III. Industry Analysis
[Company Name] directly or indirectly competes with other funeral homes. There are nearly 29,000 funeral homes in the United States. According to a report by the National Funeral Directors Association, the overall funeral homes industry is extremely fragmented. It reports the majority of funeral home operators are small, locally owned, independent operations serving customers that live within 10.0 to 15.0 miles of the property’s location.. The total funeral homes market is estimated to grow to over $16 billion in the next five years. This growth bodes well for [Company Name]; since there are few elegantly affordable options in [location], and a local start-up can expect to have the advantage in the local market. There is plenty of room in the industry, provided the funeral home maintains a good reputation, and ensures effective cost controls.
Demand for the industry has been steady because industry services are nondiscretionary. Despite trends toward lower-cost cremations, this industry remains the default option for end of life preferences.
