How do I transfer a garage door company’s builder and dealer relationships?

Relationships like these are often personal, so begin by making them visible. For each builder or dealer, write down how long you have worked together, what you supply, how pricing is set and how disputes have been settled. Note which accounts bring steady volume and which depend on a single project or a single person at the other firm.

Next, check what is on paper. A written dealer or supply agreement may need the other party’s consent to pass to a new owner, and an unwritten arrangement may end without warning. Ask your lawyer to review the agreements and tell you what transfers. Also check whether any financing the buyer plans relies on these contracts being in place at closing.

Then plan the introductions. Join the buyer on visits to the most important accounts, and be clear about what will stay the same. Offer a defined period after closing in which you answer calls and attend key meetings. Ask your accountant to tie each major account to its share of revenue, so the buyer can see where the risk sits. Keep notes on what each contact said, since promises made in conversation are easy to forget once ownership has changed.

Key takeaways

• Write down each account’s history, terms and contact, and mark which depend on one person.
• Have a lawyer review whether each agreement can pass to a new owner without consent.
• Introduce the buyer in person and agree on a handover period after closing.