Selling Your Company: Ensuring a Smooth Business Transition

Life is made up of meetings and projects: selling and transferring your business is one of them. Here is what you need to know and steps to follow to ensure a successful transfer of your GEM-CAR license for the new owners.

GEM-CAR License without Financing

If you are the old owner and you have decided to sell your shop:

- Send GEM-CAR an authorization to communicate the transfer : written confirmation of the business transfer

- Schedule with the Support Team the installation of the read-only copy installed on an external laptop/computer (Important for audits and futures references/consultations)

- Change the GEM-CAR license key with the new shop name
- Adjust GST and HST
- Adjust the logo
- Clear inventory transactions and set quantity to 0 (optional)
- Empty receivable and empty payable (optional depending on your agreement),
- Adjust the next facture number rounded to the next 10 000

GEM-CAR License with Financing

In addition to the above steps for the previous and new owner mentioned above,

• if you are the old owner, there are other elements to bear in mind:

- It is important to notify the financing company: transfer fees may be charged. Check with them to avoid any surprises.

GEM-CAR Tip

To avoid any extra fees, it is preferable to pay the balance of the transaction and add it to your sales transaction.

If You Are the New Owner

To thank you for choosing to use GEM-CAR to run your new shop, we will assist you with:
- GEM-UNIVERSITY accounts creation for all the new users with many hours of videos of training and tips to maximize your GEM-CAR
- 3 hours of online training for the new owner(s)
- Excel file transfer if you need it

In conclusion, thank you for choosing the GEM-CAR team for your business project.