on education or other necessities. Where as for others, $20000 is no big deal, and doesn't put any dent in their total wealth.
We cremated and buried my grandfather in a ceramic cookie jar. He loved deserts and a good bargain so this honored his love of sweets and saved money. I think he would have gotten a chuckle out of that.
In what state was this?
@@alvaromunoz5410 FL
Price gouging still goes on. It’s shameless! For a $1,700 casket and three hour visitation, the cost for my moms funeral cost me $14,000 in 2009. Outrageous!
Wow that's bad, that means bankruptcy for most families these days. No wonder the industry has a bad reputation
I just had to make all the final plans and pay out of pocket for a relative who passed just away. They had no insurance or plans. I can’t tell you how stressful it is to have to make those plans for someone else, let alone have to pay for it. My husband and I are middle aged but we went ahead and planned our our funeral arrangements right down to eulogies and obituaries. Our kids won’t have to be burdened with these decisions as they have already been made and paid for.
My husband and I have done the same. We don’t want them to second guess what they should do.
Very fortunate.
I promise thats the best thing you can do for your kids
I just finished doing the same so my sons aren’t placed in the position to deal with it afterwards. My mother preplanned her arrangements and as her executor, it was the greatest gift she gave me in death.
You had no contract with the funeral home,why were you forced to pay?
The main reason funeral homes will continue to decline is the fact that it is that people just can't afford to spend that money anymore on funerals. They just don't have it. The baby boomer generation is the last generation that has the retirement funds to spend on the expenses of a complex funeral. I myself have written in my will requesting to be cremated. I want no formal funeral ceremony, flowers, or anything complicated. I just want a few friends to come by and say their farewell if my wife survives me. If not, I have asked my son to take my ashes and scatter me somewhere near nature. When my father died I saw the type of scams the funeral directors pushed on my mother - high-priced casket, memorial flag (he was in the military), mausoleum cost, etc. They milked my mother for all they could get - so I don't have a whole lot of sympathy for this "vanishing" industry. They take advantage of people who are feeling grief and don't want to be seen as selecting the cheap option for the person they loved. So many times relatives choose the over-priced option because they want to show "respect".
Also, many funeral homes can't afford the overhead, can't find help and decide to sell out to corporations.
Many years ago in my college days, I worked a part-time summer job as an usher in a funeral home. When the summer was over I went back to school. The lessson I learned was, funerals are for the living.
Death as the basis for an industry is sick and unsustainable. Families used to hold funerals in their living rooms , also known as the "parlor" . Hence the term "funeral parlor".
I think funeral homes take advantage of the families. We had to pay for my mother in laws and the way they try to guilt you into things not needed.
Not True my mother in law just passed and the funeral home i used did not do what your saying they were very helpful and did everything that was needed to be done in a very professional manner ... if you go to a funeral home and they try selling you CRAP you might want to look somewhere else
@@rogerstlaurent8704How do you know is not true?…it went well with your pick, but not with their’s.
@@rogerstlaurent8704 very glad yours went well
Some states have legalized green burials, which is simply burying a body in the ground in a biodegradable shroud. This is probably the way dead human bodies have been taken care of for most of human history. Some states have also legalized human composting. These options give more bio friendly options and much lower costs. It's helpful to have more choices in death care.
I wish my state had human composting. But we do have green burial. Thankful for that, but I'm worried the transportation cost will be too high, because it's many miles from where I live.
@@merrymata2547 As long as you don't have to cross state lines it shouldn't be too bad.
That’s my option!
Did not know this. Would like to look it up. 😊. I want to be a tree, a diamond, or ashes to be put in a lake but preferably a tree when I pass. No casket. No burial. Seems wasteful.
@@JenzJoe it’s more natural. We carry so many minerals in our bodies. It’s more beautiful to know your loved one is a part of a tree you can touch/feel.
I buried three of my family members over time. I found that the funeral homes had only one important task. They wanted to take as much money from me as they could while I was grieving!
Get over yourself! The funeral home specifically just sat around waiting to take your money because they have nothing better to do. This happened three times? Why didn't you seek out a cremation society or something? I suggest you pre-plan your wishes and tell your loved ones to do the same.
@Kit and Sons Get over myself? When I answer a question or make a statement it is about what can happen to others. You talked about cremation. That was what my parents wanted. The government said NO! This happened twice but the third time I beat their regulations!
Ever since I was a kid, I found it bizarre that people gather in a room with a dead body. Why anyone would want the last memory of them that of being dead in a casket is morbid.
Cost and creepiness are two factors why I’ve told my family to cremate me. We all have life insurance so “money isn’t a factor”, it just seems wasteful. That money can be used for my children’s education, a vacation, pay bills, whatever. Ive requested a memorial party at our friends favorite bar/restaurant, slide show to be played, music list, and my bits of my ashes spread in a couple special spots. Simple.
Heirs' vacas? Uhm, they can acquire funds the same way i did : work, live frugal and save (for rainy days, and finally, a proper burial). They can vaca on their own dern dime.
@@suebotchie4167 Lol. The thought of the heirs going on vacation rather than having even a modest funeral for the one who left them w/ an inheritance is just...ugh. Most cultures would cringe over the very thought of it.
@@kristinab1078 makes me cringe, here in the usa.
@@kristinab1078 they are not alone because I would prefer my family take a vacation over pay for my funeral. Life is for the living.
@@leam89 I suppose it's an individual choice, but it's also a very western mentality. In Asia very few would ever consider taking a pleasurable vacation with money that might have been used to honor family members who have passed.
A seriously underrated channel. I took Cornell summer business classes in marketing and operations last year online and the quality of explaining concepts and company operations matches if not surpasses this. No way this dude doesnt have 100K subs by the end of the year if not sooner.
So his videos are better than Cornell's classes? Your message seems a bit unclear.
@@k3iler05 For what I paid for those Cornell Summer classes, you could easily learn through these videos instead for free (I took these classes during 2021, so the classes were virtual and made it much harder to like for the price). The only difference is that those classes counted for college credit.
@@brodypearlman6034 makes sense. I did not go to college but I've been an avid youtube watcher haha. I drive a truck so it allows me to listen to podcasts/videos about all kinds of random things. I realized I never liked school, but I did love learning (Which I didn't do in school).
@@k3iler05 maybe you have adhd. Made it hard for me in school. But I always excelled at subjects that interested me. Got diagnosed with adhd at 23 and things made a lot more sense as far as why I do the things I do. Adderall has helped me a lot.
@@John-iu9kl I probably do. I just did not see myself going to college though.
in 2009, my husband and I arranged our cremations/services and plans. Paying $800 each, our arrangements were finalized and paid within 3 years. He passed away in 2021...and while we paid $800, his cremation - no service, no urn, no obituary, no other need for the provider, the bill came to near $1,300. Certainly, we did well. I have no idea what my cremation will cost, but it's paid for, insured, and done. There's a bit of peace of mind in that...and the simple arrangements for our children/grands. We gathered 3 times at houses...and honestly were comfortable talking about/remembering him with each other. No public gatherings were needed, we felt, as we're quite private people.
My fathers cost 500 in 1994 , mother cost 750 in 2018 24 yrs later , don't worry about the price
When my boyfriend died several hiking clubs, he was a hike leader, had a beautiful memorial service for him. Over 50 ppl attended, we all
recited the Mourners prayer.
Good plan. But the funeral home could still gouge your family by charging for “extras.” They charged us $400.00 for “coffee service” - a pot of coffee set up in a little room down the hall during an evening’s visitation. I doubt 10 folks actually got any coffee.
I was in the funeral business for 2 years when i was young. I can't stand wakes. Im 64 maybe its time to make that pre-arrangement for a Direct Cremation. See i even remember the terminology.
R.I.P. Ronald Lawrence LaPrice. Mr LaPrice wrote a song that has been played at everything from children's birthday parties, to wedding receptions all over the world. The song was "The Hokey Pokey". After his death, morticians at the funeral home had a very difficult time getting his body into the casket. They'd put his left foot in, he'd put his left foot out.......
heard that one long ago. - good one though
As a ten year old standing in front of my moms coffin looking at her and watching everyone else walk up and look I thought to myself how strange. I am 64 years old now and I still think it is a strange practice.
More people should look into green burials
@@alejandroc7357 👍
I was 10 also at my moms casket. I'm 38 and after having my father burial service. Its a celebration of life. Everyone seemed at ease with a closed casket... it's bit strange to me, I feel like an open casket is too much
I remember, only my 2nd funeral being my beloved grandfather, who died very suddenly 4 days before Xmas in 1983. I just turned 14, just saw him in Brooklyn days prior, during our annual Xmas trip to NYC from an hour plus north upstate. I had to deal with seeing him that way in an open casket. I was the oldest grandchild and I was absolutely devastated as he was my best friend and favorite relative In my miserable young life. I'm not sure 40 yrs later if I could have accepted him being truly gone back then if I didn't get to say goodbye, with a viewing. I dreaded it the entire ride but it did give me the closure I needed and to see his face 1 last time. It's a strange thing if you really stop and think of it but I think it's a good thing we do.
I don't find an open casket strange. It is good for the process of grieving to physically see the person as you pay your respects. There is nothing macabre or morbid about seeing a dead person, especially with the expertise of a good funeral director. Of course the person will look different than when alive. I think that, as a society, we have gone to a place where we don't want to be reminded that the person is dead or what death looks like. Yes, we'd rather remember the person when he/she was alive, but I'll always believe that physically paying respects to the dead is a good part of grieving.
From 2006 to 2021 I worked for SCI as part of the care team. This department dealt directly with removals preparation, work, dressing, cosmetics and casketing. The first eight years I enjoyed it. But in the second quarter of 2014 is when things began to change. My department brought in extremely young and very flippant and unlicensed personnel. It was like a babysitting job from hell. Management would not back me up when they did wrong. Because they were paid less management seem to value them more and provide them with more clout. Also, in that time. We went from serving five locations to a grand total of 12 all in one care center designed to serve only one location. The things I’ve seen in those last seven years created in me a resolve to avoid using an SCI establishment. I actively discourage other people to do the same.
Hello, I wondered about this- when SCI made that change. Our company was owned by SCI for a few years before I started working there--those contracts are a mess. Dealing with other homes that are SCI now, it's like they go out of their way to be awful. I just don't get it.
What religion is the management
Many ppl don't realize that S.C.I. has bought out many long standing family owned funeral establishments until it's too late. I did my research and prepaid ,/ planned my cremation with a long stand
standing Family Owned business!!
Yep. I just quit my job at SCI today. Total shit show.
Been in funeral business long time. Death is often sudden. Morticians are on call day and night no matter the weather and all holidays. It takes "genuine" compassion to carry out the tasks of being a successful funeral director. It cannot be faked. Not all deaths are of an old or sick person that is soon to die. Many deaths are extremely tragic and sudden. Baby's die in cribs or are shaken to death, young and middle aged people commit suicide by hangings, self shootings or asphyxiations, toddlers die of ingesting poisonous items or fall from high places to their death, there are people that die in mass fires and vehicle collisions and are not recognizable or are dismembered, young soldiers suffer fatal disfigurement and are returned from wars. These are horrific tragedies that leave families and loved ones devastated and in vapid shock. It takes 100% honest care and heartfelt empathy of funeral directors to assist families and all those that loved a person that is "suddenly" gone. It cannot be faked. Funeral directors usher grieving people "through" the process of creating order out of shock and the confusion of grief and "present" them with the many varios options they may choose fitting and affordable for who they loved and lost. "Their" wishes/desires and what they want to spend is the desired result of what will please them in honoring their lost loved person. A funeral service that does not adhere to these principles does not provide sincere care and doesn't last long. They are the ones that thankfully and eventually get called out, lose their licensing and are closed.
From the moment you are brought into this world to when you leave it you are ONE THING....A CONSUMER!
I'm 61 and have long been fascinated by the funeral business. In my lifetime, I've seen flowers at the funeral home go from spilling out into the hall to a handful of arrangements, with emphasis instead on donations in memory of. Far less funerals involve a trip to a church, which reduces cost. My mom is prepaying for hers which will be embalming, visitation, coffin, service at funeral home, while my wife and I are prepaying for a cremation with a service off premises, actually a picnic in the park if weather and season permits. Also, families are smaller, so less need for big rooms for visitation and service. With decreased burials, cemeteries are becoming financially unsustainable. I respect the work of morticians and would be one if I could go back in time, but I can't see spending half a years pay or so on a funeral
Me neither David. Cremation for me with no funeral service whatsoever.
Cremation is cheaper. Graveyards are a waste of land.
@@denisek292 I am terrified of being buried and worms and other bugs eating my decaying body. Plus when there is snow on the ground it would be so cold.
Yes, I agree. I'm leaving my body to the anatomy board
@@JohnDavis-yz9nq But you are not worried or afraid of the crematorium fires burning you?! I would rather get eaten by worms and bugs and be cold than face the harsh hot fires of a crematorium. Just saying.
I'm now 65 and have been to the funeral home serval times to help make arrangements for dad brother sister aunt and uncle's it's always like they have you at a very vulnerable time and they take advantage these people are lower than the lowest car salesman
Briefly worked at a funeral home. 3-5x markup is WAY under what I saw on caskets. The basic ones were 20x
We mark caskets up @ 2.5 - 3%
@Panda Angry Good one
@@ryan92335 everyone gets all pissey because you make a profit on selling a casket well car dealers rip you off autoparts are the same way everyone love their phone and pay Huge amounts of money and the seller buys them for penneys on the dollar and sells them for a nice juicy PROFIT dont you just love the uneducated snowflake rambling away that has no clue what he is saying
Depends on what 'briefly' means in this context. I week, 3 mths?
The FTC and consumer affairs (if you worked within the US) would never allow that MAYBE 3x. And it all depends on thr demographics.
Went to federal once where a was a body shown in a casket and it freaked me out. All other funerals I've ever attended were ash ones and some them had more memorable requests tied to their death-wish... my family flew to Seattle to part our Grandma's and Aunt ashes into the waters of the Puget Sound. Had to do our research but we were able to work with the Seattle laws and make it happen. It felt like an adventure going there and I always thought I'd forget a funeral experience but it was pretty neat throwing biodegradable tiny bags of ashes into the waters. We blasted our smartphones with songs they liked too, it was different but I think funerals are ultimately for the living and I won't ever forget where they both were buried.
You’re absolutely right…funerals are for the living. Open caskets are creepy! They’re dead…that’s not how I want to remember my loved-one.
Federal what? Federal court? Federal building? 😂
I think it has mostly to do with you being a secular person from a secular family. Funerals have a function in religion.
That was painful to read...
@@coimbralaw I thought federal building 😅.
I never liked the fact that funeral homes made profits off of peoples death and misery. Some families have to scrimp and scrap to put these funerals together. Society almost guilts people into having the “traditional funeral” when cremation would be the better more financially way to go.
It's not a nonprofit business, and they have to make some profit to exist and cover their own salaries. I view it as a necessary service in society as any other. There are many services that "profit off people's death and misery." I assume most don't view it that way though.
My husbands sister committed suicide. His mom was so distraught, they tried to sell her the most expensive casket. My husband and his brother had to direct her to another nice casket for way less. They do know you are distressed and sometimes take advantage of that. We are pre planning ours so there is no issue with our kids.
Cremation isn't for everyone.
Just making a point, not disparaging your grief, but a Hearse isn't cheap & nobody wants to be hauled to the cemetery in a economy station wagon. Yeah, I want my last ride on a hay wagon, but that's me
TY for saying that its a Business
Gee, ya think. They’ve priced themselves out of business. People are probably going for cheaper options. Weddings and funerals are both emotionally based , price gouging industries.
The decline, despite higher numbers of death (due to population), is also likely related with the drop in religious observance. Funerals are usually based around religious views and traditions as it still is in many places in the world. In the US, dealing with death is becoming an inconvenience and quickly being wiped aside by cremation and no type of ceremony. There isn't much of a socially acceptable way to go through the grieving process like many societies. In the past, widows wore black for a year for a reason. It made others aware of what they were experiencing and allowed them some latitude in their behavior and lack of social interaction.
Buying a home or an auto too........
My mother prepaid her funerall yet we had to fork over another $1100.00 to get her into the ground. We did not have a chapel service , only a graveside. They do prey on your grief. Cremation is definetely the way to go because you can take your time to get things done.
No, your mother only prepaid for the service and left the graveyard fee to her kids. You didn’t get preyed on.
@@apersonontheinternet8006 wrong
I know the owner of our local funeral home. He’s a good man who was very flexible with us and considerate while taking care of the final affairs for my dad and brother.
Live local, buy local, die local. Stick with Family operations!
This channel is better than Dorsia on a Friday night. Seriously, keep cranking out the content. Your videos are some of my favorites to watch while building decks in my pajamas
I watched all of your other videos and was hoping for more. Cant wait to watch this one! Love your work, keep it up!!
Interesting my Mom died last year at a cemetery (Rose Hills) owned by Service Corporation International and heard that her plot she purchased along time ago has increased in prices by a lot (more than regular housing). Guess like housing it depends on the area. My stepfather also prepaid this year for his headstone and services for future use. Sorry to sound crass but I thought it was a good idea with how fast inflation is rising.
You westerners are seriously weird and I hate to say it but morally bankrupt seems to be the term I feel most easily describes y'all....
Imagine that, dying in a cemetery. How convenient.
A $1,000 plot purchased in 1972 costs $18,000 in 2023.
Rose hills in Whittier?
@@closer71 Yeah but are there people really buying plots sixty years before their death?
Cremation doesn't create ashes, it creates bones. We don't find ashes that are millions of years old we find bones. The bones are put into a large blender and turned into a fine dust.
Look at the bones! - Tim The Enchanter
Hollywood has done a disservice by representing cremated remains as ashes.
Yes, this is also probably the same reason why cremation furnaces are often referred to as retorts in that industry. Because the modern cremation process, is basically of taking a deceased human or animal, and condensing them down to a smaller item which is bone, using very high heats, while leaving little to no product charring left behind in the chamber. Tissue and organs are vaporized away when they burn in this case.
…’meta space cemetery prices’..phrases about such a concept’s possibility both morbidly fascinates me and tightens my gut as far as ‘what it meant to arrive at that point’..as far as this specific video goes the highlighting of a ‘micro-allocation of land’ actually being an element of real estate is appreciated
For two weeks, I tried to sell the pre-need funeral plans, plots & service. I just couldn't do it, it was all such a scam. In my family, all of he grandparents, aunts & uncles of both big families died - 18 deaths within my first 20 years. But my generation was DONE with the whole funeral scam. All of our generation now simply prepays our OWN cremations and gives that document packet to someone in the family that we're close to. Upon death, we invite the coworkers, family and friends over to honor the deceased one, and everyone brings a potluck. We will often do it at the lake. So much more comfortable for everyone in very casual dress, jeans, etc.. And we are Catholics. There should be no expenses for a loved one's death. There does not need to be a dog and pony show.
The content of these videos goes a little more in-depth than so many other alternatives. That's super valuable, thanks!
the same thing is happening to funeral homes that happened to bakery's shoe makers, family owned restaurants, small family owned grocery stores, hair salons etc
10k to bury someone is insane, makes no sense at all. The requirements to imbalm and for concrete vaults. Amish make wooden coffins and No valt or imbalming. Not having to pay out 10k makes good sense.
I've never understood people's morbid obsession with how we treat the dead. My family has always and still struggles to make ends meet every month. That's just the way it is. The very last thing I would ever want is for my surviving family members to spend any $$ at all on what I consider to be just a dead body. I've already paid for cremation and I've requested they simply sprinkle my ashes in the garden. I have friends who have paid enormous amounts for lavish funerals and others who keep dead loved one's ashes on a mantle or shelf in the house. In my mind it's a creepy human habit.
It's our species' narcissistic belief that we'll still matter in the grand scheme of human history, let alone the universe.
my father passed away, had funeral plots in 2 states. Found out they were resold. Not insurable after a certain age although paid in full. Cremated as a pauper or pay a ransom price. Predatory business practices
Funeral homes are not affiliated with cemeteries. They are two different entities. However, i am surprised you didn't get a deed with the cemetery plot. That is very unusual. It is illegal to mess with the deeds.
I’ve been ripped off by a funeral home….”don’t you want your dear mother in the best casket we have ?” Yeah…..sucker. Be careful folks❤️
These videos really are very information-dense and informative, I love it! Keep up the good work!
The standard of living is declining in America so there are fewer people who can afford private funerals. There's always the county coroner's office that must dispose of dead bodies.
Hi modern MBA you are very underrated hope to see you rise and grind into the future, not many good creators left on here
What a splendid channel! Have been watching your channel since your first video!! Fully expect your channel to grow like crazy.. please keep up the great work. If you had to list out your favourite sources to learn about analysing business strategy, what would they be?
Ha ha reminds me of when I used to watch the show 6 Feet Under. The family in that show went through declining sales, family disinterest in carrying on the business, loss to cremation and an agressive (and shady) buy out attempt from a funeral home conglomerate that tried to put them out of business. It also covered what it's like having to let strangers into your home for services and dealing with bodies (and health violations) in their basement.
I work for the vault company that supplies the vaults and tent services for snyder funeral homes here in ohio. Thats crazy seeing there pictures. Its a small world lol.
Human nature being what it is, don't be surprised to see the cost of cremation rise to the cost of a regular funeral.
I believe viewing the deceased is a HUGE part of the grieving process... Even if you need to rent a casket.. I want to be able to say my last “goodbyes” before they’re “gone forever.” I want to see them one last time....❤
Well said Kaitlyn
These videos are amazing! Thank you!
Great work yet again, you are a breath of fresh air on my KZhead channel list
My mom wanted a big fancy funeral. Only thing is, she put my cheapskate sister in charge. Made her executor of her estate. My sister had my mom buried in a cardboard box. No open casket. Very small headstone. That way she could pocket the rest of the money in the bank, which is what she did. If my mom knew this was how her body was going to be treated, she would have been furious. I think it's incredibly funny.
It sounds like a special funeral meant something to your mother for whatever reasons, and she provided the funds for it. It seems a shame her last wishes weren't honored.
Its not funny at all,its shamefull!I hate shaby funerals!Everything is getting cheap!I still can remember some beautyfull catholic funeral as a child where i helpt out as "Assistent"of the priest!2 boys holding big candels one a beautyfull cross one handels the "Holly smoke"Very simple cheap caskets but nice ceremonys with a lot of prayers!Everybody was dressed propperly!But now its mosly all gone!Everything is to expensiv!Everybody is to lazy,cant even dress nice!
This happens more often than you may think.... I know a lady who wanted to be embalmed in a coffin and buried next to her husband, and left specific instructions with her daughter..., when she passed, her daughter had her cremated..... totally against her wishes...Same thing with an old neighbor I Lived down street from in St. Charles, IL. When he died , at 85.... of covid 2 years ago, his wife who left him 18 years previously, was to too cheap to pay for a traditional embalming coffin burial even though he very well could have afforded it... and was traditional in that sense...worth over 1,000,000.00 in savings....Really sad, how the vultures come out when a family member dies, and the deceased had no close relatives to see their final wishes were adhered to...........................My mom passed in 2016 fortunetly her life insurance covered her traditional burial...of 17,000.00
This is such a remarkable channel. Believe me man, you will make it big soon. Amazing research!
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Thanks for providing more info on this, might help in considerations after loved one is deceased.
Very informative, thank you!
Funerals are too expensive. My mom bought her husband (my step dad) a nice casket with the savings they had, and a nice funeral, but when my mom died, she was cremated, and there was no funeral. My mom was an unselfish person. I can't wait to see her again. My wife and I have decided on being cremated. This is to lessen any financial burden on the one that survives.
Great work. Surprised by the trends here. Also I know you verbally mentioned that there has been no meaningful increase nor decrease in spend for funeral service, but Service Corp Int’s bar graph at 16:15 should start at $0, else the ~$300 drop seems larger than life. I wonder how I should tell them… through seance?
I would not want to be cremated. I don’t want my family to have my body burned and do things with my ashes. I want to have a nice resting spot in the ground with my grandparents when they eventually die.
Your in-depth analysis is very insightful and I believe if you continually produce trending topic, your channel will hit 1M sub in no time. Looking forward for more videos.
A mortician is a technician who handles the bodies, A funeral Director runs the transportation, displays and burial. [Yes, there are places where One person might do all the jobs. These people might be small, and/or non-UNION shops.]
Since when? I am a mortician/funeral director/undertaker also a licenced embalmer but we all handle the bodies in some capacity. I will say that there are many trade embalmers who only deal with bodies and F.D.s who only meet with families. However, every one goes through Mortuary college, complete an apprenticeship and deals with all aspects of the business.
I remember when my mother died they brought us to the $8,000 coffins - are you fuckin nuts?? Made her show us to the cheaper coffins under $1000. It’s disgusting how they target grieving families who don’t know any better
Here in Australia the funeral business is now run by a few large companies, which leads to less flexibility in what the customer wants.
Very helpful good advice.
Wow. Such great content and quality
"Our national death cult has been producing more bodies year over year, why in the world aren't the funeral directors getting rich as expected?"
Maybe watch the video as it mentions a number of reasons for this.
@@guitarman3968 there aren't any reasons that justify the situation in this video lol, it simply explains the situation.
Municipalities can help, at least in one way, to minimize costs. In my town, an urn lot is only $75, and the burial cost for an urn is $50. Full burials are more expensive, as they involve a cement vault and the use of heavy equipment. The town appropriates funds to maintain the cemeteries, and there are trust funds to supplement them. However, these "bargains" are available to town residents and their descendants only.
This sounds like a good idea for both the municipalities, and the families! Make sure to voice your appreciation to your 'town fathers' or elected officials or municipal employees.
Very interesting video, thank you. I always knew being a mortician is lucrative. To me it is respecting the dead, someone’s beloved. Thanks again.
I don't get why you only have few thousands views on this video (and channel as a whole). Keep it up!
People can barely afford to live, let alone die in this society.
It really angered me that a week before I turned 65 I got an advertisement from one of these ghouls. Don't know if they get the names from people who apply for Medicare or some other source, but it was in extremely bad taste.
LOL, why does it bother you so much? Do you get pissed at the grocery store that sends you an ad flyer? Or get mad at the local car dealerships mailer who sends you info on a big sale? Why can't you just throw it in the garbage and move on?
@@MissterX Certain professions should maintain a level of dignity and not advertise and that is one of them.
@@robinsattahip2376 LOL, so just wait for everyone to come to them? Obviously you have NEVER ran a business. Let's get down to the real reason you don't like seeing their advertising, it forces you to confront your own mortality. That little piece of paper screams at you and says "you're human, mortal and you will DIE!" Who are you exactly to think you get to go through life sheltered from being reminded of that reality or of being offended? The absolute self absorbed, self centered, narcissistic audacity of you, it's truly disgusting! Throw it in the trash and go on living! Life is too short and you will be dead (in the relativity of time) very soon! And no matter how much time you spend crying on the internet about it YOU'RE GOING TO DIE! 😀😃😄😁😆😅😂🤣😭😭😭😭😭
In the wild west, it was a pine box and a trip to boot hill. Total cost to the country $10.
Outstanding. New subscription
One could say that the bussiness is being put too rest
to not too
Thanks for posting this video. You definitely buried the lede at the end and could have titled this "This company banks $14 billion on the business of death" since it's astonishing for a company to hold so much prepaid money that it doesn't have to spend for years, even decades. I think you did a good job trying to tie a lot of different facts together which come from a lot of different pieces of this large industry puzzle. I'm curious if Service Corporation has grown these assets especially in the last few years, and also how this is affected by markets like real estate, since after all cemeteries can run out of space, or have to start building "up" into less attractive mausoleums. lots to dig in there that I think reveals a changing industry just as much as the shift toward cheaper options like cremation. The bottom line to me though, and what could have been stated more strongly in the essay, is that while "death" as a premise is going up in demand what also really matters is the commodity's intrinsic value to the customer, and whether there are disruptors or competitors which affect that intrinsic value. You can take, for instance, consumer electronics as an equivalent industry (IBM vs. clones driving up demand but huge competition/cost crash), and diamonds/jewelry as perhaps a foil industry (still very valuable even as low cost alternatives emerge). Trends drive cost just as much as demand. Also just so you know, this video was flooded with stats, but very few visualizations which made is harder to follow than past videos. Some things you could have visualized to help tell the narrative better were - A diagram / flowchart of the burial vs. cremation process. - line item breakdowns or more structured summaries - could pull specific examples of stats for a given city/zip vs. generalized average costs nationwide
SCI has actually taken less of a market share lately. They're still hovering around 14% of the market but the trend is going towards favoring mom and pop shops. This can be a double edged sword tho because it makes it harder for non family members to find work.
Great channel!
thnks for the insight.
"The Business of Death" - is such a wide market, insurance, antiques, property renovation, funeral directors, religion. Can't imagine how much money is made every year from death.
I can't imagine the amount of money made from disease and illness either. Just the mask industry during Covid. Wow.
We discussed what we wanted to do prior to our deaths, we had been to several funerals and decided lining the pockets of funeral directors, ministers, reception hall space, and caterers was not what we wanted; better to leave that money to the surviving partner so life would be easier for the loved one left behind. That was just us, do what's best for you.
I look forward to your videos!
Keep it up brother. good shit
Great video as always, very thoroughly researched with great information! One bit of advice may be to re-record some clips where you stumble a bit. Obviously there's no point in pursuing perfection, but sometimes if feels like you swallow your words or get caught reading 2 words on your script at the same time. It happens to the best of us, but taking the extra time to ensure the audio is as great as the visuals and the info would really push this over the edge from sounding like a lecture to an edutainment video.
In the past the price on the casket included everything, but this led to hidden charges for services, so funeral homes were then required to make certain services optional; i.e. limousines, use of funeral home for visitations, transport of body to funeral home and to burial, all these became billed as independent services to stop excessive hidden charges. While a measure taken to give more options and limit cost, but now each part of the package goes up and up. Cremation does impact funeral business, and in the future more natural burials will begin to happen and funeral directors will lose that section of profit making. In the old days, bodies were brought to the home for viewing, etc. There are also more methods of cremation becoming available that do not require burning the body. So really big changes are coming down the road. This will also impact cemeteries and use of vaults, etc. It will be amazing to see what’s coming down the road. Funeral homes in the past were more able to stay focused on providing genuine care, but that is less and less possible. Corporate institutions brought a focus on profits above all else. Some states do require a funeral director signature on death certificates, but that could easily go away. Services can easily happen in churches and other religious institutions where viewing can also be provided, most often free of charge or a minimal charge for non members. Many churches also have burial spaces for cremains, and some even have cemeteries for lost cost or no cost. When you realize limousines and hearses cost close to 100 grand new, you see how much overhead accompanies the business. I suspect we will not recognize the business not far in the future.
You do know all funeral home offer cremation packages and are required to give you an itemized price list by law. There are no hidden charges. It is all right there and you can even request a price list ahead of time for pre-arrangement planning.
Amazing video
Great analysis.
I’m actually shocked Service Corp doesn’t count the pre-pay accounts in its books as “mark to market” the same way Enron did.
My Dad paid for everything, the cheapest way, no embalming, which meant he had to be buried within a few days of death and we couldn't pay extra for embalming because his wish was not to be. Regardless, it made everything easy for us and they couldn't take advantage of us. Thoughtful to the very end.
“business of grief, not business of death” Truer words were never spoken.
Awesome video. Sad to see it didnt do very well, hopefully that turns around!
my mother 's dad died in 1936 and he was waked at home in the parlor and they had to run electricity from across the lane to the parlor because they did not have electricity. they attacked a light bulb over his body and people would come in and see him. I was raised when they had wake at funeral homes and at certain times so I always thought that was such a odd story. the sad part was that those days dead in his home was the only time he spent there with his family at such a long time. he worked in the cotton mills, monday thru friday and bringing his pay home to my mere, he would take come money out of the pay and go spend the weekend at the bar.
Funeral industry preys on grieving families.
There is a prevailing ignorance concerning burial vs. cremation…this video to be included. People always compare a full traditional burial with direct cremation. People for some reason have absorbed a false knowledge (perpetuated by videos like this)in that you either purchases a full service burial or you go straight to the crematory. You don’t have just two choices…expensive or cheap. When comparing burial to cremation, a more appropriate comparison would be immediate/direct burial to direct cremation. People have developed a 2 pronged approach when purchasing. This just isn’t the case. It is like saying I am going to buy a car and thinking your only two choices are a rolls Royce or a Hyundai hatch back all the while ignoring all of the selections in between. When selecting a traditional burial…many more differences occur then burial/burning. A traditional burial affords the family a visitation/viewing, church/chapel service with graveside service to follow. Direct cremation skips all of this. You don’t have an any ceremonial, religious or public memorialization of the deceased. However, you can select all of this and then go to the crematory instead of a cemetery. The same is true to the inverse…you can go the burial route without all of the ceremonies which results in more comparative pricing to cremation. While I feel this video was fair and accurate about a lot of its points, it still exhibits this generalized, prevailing ignorance. Perhaps this is due to a lack in ability of the selected funeral home to explain such information. However, in my experience, people have already developed these opinions and views far in advance of the demise of their loved one. Another topic which makes funeral home owner’s toes to curl is when researchers,like the author of this video, select SCI as their example. They are the world’s largest CORPORATE conglomerate in the world. They own thousands of funeral homes globally. Here is the kicker…they are publicly traded and therefore are more worried about their bottom line. They have a board of directors which are beholden to shareholders. This is stark difference from your privately owned mom and pop locations. Comparing the two is like saying all of the business practices of wal mart are identical to your local hardware store resulting in similar offerings and quality of service. One more point to consider. There are three major life events which most people have to consider in their lifetimes. Birth, marriage /divorce and death. Name a ceremony or event which you can openly invite the public and it not affect the pricing? Funerals are the cheapest in that listed group. I will leave you with this. Think of a figure which you think is too much and then ask yourself this question. Would you do it for less? The funeral industry is one of the only industries which is non-government subsidized yet is required to be open 24-7, 365. Would you be willing to leave your family on Christmas morning to go and take care of the dead human remains if someone else’s loved one? Would you go at 3 o’clock in the morning to retrieve the decomposing body. Would you answer the call when you had plans to do something with your family only to have to go to the hospital to retrieve a still born baby for a grieving mother? People only see morticians at funerals, standing around hosting events. What they don’t understand is that 90% of the work has already occurred prior to the funeral. The 24-36 hour shifts through the night etc..etc. Funeral directors/embalmers are similar to doctors in that they are trusted with a person’s most prized possession…their loved one. However, morticians don’t get paid nearly as much as a doctor nor receive the adulation. For some reason, it is ok to charge a person to keep their loved ones alive, but is often frowned upon for funeral homes to provide a dignified and respectful disposition of that loved one after death. I hope this sheds some light on the subject.
I took a job selling Veteran funeral plots in Florida, and to be certified I had to learn how to cremate a body; it was quite interesting to do that, especially the part when you have to go in and break up the skull to finish the process.
I imagine it takes a certain mindset to do that. It sounds terrifying and I think I would jump back as a reflex if I had to see or touch that.
@@Drew791definitely requires a certain mindset to work with death. A friend of mine works as a coroner. Certainly has a dark sense of humor. Crushing a cremated skull is a lot less shock to it compared to say picking up body parts severed by a train across several miles.
They show that in a "certain kind of death"
@@Bonanzaking I've seen A LOT of death, blood, guts, mutilated bodies, etc. and it was never overwhelming to me; not pleasant things to deal with, but some people are and some aren't able to handle it, but millions are able too....
@@Bonanzaking If it’s the person’s wish to be cremated, then it is what it is. Plus, they’re dead, so I don’t think they care. I can’t imagine being a coroner. I’m a nurse, but decomp, especially after several days/weeks, takes a strong stomach.
As a native, I'm so glad that our tribe has a funeral insurance for us, but as the years go my, I noticed that the prices have gone up in years,
I'm a supervisor for the classy (but with rates mindful of what a typical member of the general public can afford) event rental facilities my city built and operates in a couple of its parks. Not picnic shelters or pavilions but actual buildings. An ever increasing percentage of our bookings are for remembrance/memorial receptions following a burial, receiving or spreading of ashes, etc. It seems, even many families with money are now paying mortuaries only for the unavoidable, 'practical' services they provide and then planning and managing the grief process/societal aspects (funeral gatherings, receptions, etc.) themselves.
Would have been interesting to also analyze the cremation diamond industry to see if that has had an impact as well.
Where they compact the ashes into a diamond? Yikes, something creepy about that.
i forgot about that.... Taking your Cremated Remains and turning them into Diamonds and the other one is taking your body have it decompose naturally and mix it with soil and turn it into fertilizer ... It's a good thing as in the US dont follow European funeral standards its a 180 degree difference
First time hearing about this, very cool idea!! You can wear grandma on your finger 💍
@@suebotchie4167 not really. What do you think about putting someone in the ground and planting a tree on them? I like that idea the best
@@alejandroc7357 nothing wrong with that. Probably how alot of trees took root - back in the day, when a dead person was put in a pine box and buried.
Very informative video, some of the cost items are presented a bit misleading however!
Coming from the field and you are so right about the ugly business they do 😢 I was great with all my families but had to leave due the corruption and lack of empathy . I feel bad for the ones left behind
overall, another great video. i learned a lot about a subject i wasn't too interested in. wish you would have thrown in a Godfather reference (probably the most memorable undertaker scene). just a few business points: 1. better to use operating margin than gross margin when comparing products (coffins) vs services (embalming) before the former captures labor costs 2. why buy funeral homes instead of riding the cremation trend? those funeral homes and cemeteries will eventually become obsolete except for a small slice of the market. (as a former McKinsey and BCG consultant, i learned that following the overall long-term industry trend is paramount for long-term success) 3. prepayment is great because you can generate interest (or investment) income off of the float; sometimes the customer doesn't collect (gift cards), family members decide on a different service after death keep up the great work. thank you!