5th Generation Cremation Services

Description of Business:

5^th Generation Cremation Services was created to provide services for both human and pet communities. Due to the popularity of cremation all over the world, cremation services are in demand both near and far. 5^th Generation Cremation Services will serve five cities within a 25 mile radius to Ripley, TN. These cities will include but are not limited to Henning, TN, Covington, TN, Dyersburg, TN, Brownsville, TN, Halls and Gates, TN. The demand and cost for these services is both desired and demanded. Funeral and Cemetery cost have increased dramatically within the last year but the job market has not supported this increase. Cremation services are less expensive than funeral and cemetery services. In addition, families can have access to their loved ones remains over a period of time until they decide how they would like to celebrate their lives.

Ownership and Management

FUNCTIONAL STRUCTURE

The employees will report directly to managers within their functional areas who in turn report to me (CEO/Owner). There will be a secretary, two managers which include, Cremation manager, Operations manager and and accountant. The secretary would need to have an energetic personality and passion for people, previous skill set in funeral business terminology, computer and excel software efficiencies. Crematory Managers would need to be trained operators with funeral director license. Operational Manager would be a visionary, business minded and experienced negotiator. Licensed Accountant will oversee balance sheets and financial operations of company.

Description of Product:

Cremation is projected to become a $2.9 billion industry. The market increased by 1% in 2022 and is still on the rise. The market size, measured by revenue, of the Cremation Services industry is $3.1bn in 2023. Which is 2.1% increase in from 2022 to 2023 based on IBIS World Industry Report.

Goals and Objectives:

The funeral industry has to evolve in order to maintain responsiveness to client needs. The objective is to provide local, affordable, unique and professional services to surrounding communities in the West TN region. Some funeral plans are to provide in advance and at-need services for when a person dies. Cremation services that cater to client satisfaction through adequate preparation of the deceased even as they develop new or alternative funeral practices.