Pop quiz! What do the names Paramount, Fox, MGM and Pixar have in common? If you immediately thought of Hollywood movie studios, you’d be correct. An energy company in Canada has also branded their different lines of business with these famous monikers, using Paramount Resources as their parent company, which has significant investments in the MGM Energy corporation. They also have holdings in Fox Drilling company. Recently they gained international attention when named their newest endeavor Pixar Petroleum corporation.
While this might seem like taking a theme to the extremes, it’s not uncommon for companies to choose L.L.C. names that go the unconventional route, as was the case for Cogswell Realty in New York. Inspired by the competitive environment between Spacely Sprokets and Cogswell Cogs in the hit 1960’s cartoon The Jetsons, the founders chose to name their company Cogswell, as he always seemed to be one step ahead of the competition. They kept the theme and have since developed “Judy, L.L.C,” “Astro, L.L.C” and “Elroy ,L.L.C.”
Often a customer’s first impression can be derived straight from a business name, and can serve as a powerful marketing tool. Jeanne Smiczek, a huge 1980’s movie buff, had dreamed of opening her own flower shop, and saved for 13 years to make her dream a reality. She channeled her inner Marty McFly and named her shop “Back to the Fuschia.” The name alone prompted interviews and lots of local media buzz. Because Teleflora and other online floral distribution sites can easily differentiate her store from many in the area, she has an edge when it comes to connecting with mass chain floral distributors. She has seen her sales grow, on average, 40 perfect year-over-year.
A name change can also sometimes have a significant payoff. Such is the case with Big Ass Fans. This company went by the seemingly dull name of HVLS Fan Co., derived from their promise to offer “High Volume, Low Speed Fans.” However, after a few years in business, the company made a bold decision to change their name after customers kept calling to ask if they were the ones who made those “big-ass fans.” The name paid off: Since opening their doors in 1999, the company has now grown to more than 900 employees and exceeded $300 million in revenue in 2016.
Sometimes the names are just a happy accident. Boxwell Brothers Funeral Directors in Amarillo, TX had no plans for a marketing edge when they named their business. The family that owns the business is actually the Boxwells. The irony of their name has made them well-known on a national scale, they were even featured in an episode of “Ripley’s Believe it or Not.”
While deciding on the name of your small business might not require expert planning, there are many steps in setting up a small business that shouldn’t be left to chance. The team at LexLaunch.com is committed to providing a strong foundation for small businesses. Have you spoken to a legal representative to decrease risks and protect your business? If not, make it a goal to call the experts at LexLaunch.com today at (816) 434-6610 or click here for more information.