How do I show a buyer my school bus company’s relationship with the school board?
Put the relationship in writing before you talk to buyers: the current contract, its dates, the history of renewals, and the names of the people you deal with. Then plan an introduction, with the board’s agreement, so the buyer meets them before closing, not after.
Gather the paper first. Collect the current contract, past versions, any amendments, and the letters or emails that show how problems were handled. Add a one-page history: how long you have served the board, how often routes changed, what complaints came in and how you resolved them. Honest detail builds trust faster than a polished summary.
Next, think about the people. Note who signs, who manages transportation day to day and who hears the complaints. Ask your lawyer whether the contract lets you transfer it, and whether the board must approve the new owner. Do not promise a buyer that the contract will move across until you know the answer.
Last, plan the handover. Ask the board how they want a change of ownership explained, and offer a joint meeting once the buyer is serious. Keep promising nothing you do not control. Tell buyers about weak spots, such as an upcoming renewal, and explain how you would deal with them. Staying on for a transition period often reassures the board and the buyer alike.
Key takeaways
- Document the contract, its history and the contacts before the first buyer call.
- Ask your lawyer whether and how the contract can be transferred.
- Introduce the buyer to the board only with the board’s agreement.
- Tell buyers about weak spots, such as a coming renewal, and how you would handle them.
Related reading
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Buying
Due diligence
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernment7 steps to increase your business’ value—before you sell it
- 02Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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