Who Profits in the Funeral Industry?
Who Profits in the Funeral Industry?
Let's follow the money trail.
Hi Oddies,
Jen Glantz here. Somehow, a few decisions here and there, recently led me into an industry I never thought I’d be in:
The funeral industry.
My business partner and I decided to build on the technology we created for our AI wedding speeches and build a eulogy generator business.
The goal was simple — help people organize their thoughts and words to write them a eulogy during an extremely emotional and tough time in their life.
While we’ve received a lot of thank you notes from customers we’ve been able to help, I’ll admit this to you: it’s a super sad industry to work in.
Yet, it’s an industry.
So today, let’s dive into the business of funerals and other end-of-life services that are offered.
💻 But First: My Tech Stack
I’ve been eyeballing a lot of X threads of people’s tech stacks — the tools they swear by for their business and life. So I decided to keep a running list of my own right here. I’ll update this each week with the best tools I use as a solopreneur:
Social Media & Marketing:
Tailwind: Makes it super easy to schedule 100+ pins a month on Pinterest.
Flodesk: Marketing emails that are easy to design and send.
Event Share: Lets all guests upload photos to one spot at/after an event
Any Email Finder: Gives you anyone’s email. I use this for outreach.
48-Hour Logo: A speedy fast way to get logo designs for your bizz.
ReplyGuy: A service that mentions your bizz on Reddit and Twitter.
Website:
InstaWP: A fast and easy way to build a Wordpress website.
Weebly: Free website builder that requires zero coding or skills
Opt-in Monster: Helps you capture leads on your website in a handful of ways
Swift Brief: Scans your website and suggests + writes SEO blog posts for it.
Content Creation:
Fiverr: Outsource work and get quick results. I use it for editing, social media, and design.
Typefully: Writes you catchy, personalized, and engaging Linkedin posts
Hemingway: Edits your writing in real-time to make it perfect and professional
Random but Good:
Toggl: A time-tracking tool that organizes how you spend your minutes.
Cratejoy: My go-to last minute gift for a birthday or holiday.
Classpass: Not tech but it’s part of my life stack. I take workout classes using this app.
Make Money Stack:
Poshmark: I sell clothes and other items around the house
Etsy: Dreaming up what to sell on this platform.
Survey Junkie: Get paid to take surveys
Howl: How I get affiliate/brand deals as a creator
Who Profits in the Funeral Industry?
Death is an inevitable part of the human experience, yet it's also a significant industry. The funeral business, often operating behind closed doors, is a unique blend of emotional support, cultural traditions, and commerce. Let's take a closer look at this unconventional sector, exploring its various facets, costs, and even some of the more unusual jobs it creates.
A Growing Market
The global death care services market was valued at $102.3 billion in 2020 and is projected to reach $161.8 billion by 2027, growing at a CAGR (compound annual growth rate) of 6.7%. This growth is driven by several factors:
An aging population, particularly in developed countries
Increasing awareness and adoption of pre-need funeral planning
Rising disposable income in emerging economies
Growing preference for personalized funeral services
In the United States alone, there are approximately 19,000 funeral homes, making it a significant sector of the economy.
The Main Players and Their Services
1. Funeral Homes
Funeral homes handle the bulk of death care services, from body preparation to organizing memorial services. The average cost of a funeral with viewing and burial in the U.S. is $7,848, according to the National Funeral Directors Association (2021 data). This typically includes:
Basic services fee: $2,300
Transfer of remains: $350
Embalming: $750
Other preparation of the body: $255
Use of facilities for viewing: $450
Use of facilities for funeral ceremony: $515
Hearse: $340
Service car/van: $150
Basic memorial printed package: $175
Additional costs may include the casket (average $2,500), vault ($1,572), and cemetery plot (varies widely, from $1,000 to $4,000 or more).
2. Cemeteries
Cemeteries provide burial plots and maintenance services. Costs associated with cemeteries include:
Plot purchase: $1,000 - $4,000+ (varies greatly by location)
Opening and closing the grave: $1,000 - $3,000
Headstone or grave marker: $1,000 - $3,000
Perpetual care fees: Often built into the plot cost, but can be separate
Some cemeteries are running out of space, leading to innovative solutions like vertical cemeteries in urban areas.
3. Crematoriums
Cremation is becoming increasingly popular, with over 50% of Americans now choosing this option. The average cost of a cremation with a viewing is $6,970, while a direct cremation (without viewing) can cost as little as $2,000. Costs typically include:
Cremation fee: $300 - $800
Cremation casket or container: $50 - $1,000
Urn: $50 - $1,000+
4. Casket and Urn Manufacturers
The casket industry in the U.S. is worth approximately $1.5 billion annually. Caskets can range from simple $500 models to elaborate $20,000+ versions. Materials include:
Wood: Pine, oak, mahogany (ranging from $1,000 to $10,000+)
Metal: Steel, copper, bronze (ranging from $1,500 to $20,000+)
Eco-friendly options: Wicker, cardboard, wool (ranging from $500 to $3,000)
Urns typically cost between $50 and $1,000, with custom designs potentially costing much more.
5. Online Memorial Services
A growing sector in the digital age, online memorial services offer virtual spaces for remembrance. Costs can range from free basic memorials to premium services at $50-$100 per year. Some platforms offer permanent memorials for a one-time fee of $250-$350.
Unusual Business Practices
The funeral industry has some practices that might seem odd to outsiders:
Upselling: Funeral directors often present grieving families with premium options, leading to higher costs. This practice has faced criticism for potentially exploiting emotional vulnerability.
Embalming: While not always necessary (especially for immediate burial or cremation), it's frequently promoted as standard practice. Embalming costs average $750 and is often presented as a way to make the deceased look "more natural" for viewing.
Package Deals: Many funeral homes offer bundled services, which can include items families may not need or want. While convenient, these packages can sometimes lead to unnecessary expenses.
Pre-need Sales: Selling funeral services in advance is a significant revenue stream. While it can provide peace of mind, it also locks in future business for the funeral home.
Rental Caskets: Some funeral homes offer rental caskets for viewing before cremation, typically costing around $1,000. The body is placed in a removable liner within the casket.
Ethical Concerns and Regulation
The industry faces scrutiny due to potential exploitation of grieving families. The Federal Trade Commission's Funeral Rule aims to protect consumers by requiring:
Price transparency: Funeral homes must provide itemized price lists
Right to choose: Consumers can purchase only the goods and services they want
Prohibitions on certain practices: Such as claiming embalming is legally required when it's not
Despite these regulations, concerns persist about high costs and potentially predatory practices in some parts of the industry.
The Future of Death Care
As societal attitudes towards death evolve, so does the industry:
Green Burials: Environmentally friendly options are gaining popularity. These can cost between $1,000 and $4,000, significantly less than traditional burials.
Technology Integration: Virtual funerals, which became more common during the COVID-19 pandemic, are likely to remain an option. AI-powered legacy preservation services, allowing people to create digital versions of themselves for future interaction, are also emerging.
Personalization: Unique, tailored services are becoming more common. This includes themed funerals, custom-designed caskets, and even having ashes turned into diamonds (costing $3,000 - $20,000).
Space Burials: Companies now offer to send a small portion of cremated remains into space, with prices ranging from $2,500 for Earth orbit to $12,500 for lunar orbit.
Odd Jobs in the Funeral/Death Industry
The death care industry has created some unique career opportunities:
Funeral Celebrant: These professionals create and perform personalized, non-religious funeral ceremonies. They typically charge $250 - $1,000 per service.
Conservation Embalmer: Specialists who preserve bodies for medical research or long-term viewing, such as with Lenin's body in Moscow.
Cremation Jewelry Maker: Artisans who create jewelry incorporating a small amount of cremated remains. Prices can range from $50 to over $1,000.
Digital Legacy Manager: Professionals who manage the online presence of the deceased, including social media accounts and digital assets.
Cryonics Technician: Workers at facilities that freeze bodies or brains in the hope of future revival. Costs for cryopreservation can range from $28,000 to $200,000.
Reef Ball Maker: Creating artificial reef structures that incorporate cremated remains for underwater "burial." The cost for this service is typically $3,000 - $7,000.
Death Doula: Professionals who provide emotional and practical support to the dying and their families, similar to birth doulas. Fees can range from $25 to $100 per hour.
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