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Business name

Discussion in 'Business Management' started by speedneeds, May 13, 2010.

  1. speedneeds

    speedneeds Member

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    Jan 29, 2007
    Kentucky
    I am looking for help in making a decision on my company name. The current name is Speed Needs, Inc. This name originated out of my other business of auto repair. I started Speed Needs as a high performance parts sales company that I actually hauled parts in a trailer to local race tracks and sold on site. My wife came up with the idea of also selling t-shirts and other items also. So we purchased the equipment to do sublimation on site and started taking photos and selling that stuff also.

    Well as the company had idle time during the off season we would sell any thing we could in the printing side. We got several request for team shirts and the like and we bought a CE5000-60 and started doing vinyl lettered tees. The vinyl lettering on tees migrated into us doing signs. We hooked some corporate accounts and that led to promotional products and business cards and such.

    As the signs and printing took off the performance parts fell by the wayside and is no longer a part of our business. We no longer sell on site due to having the business come to us and not actually having time to make it out to the tracks.

    My wife and I both like the name but are just having a hard time marketing it. It seems that we have to explain the name to every customer, because the majority of our customers now have no idea it started as a performance parts dealer.

    I guess what I am looking for is would it be better to change the name or work with what I have.
     
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  2. SignManiac

    SignManiac Major Contributor

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    If you're fairly well established already, leave it as is but down play it and incorporate signs or design, or something more descriptive with it. Call yourself Speed Needs Signs or Speed Needs Advertising.

    Name sometimes doesn't matter at all as in my case. My business name is Skywatch Signs. I don't even mention signs anymore if someone calls. Most times I just go by Skywatch and nothing else. In the eighteen years I've been using Skywatch, I've had two people ask about my name and that was only because they wondered if I towed banners from a plane?

    If anyone should ask about your name, just tell them you offer very fast service or that you are fast at coming up with creative solutions. Starting over with a new identity could work against you until you become established all over again.
     
    Last edited: May 13, 2010
  3. Marlene

    Marlene Major Contributor

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    you may both like the name but if you find yourselves having to explain it, it isn't working for you. also unless you want to be a fast service shop, the word speed isn't a great idea. if you do want to have a fast serivce shop, then maybe it can work by putting sings or printing into the name
     
  4. Cmind335

    Cmind335 Member

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    Apr 22, 2010
    SignManiac has it correct. Even if you've been in business for 20 years and you change your name, the outcome will not be what you might expect. To the customer's point of view, you are a new company that just started and might not have the experience they require to get their job done. I can also suggest creating a very attractive logo, with bright colors. That will give your company a nice "upgrade". Good luck.
     
  5. Jim Doggett

    Jim Doggett Very Active Member

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    speed needs
    GRAPHICS

    a Speed Needs, Inc. company

    JMO
     
  6. Rooster

    Rooster Very Active Member

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    I "get" the name for the previous company. It doesn't seem to work as well in the sign business.

    Make me think of some tweeker.
     
  7. Jon Aston

    Jon Aston Very Active Member

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    Just time for a couple of quick comments...

    I agree that the shortest (and cheapest) distance between two points is to simply change the name to "Speed Needs Signs" (or "Advertising" or "Media", or something)... but that's not necessarily the right answer for every situation, and may not be for yours. Difficult to tell, without more conversation.

    I'm also of the opinion that "storytelling" is actually useful in building a connection to your brand. You might get tired of telling it over and over, but customers each only hear it once, and might find it interesting. If you're still targeting that market, then clearly you are one of them... not an outsider.
     
  8. OneUpTenn

    OneUpTenn Active Member

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    I have to agree with Marlene. You cant fit a square peg into a round hole. The name is not working for you.
     
  9. speedneeds

    speedneeds Member

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    Jan 29, 2007
    Kentucky
    I would like to thank all of you for taking time to reply.
     
  10. BigfishDM

    BigfishDM Merchant Member

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    All Over
    What about Faster Signs lol
     
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