Online Business is Dying
Granted, it’s a bad joke. But it’s also true – there’s a cyber funeral service called
Basic Funerals. The business was started by a serial entrepreneur and a licensed funeral director.
They started selling funerals online in January of 2009. They grew more than 500% in 2010, mostly by word of mouth. Currently, they operate in Ontario, Canada and two states in the U.S. But they have ambitious expansion plans.
What can we learn from these two? Here are five of our takeaways:
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An outsider and an insider came together to make this online business a reality. The business is regulated so an insider was required. But even if that wasn’t the case, there are advantages to pairing up with an insider.
Similarly, sometimes it helps to have an outsider’s perspective. They may see things that an insider wouldn’t. Like “Hey, we could sell this online!”
The funeral home business has traditionally required a high overhead, physical facility. Basic Funerals doesn’t have that. We’ll explain why in just a second.
In addition, marketing online is very cost effective. The combination means Basic Funerals can sell its services at half the price traditional funeral homes would require.
Collaborate with the current players
Don’t cry for the locals. Basic Funerals sublets space from them. It’s a great business model. In fact, smart locals may see this as an opportunity to do more collaboration themselves.
People want options
Basic Funerals added the online dimension to booking a funeral in person or via phone. Some people just like to click to make purchases.
Niches are still available
What’s yours? If you have an idea but don’t know what to do about it, maybe we can help. E-mail us at email@example.com or leave us a voice message at 877.988.2444. See all of our services.
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Image in this post from jaylopez