For many entrepreneurs, choosing the right name for an LLC is one of the most important tasks. You need to find a name that is unique, memorable, and complies with the guidelines of your state’s LLC regulations.
Some states have restrictions on specific words such as bank, insurance and government.
1. Be Specific
When choosing a business name, it’s important to think about what kind of message you want to send to customers. For example, if you want your LLC to be seen as authoritative in the industry, you may consider having some of that in your name.
Another important thing to consider is how the name will fit with your web presence. For example, you want to ensure that a matching domain name is available. You can check this by searching on Godaddy.
Lastly, you need to make sure that your name is compliant with state naming laws. These rules vary from state to state, but in general, you cannot include words that suggest that your LLC is a type of entity other than an LLC (e.g., “bank” or “insurance”).
Instead, you should add one of the LLC designators (“LLC,” “Limited Liability Company,” etc.). You also cannot use any word that implies your LLC is a corporation, such as “Corp,” or “Inc.” This is important because it can create legal problems down the road.
2. Be Unique
The name you choose for your LLC can’t be the same as another company’s name that is already registered with your state (though a few states allow some small changes to a name to distinguish it). You must also make sure that the name doesn’t imply that the business is a licensed professional, such as an attorney, doctor or engineer, which would require additional paperwork and approvals.
Your business name should be unique in a way that is meaningful to your company and its customers. For example, “Boise in the Hood Custom Sweatshirts LLC” may sound clever, but might not convey a sense of fun if the company grows beyond the local area.
You should do a quick check of your proposed LLC name in the database of the filing agency in your state. In addition, you might want to search on social media and company websites to make sure that the name isn’t in use elsewhere.
3. Be Memorable
Your LLC name is one of the first things your customers will learn about your business. It should be something that they remember easily, so when they need your services or products again in the future, they will remember your name and know exactly where to go. It should also tell them a bit about your business and the kind of services you provide, which will help to build trust and customer loyalty for your brand.
It should also be able to stand the test of time. If you choose a name that is too product or location specific, it may hinder your ability to expand into other markets in the future.
Finally, it should be able to fit in your state’s guidelines for business names. This typically means containing the phrase “limited liability company” or an acceptable abbreviation, and not using special characters or punctuation. It should also be easy to pronounce and spell.
4. Be Flexible
When you are naming your LLC, you want to make sure it fits with all other aspects of your business. This includes making sure you can get matching domain names and social media handles. There are bots that purchase domain names shortly after a new company files for an LLC and then sell them at thousands of dollars, so be proactive and grab them yourself.
You also want to be flexible with your company name so that it can grow as you do. It may be a great idea to incorporate some of your company values into the name. This helps customers understand more about the company and can set it apart from competitors.
Remember, a good company name is one that people can pronounce and spell easily. It’s also something that people will be able to remember and recommend to their friends. So, take some time and think about how you can create a memorable company name.