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Name for my Business

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Wes J

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Jan 24, 2016
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649
Location
Peoria, IL
still learn'n said:
I'm probably different but I wouldn't name my business with anything to do with my name. If you ever do sell the business what happens then.
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The new owner renames the business and carries on like nothing happened. They have to start over from a legal perspective anyway, so it's no big deal to change the name.

We're talking about a small business here. Outside of Silicon Valley, most businesses will use the owner's name in some capacity.
 
GregsHD

GregsHD

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Joined
Sep 26, 2014
Messages
557
Location
Mahood Falls, BC
Occupation
Self Employed HD Mechanic
Up here in Canukistan, well in BC anyway, most Provincial corporations are a numbered company eg, (123456 BC LTD) Doing Business As, John's chicken choking service.

If Fred buys the company it remains 123456 BC LTD but he can DBA prit near whatever name he chooses.

If it's a Federal Corporation country wide there's a bunch of BS including a company name search etc etc.

What's it like State side?
 
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Wes J

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Messages
649
Location
Peoria, IL
Pretty much the same. Incorporation is still done at the state level though. But you have to do the name search and appoint officers and a board and all that crap.

For a simple sole proprietor business, you can DBA anything you like. The legal part of the business is tied to your legal name and social security number. You'll receive an EIN, basically a tax ID number. That's pretty much a social security number for your company. If you change the DBA name, the EIN stays the same.

A trip to the local county government office can likely accomplish everything you need.
 
colson04

colson04

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Apr 11, 2016
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2,087
Location
Delton, Michigan
still learn'n said:
I'm probably different but I wouldn't name my business with anything to do with my name. If you ever do sell the business what happens then.
Click to expand...

Just keep the original name. A friend bought his boss's business and just kept the previous owners name on the door because of the solid reputation the business had.
 
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AzIron

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Jun 14, 2016
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Az
A few outfits here are on second and third owner with original owner dead and the original name on the buissness cause name recognition is something of value
 
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renovator

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Joined
Oct 27, 2011
Messages
69
Location
New Mexico
Keep it simple. I had a well though out name for my business, but I ended up having to spell it out every time. In hindsight, I should have just gone with Mike's.
 
Truck Shop

Truck Shop

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Dec 7, 2015
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16,992
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WWW.
I have seen three auto repair shops that used/had RPM in the name. RPM-Ruins Perfect Motors.
 
Tugger2

Tugger2

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Mar 22, 2018
Messages
1,379
Location
British Columbia
I used my own name on my business,which worked well for me . At times i had reservations about it when it came to selling,but those times have past and im just riding it out. Some interesting ones ive come across in my neck of the woods ' God awful logging an upside down happy face was the logo on the pickups.A pile driving company called Lamina Management ( animal spelled backwards) If i did it again id use something more generic like the town or area im from or an abreviation of initials as im not big on drawing attention to myself ( bad way to get ahead sometimes)
 
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