Why I partnered
Q&A with Jim Letson, Beck’s Tribute Center
During a career that spans more than 50 years, Jim Letson has mastered virtually every job the funeral profession has to offer. From apprentice in his future-wife’s family business to funeral director, and location manager to chief operating officer, Jim’s operational, family service and financial management experience make him one of the best in the business. By the time he bought Beck’s Tribute Center in Edmonds, Washington in 2006, he had already been involved in several funeral home transactions. When he took over the reins at Beck’s, he promised himself that when he entered his 70th year, he would get his house in order and execute a solid succession plan. Jim cemented a partnership with Foundation Partners Group in late 2021 and, although he continues to serve as a Beck’s brand ambassador, he now is enjoying retirement.
What was most important to you when looking for a partner?
First and foremost, I wanted to hand-off something that I was proud of. I made sure my balance sheet was in order, my outstanding obligations were fulfilled, and my facilities were turnkey. I also wanted a firm that would take good care of my people. I was very fortunate to have a great team supporting me and I wanted to secure their future. Finally, I looked for a company that made sense based on their strategic presence in the market.
What impressed you about Foundation Partners Group?
Washington State is a very strong, rapidly evolving cremation market and Foundation Partners has a strong commitment to cremation. The Foundation Partners team embraces innovation and strives to deliver what today’s families value. They are not afraid to be creative and I don’t see other companies doing that. I was extremely impressed with Foundation Partners’ bright and capable people. They are down-to-earth, straight up folks who have their hearts in the right place. I spoke to several former owners and was impressed with what they said about the way Foundation Partners treated their people. It’s comforting to know that my people are in good hands.
How was the integration process?
The sale and integration processes were incredibly easy compared to the sale of my wife’s family business in 1995. It’s really been remarkable to see how technology like Zoom meetings and digital file have streamlined the process of exchanging information and answering questions. But it was their people who really made the integration process go so well. I was very impressed with their approach; they talked with my employees one-on-one and held our hands through the process of change. They were very open about the fact that some weeks would be tough, but they assured my team that we would get through it, and they would be here to help us. And indeed, they did!
What advice would you give to other owners thinking of transitioning their businesses?
I would tell other funeral home owners to keep an open mind to selling to a company like Foundation Partners. Even if they don’t think they are ready to sell tomorrow, they need to begin exploring their options. There’s nothing wrong with reaching out to Foundation Partners to talk. They don’t have to say yes, but they might be surprised how much better their lives could be as part of Foundation Partners or in retirement.
Contact Us
If you’re thinking about succession planning, now is the perfect time to arrange a complementary, confidential financial analysis with Foundation Partners.
Foundation Partners Group
369 N. New York Avenue
Winter Park, FL 32789
For general inquiries, please call:
Phone: (888) 788-7526
Fax: (407) 583-4735