Business Entrepreneurship

Buying an Existing Business

A practical acquisition roadmap for evaluating, negotiating, financing, and taking over a small or mid-sized business

Buying an Existing Business logo
Quick Course Facts
19
Self-paced, Online, Lessons
19
Videos and/or Narrated Presentations
6.9
Approximate Hours of Course Media
About the Buying an Existing Business Course

Buying an Existing Business is a practical Business course for aspiring owners, operators, investors, and entrepreneurs who want to acquire a small or mid-sized company instead of starting from zero. You will learn how to evaluate opportunities, speak with sellers, analyze financials, structure offers, secure financing, manage risk, and take control with a clear post-acquisition plan.

Build A Practical Roadmap For Buying An Existing Business

  • Follow a practical acquisition roadmap for evaluating, negotiating, financing, and taking over a small or mid-sized business.
  • Learn how to screen listings, verify seller claims, and identify high-quality Business opportunities.
  • Build confidence with valuation, deal structure, due diligence, financing options, and purchase agreements.
  • Prepare for ownership transition with a first 100 days plan that supports continuity, staff trust, and long-term growth.

This course teaches the full Business acquisition process from buyer criteria and deal sourcing through closing and post-acquisition execution.

Buying an Existing Business can reduce many of the risks of starting from scratch, but only when you know how to assess the deal before committing. This course walks you through the acquisition foundations, including why buyers choose existing companies, how to define your buyer profile, and what types of businesses may fit your goals, skills, capital, and risk tolerance.

You will learn how to find potential acquisitions through brokers, networks, and direct outreach, then evaluate listings with a buyer’s mindset. The course covers financial statement review, seller discretionary earnings, adjusted cash flow, customer concentration, revenue quality, operations, staff, systems, and owner dependence so you can separate strong Business opportunities from weak or misleading ones.

As the course progresses, you will build practical skills in valuation, acquisition modeling, offer strategy, seller conversations, confidentiality agreements, data rooms, letters of intent, financing with debt, seller notes, and equity, and due diligence across financial, legal, commercial, and operational areas. By the end, you will understand how to negotiate closing conditions, plan the ownership transition, and lead the first 100 days as the new owner with greater clarity, discipline, and confidence.

Course Lessons

Full lesson breakdown

Lessons are organized by topic area and each includes descriptive copy for search visibility and student clarity.

Acquisition Foundations

3 lessons

This lesson explains why many entrepreneurs choose acquisition entrepreneurship instead of building a company from zero. Students compare the risk profile, timeline, cash flow, financing options, and …

Lesson 2: Defining Your Buyer Profile and Acquisition Criteria

21 min
In this lesson, Professor Victoria Okafor helps buyers define the two things that should guide every acquisition search: who they are as a buyer and what kind of business they are actually prepared to…

Lesson 3: Understanding Types of Existing Businesses for Sale

18 min
This lesson introduces the main categories of existing businesses a buyer may encounter in the small and mid-sized acquisition market. Rather than treating every listing the same, students learn how b…

Deal Sourcing

2 lessons

Lesson 4: Finding Deals Through Brokers, Networks, and Direct Outreach

22 min
This lesson shows buyers how to build a practical deal sourcing system using three primary channels: business brokers, personal and professional networks, and direct owner outreach. The goal is not si…

Lesson 5: Screening Listings and Seller Claims

20 min
In this lesson, Professor Victoria Okafor shows how to screen business-for-sale listings before spending serious time, money, or emotional energy on a deal. The goal is not to prove a business is good…

Financial Analysis

2 lessons

Lesson 6: Reading Financial Statements Like a Buyer

24 min
In this lesson, Professor Victoria Okafor teaches buyers how to read financial statements with an acquisition mindset. Rather than accepting reported profit at face value, buyers learn to connect the …

Lesson 7: Seller Discretionary Earnings and Adjusted Cash Flow

23 min
This lesson teaches buyers how to translate a seller’s financial statements into a practical view of owner benefit and operating cash flow. Students learn the difference between reported profit, EBITD…

Business Quality

2 lessons

Lesson 8: Evaluating Customers, Revenue Quality, and Market Position

21 min
This lesson teaches buyers how to evaluate the quality of a target company’s customers, revenue, and market position before relying on reported sales or seller projections. You will learn how to separ…

Lesson 9: Assessing Operations, Systems, Staff, and Owner Dependence

22 min
This lesson teaches buyers how to evaluate whether a business can operate reliably after the seller leaves. Financial statements may show profit, but operational quality determines how transferable th…

Valuation and Offer Strategy

2 lessons

Lesson 10: Valuation Methods for Small and Mid-Sized Businesses

24 min
This lesson explains how buyers estimate the value of a small or mid-sized business before making an offer. It focuses on practical valuation methods used in lower-middle-market and main street acquis…

Lesson 11: Building an Acquisition Model and Testing Deal Economics

25 min
This lesson shows how to build a practical acquisition model that connects purchase price, financing structure, operating assumptions, and buyer returns. Instead of treating valuation as a single numb…

Negotiation Process

2 lessons

Lesson 12: Making Contact and Handling Seller Conversations

18 min
This lesson teaches buyers how to initiate contact with a business owner or broker and manage early seller conversations without sounding careless, desperate, or overly aggressive. The goal is to crea…

Lesson 13: Confidentiality Agreements, Data Rooms, and Early Information Requests

19 min
This lesson explains how buyers should handle confidentiality agreements, data room access, and early information requests during the negotiation process for an existing business acquisition. It focus…

Deal Structure

2 lessons

Lesson 14: Structuring a Letter of Intent

23 min
This lesson explains how to structure a practical letter of intent for buying a small or mid-sized business. The LOI is not the final purchase agreement, but it sets the commercial architecture of the…

Lesson 15: Financing the Purchase With Debt, Seller Notes, and Equity

24 min
This lesson explains how buyers combine senior debt, seller financing, buyer equity, and sometimes outside investor equity to fund the purchase of an existing small or mid-sized business. It focuses o…

Risk Management

2 lessons

Lesson 16: Due Diligence: Financial, Legal, Commercial, and Operational

25 min
This lesson turns due diligence into a practical risk-management system for acquiring a small or mid-sized business. Instead of treating diligence as a checklist exercise, buyers learn how to identify…

Lesson 17: Negotiating Purchase Agreements and Closing Conditions

22 min
This lesson explains how buyers use the purchase agreement and closing conditions to manage deal risk after diligence but before ownership transfers. It focuses on the practical clauses that determine…

Post-Acquisition Execution

2 lessons

Lesson 18: Planning the Ownership Transition

21 min
This lesson turns the post-closing handoff into an operating plan. Students learn how to structure the first days and weeks of ownership so employees, customers, vendors, lenders, and the seller know …

Lesson 19: The First 100 Days as the New Owner

23 min
This lesson gives buyers a practical operating plan for the first 100 days after closing. The focus is not on dramatic reinvention; it is on protecting continuity, earning trust, stabilizing cash flow…
About Your Instructor
Professor Victoria Okafor

Professor Victoria Okafor

Professor Victoria Okafor guides this AI-built Virversity course with a clear, practical teaching style.