Business Transition Plan Template (90-Day)

Business: [BUSINESS NAME]
Seller: [SELLER NAME]
Buyer: [BUYER NAME]
Closing Date: [DATE]
Transition Period: [START DATE] to [END DATE] ([30 / 60 / 90] days)
Transition Compensation: $[AMOUNT] per [day / week / month]
Primary Contact: [NAME, PHONE, EMAIL]

PLAN OBJECTIVES:
1. Transfer all operational knowledge required to run the Business without Seller
2. Introduce Buyer to key customer, vendor, and employee relationships
3. Ensure continuity of all critical business systems and processes
4. Complete handoff of all business accounts, passwords, and assets
5. Address any operational issues identified during due diligence

DAY 1 — ACCOUNT ACCESS (complete all before Seller leaves):
□ Bank accounts — add Buyer as authorized signer; remove Seller's personal accounts
□ Business checking, savings, and merchant accounts
□ All business credit cards — cancel Seller's personal cards; issue Buyer cards
□ Petty cash — count and document on-hand cash
□ QuickBooks / accounting software — transfer admin login; brief Buyer on chart of accounts
□ POS system — transfer admin credentials
□ Payroll platform — transfer admin access; review next payroll date
□ Email and domain hosting — transfer ownership records
□ Social media accounts — transfer admin credentials

DAY 2–3 — SYSTEM CREDENTIALS:
□ Walk through all software platforms with Buyer: [list each platform]
□ Password manager audit — create shared document of all credentials
□ Website CMS — transfer admin access; review hosting, SSL, domain renewals
□ CRM system — walk Buyer through customer records and pipeline
□ Phone system / call routing — transfer admin access
□ Security system and alarm — transfer codes, contact monitoring company

DAY 4–5 — EMPLOYEE INTRODUCTIONS:
□ Formal introduction of Buyer to all employees
□ One-on-one meetings: Seller introduces Buyer to each key employee
□ Announce Buyer's role and organizational structure going forward
□ Review each employee's responsibilities and performance status
□ Identify any HR issues Buyer should be aware of immediately

DAY 6–7 — OPERATIONS WALKTHROUGH:
□ Physical walkthrough of all facilities, equipment, and storage
□ Review open customer orders, projects, or service calls
□ Review accounts receivable aging — identify any collections issues
□ Review accounts payable — identify any urgent payments due
□ Review upcoming deadlines: tax filings, contract renewals, license renewals

CUSTOMER TRANSITION:
□ Identify top [10–20] customers by revenue — prioritize personal introductions
□ Seller emails all customers announcing transition (sample letter in Exhibit A)
□ Seller and Buyer make joint calls to top 10 customers
□ Document each customer's: key contact name, preferred communication style, account history, active contract status, renewal dates, any open issues
□ Flag any customer relationships at risk and develop a retention plan
□ Transfer any CRM notes, communication history, and deal records

VENDOR & SUPPLIER TRANSITION:
□ Identify critical vendors (ranked by spend and replaceability)
□ Seller introduces Buyer via email and phone to each critical vendor
□ Document for each vendor: contact name, account number, payment terms, contract status, negotiated pricing, any volume commitments
□ Verify: vendor knows Buyer is now the account holder; invoices will be directed to new billing contact
□ Review: any open purchase orders, backorders, or delivery commitments

KEY THIRD-PARTY RELATIONSHIPS:
□ Business attorney — introduce Buyer
□ CPA / accountant — introduce Buyer; brief on prior-year returns and any open matters
□ Business insurance agent — transfer policy; add Buyer as named insured
□ Commercial landlord — formal introduction; confirm lease assignment is complete
□ Banker / lender relationship — introduce Buyer to commercial banker

OPERATIONAL PROCESSES:
□ Walk through each critical operational SOP with relevant employee
□ Document any processes that exist only in Seller's head (shadow Seller through each task)
□ Identify seasonal patterns, cyclical business changes, and industry rhythms
□ Document vendor lead times and inventory reorder points
□ Walk through production / service delivery workflow from order to fulfillment
□ Review pricing methodology — how are quotes/estimates calculated?
□ Review any custom pricing arrangements with specific customers

FINANCIAL OPERATIONS:
□ Review monthly financial close process step-by-step
□ Review payroll process — timing, approvals, payroll taxes
□ Review accounts receivable collection process
□ Review bill-pay process and approval levels
□ Review any financial covenants in existing debt obligations
□ Brief Buyer on any recurring expenses, subscriptions, or commitments

PEOPLE & CULTURE:
□ Review each employee's strengths, development areas, and any concerns
□ Share any institutional knowledge about team dynamics
□ Review compensation review cycle and any pending reviews
□ Identify any upcoming scheduled time off or leave requests
□ Review hiring processes, job descriptions, and talent pipeline

DOCUMENTING UNDOCUMENTED KNOWLEDGE:
□ Seller records video walkthroughs of key operational processes (use Loom or equivalent)
□ Seller writes up any "tribal knowledge" items: unwritten rules, important relationships, seasonal patterns
□ Create FAQ document: "What Seller wishes every new owner knew" — top 20 questions
□ Document supplier negotiation strategies and relationship history
□ Document customer quirks, preferences, and known sensitivities
□ Document any technical workarounds or non-obvious operational details

HANDOFF DOCUMENTATION PACKAGE:
□ Operations manual (or update existing)
□ Employee roster with compensation and performance notes (confidential)
□ Customer Rolodex with notes on each relationship
□ Vendor contact sheet with terms and account numbers
□ Technology stack overview — all platforms, purposes, and renewal dates
□ Financial summary: prior 3 years P&L, current budget/forecast, key financial KPIs
□ Upcoming milestones and deadlines calendar

TRAINING:
□ Industry associations and networks Buyer should join
□ Key conferences, publications, and trade events in the industry
□ Regulatory and compliance calendar (licenses, certifications, inspections)
□ Any ongoing legal matters or regulatory relationships to manage

FINAL HANDOFF ACTIVITIES:
□ Final review of all open items from transition checklist
□ Remove Seller's personal access from all remaining systems
□ Final banking: confirm Buyer has sole signing authority; close any Seller personal accounts linked to the Business
□ Update business registrations, agent of record, and state filings
□ Update business insurance: confirm Seller removed; Buyer confirmed on all policies
□ Final post-closing adjustments: working capital true-up, inventory count, AR cutoff

KNOWLEDGE TRANSFER CERTIFICATION:
Buyer certifies that the following have been completed:
□ All system credentials transferred and functional
□ All key relationships introduced and documented
□ All SOPs documented or video-recorded
□ All accounts and registrations updated
□ No open items requiring Seller's ongoing involvement

POST-TRANSITION SUPPORT:
□ Seller agrees to be available for [10 / 20] hours of remote consultation in the [3 / 6] months following the Transition Period at a rate of $[AMOUNT] per hour, for questions that arise after the formal handoff.
□ Emergency contact information: [SELLER PHONE / EMAIL] — available for true operational emergencies only.

______________________________________
[SELLER SIGNATURE] — Transition Completed
Date: _______________

______________________________________
[BUYER SIGNATURE] — Transition Accepted
Date: _______________