What is Handover Checklist?
The Short Answer
Handover Checklist explained simply
A Handover Checklist is a detailed document that outlines everything a new owner or employee needs to know to take over a role or business. It covers operational procedures, key contacts, financial information, legal documents, and any other critical details. The goal is to make sure nothing is missed during the transition, allowing the new person to step in and operate effectively from day one.
Real-World Example
Selling a Coffee Shop
When selling a coffee shop, a Handover Checklist would include:
- Operations: Daily opening/closing procedures, coffee machine maintenance, supplier contacts.
- Staff: Employee contact information, payroll details, training manuals.
- Financial: Bank accounts, POS system access, tax IDs, recent financial statements.
- Marketing: Social media accounts, website login, customer email lists.
- Legal: Lease agreement, business licenses, insurance policies.
This ensures the new owner can run the shop without interruption.
Why this matters
A good Handover Checklist prevents problems and keeps the business running smoothly during a change of ownership. It protects the value of the business by making sure the new owner has all the tools and information they need to succeed. This reduces stress for both the buyer and the seller.
A thorough Handover Checklist is a sign of a well-run business. It shows buyers you are organized and makes them feel more confident about taking over.
A thorough Handover Checklist is a sign of a well-run business. It shows buyers you are organized and makes them feel more confident about taking over.
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