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Financing for a funeral home, Welcome

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Good luck

Hi Knightnurse,

Because a relative owns the funeral homes, ask if they are willing to finance a portion of it. You may have $1.0+ in financing available there. Put down $500k and leave yourself some working capital if you can. Another option is for them to keep 25% equity, provide seller financing, and take a big part of your cash.

Do you have business experience, especially with running a business? Are current employees willing to stay? Are some key people getting close to retirement? What potential does the business have for growth so you could pay off loans quickly and buy out the remaining equity stake.

Another option is to find a funeral home director in another part of the state or country who might stake you a portion of the downpayment for a minority interest and first right of purchase (if you can't make a go of it). This plus your equity could qualify you for bank / SBA financing.

I have a client who consults with around 50 independent funeral home directors around the country. He's been in the business for 30 years. I'm happy to connect you if you wishe. Drop me an email through my profile.

Be On-Purpose!

Kevin

I agree with everything posted in response to your inquiry. If you need additional help please
contact me. Info on my company and contact info is on my profile. Thanks.

The funeral home also comes with a large cemetary that is about 10yrs old. They also have their own crematory at the main facility which services other funeral homes in the area. I worked in a funeral home all through high school and part of college but went on to other vocations but it has always been my first love as a business. My father owned and operated a funeral home for several years and would work with me in this business. The current owners are willing to stay for as long as needed to help me in learning the management of the business. I don't know yet but I'm pretty sure they are willing to carry part of the purchase price. I have found sites on the internet that specialize in funeral business financing. Once I have the specifics I was thining of contacting one of these (NewBridge, Vineyard).