Picking the right name for your consignment shop is critical, but it should also be fun. Here are some things to keep in mind while you brainstorm.
There are some legal issues to be aware of with picking a name, but actually its not anything to get too paranoid about. If you really want to be 120% sure about your name, check with a lawyer. In fact, though a few hours with a lawyer may eat into a couple hundred dollars worth of your startup budget, it is definitely a good idea.
At your meeting you can talk about business structures, the name you want, things to look for in a lease, and your county and town’s business license requirements and more. However, if you’ve already picked one or two names you’d like to use before you meet with a lawyer, you’ll make much better use of their time.
Here are the rough rules for picking a business name: you can have any name you want, just so long as 1) no one in your state is already running a business under that name or 2) no one in the country is running a trademarked business under that name.
You can check to see if there is another business operating under the name you want by doing a few internet searches (try each of the three major search engines). Most states also offer free business name availability checks online. Google “check business name availability” and your state and you’ll probably find what you want. Be sure to print out the results of your research… just in case anyone ever challenges your name, at least you’ll be able to show that you did check if the name was available.
You usually do not have to register your business name. If your business structure is going to be a corporation, an LLC, or a limited partnership, your business name will be automatically registered when you file your paperwork.
You also probably do not need to get your name trademarked. But if you have any dreams of opening chain stores, or doing any kind of business beyond your state (maybe like an eBay store), you might want to consider it. Trademarking costs about $500 and takes a while. You will need to have a logo designed and registered as your trademark symbol. Generally this is way more than the typical consignment shop needs.
So… now that we’re past the legal issues — what makes a good name? It should be easy to remember, easy to understand, and easy to spell. It is very important that your shop name telegraphs what it is, so that anyone can immediately know what you do. Some stores have gotten away with obscure names, but it is an uphill battle. For 90% of the population, if they do not immediately understand what you do, they will immediately forget you.
Here are just a few sample names to get the brainstorming started:
- Your Town Name Consignment
- Your Town Name What You are Selling Consignment (ie, “Smalltown Clothing Consignment”)
- Your Name What You Are Selling Consignment (ie, “Cheryl’s Equestrian Consignment”)
- As Good As New Consignment
- Renewed Consignment
- Better Than Ever Consignment
- Like an Old Friend Consignment
- Lots of Wear Left Consignment
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