How do I prepare a furniture store’s supplier relationships for a handover to a new owner?

Furniture stores often rely on a handful of makers and distributors, and much of the relationship lives in the owner’s head. Build a simple supplier file for each one: contact names, order habits, lead times, how damaged or late goods are handled, and any special arrangements about display pieces or freight. Include unwritten habits, such as who is called when a container is delayed.

Next, find out which relationships depend on you personally. A maker who ships first to your store because of a long friendship needs a warm introduction. A supplier with a written agreement may need to approve the change of owner, so have your lawyer read the terms and tell you what a sale triggers.

Decide with the buyer when each supplier is told, and by whom. A joint call or visit works better than a letter. Offer to stay on for a transition period, and list open orders, deposits and credits so nothing is dropped at closing. Expect buyers to ask for these files during their checks, so organize them early.

Key takeaways

• Write a supplier file for each maker, including habits that were never put on paper.
• Ask your lawyer whether any supplier agreement needs approval when ownership changes.
• Introduce key suppliers in person before closing and list open orders and credits.
• Offer a transition period so suppliers can see you are backing the new owner.