Fortune Small Business magazine has named StoneMor, which operates 235 cemeteries and 59 funeral homes, to its list of the country's top small businesses. StoneMor is No. 54 on the list of 100. And according to StoneMor President and CEO Lawrence Miller, despite the economy, people are not only continuing to preplan but also to prepay for cemetery property.
In an interview with CNNmoney online, Miller says that one of the benefits of the cemetery business is that it's stable and predictable, not recession-proof but recession-resistant. He goes on to say:
"Where a mortgage company might tell you that their delinquencies are increasing, we have approximately $100,000,000 of installment accounts receivable. These are receivables for people that are living that are not going to need our merchandise or services for 10-15-20 years, and they’re making their payments faithfully, on time, because they want to be sure that it’s all taken care of."
To watch Miller's interview, "Burial biz stays alive," (did you really expect a headline without a death pun?) go to
The entire list of 100 companies can be seen at
From a StoneMor press release: "We are delighted that StoneMor has been recognized as one of the Fortune Small Business 100 fastest growing small public companies," said Lawrence Miller, president and chief executive officer. "Companies that made the list were recognized for their three year annualized rates of revenue growth, EPS growth and total return to shareholders. To be among the top companies in these criteria is a strong validation of our business strategy and a credit to our employees who have worked so hard to execute it. Having done so during a very tumultuous economic environment is particularly gratifying," added Miller.