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The Perry Agency
                 Tim O’Loughlin



Caitlyn O’Loughlin
Nichols College
Business and Society
MGMT-100-01
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.
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.
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.
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.
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.
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.

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Small business owner interview

  • 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.