Hi All,
I just closed on my first business acquisition. Putting together a master list of key actions to take prior taking possession of the business (post close) and critical items to execute during the training transition period with sellers.
Please send me a direct message if you have a master list I can guide myself with. Any input is truly appreciated,
Thank you, Searcher Community!
Below what I have so far:
Get Business Credit Cards
Set up New QuickBooks
Record your new debt liabilities.
Set up new Bank Account (checking)
Order Checks
Set up of Transfer Credit Card Services
Business (Liability, Property and Fire)
Transfer $51k worth of deposit and rent advance payments
Apply for fire Permit on Warehouse lease
Obtain Commercial Leases
Certificate of Formation LLC
Subordination letter for landlord
Sign FBOL Offer Letter
Collateral: Renata to pledge interest to lender
Assign Lender as Mortgage/Loss Payee
LLC Operational Agreement
Resolution Form
Term Life ($900k each)
Form 1919
Gift Letter from Enrique Cruz
Get EIN For Entity
Get Sales and Use Tax Certificate
Pick Accountant
Add yourself as an employee
Set up All ACH Transfers for Clients who pay by ACH
OSHA Inspection
Get Resale Certificate
Set-up Sales Tax Online account
Set-up EFTPS account Federal
Issue new Resale Certificates to any Vendors needing them.
Get new Sales Tax Certs from Clients
Have exiting Entity Create W2's for employees before closing out their accounts
Phone
Internet
Gas
Electricity
Water
Pest Control
Web / Email Hosting
Post Acquisition Checklist - What's next?
![](https://55550cf88fb9105859d2-ecc273435fde99d2e690dfef78341117.ssl.cf5.rackcdn.com/img/defaultprofile.png)
by a searcher from University of Houston, Downtown
More on Searchfunder
Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
447 views
48 comments
Sign in to see all replies.
Create an account.