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eziFunerals raises concerns about the death care industry

 

Australian consumers are not aware that the majority of local funeral director businesses are owned by public listed companies trading on the Australian Stock Exchange. The names on signs outside the funeral homes are well known, but revenues and profits from them flow to corporate shareholders, not consumers.

So, if you’re contracting the services of a local funeral director, it’s important you know the company your dealing with before making that first phone call and it helps to know your rights and understand how the industry operates.

 

Don’t assume your local funeral home is family owned

The funeral industry in Australia is dominated by two listed funeral stocks, InvoCare Limited (ASX: IVC) and Propel Funeral Partners (ASX:PFP). Between them they currently control over 40% market share nationally (…and growing).These big chains are reporting higher and higher profits as they continue to increase their footprint and buy out small operators to increase their market share. This may be good news for shareholders, but not for consumers.

*These companies continue to acquire independent funeral homes and the list of funeral brands owned by InvoCare and Propel Funeral partners may vary annually. We do our best to update this list as new information is provided.

 

Who are InvoCare Funeral Brands?

InvoCare, which is listed on the Australian Securities Exchange (IVC:ASX), is Australia’s largest provider of funeral, cemetery, crematoria and related services. It currently operates over 290 funeral locations and 16 cemeteries and crematoria, across Australia, New Zealand and Singapore.

InvoCare, owns well known funeral home brands such as White Lady Funerals, Guardian Funerals and Simplicity Funerals, and has control of more than 34% of the Australian funeral market. It also owns related services and products Guardian Funeral Plans, MyGriefAssistMyMemorial and Funeral Planner.

 

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Who are Propel Funeral Brands?

Propel Funeral Partners performed over 10,000 funeral services in FY18 and the Company’s portfolio currently comprises 108 locations (54 freehold and 54 leasehold) in Australia and New Zealand, including 24 cremation facilities and 7 cemeteries. It’s recent acquisitions include Seasons Funerals in Western Australia and Norwood Park in New South Wales, Newhaven Funerals in Queensland.

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eziFunerals supports Independent Funeral Directors in your community

If local ownership and community involvement are important to you, you should ask who owns and operates the funeral home you are considering.

Despite the monopolisation of the funeral industry, there are still many independent, privately owned funeral directors who are invested in their communities. They are not distracted or bound by corporate rules handed down from head office and shareholders but can be flexible and responsive to individual needs, providing a highly personal and compassionate service.

If you need a Quick Funeral Quote, you can connect with independent funeral directors in your area by simply using our easy funeral quote request form.

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24/7 eziFunerals support

eziFunerals supports individuals and families cope with end of life decisions, death and funerals. We are an independent, Australian-owned and operated company, and are not a subsidiary of any other corporation. We do not conduct funerals and we are not part of any other funeral company.