How do I make my test prep centre’s tutor contracts easy for a buyer to read?
Put every tutor agreement in one folder, then add a one-page summary table. Show each tutor’s role, pay arrangement, notice terms and any limits on working elsewhere. A buyer reads faster when the facts sit in one place. Keep the summary short and honest.
Collect first, polish later. Find every signed agreement, including old versions and any email that changed the terms. Missing signatures and unsigned amendments are the gaps a buyer notices first, so fix what you can before the review starts.
Then build the summary. Use a simple table with one row per tutor. Include the date the agreement began, whether the person is treated as an employee or a contractor, how they are paid, what notice either side must give, and whether anything restricts them from taking students elsewhere. Add a column that notes whether the agreement can pass to a new owner. Number the files so the table can point to each original, and keep a short list of open questions at the top. A buyer who can find any page in seconds spends less time worrying about what is missing.
Keep your own wording plain. Do not summarize in a way that softens a difficult clause. A buyer’s lawyer will read the originals, and a mismatch costs trust. Last, flag the unusual. Special pay deals, informal promises and verbal arrangements should be listed openly, with a note on what was agreed. Ask your lawyer to check the table before you share it.
Key takeaways
- Gather every signed agreement and any later change into a single folder.
- Build a one-page table with one row per tutor.
- List informal or verbal arrangements openly instead of hoping they go unnoticed.
- Number the files so each table row points straight to its original.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 03Business Development Bank of CanadaIndustryHow to sell your business
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