How should I handle prepaid sympathy and standing orders when I sell my flower shop?

Prepaid orders are cash you have already collected for work not yet done. If you sell and keep that cash, the buyer is left to deliver flowers they never got paid for. Expect them to ask about it, and be ready with a clear list.

Build the list with care. For each prepaid order, record who paid, what was ordered, when it is due and how much remains. Do the same for standing orders: the customer, the schedule, the usual arrangement and the price you charge. Pull this from the till records and the customer files rather than memory.

Then agree how it is handled. Some sellers credit the buyer for the unfulfilled amount at closing; others deliver the work themselves before the handover. Whichever you choose, have your lawyer write it into the agreement so there is no argument later. Tell the buyer about any special promises, such as a discount for a long-time customer or a standing arrangement with a funeral home, so nothing comes as a surprise.

Key takeaways

• Total up everything customers have paid for but not yet received.
• List standing orders with schedule, customer and agreed arrangement.
• Put the way these are handled into the written agreement.
• Tell the buyer about any special promises made to long-time customers.