It might not be for everyone, but working in the funeral service can be a profitable career move. A non-managerial employee can earn around $57,580 per year with an associate’s degree, according to the U.S. Bureau of Labor Statistics.
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That number certainly jumps for funeral service managers, who have a median annual wage of $79,180. Morticians, undertakers and funeral directors, on the other hand, have a median annual wage of $52,650.
Embalmers tend to be on the lower end of the pay scale with a median annual wage of $45,060.
The Bureau of Labor Statistics doesn’t differentiate between wages for executive management and funeral home owners, but it’s not hard to fathom that the latter would make the most in the pyramid. Top-earning owners are said to make over $92,000, according to Career Trend.
To start your own funeral home, you’ll need between $150,000 and $300,000 to open a small-scale and intimate mortuary, according to Small Business Chron. Creating your own large-scale franchise could cost upward of $2 million if you are starting out with multiple locations right off the bat.
If the outright costs associated with owning a funeral home are bit much, there are opportunities to franchise with an already established company such as SereniCare and Legacy Center and Cosmopolitan. The average cost to become a franchisee is $20,000, according to Small Business Chron.
Working in funeral service is generally an on-call profession with long hours, especially during evenings and weekends, according to the Bureau of Labor Statistics. Employment in this industry is expected to grow four percent by 2028.