With funerals averaging nearly $10,000 each, many funeral homes bring in revenue ranging from $1 to $1.5 million. Even with accounting for a business' expenses, it's clear that the funeral home industry can be a profitable one.Apr 14, 2021
Who makes the most money at a funeral home?
The highest 10 percent of embalmers make more than $69,900 per year, or $33.61 per hour. Embalmers in the lowest 10 percent income bracket earn $23,600, or $11.35 per hour. An embalmer working as a mortician or funeral director earns a median annual salary of $51,850, or $24.93 per hour.
Is owning a funeral home profitable?
On average, any funeral home can expect a mid-range gross profit margin of anywhere between 30 and 60 percent for each service, and an overall business profit margin between 6 and 9 percent.
Is funeral a good business?
Funeral homes are profitable, but they're struggling to stay that way. The growth of cremation as a cheaper alternative to burial has hit many funeral homes with a loss of revenue. Having a crematorium as part of your funeral home business is one way to stay afloat.Apr 1, 2020
How much is a funeral business worth?
How much is the U.S. Funeral Industry worth? The U.S funeral market is currently estimated to be worth around $20 billion annually, with 2.4 million funerals taking place each year.Apr 22, 2020
How much does the funeral industry make?
The US funeral industry accounts for about $20 billion in annual economic activity, with around 130,000 employees that make a living on the 1.5 million people that go to rest each year.Apr 25, 2014
Do funeral home owners make a lot of money?
Top-earning owners are said to make over $92,000, according to Career Trend. To start your own funeral home, you'll need between $150,000 and $300,000 to open a small-scale and intimate mortuary, according to Small Business Chron.Mar 11, 2020
Where do morticians make the most money?
State Employment (1) Hourly mean wage
---------- -------------- ----------------
Texas 1,920 $ 26.16
Ohio 1,700 $ 28.59
California 1,540 $ 24.87
New York 1,390 $ 31.16
Are funeral Directors rich?
#2: They aren't rich, either. In fact, recent studies from the Bureau of Labor and Statistics list embalming as one of the 15 disappearing middle class jobs. So don't think your local funeral director is sitting behind his desk, rubbing his hands together behind a huge pile of money.Dec 19, 2014