What's In a Name?
Why your business name is important
In many cases, the name of a business is what attracts someone in the first place. Because you are opening an online store (and even if you weren't), you will want to make sure that your business domain name is available or at least something close (which will be explained in more detail in another chapter, but is just something to keep in mind). Also keep in mind that changing your business name later will be a huge undertaking, so don't be hasty in choosing your name as it is something that you will most likely have for the life of your business. If you sell a specific item and you name your store My Stuff, people won't have a clue what you are selling. However if you name your store Dog Toys and More, they will know right away that you sell dog toys. Having a specific name is key to letting customers know in just a glance what it is that you offer. Some examples of some clever business names are La Tea Da, a name for a tea company and Artsy Fartsy Antique Shop. Now these are names people will remember! Keep in mind that your business can and hopefully will grow, and that growth may including branching out and selling additional types of products. So, while you want your name to be something people recognize you by, you don't want it to limit you in the future. For example if you will be starting selling primarily mystery novels, you may want to call it Mystery Ink, and while this is a great name and catchy, it might limit you in the future if you decide to sell other types of books. Here are the main aspects to think of when naming your store/business:
- The name should be memorable, but easy to spell and say
- Don't limit your product line by choosing a name that won't allow for growth
- Does it distinguish you from the competitors (don't use generic names such as "Discount Office Supply")?
- Are any other business using that name or a similar name?
