What happens to wedding bookings when a florist is sold?
Booked weddings are a promise the shop still owes. List each booking and its deposit in the sale terms, agree who designs and delivers it, tell the couples in a planned way, and settle in writing how deposits move between buyer and seller.
Weddings and events are booked months ahead, and the couples have often paid a deposit. When the shop changes hands, those bookings do not go away. Someone must still design and deliver the flowers on the day. Both sides are better off treating them as a separate item in the deal, not an afterthought.
List every booking
Ask the seller for a schedule of upcoming weddings and events: the date, the couple or client, what was agreed, the price and the deposit paid. Check it against the contracts, emails and the shop’s calendar. A buyer should know what workload and what obligations arrive on closing day, and in which weeks.
Deposits between buyer and seller
If the seller already holds a deposit, and the buyer will do the work, the buyer will want credit for it. The seller will want to be sure that the work is done. How this is handled is a negotiated term. Ask your lawyer and accountant to set it out clearly, including what happens if a booking is cancelled.
Who designs the flowers
Couples often choose a shop for a particular designer. Find out who that is and whether they are staying. If the seller is the designer, ask whether they will agree to design the booked weddings after closing. If not, the buyer needs a realistic plan and should be ready to explain it to each couple.
Telling the couples
Agree on how and when each couple hears about the sale. A short message should confirm the date, the design and the contact person. Whether the original contract can pass to the buyer, or needs the couple’s agreement, is a question for your lawyer.
Related reading
15 pages on the same subject, grouped by topic.
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- Expert answerShould I buy an existing flower shop or open a new one?
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Selling
Legal
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 CanadaGovernmentMajor pitfalls to avoid when negotiating a purchase agreement
- 03Business Development Bank of CanadaGovernmentBuying a business? How to protect yourself from potential liabilities
- 04Business Development Bank of CanadaGovernmentAfter buying a business, what is the next step?
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