How do I prepare my jewellery store’s vault and display cases for a handover?
Count and record everything in the vault and cases before a buyer sees them, separating your stock from repairs, consignment and customer items. Then plan a witnessed handover where access codes, keys and alarm arrangements change hands once, in writing, at a known time.
A buyer’s first real look at the business often happens at the vault door, so make it orderly. Do a full count with a second person present, record weights and descriptions, and tag every piece. Put customer repairs, consigned pieces and your own stock into clearly labelled groups. Any piece that is not yours should have paperwork showing whose it is and when it is due back.
Display cases deserve the same discipline. Photograph each case as it stands, note which fixtures belong to the store and which are leased or owned by a vendor, and tidy the layout so it reads clearly. Make sure the case locks work and the keys are accounted for. Missing keys are a small thing that makes a buyer suspicious.
Plan the handover itself. Decide who will be present, who changes the combinations and codes, and when the alarm company is told. Arrange insurance so there is no gap between your cover ending and theirs beginning. Keep a signed count sheet from both sides. It is the best protection you have if a question about missing items comes up later, and it saves both of you from a long argument.
Key takeaways
- Complete a witnessed, itemized count and photograph every case.
- Label customer, consigned and owned pieces separately, with paperwork.
- Change codes, keys and alarm access once, in writing, at a set time.
- Keep the signed count sheet; it protects both sides afterward.
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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 CanadaIndustryHow to sell your business
- 03Business Development Bank of CanadaGovernmentUnderstanding the options for selling your business
- 04Canadian Federation of Independent BusinessResearch dataSuccession Tsunami: Preparing for a decade of small business transitions
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