A Latino Business Owner’s Success Story: Fulfilling an American Dream
Reinaldo (Rey) Lopez is the owner of one of the largest Latino-owned businesses in the United States. He is a true American success story building his family business from the ground up.
Rey got his start laboring as a migrant worker with his mother on tobacco farms, earning a little over 90 cents an hour after moving north from Puerto Rico in the early 1960s. He was 14 years old.
Rey’s remarkable journey as a successful Hispanic entrepreneur highlights the importance of a strong work ethic, entrepreneurial drive and high integrity. Rey worked multiple jobs and started his own janitorial service before selling it and agreeing to represent a human resources firm. Rey didn’t agree with the way the firm conducted its business, so Rey left his job as account executive to launch his own human resources outsourcing company, Resource Management Inc., RMI.
“Some of my former clients were actually my first clients [at RMI],” said Rey. “We started by providing a business service that included payroll and workers compensation. We are a full-fledge human resources company and risk-management company. And now we’re in 38 states.”
Today, RMI is among the largest Latino-owned businesses in the United States. They provide human resources outsourcing, payroll services, employee benefits management and more to businesses across the country. Rey’s business is a great example of Latino business entrepreneur success. His company employs over 6,000 people nation-wide and continues to expand beyond its headquarters in Fitchburg, Massachusetts, with offices around the country.
Rey works tirelessly to protect his clients, but he also recognized the importance of protecting his own business and worked with financial professional, Steve Bruneau, of Boston 128 companies to ensure he had the proper business financial strategies in place. Central to those business financial strategies is life insurance from Ameritas.
In Rey’s words, “My family includes all my employees. I believe everybody deserves to achieve their goals. We have many families who depend on this business. We have to make sure that we are protected.”
“One of the reasons why I respected you so much when we had those early meetings was because you cared about protecting your business and the value that you’ve built both for yourself and your family,” said Steve. “But also, very impressive to me was that you wanted to take care of your key employees and you continued to take one step after another to protect and preserve what you had established.”
As for succession planning, Rey’s children – Rachel Lopez, President and Alex Lopez, Vice President – are pursuing his vision of helping small businesses successfully compete with large corporations by providing the right tools and support.
Ameritas is proud to help protect this American dream for Rey, Rachel, Alex and the whole RMI team.