How do I pass on the creator relationships behind my template business?
Introduce each creator personally before closing, explain what the buyer plans, and let both sides ask questions. Put every working arrangement in writing, because a friendly handshake does not move to a new owner on its own. Do not promise anything on the buyer’s behalf.
Begin with a simple map of who supplies what. For each creator, note what they make, how they are paid, how long you have worked together, and how much of your catalogue depends on them. This map helps you decide whom to introduce first and shows the buyer where the business is most exposed. Ask each creator, gently, what they would need to feel confident working with a new owner, and let the buyer hear that directly.
Speak to key creators before the sale becomes public, if the buyer agrees. Many will want to know whether their work will be credited, whether payment terms will hold, and whether the new owner will keep the same style. Let the buyer answer those questions directly rather than passing messages along. Be clear about any creator who is also a friend, because personal loyalty to you may not carry across to a stranger.
Then paper the arrangements. If a creator has only worked on a casual basis, ask your lawyer how to record that they agree to continue, and who owns what they have already made. A short, clear agreement gives both sides comfort. Finally, stay available for a while. A warm introduction from you, followed by a few joint conversations, often decides whether a creator stays.
Key takeaways
- Map each creator, what they make and how much depends on them.
- Let the buyer speak to key creators directly before closing.
- Put payment and ownership terms in writing with your lawyer’s help.
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Sources
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- 01Business Development Bank of CanadaGovernmentWhat is succession planning?
- 02Business Development Bank of CanadaGovernmentAdvice for succession planning - Articles and tools
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