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W W W. M A I N E B I Z . B I Z 17 N OV E M B E R 3 , 2 0 2 5 F O C U S FA M I LY OW N E D B U S I N E S S Economic pressures, changing customer prefer- ences and new technologies are reshaping the industry. While some owners are adamant about keeping the business in the family while pursu- ing expansions and new business models, selling to an outside buyer is also an option in a highly fragmented industry that's attracting strategic and financial investors alike. Industry's birth and rebirth e modern American funeral industry dates back to the Civil War, when embalming became a common practice. For many Americans, see- ing the preserved body of the murdered President Abraham Lincoln during a two-week procession from Washington, D.C., to his final resting place in Springfield, Ill., "left quite an impression," according to a Library of Congress blog post. It goes on to say that when undertakers formed the National Funeral Directors Association in 1882, the death-care industry was born. Today, the Brookfield, Wisc.-based trade group represents 20,000 individual members from more than 40 countries. Out of more than 15,000 funeral homes nationwide, 85% are family- or privately owned, according to September data from the group. With a 105,000-strong workforce, funeral homes generate $16.3 billion in revenue, while cremato- ries and cemeteries generate $4.3 billion. Market estimates differ. GrandView Research, a San Francisco-based market research and consulting firm, values the U.S. funeral homes market at $13 billion and forecasts 6% compound annual growth over the next five years, pointing to a higher death rate as a natural byproduct of the country's aging population. Researchers also note growing demand for unique, customized memorials and sustainable burial options from biodegradable urns to natural materials. Cremation, which costs about $2,000 less than a full-service funeral, is also a growing trend. 'Passionate about grief work' In Maine, 87 funeral homes employ nearly 500 people and generate revenue of around $68 mil- lion, according to the National Funeral Directors Association. e state's 29 cemeteries and crema- tories generate $5.6 million in revenue. While the 24/7, emotionally and physically demanding profession isn't for everyone, those in the business frequently speak of a "calling" and service to families at their darkest times. For Michael Hall in midcoast Maine, the calling came decades after his parents bought the Flanders Funeral Home in Waldoboro in 1958 and reopened it as Hall Funeral Home. After attending college out of state and working in the computer industry before deciding corporate life wasn't for him, Hall rejoined the family business, buying it in 1992 and running it ever since. He splits his time between locations in Waldoboro, Boothbay and omaston, where the family opened a crematory in 2021. Looking back on his childhood when the fam- ily lived in the funeral home, Hall remembers a tight-knit community where the "door was always open," and handing candy to hundreds of trick-or- treaters at Halloween. Years later at a Halloween party in college, Hall had a delayed meltdown over his mother's sudden death when he was 10 that he had long "tucked away" – a cathartic experience he now channels into helping others. "Grief is work," he says, "but I'm passionate about grief work." Many times, that work entails comfort- ing people who have never dealt with a loss and finding ways to honor their loved ones, be it in tra- ditional ceremonies or more informal remembrances. One service, held at a community center with a lot of summer memories where the deceased had coached tennis, was the "perfect place for it," says Hall. As he thinks about succession planning, Hall says he would never force his daughter who recently graduated from college to take over unless she wants to. Otherwise, he'd prefer to pass the torch to another family with similar values as he fends off occasional approaches from potential suitors. C O N T I N U E D O N F O L L OW I N G PA G E » GREATER REACH. STRONGER SERVICE. DEEPER COMMITMENT. Grow your business with reliability and confidence. FidiumBusiness.com | 1.844.343.4862 67,000+ fiber route miles 250,000+ on-net / near-net buildings $1.7 Billion+ in network investments since 2020 Grief is work, but I'm passionate about grief work. — Michael Hall Hall Funeral Homes & Cremation Services

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