Why I partnered
Q & A with Wendy Kraft & Laura Sussman,
Kraft-Sussman Funeral & Cremation Services
Finding their calling to funeral service along different paths, together Licensed Funeral Directors Wendy Kraft and Laura Sussman created a funeral home where the primary goal is to serve the families of the deceased with support and compassion. For Wendy, it was a personal tragedy that inspired her to attend mortuary school and help others who have had loved ones die. For Laura, it was frustration with the status quo in Southern Nevada funeral service. They opened Kraft-Sussman Funeral & Cremation Service in Las Vegas in 2009 and became a cremation leader, delivering respectful dignified and compassionate care. In 2021, Wendy and Laura partnered with Foundation Partners Group to grow the business without the burdens and time commitment of ownership.
Why was it the right time to sell your business?
WENDY: Laura and I built this business from scratch so the thought of letting go was very scary. Like many funeral home owners, we always hoped that our daughters would take over the business when we were ready to step back. We tried everything to convince them to join us but after growing up in a family where their homelife could be interrupted by the next phone call, they decided this life was not for them. Once we accepted that a family succession plan was off the table, selling the business was our next best option. We talked with our colleagues and contacted a consulting firm but decided to put it on the back burner for a time. Then the pandemic hit and changed our thinking. It took a huge emotional toll, making us more aware of personal loss and that no one can do this forever.
LAURA: Approaching Medicare age was also a wakeup call. Working with a consultant, we looked at individuals as well as corporate options and weighed the pros and cons of each. We were lucky that so many firms were interested.
What were your top priorities when looking for a partner?
WENDY: We were looking for a partner who shared our philosophy of compassionate service and our commitment to the community; A partner who wanted to be here for the long term and one that wanted to keep us involved. We never wanted to walk away from the business.
LAURA: Keeping our culture in place was most important for me. We’ve invested a great deal in our community, which is rich and diverse, and we needed to know that commitment would be honored. We also wanted to take care of our staff and looked for a partner who would respect and value their service.
Why did you ultimately choose Foundation Partners Group?
WENDY: Frankly, I was surprised to find that there was a group that would honor our philosophies. We did what others did in the market, but we always felt we did it differently. Foundation Partners got that, and the transaction process was respectful and honorable.
LAURA: They were open to our concerns, cared about families and did what they said they would do. For Foundation Partners, it wasn’t just about the bottom line.
How was the transition process?
LAURA: My role has always been community ambassador so initially the adjustment was hard for me. I do not own the business anymore but knowing that we are still connected to the team, that our name is still on the door and that we could meet with anyone, talk with anyone at any time helped. I still feel a sense of pride and I am grateful that I can still be a part of this even in a small way.
How did your employees react to the sale?
LAURA: It was very hard to tell them. We brought our team together with Foundation Partners prior to sale to tell them about the changes. It was important to us that everyone was comfortable with the transition in ownership. Foundation Partners leadership was here to meet with our staff and take questions, and the transition team Foundation Partners sent to work with us every day was wonderful.
What advice would you give to an owner thinking of selling?
LAURA: I would tell business owners to take their time and not to rush into a transaction until they have all their ducks in a row – financially and emotionally. Reach out to people who have been through a sale and ask questions, especially who they sold to. That alone will give you a good indicator of who you might want to work with. For us, the process was faster and easier than I ever thought it could be.
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