The Queen Victoria Market has a very high proportion of
un-named businesses. Well, technically all our businesses have some sort of
name but here we are talking about a name that we can promote to customers.
Customers are starting to relate to retailers in many new
ways. They are likely to want to email you, call you on a mobile or find you on
the internet and having a distinctive business name is important. You can
register more than one business name and it may be time you had a business name
that helps your business. Here are some things to consider when choosing a new
name –
1.
Don’t pick a name that is only relevant to you.
Sure, it is very tempting to leave your mark on the business world with a
personally motivating business name, but if it doesn’t make sense to others, it
won’t help your business develop.
2.
Using personal or family names are fine if you
don’t want to sell your business. A branded name on the other hand can add
value to your business when you decide to sell.
3.
No matter how great the name sounds, if it has
an unsavoury connection with something bad or perhaps has a different meaning
in another language, you could regret its choice. Do a comprehensive web search
before deciding.
4.
Avoid names that are difficult to spell or
pronounce. Some large companies have been forced to spend a lot of money making
their name understandable. Make it easier and cheaper for your business by
staying simple from the start.
5.
Using a geographic location may make sense right
now but if you move or expand it may not be so relevant. For instance, fitting
Vic Market in to your name may seem appropriate now but maybe not when you go
global (Let’s think big here.)
6.
Keep it simple – Your name should be
descriptive, perhaps clever, but never confusing.
7.
Registering your name is important. You’ve found a good
name? Now protect it (and yourself) by registering it. Here is the link - http://www.business.vic.gov.au/operating-a-business/how-to-start/starting-new/registering-a-business-name
8.
Now splash your name around on stall signs,
business cards, web pages, facebook pages, or any sort of marketing tool. If
you have picked a good name it will be something you will be proud to promote.
COMMENTS:
13/05/2013 15:59:14 Having a registered name "Dear Ed, I totally agree with the comments regarding the benefit of having a Name for your business, but under the listing of Trader's websites (Trader's Websites - (send us yours)) you tend not to use the business name. Regards Terry Lawn, Airllywood" Sorry Terry. Not sure why I left your business name out but fixed now. Any others? - Ed.
COMMENTS:
13/05/2013 15:59:14 Having a registered name "Dear Ed, I totally agree with the comments regarding the benefit of having a Name for your business, but under the listing of Trader's websites (Trader's Websites - (send us yours)) you tend not to use the business name. Regards Terry Lawn, Airllywood" Sorry Terry. Not sure why I left your business name out but fixed now. Any others? - Ed.