Naming a new business

[scratch pervert]

Hi guys,

I'm looking at setting up a small financial services firm and struggling to think of a name for the business. We will be dealing with mainly mortgages and the related insurance products.

Any ideas on where I can get some assistance with this?

[jamesuk28]

Scratch Pervert LTD

[Glassman]

How will you be different from others?

Do you want to be recognised as a family-run business / SME / and/or a professional outfit?

[scratch pervert]

haworthlloyd1 said:

nothing silly - just call it a professional name. good luck with the business

Thanks mate

[scratch pervert]

Glassman said:

How will you be different from others?

Do you want to be recognised as a family-run business / SME / and/or a professional outfit?

The main image I want to present is that of a professional outfit that seems like a larger firm than it actually is.

I didn't really want to go down the 'smith & co financial services' road if I can find a name thats a little more interesting. Am I wrong to dismiss this?

Edited by scratch pervert on Monday 18th August 12:56

[Glassman]

scratch pervert said:

Glassman said:

How will you be different from others?

Do you want to be recognised as a family-run business / SME / and/or a professional outfit?

The main image I want to present is that of a professional outfit that seems like a larger firm than it actually is.

I didn't really want to go down the 'smith & co financial services' road if I can find a name thats a littel more interesting. Am I wrong to dismiss this?

Much depends on how you advertise/brand/market your corporate identity. Many people think that my company is larger than what it is, or that it is part of a franchised arrangement. Some feel that it may work against me as some people think the services look expensive. But, asides from that being somewhat untrue, they're not the kind of customers I'm looking for.

List word, phrases and qualities you envisage about your business. the more you can put into the picture, the clearer your name will become.

[siwebster]

Whereabouts are you in the Midlands? We are a design and marketing agency based in Lichfield and we specialise in branding and corporate identity. Have a look at our site - www.at-u.com - and feel free to get in touch if you want any further advice or information.

Cheers

Simon

[JustinP1]

scratch pervert said:

Glassman said:

How will you be different from others?

Do you want to be recognised as a family-run business / SME / and/or a professional outfit?

The main image I want to present is that of a professional outfit that seems like a larger firm than it actually is.

I didn't really want to go down the 'smith & co financial services' road if I can find a name thats a little more interesting. Am I wrong to dismiss this?

Edited by scratch pervert on Monday 18th August 12:56

Why not think outside the box whilst you have the chance.

There are thousands of sole trader financial services and mortgage guys out there all trying to look the same size as the medium/small size company they just jumped ship from to start up themselves.

If you want to be the same as all the rest then you take your odds that Customer A is going to pick you over the rest of the sea of companies who 'look big' because they are big and will always beat you on advertising spend etc. Thats a bad start.

Why not go with the honest, personal approach, and attract that niche of people who are looking for that?

You will get more business that way by being honest and getting 1% of that niche rather than getting 0.001% of the big pond with the rest of the similar guys doing the same thing.

Sell your assets you have rather than pretend to have assets you don't. My advice would be to put your name and probably even your face to it. Get business and keep it because the customer knows they are dealing with and trusting YOU and no-one else.

[ginettag27]

JustinP1 said:

scratch pervert said:

Glassman said:

How will you be different from others?

Do you want to be recognised as a family-run business / SME / and/or a professional outfit?

The main image I want to present is that of a professional outfit that seems like a larger firm than it actually is.

I didn't really want to go down the 'smith & co financial services' road if I can find a name thats a little more interesting. Am I wrong to dismiss this?

Edited by scratch pervert on Monday 18th August 12:56

Why not think outside the box whilst you have the chance.

There are thousands of sole trader financial services and mortgage guys out there all trying to look the same size as the medium/small size company they just jumped ship from to start up themselves.

If you want to be the same as all the rest then you take your odds that Customer A is going to pick you over the rest of the sea of companies who 'look big' because they are big and will always beat you on advertising spend etc. Thats a bad start.

Why not go with the honest, personal approach, and attract that niche of people who are looking for that?

You will get more business that way by being honest and getting 1% of that niche rather than getting 0.001% of the big pond with the rest of the similar guys doing the same thing.

Sell your assets you have rather than pretend to have assets you don't. My advice would be to put your name and probably even your face to it. Get business and keep it because the customer knows they are dealing with and trusting YOU and no-one else.

Agree with the above, indicating that you are bigger than you are could be detrimental to gaining new customers.

[scratch pervert]

JustinP1 said:

scratch pervert said:

Glassman said:

How will you be different from others?

Do you want to be recognised as a family-run business / SME / and/or a professional outfit?

The main image I want to present is that of a professional outfit that seems like a larger firm than it actually is.

I didn't really want to go down the 'smith & co financial services' road if I can find a name thats a little more interesting. Am I wrong to dismiss this?

Edited by scratch pervert on Monday 18th August 12:56

Why not think outside the box whilst you have the chance.

There are thousands of sole trader financial services and mortgage guys out there all trying to look the same size as the medium/small size company they just jumped ship from to start up themselves.

If you want to be the same as all the rest then you take your odds that Customer A is going to pick you over the rest of the sea of companies who 'look big' because they are big and will always beat you on advertising spend etc. Thats a bad start.

Why not go with the honest, personal approach, and attract that niche of people who are looking for that?

You will get more business that way by being honest and getting 1% of that niche rather than getting 0.001% of the big pond with the rest of the similar guys doing the same thing.

Sell your assets you have rather than pretend to have assets you don't. My advice would be to put your name and probably even your face to it. Get business and keep it because the customer knows they are dealing with and trusting YOU and no-one else.

Thanks for the interesting reply mate, I'll have to give that some thought

[evo801]

What exactly is your business about, is it a niche?

Let me know, i'm creative with business names.

[scratch pervert]

Daniel you have PM

[Simpo Two]

scratch pervert said:

I'm looking at setting up a small financial services firm

'We Make Money Even If You Don't, Ltd'?

[scratch pervert]

Simpo Two said:

scratch pervert said:

I'm looking at setting up a small financial services firm

'We Make Money Even If You Don't, Ltd'?

hilarious.... not

[KingRichard]

JustinP1 said:

scratch pervert said:

Glassman said:

How will you be different from others?

Do you want to be recognised as a family-run business / SME / and/or a professional outfit?

The main image I want to present is that of a professional outfit that seems like a larger firm than it actually is.

I didn't really want to go down the 'smith & co financial services' road if I can find a name thats a little more interesting. Am I wrong to dismiss this?

Edited by scratch pervert on Monday 18th August 12:56

Why not think outside the box whilst you have the chance.

There are thousands of sole trader financial services and mortgage guys out there all trying to look the same size as the medium/small size company they just jumped ship from to start up themselves.

If you want to be the same as all the rest then you take your odds that Customer A is going to pick you over the rest of the sea of companies who 'look big' because they are big and will always beat you on advertising spend etc. Thats a bad start.

Why not go with the honest, personal approach, and attract that niche of people who are looking for that?

You will get more business that way by being honest and getting 1% of that niche rather than getting 0.001% of the big pond with the rest of the similar guys doing the same thing.

Sell your assets you have rather than pretend to have assets you don't. My advice would be to put your name and probably even your face to it. Get business and keep it because the customer knows they are dealing with and trusting YOU and no-one else.

There is a bloke in Ashford who's a one man band estate agent. Now, everyone that I know who opened their own estate agency (and I know quite a few...) always named it something like Green Property UK, or Billy Large Poatato's Doo-dah and partners. Basically trying to be something they are not, and then having to compete with the big boys.

I struggle to recall the guys name, but he puts his (None too pretty) face and the strapline 'Another home sold by Barry Scott!' on every board. Cheesy as fk but it works

Sometimes you've just gotta think outside of the box

When I used to sell FS, prospects would always come into my office (part of a massive estate agency chain) expecting to get shafted because that's the reputation of the industry... when I moved to a smaller practice, all those prejudices fell away.

I'd go with Justin's suggestion to use as small a name as you can. Even 'Independent Mortgage Advice by Joe Bloggs'. Work on building relationships with Estate Agents, Letting Agents and developers. Maybe even get onto the local housing association... I used to do tons of shared ownership mortgages.

Then when you get hold of a lead, work on the basis that you can devote more time to their case and really make sure it's right for them etc.

You can even use this business model as you expand, by having brokers work under your group umbrella (XYZ Financial Services for compliance) and they can trade as Jim Davidson, Billy Bragg, Derek Trotter etc etc...

Just a few ideas, good luck
Oh, and give Insurance Jon a shout about Professional Indemnity insurance and all that caper

[scratch pervert]

KingRichard said:

JustinP1 said:

scratch pervert said:

Glassman said:

How will you be different from others?

Do you want to be recognised as a family-run business / SME / and/or a professional outfit?

The main image I want to present is that of a professional outfit that seems like a larger firm than it actually is.

I didn't really want to go down the 'smith & co financial services' road if I can find a name thats a little more interesting. Am I wrong to dismiss this?

Edited by scratch pervert on Monday 18th August 12:56

Why not think outside the box whilst you have the chance.

There are thousands of sole trader financial services and mortgage guys out there all trying to look the same size as the medium/small size company they just jumped ship from to start up themselves.

If you want to be the same as all the rest then you take your odds that Customer A is going to pick you over the rest of the sea of companies who 'look big' because they are big and will always beat you on advertising spend etc. Thats a bad start.

Why not go with the honest, personal approach, and attract that niche of people who are looking for that?

You will get more business that way by being honest and getting 1% of that niche rather than getting 0.001% of the big pond with the rest of the similar guys doing the same thing.

Sell your assets you have rather than pretend to have assets you don't. My advice would be to put your name and probably even your face to it. Get business and keep it because the customer knows they are dealing with and trusting YOU and no-one else.

There is a bloke in Ashford who's a one man band estate agent. Now, everyone that I know who opened their own estate agency (and I know quite a few...) always named it something like Green Property UK, or Billy Large Poatato's Doo-dah and partners. Basically trying to be something they are not, and then having to compete with the big boys.

I struggle to recall the guys name, but he puts his (None too pretty) face and the strapline 'Another home sold by Barry Scott!' on every board. Cheesy as fk but it works

Sometimes you've just gotta think outside of the box

When I used to sell FS, prospects would always come into my office (part of a massive estate agency chain) expecting to get shafted because that's the reputation of the industry... when I moved to a smaller practice, all those prejudices fell away.

I'd go with Justin's suggestion to use as small a name as you can. Even 'Independent Mortgage Advice by Joe Bloggs'. Work on building relationships with Estate Agents, Letting Agents and developers. Maybe even get onto the local housing association... I used to do tons of shared ownership mortgages.

Then when you get hold of a lead, work on the basis that you can devote more time to their case and really make sure it's right for them etc.

You can even use this business model as you expand, by having brokers work under your group umbrella (XYZ Financial Services for compliance) and they can trade as Jim Davidson, Billy Bragg, Derek Trotter etc etc...

Just a few ideas, good luck
Oh, and give Insurance Jon a shout about Professional Indemnity insurance and all that caper

Thanks for the reply mate... points noted :-)

[scotal]

Are you going the AR route or DA?

Do you intend staying small, and building organically, or going for a large business asap?
Does the name need to reflect location, or does it need to be transferable. (i.e Birmingham mortgage Ltd may not work so well in Nottingham) Are you working from your own shop front, or above/ inside EA's?
Are you looking at a particular part of the market, ie adverse? If s do you want to wokr that through your name, orwill that potentially limit you
Is there something about your business that sets you apart from other Financial Services firms in your area