QUESTION: We are starting a company. Thanks in part to PRO Magazine, we have researched the industry, attended the WWETT Show, done financial analysis, worked with our local bank and obtained legal counsel concerning state and local rules and regulations. Now all we need is a name. What are your thoughts and suggestions on naming a company?
ANSWER: To begin with, we commend you on your extensive research prior to entering the industry. Reading articles about PROs in our industry and attending WWETT is a huge advantage to you as opposed to merely doing the legal and financial basics of starting any type of business.
We will address ideas on selecting a name and then the process by which that name is then properly registered.
WHAT’S IN A NAME?
Your company name is the first thing that customers see and, over time, it will earn the reputation that your company works to project. Your company name is your invitation to the public to contact you for their portable sanitation needs.
CONSIDERATIONS
PROFESSIONAL – Particularly in our industry where public perception is a challenge, consider company names that do not disparage portable sanitation. A professional name that does not mimic public jokes or slang conveys professionalism in providing quality service and equipment. We have heard it said that “we don’t want our name to be a joke because we don’t want our service to be a joke.”
DESCRIBES YOUR BUSINESS – Many PROs will include in their full name words such as “portable sanitation,” “pumping,” “portables,” “portable restrooms” or “portable toilets” to sum up their business. Having these words in the full name is also valuable to the PRO in internet searches.
EASY TO REMEMBER – You eventually want the name of your business to become synonymous with a portable restroom. “We need an XYZ on this job site” needs to be the phrase used as opposed to “we need a portable restroom from XYZ on this job site.” A name that is easy to remember is easy to recall for your customers, and easy for them to refer your company to others.
EASY TO SPELL – Whether searching on the internet or entering your company’s name on checks, make this trouble free for your customers.
UNIQUE – If your name is similar in some ways to those of your competitors, you will lose business at some point. Similarity in names also infers “they are all the same” in terms of service and performance. You do not want your company to be considered the same as all of the rest in your market.
ADVERTISING – This is a topic unto itself but consider ideas as to how your company name could be prominently displayed on unit decals and service vehicles to promote the company.
WHAT ABOUT JOE’S JOHNS?
This idea should be evaluated and decided upon at the beginning of the naming process. There are advantages and disadvantages to using your family name in the company name.
Among the advantages are recognition in the community. If the family has been in another business for a number of years, or for several generations, or if the family has been active in the local community, consider using the name to identify your company. Keep in mind that the family name should be easily remembered and spelled. In the unlikely event that your family name is the same as another family in the area that has already used the name for their business, consider other options so as to avoid confusion.
While identification with your family can be an advantage, this idea can become a disadvantage if the company is sold. The new owner would have a difficult decision in keeping your family’s name or renaming the company while losing that recognition and thereby being thought of as a new, upstart company in the area. If your family name is highly recognized, there are instances where the name could be sold as an asset of the company if the new owner desired this long-established and esteemed name.
Naming your company using your first name brings less familiarity to the customer. While the last name may be rather unique in the community, your first name could be shared by a large number of people in the area. If your business is sold, would the new owner find value in retaining the name?
Our research shows that, generally speaking, it is best to choose a name that indicates what you do over most owner names for marketing and advertising purposes. The uncertainty of continuing use of the name at the time of sale can also be a concern, as previously discussed.
GETTING STARTED
Creative ideas can come from multiple sources. Invite others to participate in this process as well.
• IDENTIFY THE NAMES OF ALL COMPETITORS IN YOUR LOCAL AREA AS WELL AS YOUR STATE – Your company name should be unique.
• BRAINSTORM – Write down names that immediately come to you without judging the quality or the validity of each name. Some names may spur other ideas as well.
• CONSULT A THESAURUS – An online tool that can add even more words with similar meaning to your list of possible names.
• MAKE A LIST OF TOP CHOICES – Review all of your possible names and make a list of your top choices. Solicit feedback from your top choices as well.
Next, examine trademark infringement issues.
With each possible company name you generate, consider if that name is identified with other companies, products or images that are trademarked. Company names or logos that either match or clearly reference established corporations or organizations should be avoided at all costs. Fortune 500 company names, popular advertising slogans, celebrity names, movie and television show names, cartoon characters and sports teams and their mascots are examples of organizations that will take legal action against those who infringe on their trademarks. There are many more unique ideas to choose from as opposed to the risk of being sued for trademark infringement.
WE CHOSE ‘PIT STOP’
Here are our thoughts and ideas concerning our company name which may help in generating ideas for your name.
Our company was named “Pit Stop Sanitation Services, Incorporated” and was in business from 1995-2017. Our name had dual meanings. Being a longtime race fan, “pit stop” is a term closely associated with racing and highly recognized. “Pit Stop” is also a phrase commonly used for needing to use the restroom. “Sanitation Services” referenced our industry so as not to be confused with convenience stores, tire shops and a pizza parlor that shared this name.
From an advertising perspective, we choose black and white checkerboard as a border for our logo. The checkered flag is waived for the winner of a race, and the inference was to select a winning company for your portable sanitation needs. Our unit decals, which we displayed on all three outside walls, had the checkered flag border around the Pit Stop name, phone number and website.
FINAL THOUGHTS
Your company’s name is important. Through your hard work and dedication, this name will project the image of professionalism and represent outstanding customer service to customers in your market. Select a great name and have that name symbolize an extraordinary company.
Next month, we will address promotional taglines and the importance of using the correct corporate designation with your company name and marketing materials.
