IS THIS A REASONABLE AND EFFECTIVE TRANSITION PLAN?
I'm closing in on an Asset Purchase Agreement and need to propose a transition plan. The seller appears willing to be available as much or as little as I'd like, however, I'm concerned that having the prior owner in the building for too long could lead to confusion amongst the staff on who is leading the company as we move forward. I may be overthinking that aspect, and so it may be best to just have him in the office full-time for as long as possible. My first draft, though, is for him to be full-time the first two weeks, and then gradually removing himself physically from the office while still being available to discuss transition matters, meet customers/vendors, etc. There is a solid team in place to handle sales, customer orders, project management, etc, and it is not a technical or highly complex company, however, some of the key customers are school districts and universities which have complicated hurdles to sell into and some manufacturers they represent are high-maintenance. Here is my first draft, and appreciate your feedback!
Week 1 - 2: 5 business days a week, 9-5, Either in-office or customer/vendor site.
Week 3 - 5: 3 business days a week, 9-5, Either in-office or customer/vendor site. Pre-scheduled phone/video calls up to 2 hours on alternate days. Week 6 - Seller's vacation Week 7 - 9: 2 business days a week, 9-5, Either virtually, in-office, or at customer/vendor site on Purchaser's determination. Pre-scheduled 2-hour phone/video calls 2 days a week.
Week 10-13: 1 business day a week, 9-5, Either available virtually, in-office or at customer/vendor site on Purchaser's determination. Pre-scheduled 1-hour phone/video calls on 2 days a week. Week 14-52: Seller available to answer questions via phone or email. Emailed questions to receive a response within 24 hours. Pre-scheduled 1-hour phone/video calls every other week (flexible for vacation time).