The other night I watched one of those “Christmas in July” (Hallmark) type of movies. The main character had just moved back to her hometown after her bakery business failed in the city and after she and her fiancé broke up. She was trying to figure out what she should do to get back on her feet when someone suggested she sell Christmas cookies at her town’s Christmas Festival. She and her 15-year-old niece walked into their local candy store and started ordering candy for baking. When the candy store owner asked her for the name of her business, to place on the order form, the two started brainstorming and shouting out random business names. After a couple of minutes, they produced the perfect name. Typical Hallmark movie!
I looked over at my husband and said – “If only finding a business name had been that easy!”
It took me days to come up with a name. I researched, checked a business name generator, asked my family for help, checked with Chat GPT and looked through Sunbiz.org. Every name I liked was already registered.
After a few days of this, I finally made a decision. Next, I obtained my LLC and applied for an EIN number. It was extremely exciting to finally have a business name and then we celebrated.
But the excitement did not last long. When I tried to obtain the Domain name (for my website), it was already taken. I was devastated and lost a few days of sleep over it.
After speaking to a SCORE mentor, I decided to change the name which entailed paying additional fees, filling out actual paperwork, mailing it to the State and waiting 8.5 weeks to receive confirmation that the name had officially changed. It was stressful.
I was a total newbie to starting a business or to anything business related and that was why this happened to me. I survived it and learned a few lessons from my mistakes. Lessons that I hope will help you.
For anyone out there who is a newbie like I was, here are five steps I recommend you take to find and secure your business name and avoid this from happening to you.
1. Have fun figuring out what you want to call your business. It should be fun. This is an exciting time in your life as you take the steps to do something you have always wanted to do or feel called to do. If you find yourself struggling to decide, give yourself a deadline and just make a decision.
2. Search the internet FIRST to see if there is already an existing URL (a website or domain) for the business name you choose. To do this, go to the host you want to use (i.e., Bluehost, GoDaddy, HostGator, etc.). Click on “Domains” and enter the business name you have chosen. It will give you a list of names available or it will say the name is not available but will give you options for the business name with other extensions (.net, .org, etc.). Having the domain name protects your business name on the internet.
3. Search your state’s directory to see if the business name is available or if it has already been registered in your state by someone else. Registering with your state protects your business name in your state.
4. Go to the IRS website https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online to apply for an EIN (Employee Identification Number) for your new business name. Some say you do not need an EIN number to start your business. Here is an article that may help you decide whether obtaining an EIN is right for you and your business https://howtostartanllc.com/what-is-an-ein/7-benefits-of-getting-an-ein.
FYI: I searched both the domain and the state to make sure I could use the same business name for both and was successful the second time.
5. Finally, another lesson I learned throughout this process was that “Everything is Figureoutable”… Marie Forleo, and it is not worth losing sleep when something goes wrong. Try not to stress out. You will get there!
Now have fun choosing your new business name!