Nick Diaz Promotions

Top Menu

  • Home
  • Contact Us

Main Menu

  • Finance
  • Business
  • Industry
  • Law
  • Entrepreneur
  • Branding
  • Health
  • Home
  • Contact Us

logo

  • Finance
  • Business
  • Industry
  • Law
  • Entrepreneur
  • Branding
  • Health
Branding
Home›Branding›Pros and Cons of Changing a Business Name

Pros and Cons of Changing a Business Name

By Eddy
February 27, 2020
3112
0
Share:

You have managed to buy a shelf corporation, but you are wondering whether to change the name or not. Is it even a good idea to change the name of the company? Well, continue reading to find out more.

You have all the paperwork, and you just can’t wait to get started with your established business. However, there is one thing that you still want to sort out – the business name. Buying an off the shelf company comes with many benefits. You can change the business name, but it may not be a good idea. Changing the business name comes with its fair share of consequences.

Pros

Target a different demographic

Rebranding your business can redefine your target to a new one. It can also help in expanding your customer base. More customers mean more revenue and your business will grow in no time. Thus, if you need to change a name, then choose one which will target a new demographic and help your business in its journey towards success.

Leverage your experience

When you are starting a new business, whatever you do is a learning experience. You do not know what outcome you will get until you have made the decision. The same applies when you are naming your business. In the beginning, you may have chosen an overly descriptive name. Once you become more confident about the product and service you offer and your target customer, it becomes easier to select the appropriate name of the business.

Cons

It can confuse customers

Building a business name recognition takes a lot of time. You may confuse your customers by changing the name of an existing business. It will also undo all the progress the company has made over the years. A name change can make you lose some customers.

It can be costly

It takes time to rebrand a business. You will have to contact the local government, notify the IRS, and update everything about the old business name. It can be quite a process. You have to update the business cards, email address, business permits, and even the website. It will be as if you are starting a new business from scratch. Everything will have to appear as new. It is not good to change your shelf company details, especially when you main intention for buying it was for funding purposes.

Hard to go back

Once you change a name, there is no going back. So, you have to be sure that you want to change the name. Before moving to the changed name, you have to be sure that it is the right move for your business. It could be too late when you want to go back to the original business name.

Weighing the pros and cons of changing a business name will help you make the right decision. Make sure know what you want for your established business. But be ready to face the consequences when you change the name of aged corporations with credit.

Previous Article

Why you should hire a medical malpractice ...

Next Article

Should you shop around for mortgage lenders/brokers ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Branding

    Branding by Association – 5 Steps You Can Outsource When Building Your Brand by Association

    June 24, 2019
    By Eddy
  • Branding

    Got Brand?

    June 24, 2019
    By Eddy
  • BrandingBusiness

    CHOOSE CUSTOMIZED PICTURE FRAMES FOR A PERFECT GIFT

    October 19, 2020
    By Eddy
  • Branding

    Internet Marketing – What is Branding – How to Brand You?

    June 24, 2019
    By Eddy
  • Branding

    Brand Identity and Culture – Who Are You to the World?

    June 24, 2019
    By Eddy

Leave a reply Cancel reply

  • Philippines

    Wpc16 Com Dashboard

  • Business

    สินเชื่อ UOB I-CASH อนุมัติไว 1 วัน ของจริง!

  • Business

    Frustrated with Credit card hackers? Choosing a Virtual Terminal Credit card!

  • Recent

  • Popular

  • Comments

  • Hedging Your Risk with Canadian Futures

    By Eddy
    January 29, 2023
  • Using MyEtherWallet to Trade Cryptocurrencies

    By Eddy
    January 28, 2023
  • Take a Gamble and Strike it Rich with Progressive Jackpots on PG Slot Machines

    By Eddy
    January 26, 2023
  • Hello world!

    By Eddy
    June 14, 2019
  • Best Prices on Top Brands at Centrepoint

    By Eddy
    January 1, 2019
  • ไขข้อสงสัย สินเชื่อส่วนบุคคล uobคืออะไร?

    By Eddy
    June 22, 2019
  • A WordPress Commenter
    on
    June 14, 2019

    Hello world!

    Hi, this is a ...

Recent Posts

  • Hedging Your Risk with Canadian Futures
  • Using MyEtherWallet to Trade Cryptocurrencies
  • Take a Gamble and Strike it Rich with Progressive Jackpots on PG Slot Machines
  • Best Practices For Keeping Your Wallet Secure on MyEtherWallet
  • Unleash Your Fortune in 3D Slot Machines!
  • Business

    Hedging Your Risk with Canadian Futures

    Investing in futures contracts can be a great way to diversify your portfolio and potentially increase your profits. But before you jump into trading futures in Canada, it’s important to ...
  • Featured

    Using MyEtherWallet to Trade Cryptocurrencies

    If you’re an Ethereum fan, then you’ve probable heard of MyEtherWallet (MEW). MEW is an open-supply foundation that allows end users gain access to their Ethereum wallets and retailer Ether ...
  • Featured

    Take a Gamble and Strike it Rich with Progressive Jackpots on PG Slot Machines

    Are you presently an avid slot game titles supporter who adores nothing more than rotating and successful? If you have, you will definitely be interested in the newest Spin to ...
  • Business

    Best Practices For Keeping Your Wallet Secure on MyEtherWallet

    MyEtherWallet (MEW) is an easy-to-use, open-source platform that allows users to create and manage Ethereum wallets and interact with the Ethereum blockchain. With MyEtherWallet pribadong key, users can securely store ...
  • Featured

    Unleash Your Fortune in 3D Slot Machines!

    Baccarat is actually a gambling establishment timeless which has been played out by higher rollers and everyday gamers as well because the 19th century. Whilst the activity needs talent and ...
2019 NickdiazPromotions.com / All Rights Reserved.