Ideas for Creating a Business Name
Tips for brainstorming a retail business name
Creating a business name is easily one of the most enjoyable, yet utterly important, aspects of starting a retail business. Coming up with business name ideas may come easy for some, but others struggle with the task. The wrong business name can actually be the end of a well-built business plan. Let's use brainstorming to generate some solid business name ideas.
Brainstorming Business Name Ideas
In order to find the perfect business name for a new retail venture, we must first wade through the muck to find a gem.
We'll generate business name ideas by brainstorming, so grab a tablet, a pencil and let's begin.
At the top of the page, write down the product or service you offer. Underline it. Now below that, write down as many keywords related to your retail business that you can think of. The more words, the better.
If I were starting a maternity store and sold mostly clothing, I would write down Maternity Clothing. My keywords may look like; maternity, baby, clothing, pregnancy, breastfeeding ... you get the picture.
Once you run out of keywords, grab a thesaurus or use an online synonym finder to continue searching for keywords. The idea here is to find exciting and interesting words you may not normally use. By adding to the list of phrases or words of similar (and even opposite) meanings, your word list will grow exponentially. Add these new words to our list of business name ideas.
Under the words maternity, pregnancy, baby, etc., I would add these words to my growing list; maternity wear, due dates, new arrivals, mother-to-be, reproduction, babe, precious, bambino, little darling.
Stop and think about your business for a moment. What do you want to accomplish or what is your mission? How would you like others to view your business? What kind of testimonials would you like to receive from your clients or your customers? Now add some of those adverbs and adjectives to the list.
As a retailer of maternity wear, my mission would be to provide fashionable, trendy, tasteful maternity clothing and accessories for the expecting mom. I would want my buyers to think of my store and staff as knowledgeable, dependable, and trustworthy. My competitors should see me as professional, experienced, a leader in the industry. All of those bolded words and phrases get added to the list.
Your list should really be growing now and offering many options. Now add your own name to the list and your location, if it's relevant. If you think you may relocate your business one day or plan to sell, then don't use exact pinpoints.
I know that I would always live in the southeastern region of the United States but I can't guarantee I'll always live in the city or even the state I currently reside. So I'll add the words South, Southern, and Southeastern to my list.
Now that you have a long list of keywords, see if you can combine any words or if any suggest common sayings or clichés. Can you create any alliteration, which is a combination of words beginning with the same letter or sound? Also, if any words on your list have a homonym (other words that sound the same but spelled differently) then add it to your list.
Try pairing keywords which rhyme or even contradict each other. Keep in mind that your business name must not be misleading or in any way imply something that the business is not.
After playing around with my list, I find a few possibilities that I like. Magnolia Moms, Due South, Southern Expectations and Precious Trends all have potential.
Business Name Do's and Don'ts
Keep these tips in mind while choosing your new business name:
- Do make it easy to understand, spell and pronounce.
- Don't use negative-sounding words.
- Do consider where your business will fall in an alphabetical list such as the yellow pages.
- Don't limit your product line by choosing a name that won't represent all you do.
- Do create a name you can stand behind.
- Don't use a strictly generic term, such as 'discount office supply' which cannot be protected as trademarks.
- Do be creative and imaginative.
Testing Your Business Name
Now look at your list of possibilities and ask the following questions of each name:
- Is it pronounceable and easy to spell?
- Is it distinctive and concise?
- Does it clearly communicate your missive?
- Does it have a positive sound?
If you think you've chosen a winner, don't commit to it just yet. Get feedback from friends and family. Say it repeatedly. If after a few days you feel confident and comfortable with the name, then it's a keeper. If you can't get used to, toss it out and go back to your list.
If you have fallen in love with a name that doesn't precisely tell people what you do or what you sell, consider adding a tagline. A tagline is best described as a phrase or adage that defines your company's mission in the fewest words possible. Take another look at your list of keywords to see if any words can create a 3-7 word statement about who you are or what you are selling.
From the moment of inception, your business name will be linked to your customers' perceptions. All advertising will center on your brand. By putting a lot of thought and effort into generating business name ideas now, you may avoid many marketing and legal pitfalls.