How can a furniture store owner prepare a manager to take over the business?

Begin by finding the gaps. A good floor manager may know the customers and staff but have little contact with suppliers, credit terms or the numbers. List what you do that they do not, and set a plan to hand over one piece at a time, starting with the least risky.

Let them make the calls. Have them place orders, negotiate delivery windows, handle difficult customers and review the monthly statements with you. Watch how they cope, and give feedback. Introduce them to your key vendors and your banker so these relationships carry over.

Agree on the destination. Are they buying you out over time, managing for a new owner, or running it for family? Each path needs different documents and financing. Ask your lawyer and accountant to help set the arrangement out, and consider a written succession plan. Leave time to test it before you leave. Include the human side. Staff may be nervous or protective, and they often know the business as well as you. Ask the manager what they would change, what worries them, and what they need to feel ready. Their answers help you shape the plan and show whether they truly want the role.

Key takeaways

• List what only you do, then hand it over in stages.
• Let the manager decide, order and read the statements.
• Settle how ownership will pass before the handover begins.