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Selling Business

I am selling my business at the end of the month. Should the new owner take over this account or open a new one? If they open a new one will the loaded gift cards work under their account?

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Hello @bungalowbounce, welcome to the Seller Community. 

 

This is a great question that i'm sure other sellers will have if they decide to sell their business. We do recommend having the new owners setup their own Square Account.  That way the account is no longer in your name and they will be able to contact our Customer Success Team

 

Which is a great transition to your next question! Our Customer Success Team can migrate all of the gift cards to the new owners account. Once they've setup their account we will be able to move the gift cards over. 

 

If you have any other questions I would be happy to help out. 🙂

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In addition to moving over existing gift cards, can previously unused gift cards ordered under one Square account be used on the new owner's Square account? I seem to remember when ordering my physical gift cards that I was warned they are tied to my Square account and another account could not simply start using them, but perhaps I am mistaken.

 

Also, can the team transfer other information such as the customer database, and Appointments reservations?

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Square Community Moderator

Hi! 

 

You can migrate gift cards, but only ones with an existing balance. I would strongly recommend that the new business owner/Square account order new gift cards for that account if at all possible. 

 

You can export your customer directory and import it into the new account, but Appointment's reservations will need to be transferred manually. 

 

Let me know if you would like any more details explained or questions answers. I'm here to help. 🙂

AshleyK
Community Moderator, Square
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Beta Member

What about product inventory? Can that be transferred as well? I am selling my business as well and would like someone to contact me that I can work with on this. Thanks!

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Super Seller

to transfer inventory, you can export it as a csv or excel file and send it to the new owner which they can then upload the inventory in their Square account.  

Keith
Owner
Pocono Candle

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