For most people, coming up with company names is quite a difficult process. There are many factors to consider when selecting a company name and you don’t want a name that will not work for you a few years down the road. Here are some things to consider in naming your business:
Initially, you should not make your company name sound like another brand as it will only make you a replica company. Think of Ecomet and Econet. Take your time to research about your proposed company names.
Future expansion plans
While you may name your company after your only product right now, it’s possible you may venture into other products in the future. While the name should reflect the personality of your product, at the same time, it shouldn’t be limited to your current product offering. For example, FoodWorld cannot venture into real estate using its name.
Short and snappy
Your company name can be one word, whether an existing word or a completely made up one, like Telone. CABS just means Central African Building Society and is today one of the most recognizable brand names in Zimbabwe.
Yes the name should be short but it should also be easy to pronounce and attractive in a way that makes the brand just stick. A few good examples of brand names that are catchy include ZimPlats, Nike, and Bon Marche.
Availability of domain and social media names
Imagine you’ve come up with a great name but the domain name or social media account is already taken up! Nowadays you just cannot afford to go with a name that’s not available for you to create your digital identity.
Even if your name is available for digital identity, it shouldn’t be something so generic that Google can’t differentiate your brand name from a general word. For example, Deliver wouldn’t be a good company name.
Avoid unusual spellings
Try to use words that can easily be spelled by customers when creating a company name. This helps you to avoid trouble when customers ‘Google’ your business to find you, or try to refer you to others. A more of traditional word spelling would be better.
Make some sense.
Always check for the international implications of your name. More than one company has been embarrassed by a new name that had negative and even unappealing meanings in other languages.
Give a clue
Aim to use a business name that provides some ideas about what your core business activities. Calling your Restaurant “Eat and Lick” is appropriate, but the same name isn’t ideal for a taxi business. Your business name should remind customers what services you provide.
Sample potential customers
Think of a few different name choices and try them out on your potential customers, investors, and co-workers. Ask questions relating to the names to see if they give off the impression you desire.
Do you want to register your own company?
Let our company registration experts can help you for a hassle free experience