We're finally selling our hardware store after 22 years. Buyer takes over in six weeks. I'm trying to build a handover checklist that goes beyond the obvious keys and alarm codes. What did you wish you'd documented or handed over when you sold? Specifically thinking about things like vendor contacts, informal supplier arrangements, staff schedules, and the weird stuff only the owner knows. Appreciate any real-world input.
Retail
Preparing your store handover checklist
The weird stuff is what gets yyou. We had a handshake deal with the guy who serviced our HVAC for years—no contract, just cash and a text. New owner had no idea who to call when the unit died in August. Write down every single pesron who fixes anything for you, even if there's no paperwork.
Staff is a big one. When my husband sold his auto parts shop, the buyer assumed everyone would just stay. Two of the counter guys quit within a month because nobody explained the new schedule or pay structure to them beforehand. Maybe have the buyer meet the key employees before closing.
That's a good point about the staff meeting. We have three employees who've been with us over a decade. I'd hate for them to feel blindsided. Did you have the buyer talk to them directly, or did you handle it?
Not the person you asked, but we did a group lunch—seller, buyer, and the crew—before we announced anything publicly. Kept it casual so nobody panicked. Worked out fine.
Licenses and permits. Our old owner forgot to tell us the fire suppression system needed an annual inspection signed off by the town, and we got a citation three months in. Check your local code requirements and list every renewal date. Also, ahy warranties on equipment—those transfer or they don't, and you need the paperwork either way
Second the permits thing. And vendor contacts—not just the main ones. The guy who drops off cardboard bales, the uniform service, the change-order company for the register. All those little recurring services have phone numbers buried in somebody's desk drawer.
The change-order company. I hadn't even thought of that. I'll start a separate page just for recurring services with account numbers and rep names. This is exactly why I asked.
Also inventory quirks. Ours had items that were special-ordered for regulars, and kept in the back with their name on a tag. New owner sold one of them and the customer was furious.
One more: passwords. Not just the computer, but but the alarm panel, the voicemail, the thermostat schedule, the keypad on the back door. We changed everything the week after closing and accidentally locked ourselves out of the utility billing portal because the login was under the old owner's personal email.