So you’ve sold your business. Congrats. That’s a huge milestone. But before you ride off into the sunset or onto your next big adventure, there’s one last phase that really matters. The transition period.

Think of it like passing the torch, not just handing over keys and contracts, but making sure your buyer, team, customers, and brand are set up to thrive without you.

Here’s how to manage that transition like a Sherpa-level pro.

1. Communicate Like a Human

No jargon. No confusion. Once you have secured a buyer, we recommend being open and honest with your team, suppliers, and customers. Let them know what’s happening, why it’s happening, and what to expect. This calms nerves, builds trust, and keeps the rumour mill from spinning out.

Pro tip: Introduce the new owner yourself. A warm handover goes a long way.

2. If You’ve Agreed to Stay On, Actually Stay On

Whether you’ve committed to 30 days of consulting or a 6 month transition, show up and bring your A game. Your insights, shortcuts, and institutional knowledge are gold to a new owner trying to find their feet.

Think of it as helping your legacy land in good hands.

3. Nail the Operational Handover

This isn’t just about showing someone how the till works.

Document your core processes.
Share key contacts.
Train them on systems.
Explain the “why” behind how things are done.

If your business runs on muscle memory, now’s the time to turn that into a manual.

4. Rally the Team

Employees are often the most stressed during a sale. Be honest. Be clear. Reassure them where possible and encourage them to give the new owner a fair shot.

A stable team helps buyers breathe easier and keeps the business humming along.

Remember, most business buyers aren't going to rock the boat until they've bedded in, so often very little is going to change for your team.

5. Smooth Out the Customer and Supplier Side

Introduce the buyer to your VIP customers and key suppliers. Give everyone a reason to stay on board. Continuity equals confidence.

6. Transfer the Paperwork All of It

This includes:

Leases.
Licenses.
Vendor and customer agreements.
IP and branding rights.

Make sure everything is signed, sealed, and legally transferred. No loose ends.

If you are using a solicitor, they can help you out here.

7. Handle the Finances Like a Pro

Work with your accountant or advisor to wrap up:

Final payments and fund transfers.
Tax obligations.
Debt clearance.
Employee entitlements if applicable.

Clean books equal clean exit.

8. Stay Compliant

From employment laws to industry regulations, don’t let your guard down yet. Make sure the transition ticks all the legal boxes, so the buyer doesn’t inherit any hidden headaches and neither do you.

Again, your solicitor can be a huge help here.

9. Set Check Ins Then Let Go Gradually

It’s smart to agree on a few post sale check ins to offer guidance or troubleshoot. Just make sure there’s an end date. Otherwise, you’ll never really leave.

10. Protect the Reputation You Built

Even during the transition, hold the line on:

Quality.
Service.
Communication.

Your reputation is still tied to the brand for now. Help keep it strong.

11. Keep the Feedback Loop Open

Be willing to adapt if something’s not working for the new owner. A little flexibility can save a lot of friction.

12. Hand Over the Records

Everything from your financials to HR files should be neatly organised and shared.

Pro move: create a digital folder with everything in one place.

13. Celebrate the Moment

Don’t skip this part. You've built something amazing. Take time to thank your team, acknowledge the milestone, and toast to what’s next.

14. Have a Backup Plan Just in Case

Sometimes things go sideways. A supplier bails. A system breaks. Be ready with a contingency plan for the early handover period.

15. Stay Curious, Not Clingy

It’s okay to check in down the track. Many Sherpa sellers stay in touch to see their old business grow in new hands. But remember, it’s their journey now.

Final Word from Sherpa

A smooth transition is the final gift you give your business. Done right, it protects your brand, reassures your team, and sets the buyer up to succeed.

If you’re still on the path to selling, Sherpa is here to guide you from pricing to settlement, and through the handover too.

Get Started with a Free Appraisal.