Can my event planning company’s preferred vendor list be sold?
The list itself can be handed over, but the relationships behind it cannot be sold. Vendors choose whether to work with a new owner. Offer introductions, share what you know about each vendor’s reliability, and ask your lawyer whether any agreements or confidentiality terms limit what you can pass along.
A buyer who sees your vendor list sees a map of florists, caterers, rental companies and venues you trust. That is useful, but the value sits in the history behind each name: how reliably they deliver, how they treat clients and how they price for you. Be careful with pricing details. Vendors may have given you rates in confidence, and sharing them with a buyer before they are committed could damage the trust you spent years building.
Document that history. For each vendor, note what you use them for, how long you have worked together and anything a new planner should know. Be honest about weak points as well. A buyer who finds out later will remember it.
Check your agreements. Some vendors may have arrangements with you, such as referral fees, exclusivity or shared marketing. Ask your lawyer which of these can move to a buyer and which need the vendor’s consent. Then plan introductions. A joint call or an event where the buyer shadows you is more persuasive than a spreadsheet. Vendors who like the new owner will keep working with them, and those who do not will say so early, which lets you adjust before closing and plan your first month.
Key takeaways
- Share the list along with notes on how each vendor performs.
- Check referral or exclusive arrangements before passing names on.
- Introduce the buyer to key vendors in person.
Related reading
15 pages on the same subject, grouped by topic.
Buying
- Expert answerHow do I evaluate an event planning company’s vendor network before buying?
- Expert answerWhat happens to a catering company’s booked events when it is sold?
- Expert answerHow can I tell if a wedding planning business for sale is really profitable?
- Expert answerCan an event planning company run without its founder?
- Expert answerShould I buy an existing event planning business or start one?
- Expert answerWhat should I check before buying an event planning business?
- Expert answerWhat happens to booked weddings when a wedding photography business is sold?
Selling
- Expert answerHow do I hand over my banquet hall’s event team and preferred vendors?
- Expert answerHow do I show an event planning company’s pipeline of booked events?
- Expert answerHow do I prepare a wedding planning business for sale?
- Expert answerWhat portfolio materials should I prepare before selling my event planning company?
- Expert answerHow do I share my cheese shop’s tasting and pairing events with a buyer?
- Expert answerHow do I prepare my specialty grocery’s vendor list for a buyer?
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernment7 steps to increase your business’ value—before you sell it
- 02Business Development Bank of CanadaIndustryHow to sell your business
- 03Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
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