Digital Checklist for Transferring Business Ownership

Digital assets are important when you're buying or selling a business but can sometimes be left to the last minute or even forgotten. To make the buying/selling process easier, we've compiled a list of our top 7 digital items to consider during the process.

1. Search on IP Australia

Search https://www.ipaustralia.gov.au/ and see if there are any trademarks that need to be transferred.

2. Handover Facebook Business page

Transfer ‘admin’ ownership of your business’s Facebook page. This will ensure your new owners have access to the company Facebook page so they can keep it updated and use it to contact your customers.

3. Domain transfer

Ensure the new business owners know what domains the company owns, where they are hosted and how much the renewals cost. You will also need to change the registrant of who owns the business' domains. We suggest double checking with your domain host to see which domains you own and the costs involved in changing the registrant. Then, let the new owner know and start the process.

4. Handover access to EMS (Email Marketing System), online chat, CRM and/or other programs

Generate new credentials for the new owners of your business for any programs used to get hold of your customers. We also recommend compressing any databases you have of your customers and share them with the new business owners. Then, revoke your access to them as they belong to the business.

5. Handover website logins & access

Provide the new business owners access to the business’s website so they make edits to the website in the future. Also, inform them of any ongoing costs associated your website, such as an annual hosting fee. That way the website can continue to be maintained and kept updated under the new ownership.

6. Digital copies of logos & marketing material

You should provide digital copies of your logo, preferably in vector form, along with any other marketing collateral like brochures, business cards etc. It is probably best to put is all on a hard drive. 

7. Inform your clients of the change

Let your customers and suppliers know of the change of ownership and how it will affect them. The change of ownership could result in a change of processes, staff members, location, business name, bank details and many other things. Once you have an idea of how your customers will be affected, you need a way of telling them. You can use email marketing, social media, your website, store or office signage and your staff can tell customers too. It would be good to let your customers know well in advance to give them an opportunity to ask questions and adjust to the changes.

If you found this list beneficial and need help with organising the digital items we host for you please give us a call on 1300 932 776.

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