What should I ask about a kitchenware store’s bridal registry customers?
Ask how the registry works, how many couples are active, what they and their guests have spent and how any gift money or reserved items are handled. Then ask what happens to open registries if the shop changes owners, and who tells the couples.
A bridal registry can bring steady sales from guests who might never have visited the shop. It also creates promises. Ask how the registry runs: how couples sign up, how items are tracked, how purchases are recorded and whether the shop holds stock for them. Ask for the number of active registries and how many are close to their wedding date.
Look at the money. Ask for sales tied to registries over several years, including the guest purchases and any follow-up buying by the couple. Ask whether the shop gives couples a discount or a completion gift, and what it costs.
Check what the shop is holding. Are there deposits, store credit or gift balances owed to couples or guests? Ask your accountant to find them in the financial statements. Ask your lawyer who takes responsibility for them at closing. Ask about the records. Registry lists include personal information, so ask your lawyer how that data may be passed to a buyer. Finally, ask how couples find the shop, since word of mouth can depend on the owner’s reputation. Ask what the shop does for couples who change their date.
Key takeaways
- Ask how many registries are active and what they have brought in over several years.
- Find out what deposits, credits or reserved stock the shop is holding for couples.
- Ask your lawyer how registry information may be passed on and who handles open registries.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentUnderstanding post-merger operational integration
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