Professional Documents
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Project On Carriage Services Expansion in India Group
Project On Carriage Services Expansion in India Group
India
Submitted to
Kazi Subrina Ehsan
Lecturer
Southeast University
Submitted By
Group-1
SL Name ID
1 Mir Hasibul Karim 2023110005010
2 Mahmud Sorwar 2023110005003
3 Sarmi Chanda 2023110005012
4 Sakib Hossain 2023110005008
5 Nusrat Jahan Jui 2023110005009
Letter of Transmittal
Dear Madam,
It is an enormous pleasure to submit our final report on “Project Submission on Carriage Services
expansion in India”.
In preparing this project we followed your instructions. We believe that we could meet the
objectives of the report and we hope that it will find your acceptance.
We gladly certify that we are responsible for the preparation and content of the whole project.
Regards,
Mir Hasibul Karim – 2023110005010
Mahmud Sorwar – 2023110005003
Sharmi Chanda – 2023110005012
Sakib Hossain – 2023110005008
Nusrat Jahan Jui – 2023110005009
i
Acknowledgement
At the beginning, we would like to express our deepest gratitude to the almighty Allah for giving
us the ability and strength to finish the task successfully within the scheduled time.
After that, we would like to express our special thanks of gratitude to our teacher and project
supervisor Kazi Subrina Ehsan for providing invaluable guidance throughout this project. Thanks
for giving us the golden opportunity to do this wonderful project on the topic ‘Carriage Services
expansion in India’, which also helped us in doing a lot of research and we came to know about
so many new things. We cannot just express our feelings and gratitude for him the way we
actually feel. She helped us in every possible way when we were in danger and taught us the real
meaning of group work. It was a great privilege and honor for us to work and study under his
guidance.
Furthermore, we would also like to thank all the course mates who helped us a lot in finalizing
this project within the limited time frame. We would like to extend our thanks to the Management
Department of Southeast University.
Finally, our thanks go to all the people who have supported us to complete the project work
directly or indirectly.
ii
Executive Summary
This project was conducted to study the feasibility of expanding the business of Carriage Services
in a non-English spoken country. Based on this the team conducted thorough research on India.
Carriage services is one of the leading death care services provide in the USA. With a mission to
provide the best service, consolidate the industry, and create value for its partners, Carriage
Services has expanded rapidly, now operating 171 funeral homes and 32 cemeteries in 26 states.
Its primary services include funeral home operations and cemetery operations.
For studying the feasibility of expanding its business in India, below listed points were studied-
• Geography
• Demography
• Economy
• Verbal and non-verbal communication culture
• Funeral industry in India
• Possibilities and challenges in Indian funeral industry
The study shows the diversity in India’s geographic, and demographic features. It analyses the
economic condition of India, and the USA India trade relationship.
It also compared the cultural differences and similarities between India and the USA. And this is
the most important part of the study.
The study of the Indian funeral industry shows the growth, current situation, reasons of the
growth in the industry as well as the problems that the industry is facing.
This study strongly suggests that Carriage Services can consider India to expand their business
internationally.
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Table of Contents
Letter of Transmittal ....................................................................................................................................... i
Acknowledgement ........................................................................................................................................ ii
Executive Summary ...................................................................................................................................... iii
1 Introduction ............................................................................................................................................... 1
1.1 Objective of the study .................................................................................................................. 1
1.2 Methodology of the study ........................................................................................................... 1
1.3 Limitations of the study ............................................................................................................... 1
2 Company Overview ................................................................................................................................... 2
2.1 About Carriage Services ..................................................................................................................... 2
2.2 Mission................................................................................................................................................ 2
2.3 Area of Operations ............................................................................................................................. 2
2.4 SWOT Analysis .................................................................................................................................... 3
2.4.1 Strength ....................................................................................................................................... 3
2.4.2 Weakness ..................................................................................................................................... 3
2.4.3 Opportunity ................................................................................................................................. 3
2.4.4 Threat........................................................................................................................................... 3
3 Overview of Funeral Industry in USA ........................................................................................................ 4
4 India at a glace ........................................................................................................................................... 5
4.1 Geography of India ............................................................................................................................. 5
4.1.1 Climate ......................................................................................................................................... 5
4.1.2 Seasons ........................................................................................................................................ 5
4.1.3 States and cities ........................................................................................................................... 5
4.2 Demography of India .......................................................................................................................... 5
4.2.1 Population ................................................................................................................................... 5
4.2.2 Age ............................................................................................................................................... 5
4.2.3 Religion ........................................................................................................................................ 6
4.2.4 Language ...................................................................................................................................... 6
4.3 Economy ............................................................................................................................................. 6
4.3.1 Foreign Direct Investment ........................................................................................................... 6
4.3.2 US-India Business Relationship ................................................................................................... 6
5 Cultural Comparison: India vs USA ........................................................................................................... 7
5.1 Verbal Communication ....................................................................................................................... 7
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5.1.1 Communication style .................................................................................................................. 7
5.1.2 Greeting and title ........................................................................................................................ 7
5.1.3 Hierarchy...................................................................................................................................... 8
5.1.4 Negotiation .................................................................................................................................. 8
5.1.5 Refusal ......................................................................................................................................... 8
5.1.6 Silence .......................................................................................................................................... 9
5.1.7 Small Talk ..................................................................................................................................... 9
5.2 Nonverbal communication ........................................................................................................... 9
5.2.1 Perception of Time ...................................................................................................................... 9
5.2.2 Sharing Business Card ................................................................................................................. 9
5.2.3 Physical Contact......................................................................................................................... 10
5.3.4 Personal Space........................................................................................................................... 10
5.3.5 Eye Contact ................................................................................................................................ 10
5.3.6 Head Tilt..................................................................................................................................... 10
5.3.7 Showing Feet ............................................................................................................................. 10
5.3.8 Use of left hand ......................................................................................................................... 10
5.3.9 Gesture ...................................................................................................................................... 10
6 Overview of Funeral industry in India .................................................................................................... 11
6.1 Major players .................................................................................................................................... 11
6.1.1 Vincent Parker ........................................................................................................................... 11
6.1.2 Mokshshil .................................................................................................................................. 12
6.1.3 Shradhanjali.com ....................................................................................................................... 12
6.1.4 Last Journey ............................................................................................................................... 12
6.1.5 Antheysti.................................................................................................................................... 13
6.2 Reasons of Growing funeral service in India ................................................................................... 13
6.3 Future of Funeral Industry in India .................................................................................................. 13
6.4 Challenges in death care industry in India....................................................................................... 14
7 Conclusion and Recommendation .......................................................................................................... 15
References ................................................................................................................................................... 16
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1 Introduction
1.1 Objective of the study
To study the feasibility expanding the business of Carriage Services in India.
• Lack of information.
• Lack of time.
1
2 Company Overview
2.1 About Carriage Services
Carriage Services is a provider of death care services, was founded in 1991 in Houston in Texas
city, in the United States. It is one of the best funeral and cemetery service providers in the USA.
Carriages Services, Inc. is the fastest-growing funeral and cemetery service company in the
United States. They've been expanding by buying local funeral homes and cemeteries. In 1997,
they partnered with 10 business in Texas and California. In 1998 they got listed in New York
Stock Exchange. They continued to grow with 7 more partnership in Texas and California. They
expanded their serviced in New York, and Virginia in 2019. Now Carriage Services is operating
171 funeral homes, 32 cemeteries in 26 states.
2.2 Mission
The mission of Carriage Services is to be the best. The best service provider, the best
consolidator, and the best value creator for the partners.
• Funeral Home Operations: This part focuses on providing burial and cremation services
and related items like caskets and urns. They offer these services for immediate needs
when someone has passed away or for planned arrangements made before the time of
need.
• Cemetery Operations: This segment deals with selling cemetery interment rights, which
includes grave sites, lawn crypts, mausoleum spaces, and niches. They also provide
related cemetery products like memorial markers, burial containers, and monuments.
Additionally, they offer services such as interments (burials), inurnments (placing ashes
in urns), and installing cemetery merchandise.
Most of the revenue of Carriage Services is generated from funeral home operation. The below
chart shows that 70% of the profit comes from this operation. And they generate 30% of the
revenue from the cemetery operations.
2
Revenue
30%
Funeral Home
Cemetery
70%
3
3 Overview of Funeral Industry in USA
Funeral market in USA is around just over $19 million annually in 2022. Around 2.4 million
funerals take place each year. The value is expected to grow to worth $19.5 million in 2023.
The growth of traditional funeral homes is declining. The cremation rate is increasing and
overtaking the casket burial rate in the USA. Rising inflation, and declining religion are
responsible for this shift.
In the years 2020–2021, the COVID pandemic caused 3.4 million deaths and a record-high
number of cremations. In addition to the pandemic's consequences, macroeconomic concerns
have caused families to cut back on burial expenses. Many loved ones have chosen cremation as
a funeral cost-saving measure since it is less expensive than a conventional burial. Cost of
cremation is 40% lower than the traditional burial.
Cremation was chosen by 59.3% of Americans in 2022, an exponential rise across all states. By
2040, it's expected that more than 80% of Americans will be cremated. The prices for services
have risen as follows:
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4 India at a glace
4.1 Geography of India
With 3.287 million square kilometers of territory, India is the seventh-largest country in the
world. From east to west, it is 2,933 kilometers long, and from north to south, it is 3,214
kilometers. India is situated within the continent of Asia, and the majority of its landmass takes
the form of a peninsula, implying that it is bordered by water on three sides.
India has neighboring countries with which it shares its borders. These countries include
Pakistan to the northwest, China to the north, Nepal to the north, Bhutan to the north,
Bangladesh to the north, west, and east, Myanmar to the northeast, Sri Lanka and the Maldives
in the Indian Ocean. These international boundaries have significance in terms of trade,
diplomacy, and India's geopolitical l
The Himalayas, Hindu Kush, and x, as well as the Karakoram, which is located in the disputed
territory of Jammu and Kashmir and includes K2, the second-highest peak in the world, make up
an arc of mountain ranges that define the north of India.
4.1.1 Climate
India has different types of weather because it's a very big country. In the west, there are
deserts, and in the far north, there are very cold areas with snow and ice. The Himalaya
mountains in the north keep the cold wind away, so it's not too cold in the winter and not too
hot in the summer. In the southwest and on some islands, there are dense forests with lots of
rain, so the southern parts of India stay humid and wet all year.
4.1.2 Seasons
Winter (January to February), summer (March to May), monsoon season (June to September),
and post monsoon period (October to December) are the four distinct seasons recognized in the
nation. Summertime temperatures in several urban areas of India can reach 45°C.
4.1.3 States and cities
There are 29 states and 7 union territories in India. New Delhi is the nation's capital, while other
important commercial hubs include Bangalore (formally known as Bengaluru), Mumbai, Pune,
and Hyderabad.
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population is aged between 0 and 14 years, 18 percent are between 10 and 19 years old, 26
percent fall in the age group of 10 to 24 years, and 7 percent are 65 years and above. The
median age in India is 28.2. People in India have an average life expectancy of 72 years.
4.2.3 Religion
Many Indians' cultural views and customs are influenced by their religion. The four major
religions of Hinduism, Buddhism, Jainism, and Sikhism all originated in India. India has a
population of almost 1.03 billion people, or 80% Hindus, and a little less than 15% Muslims,
making it the country with the third-largest Muslim population in the world. More than any
other nation, India has 300,000 functioning mosques.
Many people in India, regardless of their religious beliefs, hold cows in high regard, which is a
principle closely associated with Hinduism. They actively prohibit the killing of cows in many
areas and have banned the consumption of beef in some regions due to their sacred status in
Hinduism. However, in Goa, some minority groups have begun to import and consume beef due
to food shortages caused by drought. You can frequently spot cows roaming the streets in major
Indian cities like Mumbai and New Delhi. It's important to note that hitting a cow with your
vehicle is considered a serious offense.
Jews and Christians have continuously resided in India since around 200 BCE for Jews and 52 CE
for Christians. People in India still practice both Judaism and Christianity today. The city of Kochi
in Kerala is home to the oldest European church and synagogue in India, both dating back to the
1500s. One can observe churches, mosques, and temples coexisting side by side on many
streets in this area
4.2.4 Language
According to the Census of India of 2001, India has 122 major languages and 1599 other
languages. Hindi is one of the most widely spoken languages in India and serves as the official
language of the Indian government. English is the second official language in India.
4.3 Economy
the world's fifth-largest economy in terms nominal GDP ($3.74 trillion), and the third-largest
based on GDP PPP ($13.03 trillion). Currency of India is Indian Rupee. The current exchange rate
is Rs. 83.33 against USD 1. Fiscal year starts at 1st April, and end at 31st March.
4.3.1 Foreign Direct Investment
In 2022, India's top trading partners were the United States, China, UAE, Saudi Arabia, Russia,
Germany, Hong Kong, Indonesia, South Korea, and Malaysia. In the year 2021-22, India got $82
billion in foreign investment. Most of this money went into services, computers, and telecom.
4.3.2 US-India Business Relationship
The United States is a significant partner for India in various ways. It's the third-largest source of
foreign direct investment (FDI) for India, the largest trading partner, and the biggest destination
6
for Indian services exports. In the fiscal year 2022-23, the trade between India and the US
increased by 7.65%, reaching $128.55 billion compared to $119.5 billion in 2021-22.
The collaboration between the United States and India is extensive and covers various sectors,
including trade, investment, security, defense, education, science, technology, cybersecurity,
high-tech industries, civil nuclear energy, clean energy, environment, agriculture, and health.
In the fiscal year 2023, India sent 7,758 different products to the United States. India's exports
to the US grew from $76.17 billion in the previous fiscal year to $78.54 billion in FY23.
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5.1.3 Hierarchy
Communication patterns are frequently influenced by the social hierarchy in Indian society in a
variety of contexts. There is a strong emphasis on showing respect and regard to elders both
inside and beyond the home. One example of this is being tactful while turning down requests
or disagreeing with their viewpoint. Compared to past generations, younger Indians are less
concerned with decorum, although they nevertheless follow numerous customs and traditions,
especially when they are around superiors or elderly people.
In business decisions are handled by senior management or individuals in higher positions of
authority.
On the other hand, In the United States, the work culture is strongly tied to the idea of
meritocracy. People are acknowledged and rewarded based on their performance and skills.
Values such as diligence, dedication, and achieving results are held in high regard. Promotions
and career progress often depend on an individual's achievements, abilities, and contributions.
This emphasis on meritocracy serves as a motivation for employees to consistently enhance
their performance and succeed in their positions.
5.1.4 Negotiation
In India, the main goal of negotiation is to establish trust between the parties so that they can
work together to reach a win-win solution while fostering long-lasting relationships. U.S.
negotiators have a distinctive style: forceful, explicit, legalistic, urgent, and results-oriented. The
pace of negotiation is slower that that in the USA.
Indians generally think in terms of whole and long term. On the other hand, Americans think
individually, and wants to discuss one topic at a time before talking about others. Indians tend
to discuss various issues of a deal all at once.
Positive indicators of a successful negotiation include-
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5.1.6 Silence
Instead of saying "no" outright, Indian people will occasionally remain silent. As a result, it is a
good idea to pay attention to what is not said because silence can be interpreted as
disagreement.
On the other hand, Americans usually don't like long periods of silence and may talk to avoid it.
5.1.7 Small Talk
Indians frequently inquire about income, children, or future plans for a family. By comparison to
Westerners, this is a very typical query. Indians want to establish a personal relationship first.
In contrast, Americans generally do not appreciate questions about their salary, wealth or how
much things cost. This is seen as an invasion of privacy and very rude.
One should try to establish a bond with your Indian counterpart and write it down so one can
recall it. If your contact has a child or grandchild, for instance, keep the youngster's name in
mind and check in on him or her regularly.
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5.2.3 Physical Contact
Indians like to avoid physical contact wherever possible, but if it helps them communicate, they
will touch a person's arm or hand if they are of the same gender. For the most part of India,
there is very little physical contact between the sexes. Hugging, kissing, and holding hands, for
instance, are not usual.
In the United States, people usually feel okay with hugging and physical affection when they're
with friends and family. It's normal for both men and women to hug, for example, in relaxed
situations. But most folks prefer not to touch or hug people they don't know well, especially at
work.
5.3.4 Personal Space
Indians typically maintain an arm's length distance when speaking to one another and respect
each other's personal space.
Similarly In American culture, individuals commonly value personal space, and this is evident in
their tendency to maintain a reasonable distance from others. For instance, when using public
transportation, Americans often opt to keep a vacant seat or some space between themselves
and fellow passengers.
5.3.5 Eye Contact
Indians, in general, tend to avoid or maintain little eye contact with people of the opposing
gender and those who are higher in rank than they are.
In American culture, it is common for individuals to uphold direct eye contact while
communicating, which conveys feelings of warmth, transparency, integrity, and approachability.
5.3.6 Head Tilt
To express agreement and understanding, people may shake their heads from side to side or tilt
their heads to one side. This head movement is comparable to the Americans "I don't know"
gesture, which also involves shrugging one's shoulders and tilting one's head to the side.
5.3.7 Showing Feet
It is considered impolite to show one's feet or touch others with them because they are deemed
to be the dirtiest part of the body.
5.3.8 Use of left hand
Don't use your left hand. The hand is regarded as being "unclean". It is offensive to accept
things with the left hand and to eat with it.
5.3.9 Gesture
It could be disrespectful to point at someone with finger both in India and the USA. One should
avoid pointing, and if one must, always should use an open palm facing upward or a closed fist
while pointing with the thumb.
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6 Overview of Funeral industry in India
Death is something we can't avoid, and losing someone is really hard. When it happens in a
family, it's tough to handle the sadness. Getting things ready for the funeral can be difficult.
Instead of saying goodbye to the person, we end up busy with the funeral plans.
With the recent advancements in technology and the availability of affordable internet access, it
has given rise to numerous online businesses, and the funeral industry is no exception to this
trend. Funeral homes have ventured into the digital realm through online obituary houses and
funeral e-commerce. In the Indian context, there have been startup companies that offer
funeral management services. Many traditional funeral service providers in various regions of
the country have also started offering their services through e-commerce platforms. Today,
there are a few startups that offer a range of funeral-related services and post-ceremony
support, irrespective of caste or community. These services not only assist with the funeral
arrangements but also help inform other family members, relatives, and friends so they can pay
their respects to the deceased.
At present, the death care industry in India is valued at slightly over USD 3.5 billion, a significant
increase from its worth of USD 0.98 billion in 2008. This clear upward trend indicates that
India's death care industry is experiencing substantial growth and is expected to continue
expanding in the years to come.
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• Extending services for erecting monuments and tombstones
6.1.2 Mokshshil
This is a startup based in Ahmedabad, established in 2015 by its founders Bilva Desai and
Abhijeet Singh. Their services encompass the entire spectrum of funeral arrangements and are
inclusive to people of all faiths and backgrounds. Their services are currently available within
the Ahmedabad area exclusively.
Mokshili offers a range of services:
• They provide guidance to families, assisting them in decision-making, and offering advice
and information regarding funeral arrangements.
• They feature 'Mokshanjali,' a platform where family members can pay tribute using
pictures, videos, and more.
• There's also 'Prebook,' enabling individuals to make advance bookings to better manage
associated costs.
• Mokshili handles the documentation process, transports the deceased from the hospital
or home to the vehicles, and arranges for priests, flowers, and bhajan mandli.
• Additionally, they offer repatriation services to ensure proper paperwork and the
dignified transportation of the deceased.
6.1.3 Shradhanjali.com
Shradhanjali.com is a startup headquartered in Rajkot. It was co-founded by Vivek Vyas and
Vimal Popat in 2011, with the concept materializing in 2013. To create a profile in memory of a
loved one on this website one need to pay, a fee of Rs. 399 yearly or Rs. 3999 for five years..
Shradhanjali.com provides the following services:
• Its primary feature enables individuals to create a dedicated page for their departed
loved ones, where they can share memories through pictures and videos. Relatives and
friends can express their condolences and leave messages on these posts.
• The platform supports various regional languages and allows users to incorporate
background religious music.
• Users have the option to set reminders for death anniversaries or birthdays through
email notifications for friends and family.
6.1.4 Last Journey
Established in 2019 by Rishabh Jalan and Vikas Gutgutia, Last Journey has set its sights on
transforming the landscape of funeral care in India through its innovative approach. With a
commitment to providing an extensive array of services and placing a strong emphasis on
compassion and support, Last Journey aspires to emerge as the foremost funeral services
provider in the nation.
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They provide below services-
• Transportation
• Funeral box
• Post cremation burial
• Freezer box services
• Prayer halls for funeral
• Arrange artists
• Pet cremation
6.1.5 Antheysti
Antheysti is an organization based in Kolkata, founded in 2016 by Shruthi Reddy. It serves as a
comprehensive funeral services provider, catering to nearly all religions. In a bid to extend their
reach, Antheysti has also begun implementing a franchise model in cities such as Delhi,
Mumbai, and Bangalore.
Antheysti offers the following services:
• People are planning their funerals in advance to save money. This is especially noticeable
among individuals who live alone or don't have children.
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• It's been noticed that when someone passes away in countries like the US or Europe, the
cost of bringing their remains back to India can be quite high. To avoid these expenses,
their families sometimes choose to have the funeral or cremation in India.
• With the population growing rapidly and limited space for traditional burials, especially
in cities, grave sites are becoming increasingly scarce. As a result, the role of funeral
service providers is becoming more crucial.
• Work life Balance: The job demands are round-the-clock, and it's not just a job; it's
essentially a service to humanity. As a result, it's challenging to decline tasks or calls.
Balancing work with family and social life can be quite difficult.
• Staffing: Not many people are eager to join or work in this industry, and it's tough to
motivate them to do so.
• Marketing: The main challenge in this industry is that its services cannot be marketed
directly. Because death is a sensitive and ethical matter, promoting the death care
industry may not be well-received in society. Organizations are left with no choice but to
rely on indirect marketing through personal contacts or various groups and
communities.
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7 Conclusion and Recommendation
India is one of the fastest growing economies in the world and with having one sixth of the total
world’s population. Cultural, demographical, and geographical diversity has brought this country
in the front for considering global expansion. Also, there is a strong business relationship
between India and the USA.
In today's fast-paced world, many people are extremely busy due to work and economic
demands. They often find it challenging to make arrangements for or attend funerals. In such a
situation, there seems to be a significant opportunity for businesses that specialize in managing
funeral ceremonies. These funeral service providers handle all the necessary arrangements for
the final rituals, allowing busy individuals to focus on other responsibilities.
Also, there is no GST (Goods and Service Tax) on funeral, burial, crematorium or mortuary
services in India. It attracts investors in this industry.
Considering all the facts, India can be considered by Carriage Services to enter and expand its
business. As there are some well-established after death service providers, merger and
acquisition can be the best entry strategy.
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References
(n.d.). Retrieved from Carriage Services: https://www.carriageservices.com/
Jalan, R. (2022, July 6). India’s death care industry: An overview. Retrieved from The Times of India:
https://timesofindia.indiatimes.com/blogs/voices/indias-death-care-industry-an-overview/
Jalan, R. (2023, February 16). The Rise Of Private Entities In India's Funeral Services Space. Retrieved from
Entrepreneur: https://www.entrepreneur.com/en-in/news-and-trends/the-rise-of-private-
entities-in-indias-funeral-
services/445838#:~:text=Currently%2C%20the%20industry%20stands%20at,grow%20in%20the
%20coming%20years.
Marsden-Ille, S. (2023, March 22). The US Funeral Industry Today. Retrieved from US Funerals Online:
https://www.us-funerals.com/the-us-funeral-industry-today/
Services you can trust. (n.d.). Retrieved from Last Journey: https://www.lastjourney.in/
Sharma, M. (n.d.). Startups breathe life into India's funeral services. Retrieved from The Economic Times:
https://economictimes.indiatimes.com/small-biz/startups/startups-breathe-life-into-indias-
funeral-services/articleshow/57866794.cms?from=mdr
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