Ownership Transfer Checklist/Closing Checklist

searcher profile

March 20, 2025

by a searcher from Carnegie Mellon University in McLean, VA, USA

Hi All,

We are currently under a LOI for a franchise resale, and I wanted to see if anyone could share a checklist for key operational transitions—either post-closing or within the 30 days leading up to closing.

For example:

The seller has a payroll system that will need to be transferred to our name—at what stage does this transition typically occur? There are existing contracts with marketing firms—would these agreements be transferred before or after closing? Are there other critical operational tasks that should be addressed pre-closing to ensure a seamless transition?

If anyone has a structured checklist or best practices to track these operational changes and maintain continuity, I’d greatly appreciate your insights!

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commentor profile
Reply by a professional
from Villanova University in West Chester, PA, USA
Hi ^redacted‌, the timing of these transitions often depends on the deal structure (asset vs stock purchase) and consent requirements from or notices to third parties. It’s important to review and assess contracts to see what obligations or payments are involved. We routinely guide buyers through this process and advise them on the post-closing checklist. I’d be happy to discuss this further. My consultation link is available here deanstreetlaw.com/links
commentor profile
Reply by a searcher
from London Business School in New York, NY, USA
Rinku, first congrats on the acquisition. There's a recent webinar by Acquiring Minds in which Chelsea Woods from Acquisition Lab dives exactly into this topic - highly recommend checking the recording. Best of luck!
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