Cremation businesses provide goods and services, like sealing ashes in pendants, paperweights, and memorial bowls. Prices vary from $1,000 to $2,500, depending on fuel used and circumstances. As the cremation rate continues rising in the US, meet the growing demand for simplicity and quality by opening your own crematorium.
You’ll need help running your crematorium, so bring in staff who have worked in the industry before to build a team you can trust. Seek advice from professionals or other business owners if you have questions about regulations, laws, permits, and licenses needed to open and operate legally.
Costs and Operations
The cost to set up a crematorium in South Africa is R7 million. A furnace costs R1,5 million and you need two to run a profitable business. It can cost between R600,000 and R3 million to open a funeral home, depending on location and company.
When operating a crematorium, you do not need special certification. All you need is formal training on operating crematory machines and running the business. If you come across any helpful certification, pursue it.
The cremation business is estimated as a $3-$5 billion industry, and growing. Meet the demand for simplicity and quality. The cremation rate in the US surpassed 50% in 2016 and continues to rise. This shift has created an opportunity for entrepreneurs to enter the market.
Business Management and Financial Planning
Get insurance, define your brand, set up accounting to track finances. The sources and uses table shows where capital comes from and how it gets spent. It helps size investment and understand risk distribution while highlighting starting cash position, which is key for sufficient funding until reaching break-even.
Opening a crematorium requires large start-up capital or investors. Entrepreneurs are trying less expensive niches like a crematorium for pets. This is promising as Russian law prohibits pet burial.