When it comes to earning extra revenue, your opportunities are endless! Whether you want to offer a new payment option like life insurance assignments or earn a commission on online flower sales, there are many options!
However, perhaps the most important question isn’t how you’re going to earn extra funds, but what you’re going to do with those funds. Without a clear plan, you may not be making the most of your extra revenue. To give you some inspiration, we’ve brainstormed ten ways you can reinvest in your funeral home.
1. Renovate Your Facility
Whether it’s a small or large-scale renovation, your extra revenue can contribute to updating your funeral home’s facility. For small-scale renovations, you can update your wall art, light fixtures, or other cosmetic changes. For large-scale renovations, you can renovate your lobby or add an event space.
2. Offer New Services
Another idea that also can become another revenue opportunity is to offer new services. These can be new disposition options, such as green burial. Or it can be new merchandise like caskets, urns, and memorial products. You can even explore some out-of-the-box options like offering catering services.
3. Hire More Employees
If your funeral home is short-staffed, you can use the extra funds to hire some more employees. These can be funeral directors, secretaries, accountants, or whatever positions you’re looking for. You also can consider hiring interns. Along with internships for those who are interested in becoming a funeral director, a marketing intern, research intern, and event coordinator intern are just a few other internship ideas.
4. Host Events
Your extra revenue can be put towards hosting in-person or virtual events. These can be related to funeral planning, or they can be for bringing your community together. For example, a few ideas are an educational grief webinar, a remembrance event, and a community barbecue.
5. Invest in Marketing
Even if you already have a marketing strategy, you can boost your current efforts or explore some new options. For example, if you have a Facebook Page, you can try boosting some of your social media posts. Or you can try your hand at video marketing and create some educational videos.
Let us worry about your social media pages, so you can focus on your client families. Click here to learn more about our social media packages!
6. Expand Your Employee Appreciation Efforts
To show your employees you appreciate them, you can use the funds to treat them to something special. A few ideas are getting food delivered for a lunch, throwing a party, going on an employee retreat, or giving them a gift and handwritten note.
7. Update Your Landscaping
Besides renovating your facility, don’t forget about updating your landscaping! This can be a large-scale renovation like adding an ash scattering garden. Or it can be as simple as planting some fresh flowers or plants to spruce it up a bit.
8. Sign Up for Educational Courses
Expand your knowledge by signing up for some educational courses! These can be at in-person or virtual conferences. For course topics, you can watch ones that are funeral profession related or about related fields like marketing and event planning.
9. Take Care of Travel Expenses
Eventually, we’ll be able to travel normally again, so it’s never too early to start saving up for the next trade show or conference. With some extra funds, your employees can take an extra day to explore the city they’re in and do a fun activity together. Or you can treat everyone to dinner at a local restaurant.
10. Upgrade Your Funeral Technology
It’s important to stay up to date on the latest trends, so make sure your funeral technology isn’t falling behind. With the extra revenue, you can update your website or get a new logo design. With a Frazer-powered funeral home website, we’ll make sure your website is in the right decade.
How do you plan to reinvest in your funeral home? Share your ideas with us in the comments!