Cemeteries: A Grave Business Waterville ME

Is a cemetery a viable option for undeveloped land? In light of the faltering real estate market, many investors and developers may find themselves with property that no longer has an immediate purpose. Creating a housing development no longer makes financial sense, with prices so low and a distinct lack of buyers. Some property owners trying to find a use for their undeveloped land may have considered establishing a cemetery as a possible solution.

And there may be definite perks to the cemetery business during these difficult times.

“This industry has been pretty recession-proof. [People] certainly need what you’re selling,” Lawrence Anspach, president of American Cemetery Mortuary Consultants in Las Vegas and a former funeral home owner/operator, said. “In hard times, sales in our industry go up. Six months ago maybe [a family was] thinking of getting a second TV, but now they’re thinking they’re going to need a funeral in the future. They start to think more about items of necessity.”

Cemeteries are more complex than they may first appear But creating a cemetery requires a lot of legal legwork and substantial funds, not to mention a commitment for the rest of eternity. Investors mulling over this possibility should consider all the details before deciding to make the death industry their life’s work.

First, consider the legal elements involved. Different regions have different regulations, some more prohibitive than others, and hiring qualified legal counsel is a must. Check into zoning requirements in the area, and know what the planned usage is for the space; building a mausoleum or a crematorium will probably require different zoning permissions than a traditional cemetery. It’s also worth bearing in mind that many states require owners of private cemeteries to establish a $25,000 care trust fund to help support startup costs, according to the International Cemetery, Cremation and Funeral Association (ICCFA).

And, before starting down the road of master plans and official legal petitions, would-be cemetery owners need to seriously consider whether or not a cemetery is even necessary.

“Cemeteries work within a 20 to 25 mile radius of where the population center is. What cemeteries are currently supporting the area? Is another cemetery needed?” Robert Fells, external chief operating officer and general counsel for ICCFA, said. If there is already an established cemetery in the region, customers may not be willing to use a new burial ground, especially if other members of their families have already been interred at the existing location.

The heritage factor can be hard to beat. If entrepreneurs want to coax customers away from that 100-year-old local cemetery, they may need to draw on their creativity to make it happen.

“I would say the main thing is to do something so unique that someone wants to drive an extra 50 miles.

Click here to read the rest of this article from NuWire Investor