FUNERAL HOME

INTRODUCTION
 One can never plan for death. No one thinks starts the arrangement for funeral before
their relatives death no matter how serious, everybody wants their loved ones to always be
around. And when something unfortunate like death happens in a family it becomes
difficult at the time of bereavement.
At this point when the family is grieving and mourning, they are
caught up with the arrangement of logistics and haggling with
vendors and getting things ready for funeral.
And the most difficult part is that the present generation do
not know much about the last rites and how to conduct it.
 This is where the funeral home plays an important it provides
the family of the deceased with help and much needed closure.
 It not only provides aid to the family but also makes the process
easier. The family gets time to be with their loved ones in such time
of grief
SKILLS AND EXPERTISE
Death is always a sensitive issue and seldom a happy purpose until and unless someone is
after the property of their so called loved ones. So we will need workers who are smart
enough to present the awareness about funeral home in a careful and positive manner.
 Believe it or not we have all faced that day when we had to run to the
hospitals for paper works and for preparation for the funeral that we had
no time for spending time with our loved ones in such moment of grief.
 And Funeral home is a solution to such unnecessary wastage of
energy. And this what we want our society to understand that its
not always about business.
For Funeral home services we need to have solid people’s skill and if
we want to succeed we need to have an aptitude for marketing and
the ability to console who are grieving.
 The first goal is to get to know the community and develop a rapport
with locals and market our funeral home business in a tasteful manner,
so that we can gain a series of trust and understanding with our clients.
STARTING FUNERAL HOME
We need to ensure first that the business is legally compliant and
we need to avoid wasting time and money as the business grows:
PLANNING- First and foremost we need to have a clear plan, we
need consider the initial cost, target market and how long it will
take to break even.
FORMING A LEGAL ENTITY- Establishing a legal business entity will
prevent us from being personally liable if our funeral home is sued.
REGISTERING FOR TAXES- Registering for variety of state
and other taxes before we can start the business.
OPENING A BUSINESS BANK ACCOUNT- A dedicated account for
funeral home will keep our finances organized and will make the
business appear more professional to our customers.
 SETTING UP BUSINESS ACCOUNTING- Recording the various expenses and sources of
income is important in order to understand the financial performance of our business.
Keeping accurate and detailed account will also help in simplifying annual tax filing.
 OBTAINING NECESSARY PERMITS AND LICENSE- Acquiring
necessary permits and fines can save us from hefty fines and also
from getting the business shut down.
 GETTING BUSINESS INSURANCE- Insurance is considered really
important for any business. Workers compensation insurance is also
a legal requirement
DEFINING THE BRAND
A brand is what the company stands for, we need to introduce and position
our brand with the public in such a manner that they can connect with us.
A strong brand will help the company to stand out from the competitors.
The most important factor that can help us in gaining recognition in a city like Ranchi is, the
word of mouth. The way we carry out the work treat our clients and emotional support we
provide them is the best way to expand this business. People’s skill is the most important
requirement in this business.
 When need to market our self and position the brand without disturbing
anyone’s sentiments. In a job like this we cannot simply present our self as
an entrepreneur who is only considered with making money.
And the only way we can do that is by
creating awareness.
CREATING AWARENESS
BUSINESS WEBSITE- A business website will help our clients
to know more about our company and the services we offer.
It will also beneficial in solving the queries of
the clients.
We can upload stories of the client we served
and how beneficial our services was for them.
This can help in creating awareness as well as in creating a
positive impact in the minds of the public.
SOCIAL MEDIA- In today’s world social media
is the best way for creating awareness.
It can help us in attracting new clients and
also in depicting , who we are?
And
What we do?
FUNDING FOR STARTUP
INFRASTRUCTURE COST
1,00,000
NECESSARY REQUIREMENTS
DEAD BODY FREEZER
65,000
ASSETS
80,000
OTHER EXPENSES
1,50,000
TOTAL FUND REQUIREMENT
3,95,000/
As it looks this project will take time to grow, it is mostly about team
work, proper management training the workers to be efficient
because in a business like this we cannot afford to take any mistakes.
Break even point is expected to be on 2nd
year of March 2020.
PROFIT AND LOSS
While profitability will be realized on March 2020,
the 2nd fiscal year can show a slight profit margin.
When first the employee is hired it is anticipated that the first few
months, the time taken for each employee may exceed the amount
of time it would take for us to just do it our self.
 However, having staff in place and ready to make promises of
services we make in all our marketing efforts is critical to our growth
strategy.
LONG TERM PLAN
 The long term plan for “FUNERAL HOME” is to achieve market share and hold it. This will be an
expanding market over the next 22 years as the millennial generation nearly doubles mortality rates
from 11 percent per decade to over 18 percent by 2040.Keeping up with this growth, plus the
increase in population, will provide plenty of business for Funeral Home for generations to come.