anding over a life’s work to the next
generation at the right moment
– this is the wish of many small – and
medium sized businesses in the funeral
industry. A well-managed transition
is
crucial
to
preserve
functioning
structures, business processes and an
established customer base. In many
cases, it is also a question of one’s
entrepreneurial and personal legacy.
For over 75 years, the funeral industry in Germany
has been characterized by family businesses.
It is not uncommon to meet colleagues who are
running the business in third, fourth or even fifth
generation. If they themselves have children or
other relatives working alongside them in the
funeral home, a succession plan is probably already
in in the pipeline again. That does not automatically
make it easier for everyone involved though, as
business and family matters may intertwine.
AT A CROSSROADS?
BUSINESS VALUATION AND SUCCESSION
IN THE GERMAN FUNERAL INDUSTRY
By Daniel Niemeyer M. A., Funeral Master, Lecturer, Business Consultant and
Dr. Simon J. Walter, Cultural Representative of the German Burial Culture
Foundation
© Aaron Burden / unsplash
22
No. 106 – SUMMER 2024 | THANOS MAGAZINE
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