Unlocking Funeral Home Deals: First Steps to Success! – Take it to the Bank 008

In episode 8 of Take It to the Bank, hosts Tim Bridgers and Ryan Thogmartin dive deep into the process of buying and expanding a business, specifically focusing on funeral homes. Tim, the expert, shares essential tips for conducting due diligence before acquiring a business.

The episode covers:

• The importance of understanding the buyer’s story and align personal goals with the business acquisition.
• Key steps to prepare, including organizing personal financial statements, reviewing personal credit, and creating a high-level business plan.
• Common challenges in the loan process, such as miscommunication with sellers and issues with real estate valuations.
• The value of being prepared early in the process and the importance of contacting financial experts early on for guidance.

This episode is a comprehensive guide for individuals looking to buy a business, especially those in the funeral home industry, offering a detailed checklist of preparation steps and potential obstacles.

For more information on Live Oak’s products and services contact Andrew Kennedy, VP of Funeral Home and Cemetery lending, at andrew.kennedy@liveoak.bank.