Coming Up With a Business Name
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Coming with a business name?! God this can be super simple to super complicated. You all know that Pretty Pokets™ was called as "Vimaneaa." When I came up with this name, I was so sure this would be the name for my brand of bags. But when I started selling the bags and when the word about the diaper bags started spreading out, everyone had one question "how do you pronounce it?"
In fact, a dear friend of mine was quick to inform me that I have to change the name. I thought do I have to? But pretty quickly it was evident that I had to.
But, do you know that once you finalize the name which( in itself is a vast and cumbersome process), It's the start of a chain of steps that should happen and only then can you claim that the name is yours.
When I chose "Vimaneaa" as the name, it was easy. Becuase the name was unique. Once you select a business name you have to do the following:
- Find if the domain name exists
- Apply for Trademark
- Register your business
- Apply for Business License( Business Tax Certificate)
- Social media accounts
Find if the domain name exists:
You can find if a domain name exists by using Godaddy, Bluehost, Shopify, etc. Once you know that your domain name exists, quickly buy the related domain(s).
Apply for Trademark:
Your next step, If you finalize the name.is to file for the trademark. This is a very important process. Trademark filing fee is a non-refundable fee which costs around $225. If you are going through a lawyer, it will cost you close to $1000. Just remember that you can always file your Trademark.
Register your business:
Register your business. You can do it as DBA(doing business as) or any structure you choose.There is a registration fee which you have to pay every five years.
Apply for Business License( Business Tax Certificate):
You need to apply for the business license in the city you are operating even if it's not a physical store(ex: online). There is a registration fee which you have to pay every year.Do check for other licenses and permits that you need to take.
Social media accounts:
Last but not least dont forget about your social media accounts!
Just some tips,
The name should be Catchy, Shopify has a name generator. Just google to find a name generator and start exploring!
Between,! Our Kiva Crowdfunding was 100%, and we are going into production! Yahoo!
Take care! See you in next post!