Set Owner Training Terms Before Closing

List the work you are agreeing to do

Replace an open promise to help with specific duties. Customer introductions, staff instruction, supplier handoffs and system training each take time.

Agree the length of the transition, weekly availability and how assistance will be delivered. A buyer should know the support available without assuming you remain on call indefinitely.

Price additional help separately

If the buyer needs you beyond the included period, agree a consulting rate and approval process in advance. Define when travel, expenses and preparation time are payable.

Consider whether your continued involvement is tied to deferred payments. A long earnout and a long transition can postpone both your financial and personal exit.

Prepare continuity before the announcement

Document routine decisions and identify who can answer operational questions. A handover built around one conversation leaves too much knowledge in the former owner.

Coordinate employee and customer communications around the actual deal status. Confidentiality still matters while financing, consent and diligence remain unresolved.

Your attorney should review restrictions, employment or consulting terms and dispute provisions. The transition plan belongs in the sale negotiation, not as a favor added after closing.