How do I review a web studio’s design and development tools and subscriptions?
Get a list of every tool and subscription the studio uses, with cost, renewal date, number of users and whose name is on each account. Then check which licences can transfer to a new owner, which are personal, and which clients are billed for.
Ask for the card statements and the accounting records, not only the studio’s own list. Subscriptions hide there, and some will be stale. Mark each as essential, useful or forgotten. A studio paying for tools nobody has opened in months is a small find that suggests how carefully money is watched.
Then check the terms. Some licences belong to a person, some to the company, and some are tied to a plan that cannot be moved. Ask your lawyer to read the important ones, particularly anything about transfer after a sale. Where a licence cannot move, ask what the replacement costs and how long switching takes, because projects may be built around a particular tool.
Next, see who is billed. Some tools are paid for by the studio and charged on to clients; others are paid directly by clients. Make sure client-owned accounts are not counted as the studio’s. Finally, check logins: shared passwords, former staff still listed, and projects stored in an individual’s account. A short list of who holds what will save time on the first day. Once you have the list, decide what you would keep, replace or drop. Some tools may be duplicates, and some may be habits of one designer. Knowing this before closing helps you plan the first months and budget sensibly.
Key takeaways
- Compare the studio’s tool list with card statements and accounting records.
- Find out which licences are personal, company-held or non-transferable.
- Separate tools billed to clients from those the studio pays for.
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Due diligence
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 02Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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