1. The Perry Agency
Tim O’Loughlin
Caitlyn O’Loughlin
Nichols College
Business and Society
MGMT-100-01

2. The Perry Agency- Real Estate
• The Perry Agency is a Sole Proprietorship. It is a Sole
Proprietorship because it was the most economical. The cost
prohibited it to become a S-Corporation and he was able to
match liabilities that an LLC would have provided at a better
cost.
• The Perry Agency is a service. It does residential and
commercial real estate sales.
• My dad Tim, has been in the business for 10 years.

3. Background of Business
• My dad got started in the business because of my family.
• He started the business because corporate employment left
him no time for family so he went into business with my
grandfather and had more family time.
• My dads training was working with my grandfather who had
65 years’ experience in the business and then my dad took
over business in 2004 running all operations of the business.
• It compares to the company today because it is the same as it
was in 2004.

4. Successes/Challenges
• Successes- quality of life is much better; more time for family.
• Challenges- trying to keep up with the larger companies and
still be able to afford the costs to stay in business.
• To overcome the challenges he had to make negations on the
cost structure and work harder to keep up with the bigger
businesses.
• The critical success factors for this type of business is
marketing, local exposure such as advertising consistently and
networking sphere of influence (contacts).
• The fatal flaws in this type of business is the economy.

5. The Future
• No, my dad does not plan to stay in business for the extended
future and has a pending merger with a national corporation.

6. Questions
• Was the change from working in corporate world to a small
business hard to get used to?
• - Yes, you are now your own boss and it was hard adjusting to
running your own business and being in charge of every little
detail.
• What do you think it takes to run a small business?
• - The ability to accept failure and the drive to succeed.

7. Summary
• What advice do you have for the members of the class?
• - Prioritize what is important (family first then career) and
business wise work hard and utilize all resources between
internet and other medias.