OnwardLearn · Selling · Step 10. Hand it over
Telling your customers
The short version
- Customers should hear about the sale from you or with you, before they hear it anywhere else.
- Start with your largest and longest customers, in person or by phone.
- Introduce the new owner and explain what stays the same.
- Follow with a short written notice to everyone else.
- Stay involved during the handover. Your presence reassures customers.
Why it matters
Your customers are much of what the buyer paid for. How they hear about the sale affects whether they stay. A clear, personal announcement keeps most relationships steady.
Who first
- Your largest customers, by revenue.
- Long-standing customers who know you personally.
- Customers whose contracts needed consent to transfer, if they are not already aware. Lesson 5.6 covers these.
- Everyone else, by letter or email.
What to say
- You have sold the business, and why.
- Who the new owner is, and why you chose them.
- What stays the same: the team, the service, the pricing where that is true.
- Who their contact will be.
- That you will be involved during the handover, if you are.
Only say what is true. If prices or services will change, let the new owner explain it.
Introduce the new owner in person
For your most important customers, bring the new owner to meet them. A handshake from you passes on trust that a letter cannot.
Take this to your own people
The questions for this topic, for your attorney, your accountant or your lender.
- For the buyer: "Which customers do you want to meet first, and how should we introduce you?" Listen for: a list and a plan you both agree on.
- For your M&A attorney: "Have all the customer consents we needed been received?" Listen for: confirmation for each contract that required one.
When you’re ready
How a sale actually happens, in plain language — before you decide anything. Make a free account — nothing is shared