When it comes to setting up a vending business you will have to come up with a suitable name to represent your company.
In the vending business it is important to build a brand just like it is in any other industry and a great business name is the cornerstone of any brand. Over time the reputation that you build up in your name will be able to help you to win more locations and to do more machine turnover if the name is recognized by consumers.
Many entrepreneurs leave the naming of their business to the last minute and don’t give it the attention that it deserves. The following article offers some advice for how to go about the naming of your vending business.
Firstly, it is important to think ahead about what your business may grow into one day. Naming your vending business after yourself as the owner will make the name no longer relevant if you end up selling your business. Including the city, town or geographic area that you serve as a part of your name can also end up as a liability if you wish to expand beyond your original region. Some vendors incorporate the name of a charity that they represent into their business name and while this can help immensely with branding and marketing it can backfire if you have a falling out with the charity for some reason and are no longer able to work with them. Choosing a name that defines your product lines can also be limiting if you hope to diversify your range of products and machines in the future. Try to come up with a name that is flexible and will allow you to move in any direction that you want in the future.
Another approach to naming is to try and convey a message. By using specific wording in the name you could suggest that your company provides fresh products, regularly services machines, caters to all customer tastes or that your machines are reliable.
Look at the names of all your local competitors in vending section of the Yellow Pages and online and make sure that the name you want is not to similar to theirs. Think of something that is truly unique and you will have a better chance of standing out and being remembered.
Your chosen name should be available to register and not already taken by any other company and you should also check out some suitable domain names for any future website that you may want to have and register one as soon as you have made a decision.
Make sure that your name is simple to pronounce and that it can be clearly understood over the phone. Run a few of your shortlisted names past your friends and family and then test them a few days later to see which ones they could remember and which ones they were able to pronounce correctly.
A lot of value or goodwill will be built up in your name over the years so it is important that it can continue to serve you well into the future. Changing your name can be a branding nightmare so it is important that you choose a good name first time round.
Get your vending business off to the best possible start by coming up with a practical, flexible and effective name that can help to grow your business into a recognizable brand.