How the Funeral Industry is Changing Right Now
Since last year significant changes in the funeral industry have been noted, and many experts are saying that we are entering a new era of death services . As most of us know, COVID has contributed to creating a slew of costs, which reduces revenue for the funeral industry across the country. Overall, the revenue potential of funeral industry has gone down considerably. The average cost, according to the NFDA, is around 9000 dollars, minus the cemetery charges. However, if a family goes for direct cremation services, the cost drops to $3,100. So, as families shift from traditional burial methods to cremation, the revenue is decreasing for traditional funeral planning. An interesting development is that independent funeral homes are buying and installing cremation machines to boost their businesses. According to a report, more than 20% of funeral homes have acquired and are operating their crematories in the USA, and around 10 percent have plans to tap into the cremation industr...