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Sold My Business

HirePOS Guides14. Tips, Tricks and FAQsFAQs

Sold My Business

If you have sold your business or decide to sell your hire business, HirePOS can make it easy for the new owners to pick up where you left off, and allow you to retain the portions of the business data you wish to keep.

The basic process for selling a hire business with HirePOS are as follows:

  1. Selling party to email HirePOS at hirepos@hirepos.com.au and inform of your plan to sell.

  2. Buying party starts a new trial with HirePOS via https://app.hirepos.com/Trial

  3. Buying party receives all the advantages of a new trial, such as training and support.

  4. Selling party to advise HirePOS in writing (via email) of the date of hand-over, and request the contents of their database to be copied to the buying party's account

    1. At this time, the selling party can stipulate any data to be stripped from the database on transfer (Payment and invoice history before a particular date, for example)

    2. At the agreed date, the contents of the selling party's database will be copied to the buying party's account.

    Important: The buying party must agree to the transfer. When the selling party's database is copied to the buying party's account, any data entered during the trial phase will be completely erased.

  5. The buying party commences paying for their month to month subscription.

  6. The selling party retains control and access to the original account and database for as long as they continue to pay their subscription.

    1. The initial contact indicating the intent to sell fulfills the 30 day notice requirement for the termination of active subscriptions as per our terms of use.

    2. The selling party may elect to continue to using their copy of HirePOS for a period of time after the sale for the purposes of tax reporting and account receivable (The bounds of this data movement should be be discussed and agreed on between the selling and buying party's.)

    HirePOS will act as per the written directives of the data owners, but will not be responsible for any breach of their agreement as a result of data migration.

  7. Selling party discontinues use of HirePOS and terminates subscription at a suitable subscription.

  8. Buying party continues trading with all the benefits of a HirePOS subscription.