Numlock News: September 23, 2022 • Dingers…

By Walt Hickey Have a great weekend! Funeral There are 19,000 funeral homes in the United States, a $23 billion industry where 80 percent of the facilities are individually owned and operated. This situation — lots of money, a necessary service, tons of small indie shops — is pretty much bait for private equity businesses looking to buy up lots of funeral homes, raise prices and roll them up into larger entities. A 2021 survey by the National Funeral Directors Association found 27 percent of owners plan to retire or sell within the next five years, and people are certainly buying: Of the 3,800 homes that are owned by funeral home chains, about 1,000 are owned by private equity-backed companies. When private equity rolls in, prices go up, such as when Angel Valley Funeral Home in Tucson cashed out, the price jumped from $3,405 for a full funeral to $4,480.

Read →