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Choosing Your Franchise Name

Written by: Ken Hollowell

Article Overview: The corner stone of franchising is the franchisor's brand, marks, commercial symbols and logo.

Choosing Your Franchise Name

Choosing a bad name may not make or break your business, but it sure can make the road ahead rockier, especially when it comes to branding and believability. Before you commit, first ask yourself: Is it easy to say? Is it easy to spell? And is it easy to see?

Your name is the first thing potential clients will see or hear, so it had better leave a lasting impression.
Where do you start? First, pick a name that's memorable. New businesses come and go, but it's the ones whose names stand out that get new clients.

Think about it. The harder the name is to say or spell, the harder it is to find in the phone book or on the Internet. Plus, if people are afraid to mispronounce it, you'll miss out on all that good word-of-mouth public relations
.
Next, pick a name that gives a clue as to what your business does. Just because your favorite flower is a daisy doesn't mean you need to incorporate the word daisy into the name of your auto body shop.
Sure, business names are personal, especially with small firms. But too many businesses focus their branding on what they like rather than the tastes of their target audience.

Also, try to stay away from trends. Pick a name that is timeless and branding that will appeal across the board.

If you're running a day care center, for instance, you're marketing to the child's parents, siblings, grandparents and community. Choose a name that is gender-neutral, age-neutral and location-neutral.
What's the long and short of it? The longer the name, the harder it is to say — and type, when you're thinking about Web domain names. Long names tend to get abbreviated or shortened in marketing materials and Web addresses, which ultimately leads to confusion and frustration.

Think about Google, Target, Kodak, Pepsi, Ingles, Belk and Taco Bell. Just about all the great company names and products are short and easy to say, usually one word or two.

What about personal names? They can add credibility to your company, like McDonald's, L.L. Bean and Williams-Sonoma. But in my book it's better to pick something catchy that lends well to a great logo and great image design. Think Amazon, Yahoo, Krispy Kreme and Juicy Couture.

So, what's next? Stake your claim. Register your assumed name or file your incorporation papers right away. Get your domain name from services like www.godaddy.com or www.dotster.com. And start using either TM (trademark) or SM (service mark). You don't have to register them to use them.

For more protection, the cost of purchasing a U.S. trademark or service mark is a drop in the bucket compared with trying to defend it later, especially if you're thinking about nationwide growth or franchising.

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Article Tags: franchise consultant, ken hollowell, our business, profran consultants



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