The Perry Agency is a sole proprietorship real estate agency owned and operated by Tim O'Loughlin for the past 10 years. It focuses on residential and commercial real estate sales. Tim started the business after leaving corporate employment to have more time for his family. While the business provides Tim with a better quality of life, the challenges of keeping up with larger competitors while controlling costs. Tim plans to merge the business with a national corporation in the near future.

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.