Foundation Partners owns and operates over 40 funeral homes and cemeteries in thirteen states. The company brings together the knowledge of longtime funeral home owners, as well as the insight of diverse business experts to marry the best aspects of conventional end-of-life care with new ideas and technologies that will enable families to plan, prepare, acknowledge and share the purpose of a life. The industry has remained somewhat static for hundreds of years, but the recent introduction of low cost cremations has put downward pressure on revenue. In addition, the Baby Boomer generation and those that follow are beginning to seek alternative products and services not yet embraced by long time funeral home operators.
Integrated insight was hired to conduct a Strategic Revenue Assessment and an Operational Efficiency study for four homes and two cemeteries owned by Foundation in Columbia, South Carolina. Through a thorough evaluation of pricing, packaging, new product introduction, marketing and sales, we were able to identify a 30% percent improvement in operating income through revenue driving initiatives. In addition, leveraging back of house capabilities among homes resulted in cost savings.
Subsequent to the revenue and cost assessments, Integrated Insight has been retained to develop new sales materials and assist with training of staff on new products, services and sales approach to ensure identified income is achieved.
Demand and Revenue Forecasting, Market Assessment, Marketing, Sales, and Distribution Strategies, Operational Efficiency and Process Improvement, Pricing Strategy, Pro forma Development, Revenue and Profit Optimization, Strategy Design