How to Sell a Funeral Home Business: Full Guide

So, you've decided to sell your funeral home. Congratulations! This can be a very lucrative decision, but it's important to remember that there are a lot of things to consider during the selling process.

In this guide by the funeral home marketing experts at Funeral Home Media, we will walk you through everything you need to know in order to sell your funeral home successfully. We'll start with the basics, like funeral home valuation and how much a funeral home is worth.

Then, we'll move on to more specific topics, like how to market your funeral home and what kind of paperwork you'll need to complete. By the end of this guide, you should have a good understanding of what selling a funeral home entails and how best to go about it.

Step 1. Determine the value of your funeral home.

One of the most important steps in selling a funeral home is to determine its value. There are a few different ways to do this, including a professional appraisal or a comparative market analysis (CMA).

A professional appraisal is usually the most accurate way to determine the value of your funeral home. However, it can be expensive (usually a few thousand dollars) and time-consuming.

If you don't want to go through the hassle (or expense) of a professional appraisal, you can try doing a comparative market analysis (CMA). This is a less formal way of valuing your funeral home, but it can still be fairly accurate.

To do a CMA, simply look at recent sales of similar funeral homes in your area. This will give you an idea of what your funeral home is worth. You can also use online tools to help you determine the value of your funeral home.

Step 2. Decide whether to sell your funeral home business or just the property.

Once you know how much your funeral home is worth, you need to decide whether to sell the business or just the property. If you're selling the business, that includes the licenses, permits, and goodwill.

If you're just selling the property, that means the buyer will need to get their own licenses and permits. This is usually less work for the seller, but it can be more difficult to find a buyer who is willing to do this.

In some cases, you may be better off selling the property and leasing it to a funeral home operator. This can be a good way to generate income from your funeral home without having to sell the business.

Step 3. Choose a selling method.

Once you've decided what you're selling, you need to choose a selling method. The most common methods are listing with a broker or selling directly to a funeral home operator.

If you list with a broker, they will handle all of the marketing and paperwork for you. This can be helpful if you're not familiar with the selling process. However, it can also be expensive (usually around ten percent of the sale price).

If you sell directly to another funeral home operator, you'll need to do your own marketing. This can be more work, but it can also save you money on commissions.

In some cases, you may be able to sell your funeral home through an online auction. This can be a good option if you're looking for a quick sale.

Step 4. Gather the necessary paperwork.

Once you've chosen a selling method, you'll need to gather the necessary paperwork. This includes things like your funeral home's license, financial statements, and appraisals.

You'll also need to fill out some paperwork for the sale itself. This includes a sales contract and other transfer documents.

If you're selling the business, you'll also need to transfer the licenses and permits. This can be a complicated process, so it's important to get help from a lawyer or accountant.

Step 5. Market your funeral home.

Now that you have everything in order, it's time to start advertising your funeral home. If you're selling the business, you'll need to let people know that it's for sale.

The best way to do this is with a broker or online listing. You can also tell people in your community that you're selling the funeral home.

If you're just selling the property, you'll need to find a buyer who is interested in starting a funeral home business. You can do this by contacting funeral home operators in your area.

You can also market your funeral home online. There are a number of websites that list funeral homes for sale, and you can even post it on your social media profiles.

Key Takeaways

The most important thing to remember when selling your funeral home is that you need to be prepared. Make sure you know what you're selling, how much it's worth, and what the buyers will need to do to get started.

Once you have all of this information, you can choose a selling method and start marketing your funeral home. With a little effort, you can sell your funeral home quickly and easily.

If you're thinking about selling your funeral home, there are a few things you need to know.

First, you need to decide what you're selling: the business or just the property. Second, you need to choose a selling method. And finally, you need to gather the necessary paperwork and start marketing your funeral home.

With a little planning and preparation, you can sell your funeral home quickly and easily.