Naming a Business for Multiple Markets
Naming a Business for Multiple Markets
Author
Discussion

Splats

Original Poster:

625 posts

193 months

Friday 8th April 2016
quotequote all
I'm probably over thinking this, but I'm about to register my first ever limited company and I'm struggling to name it. The issue is that I have built a number of websites, contacts and processes that could lead to sales and, one day, fulfilment within a number of different market places. At the moment I'm leaning towards linking them via a singular and simple term so that I can build something of a group brand. We'll use my username [Splats] as the functioning example of this word.

So, off the bat I will have websites and therefore trading names for the following:

Splats Energy - specialising in energy (mostly renewable) consulting to domestic clients. Aspirations to develop into MCS accredited company.
Splats Stoves - specialising in supplying and installing multi-fuel stoves.
Splats Bi-Folds - specialising in supplying and installing aluminium bi-folding doors.


To begin with, many of the functions will be sales only. Splats Energy will negotiate sales that will be fulfilled by established and reputable MCS accredited companies. Splats Stoves will sub-contract to a HETAS approved installer and Splats Bi-Folds will effectively buy a manufactured product at trade, apply mark-up and supply and/or fit to domestic clients.

If that wasn't complicated enough, the manufacturer of the bi-folds does a number of other products that would lend itself well to "Splats Home Improvements" - supplying and fitting windows, doors, conservatories.... that sort of thing.

At first I planned to register 2-3 limited companies and get going but my accountant suggested that's too much cost and admin at this early stage and I'd be better to register just one limited company and "trade as" to tie in the various functions. That way I can add/drop areas of the business that don't work and alter as I go. That makes a lot of sense but I still have some doubts and can't decide on what to call it.

At the moment I lean towards "Splats Services" because it pretty much covers everything and can mean anything. It shouldn't raise any red flags for customers or suppliers when they see it at the bottom of invoices, etc. I've also considered "Splats Home Improvements" since across all business functions I'm mainly dealing with domestic clients. I'd appreciate suggestions or input on whether a generic name of this nature will actually matter.

As regards my reservations, I guess I'm slightly concerned that as I progress I'll want to get my own various industry accreditations (MCS, HETAS, etc). These would apply to the Renewables and Stoves side of the business but not Bi-Folds or general home improvements. I appreciate it's a problem for tomorrow, but I don't want to do something stupid today that creates major headaches in the future. I guess, worst case scenario, if I felt in the future it merited splitting off Splats Energy to be it's own entity, I'd just have to re-apply for the accreditations in that new companies name and accept the cost of doing so.

Thoughts/input on all this appreciated. It's all new to me and probably old hat to you guys but we've got to start somewhere biggrin

Doofus

34,576 posts

204 months

Friday 8th April 2016
quotequote all
Just call it Splats, and use a strapline to elaborate as appropriate.

Naming a company too specifically can bite you in the arse later on if you want to diversify. You've considered this, but "Splats Services" doesn't say anything - accounting services? decorating services? massage services? "Splats Home Improvements" kind of precludes you from a trade marketplace if thats where you decide to go in the future.