1. Naming Your Business

2. Let’s Review What is a Business Plan? Who looks at a Business Plan?
A written proposal addressed to potential lenders and investors.
Describes a new business and tells why it is deserving of financial support
Who looks at a Business Plan?
Potential lenders or investors

3. Let’s Review
What are the two main factors you must look at when developing a business?
Demand
Needs to be a demand for the business
Competition
Need to find a way of separating yourself from your competition

4. Naming Your Business Tips for creating a good business name:
Start with positioning
Use a name that will appeal to your target market
Selling quality, at an affordable price (Best Buy)
Keep is short, simple and easy to remember
Short names are easier to remember
Catchy
Be creative, not generic
Should describe what your business does
Give the customers an idea as to what is unique about the business.

5. Good Business Names Renuzit by Glade™ Simple and Short Catchy
Tells the customer what
the product does

6. Good Business Names 2nd Swing Golf – Brookfield, WI
Store specializing is selling used golf equipment.
Makes it obvious as to what type of products are sold
“2nd Swing” gives the idea of used equipment.

7. Good Business Names Java Jams Java Jams (Student Business Plan)
Music store and coffee shop
Short
Catchy
Describes the uniqueness
of the business
Java Jams

8. Good Business Names The Sub-Marina
The Sub-Marina (Student Business Plan)
Restaurant specializing in
sub-sandwiches
Building is an old
renovated boat located
near the lakefront
The Sub-Marina

9. Good Business Names Dessert Oasis Destination Unknown Fine Dining
Specializing in desserts
Destination Unknown Fine Dining
Restaurant divided into four major sections, each decorated as a different part of the world.

10. Naming Your Business What you want to avoid: Hard to pronounce names
Customers get frustrated trying to remember a store name
Generic Terms or Phrases
Depot, -O-Rama, etc.
Trademark or Copyright Infringement
Example: McDougal's Restaurant
Personal Names
Theirl Sporting Goods

11. Naming Your Business
A good business name should be able to answer most of these questions:
What type of business is it?
What are the distinguishing characteristics of the business?
What benefits does it provide to customers?
Hartford Quik Lube Oil Change
Represents fast service

12. Work Time Customer Profile (Due Today) Create three potential names
Follow the guidelines discussed in class
Design three potential logos for your business
Computer generated, needs to be replicated