09.06.09
Recession Proof Industry?
Recession Proof Industry?
November 19, 2008 on 3:36 am In Sound Off
There is evidence that the death care industry may not be as recession proof as it has thought. An article out of the San Francisco Bay Area tonight, concerning the impact the recession is having on cemeteries there now, touches on the present circumstances of locations that have invested heavily in their cemeteries only to learn with the recession that pre planning has slowed due to the present economy.
Considering the recent wave of layoffs and cutbacks, has it occured to you that at need may also become affected by these trends as well? Payment for at need services may not be available for many, given individual circumstances. The industry has learned from the past that this is required for a reason, but can the industry gamble on this continued practice if our economy continues to slide?
It is CemOps belief that the death care industry should be looking at alternative offerings and plans in the event this contiues for a protracted period of time. Those that find ways to provide the necessary services and make it possible for affected families to pay (other than cash now or nothing) will survive. Those that don’t may find themselves in a position not unlike those families that have been laid off or cut back on salaries, etc.
Another obvious item, is shoring up policies and procedures, and maintenance budgeting and practices to lower costs while maintaining high levels of service at the same time. This is a challenge that isn’t going away anytime soon. It will take creativity and structure to see us through some tough times ahead.
