5 Top Tips for Choosing Your Retail Business’ Name
As an entrepreneur, having a memorable retail business name is critical. The right name can be a brand’s most valuable asset, allowing it to stand out and gain acceptance faster. Over the course of a brand’s lifetime, a bad name can cost a lot of money in workarounds and lost revenue.
When opening a retail store, either on or offline, it’s critical to choose the right name to help it stand out from the crowd, both in terms of branding and search engine optimization. Here are some suggestions for coming up with a memorable name.
- Keep it short and simple
A short, memorable name is beneficial for several reasons: it is memorable, easy to pronounce, and easily fits in the header of your online store’s homepage.
Finding a good name, on the other hand, can be difficult. Every day, new brands are introduced, and names that appeal to you will undoubtedly appeal to others as well. Fortunately, the world is a big place, and there’s plenty of room for unique, memorable brand names.
Here are a few strategies you can try to get your gears turning:
Experiment with different word combinations. More memorable are two short words that rhyme or are alliterative (e.g., “Snack Shack”).
Make up a new word or change an old one. Even though their names aren’t real words, tech companies like Google, eBay, and Skype have instantly recognizable names.
Use a word that has a personal meaning for you. It could be a nickname for your significant other, the name of your pet (a good idea if your store caters to furry friends), or even your own name. Using a personal name makes your store easier to recognize—though keep in mind that personal brands are more difficult to sell.
- Be different
Conduct market research to find out which names are already being used by your direct competitors and come up with something unique.
The trick is to come up with a name that reflects your niche and the types of products you’re selling without sounding like your competitors. By definition, if you want to stand out, you must “zig” when everyone else “zags.”
- Consider your online presence
Once you’ve narrowed down your options for a store name, see if your preferred domain—preferably a.com—is available for registration. Given that.com is the most popular top-level domain (TLD) and has been for a long time, this may be difficult.
Having a custom domain name for your store is essential, but don’t let your search for the mythical “perfect” domain name cause you to delay—everything, including your domain name, is subject to change. However, there is value in choosing a strong domain name that accurately represents your brand from the start, so it’s a decision worth considering.
In addition to your own online store, you might consider selling on Amazon, eBay, Etsy, or another third-party marketplace. Even if that isn’t the plan, it’s a good idea to check your business name idea on popular ecommerce sites to make sure it’s available and that customers don’t mix you up with another company.
- Get creative with your domain name
If the.com for your desired name isn’t available, don’t worry; you can still use a different top-level domain. The fact that everyone recognizes.com makes it the gold standard, but that doesn’t rule out other TLDs, which are becoming more common as great.com options become scarce.
- Use a Business Name Generator
If you are really stuck for inspiration for the right name for your retail business, try making use of a business name generator. There are lots of them out there, many are free and at the very least hey may help spark your own imagination even if they don’t spit out the best business name automatically.