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Costco Sells Caskets?

November 19, 2008 RSS Feed Print

Investor, columnist and Stockpickr.com founder James Altucher was just on CNBC talking up some ideas from his new book "The Forever Portfolio: How to Pick Stocks That You Can Hold for the Long Run" (Portfolio).

He was talking about buys in the death industry, specifically Service Corporation International (SCI) which is the closest thing there is to a funereal conglomerate. Altucher's basic premise (as with most of his picks in the book) is demographics. Basically, boomers are getting older and as they age demand for the services SCI provides will rise.

That's not the interesting part though. This is: You can actually buy a coffin at Costco.

That's right. Six pounds of shrimp, a pallet of toilet paper, and a reasonably priced eternal resting place all for a low annual membership fee.

Here's the link.

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Just returned from my Sister-in-law's funeral in Ohio. I feel so sorry for her husband, he went to the funeral director with a $10,000 insurance policy. He is 75 years old, handicapped, and has only SS income, and lives in his house with a reverse mortgage. The funeral director sold him funeral for $12,000 and told him he would give him a $4,000 discount. Well, he was upset and didn't realize he was being taken. He signed the agreement and the director gave him a bag of groceries and his condolences. It's after the fact now, no use enlighten the husband at this point, but you can be darn sure my husband and I will start shopping around. These guys are criminals.

DR Perry of WV 9:29PM April 04, 2010

I am sorry for your loss. I am also sorry for the poor service you received from the funeral home you chose. It is very unfortunate and I hope those involved and families such as yours and mine will never experience such heinous carsales-like "service" again. I regret having to defend the funeral service industry but your letter prompted me to do so, please understand I mean no offense to you in any way.
Perhaps all of the funeral homes in your area are owned by the same group or are coincidentally run in poor taste. I have been in funeral service for 25 years in California and have rarely heard of such reprehensible actions by a funeral establishment. I have heard stories, and they may be true, but I can assure you that the vast majority of funeral homes (both corporate and independently owned) are run fairly and implement the highest of moral and ethical standards.
We all have our overhead and need to make a liveable income so each establishment has a set price for goods and services offered. I do suggest "shopping around" well ahead of time because we are all in the same line together, no one comes out alive, so to speak. Each funeral home will have a different price for services, embalming, cremation, caskets, etc. and however you add it up, the bottom line will be similar all around town, as long as you have selected the EXACT casket, services and other necessary items that you may select or be required to obtain. You see, there are thousands of caskets to chose from of all sorts of materials, colors, and "features" such as adjustable beds, memory drawers, changeable headpanels, and so on, and they come in prices from $500. to $25,000. I have a book with 28 caskets to chose from, they vary in material, color, options, and quality. I believe my offerings represent most, if not all, the types of caskets available. They range in price from $1095. to $10,695. with most between $2,000. and $3,000. If I do not have what the family wants whether it's price, color, etc. I will gladly show them more options until we find exactly what they want. I can get any casket the family wants and I can beat Costco's price if we are comparing apples to apples here. If I provide the casket I can promise perfect attention to detail and time constraints. The "outside" suppliers cannot. Why use an outside supplier of caskets in your hometown funeral home when you can get the same thing for the same price with guaranteed satisfaction from a guy who buys from your market, restuarant, tire shop, gas station and whose kids go to school with your kids, and whose family flys the same flag on the porch, etc. Get the picture?
RE: keeping you for 8 hours! Never, no way. I want to go home at 5 too. It takes 15 minutes to get the info REQUIRED for the permit and death certificate (i.e. address, career, etc.), and as much time as you NEED to make your own decisions on casket, services, etc. 2 hours MAX! We serve approx 210 families per year with respect.(3000 characters)

Joe of CA 8:27PM August 12, 2009

I own a few Funeral Homes. Have NEVER had a family for more than 3 hours for arrangements. Usually 1-2 hrs. Funeral Homes do not make very much money. Yes, the casket prices seem expensive because this is typically where we make our money. Take that away and we will just have to charge it somewhere else. Unless you want to run the funeral homes out of business and then take care of your families on your own, cut them some slack. We pay our employees 365 days per year, liability insurance, fees for the right to play music, vehicle insurance, mortgages, taxes, upkeep, energy fees etc. How much do you think furniture stores mark up their product? What about mechanics? Sure, you could by your car parts online and take them to your mechanic. He usually doubles the price of parts. This pays for his overhead. He makes money on the labor. So, sure, buy from Costco and pay more somwhere else or put your local FH out of business. It is easy to demonize funeral homes while trying to sell your own product. It is, however, fairly shameful.

California Director of CA 8:50PM July 18, 2009

Costco Sells Caskets?

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