A Performance Overview: Hoy Funeral Home
One of the questions we commonly hear when speaking with business owners is: how the firm will perform once it is owned a few years by SCI? Will success continue? Will associates be retained? We measure all of our acquisitions’ performance against expectations for the first three years after we partner. The results are very positive: 8 out of 10 firms exceed or meet our expectations.
Recently, we checked in with Bob and Mimi Enos at the Hoy Funeral Home in Buffalo, New York. Their firm joined the SCI family in February, 2017.
For over 70 years, the Hoy Funeral Home has operated from one location in West Seneca, New York, serving approximately 180 families in 2017. Bob and Mimi Enos, both funeral directors, had successfully run the business for over 35 years, and had been considering their options for a succession plan. They cared deeply about the families they served and the community in which they resided, and with no apparent heirs to the business, they wanted to ensure a smooth plan for the future of the funeral home.
Assimilation
Change can be difficult and transitioning from an independent business to an affiliate of a large corporation may seem intimidating. SCI had a long established footprint in the Buffalo area with the Dengler, Roberts and Perna group of funeral homes, affiliated with SCI for over 20 years. The businesses always had a mutual respect for one another and for the professional standards to which each business held themselves. While not direct competitors, the transition from an independent operator to a location within an established SCI market had the potential to be challenging.
“The welcome we received from everyone at SCI could not have been more gracious. We immediately felt that the Hoy business was a natural fit within the market, and we have embraced the opportunity to expand our footprint in the Buffalo area. Support from the local staff, as well as our co-workers in various departments throughout the company, eased our transition and confirmed that our decision to join SCI was a good one.”
Business Growth
As long time owners and active community members, Bob and Mimi had some concerns about how the community might react once the sale was announced and whether negative reaction might impact their business.
There were some questions, especially at first, from community members, neighbors and long-time acquaintances – with most individuals voicing a concern that Bob and Mimi were leaving the area and would no longer be involved in the business. Bob and Mimi personally spoke with each individual who called, assuring them of their continued involvement in the business, as well as their enthusiasm for joining the SCI network. Additionally, newspaper advertisements helped spread the word in a positive light they said.
Now, over a year later, the topic rarely comes up. The community has been very receptive of the transition from an independent business to part of the SCI network. “Our at-need funeral business grew in 2017 with an additional 40 calls over the previous year; our pre-need business has skyrocketed with an amazing 80 contracts written in 2017 for over $700,000; and, we are now able to offer the many services and products that only a Dignity Memorial provider can offer.”
At-need case volume at Hoy Funeral Home has remained steady throughout the transition and remains right on target for 2018. Key metrics are at or above expectations.
Associate Growth, Development and Retention
Following the sale, Bob and Mimi continued their roles as funeral directors, with Bob assuming the SCI role of Location Manager. All staff members have remained with the funeral home and they have added several new associates to the staff as well. As the months progressed, it became clear that the business would benefit from having an individual dedicated to securing pre-need arrangements - something the Hoy business had not actively pursued in the past. That role seemed to be custom made for Mimi!
As a husband and wife team, the Enos’s value the flexibility that a part-time schedule affords Mimi as a pre-need arranger. Mimi embraced her new role with enthusiasm, proving that she is a natural at helping families prepare pre-arranged funerals – within the first seven months as a pre-need arranger, Mimi secured more than triple the firm's previous pre-arrangement volume! This more than three-fold increase in pre-need volume certainly underscores that the community remains more than confident in the future of the firm, regardless of ownership.
As the inaugural year has unfolded, Bob has discovered new and unexpected opportunities for his own personal development as a funeral service professional. He has become involved as a mentor in the Eastern Business Unit’s mentoring program, which has allowed him to share the knowledge and expertise he has gained through years of experience with a new generation of funeral directors. At the same time, aware of Bob's previous service to the New York State Funeral Director’s Association (including serving as president in 2014-2015), SCI has sought his leadership, advice and participation in our legislative efforts. "I never would have had the time to pursue things like mentoring or legislative involvement prior to joining SCI. This has created new opportunities for our associates and new opportunities for me to continue making a difference in funeral service. I have found myself re-energized as a funeral service professional!"
The Future Looks Bright
"We're more than pleased with our decision to partner with SCI," Bob said. “It’s been a positive experience for our business and employees, and most importantly, the families we serve. It's a great feeling to know that our community will continue to be well cared for with Hoy Funeral Home as part of the SCI family – both now and in the future".
Recently, we checked in with Bob and Mimi Enos at the Hoy Funeral Home in Buffalo, New York. Their firm joined the SCI family in February, 2017.
For over 70 years, the Hoy Funeral Home has operated from one location in West Seneca, New York, serving approximately 180 families in 2017. Bob and Mimi Enos, both funeral directors, had successfully run the business for over 35 years, and had been considering their options for a succession plan. They cared deeply about the families they served and the community in which they resided, and with no apparent heirs to the business, they wanted to ensure a smooth plan for the future of the funeral home.
Assimilation
Change can be difficult and transitioning from an independent business to an affiliate of a large corporation may seem intimidating. SCI had a long established footprint in the Buffalo area with the Dengler, Roberts and Perna group of funeral homes, affiliated with SCI for over 20 years. The businesses always had a mutual respect for one another and for the professional standards to which each business held themselves. While not direct competitors, the transition from an independent operator to a location within an established SCI market had the potential to be challenging.
“The welcome we received from everyone at SCI could not have been more gracious. We immediately felt that the Hoy business was a natural fit within the market, and we have embraced the opportunity to expand our footprint in the Buffalo area. Support from the local staff, as well as our co-workers in various departments throughout the company, eased our transition and confirmed that our decision to join SCI was a good one.”
Business Growth
As long time owners and active community members, Bob and Mimi had some concerns about how the community might react once the sale was announced and whether negative reaction might impact their business.
There were some questions, especially at first, from community members, neighbors and long-time acquaintances – with most individuals voicing a concern that Bob and Mimi were leaving the area and would no longer be involved in the business. Bob and Mimi personally spoke with each individual who called, assuring them of their continued involvement in the business, as well as their enthusiasm for joining the SCI network. Additionally, newspaper advertisements helped spread the word in a positive light they said.
Now, over a year later, the topic rarely comes up. The community has been very receptive of the transition from an independent business to part of the SCI network. “Our at-need funeral business grew in 2017 with an additional 40 calls over the previous year; our pre-need business has skyrocketed with an amazing 80 contracts written in 2017 for over $700,000; and, we are now able to offer the many services and products that only a Dignity Memorial provider can offer.”
At-need case volume at Hoy Funeral Home has remained steady throughout the transition and remains right on target for 2018. Key metrics are at or above expectations.
Associate Growth, Development and Retention
Following the sale, Bob and Mimi continued their roles as funeral directors, with Bob assuming the SCI role of Location Manager. All staff members have remained with the funeral home and they have added several new associates to the staff as well. As the months progressed, it became clear that the business would benefit from having an individual dedicated to securing pre-need arrangements - something the Hoy business had not actively pursued in the past. That role seemed to be custom made for Mimi!
As a husband and wife team, the Enos’s value the flexibility that a part-time schedule affords Mimi as a pre-need arranger. Mimi embraced her new role with enthusiasm, proving that she is a natural at helping families prepare pre-arranged funerals – within the first seven months as a pre-need arranger, Mimi secured more than triple the firm's previous pre-arrangement volume! This more than three-fold increase in pre-need volume certainly underscores that the community remains more than confident in the future of the firm, regardless of ownership.
As the inaugural year has unfolded, Bob has discovered new and unexpected opportunities for his own personal development as a funeral service professional. He has become involved as a mentor in the Eastern Business Unit’s mentoring program, which has allowed him to share the knowledge and expertise he has gained through years of experience with a new generation of funeral directors. At the same time, aware of Bob's previous service to the New York State Funeral Director’s Association (including serving as president in 2014-2015), SCI has sought his leadership, advice and participation in our legislative efforts. "I never would have had the time to pursue things like mentoring or legislative involvement prior to joining SCI. This has created new opportunities for our associates and new opportunities for me to continue making a difference in funeral service. I have found myself re-energized as a funeral service professional!"
The Future Looks Bright
"We're more than pleased with our decision to partner with SCI," Bob said. “It’s been a positive experience for our business and employees, and most importantly, the families we serve. It's a great feeling to know that our community will continue to be well cared for with Hoy Funeral Home as part of the SCI family – both now and in the future".
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