How do I split handyman clients between myself and my partner when I retire?

Start with the facts. List the clients, who handles each one, how much work they give and how they feel about each partner. Some clients are loyal to one person and will follow them. Others care only about the service. Do this early, since it shapes everything that follows.

Next, choose a fair method. If you keep the clients with the business, the retiring partner may want payment for their share. If you divide the list, make sure both sides understand whether the retiree may keep working for those clients. Your lawyer can explain how to document this, and your accountant can explain how a payout might be set up. If a client is close to one partner, ask that partner to make the introduction, and let the clients decide whether to stay.

Consider the cash needs. A buyout may require financing or a payment over time, so check whether the business can afford it. Finally, handle the communication with care. Tell important clients personally, ideally with both partners present. A clear, kind message avoids confusion and keeps the work from drifting away. Allow time for questions from clients, and be ready to adjust the plan if a major client objects.

Key takeaways

• List every client and how closely each is tied to either partner.
• Pick one fair method and write it down before telling clients.
• Tell key clients together, in person where possible.
• Check whether the business can afford any payout to the retiree.