In this first of three modules, participants are introduced to the process of buying a small business. Module 1 introduces the acquisition process and focuses on evaluating a business opportunity and structuring a non-binding Letter of Intent (LOI). Learners are introduced to the case study and begin assessing whether the business is worth pursuing and under what preliminary terms. What you’ll gain from Module 1: An understanding of the end-to-end small business acquisition process and where the LOI fits within it How to evaluate a business opportunity beyond surface-level metrics and broker summaries The purpose and structure of a non-binding Letter of Intent, including what it should and should not do How valuation expectations are formed early and why they are rarely final Common seller motivations for selling a business and how they influence deal dynamics How to think about risk, leverage, and flexibility before committing significant time and capital Why most acquisition mistakes begin before due diligence ever starts