Naming the Business

12 Replies

We are just starting out as investors, and want to focus mostly on rehabbing and wholesaling.  

It's time to set up our LLC, and we need a company name. I've read quite a bit about it, and it seems to me that it is better to use a more generic name (I was thinking simply PPS LLC), and use a DBA if we want to be more descriptive. What should the domain for our website be in that case?

I appreciate any advice those of you who are more seasoned can provide on this subject.

@Paula Shaheen

I normally name the LLC whatever name I am never really concerned about it really the more vague the better. I am more concerned about the company name more than anything else or the dba.

Your brand is very important and most rehabbers just don't really ever do anything with it. Because we were going to focus on flipping houses we actually went with a name that had more to do with design or custom building if you will. We were more concerned about what the end buyer or retail buyer thinks about us rather then the company I was buying the house from. 

Hope that makes sense, of course that dba name also needs to be your domain. In closing, your brand is very important don't over look it.

AC


@Paula Shaheen   

Well I'm going to disagree.

Your name should help your SEO.  Search Engine Optimization.

So if you are in Hollywood FLA I would STRONGLY suggest,

BUYERS WHOLESALE www.HollywoodFLWholesaleDeals.com

SELLERS www.HollywoodFLPropertySolutions.com (We Buy Cash and Terms)

PRIVATELENDERS www.HollywoodFLInvestments.com (Private IRA Loans)

And see

http://www.biggerpockets.com/forums/92/topics/1188...

http://www.biggerpockets.com/forums/80/topics/1219...

@Trevor Mauch might want to chime in here.

Hi Paula,

Great questions. Since you have already decided on the name of your LLC, PPS, LLC, great. The name of your domain for a website does not have to match the name of your LLC. When you start to brand your company, you may want to choose a name that is more descriptive and memorable.

Building your brand over time will include logos, tag lines, marketing materials, etc., so it is great to go with a name you like and can see as a major brand down the road.  Have fun with creating your "brand".  Stick with your decisions and build from there.  You'll find it much easier to proceed confidently if you trust your own decisions and do not change them easily.

Hope this helps.

@Brian Gibbons

I do love SEO as it is one of the most important things inside of business especially in todays market. 

But above I am more talking about building a brand. A brand transcribes feelings or emotions about a certain company or brand. The brand does not say what we do and what we are trying to accomplish. Again, I fully understand seo and the importance of it, but as I am sure you know there are literally 100's upon 100's of things that you can do for seo beside name your company exactly as to what you do. 

Example:

If I say "Rolex" we have a feeling about that Brand. But the Brand does not say what it does.

If I say "Apple" we have a feeling for those computers good or bad we have a feeling. 

If I say "McDonalds" we have a feeling but again the name does not say what McDonalds does.

What if McDonalds were to name itself "I sale Hamburgers in Orlando FL.com" just because they wanted a little SEO...

Brand = Associative Memory

@Paula Shaheen

What do you want YOUR CUSTOMERS to feel when they see or hear your company name? Meaning, I would pick a one word that I want my customers to feel then build a brand around that word. In my area we flip houses and I mean we flip a lot of houses. The ONE word I wanted my buyers to FEEL was the word "Custom" if I could make my retail buyers feel like they were getting a "Custom" home they would pay more for it. So I named my company and built my RE brand around that feeling. Remember, people will follow or "buy into" a feeling-- not a company name, but to have a feeling you have to have a brand, and to have a brand you have to have a feeling. THEN like @Brian Gibbons is talking about I added a ton of SEO to my site to drive traffic to my site, I just didn't want to give up my brand for a little SEO when I can build a brand an add 99 more SEO tricks to my site. 

Hope that helps a little. I could literally talk for hours upon hours about Branding. (and actually have talked about branding for several days in a row in classes)

AC

@Paula Shaheen

One more thing I just thought of...

Branding is NOT Marketing

Marketing is NOT Branding.

Think of it this way, pretend you brand is the center of a bicycle tire and all the spokes are marketing tools that are driving everything to your brand in the center. 

So Build your Brand then market to drive your customers to your brand. 

AC

Andrew I get it

Innovative property group LLC is my company name

REISkills.com is my brand

Those folks here need something simple

In my view you got to keep it simple or starve in this business

Real estate investor should have something that sounds like they're solving problems and they have solutions

A bad name is something not clear or kind of silly like beautiful properties LLC it's kind of emotional and not clear

People always do with their heart tells him to do instead of perhaps thinking how can the public really remember my name?

In the Silicon Valley most of the startups choose a name that has a domain name available. This way their name and web site match. For real estate, this may not be required but for a Silicon Valley startup this is a requirement.

Sometimes they come up with very strange names and/or misspelling of common words. The most famous example of this is Google whose name came from Googol (see: http://en.wikipedia.org/wiki/History_of_Google#Name)

@Brian Gibbons

Well I'm going to disagree.

Your name should help your SEO. Search Engine Optimization.

So if you are in Hollywood FLA I would STRONGLY suggest,

BUYERS WHOLESALE www.HollywoodFLWholesaleDeals.com

SELLERS www.HollywoodFLPropertySolutions.com (We Buy Cash and Terms)

PRIVATELENDERS www.HollywoodFLInvestments.com (Private IRA Loans)

I agree!

And SEO isn't everything, it's the ONLY thing!

Thank you everyone for this great advice!  @Andrew Cordle - I'm a former marketer and worked in the branding world for a while, so I know exactly what you are saying! I wanted to make sure it was possible to break it down like that (more generic LLC name, and then brand under something more creative and memorable), and your answers tell me it is. I'm eager to get going. Thanks again.

Originally posted by @Paula Shaheen :

We are just starting out as investors, and want to focus mostly on rehabbing and wholesaling.  

It's time to set up our LLC, and we need a company name. I've read quite a bit about it, and it seems to me that it is better to use a more generic name (I was thinking simply PPS LLC), and use a DBA if we want to be more descriptive. What should the domain for our website be in that case?

I appreciate any advice those of you who are more seasoned can provide on this subject.

This might help you:

http://www.biggerpockets.com/forums/109/topics/83370-how-do-you-name-your-llc-to-add-the-most-value

:)

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