Using personal name as company name?

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btharmy

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Indiana
Anyone have opinions / reasons for using or not using their personal name (last name) as their company name? For example "Smith Electric" (of course that is assuming the owner's last name is actually smith). As with everything, there must be pros and cons to doing so. Thanks.
 
If you put your last name in the company name and don't want to work under a corp I believe in PA you can use it without filing paperwork. If you do work under a name other then your own you need to apply for it from your state. This is going off memory, I'm sure it varies state by state. You should get with a business attorney / accountent to see what you should do.


I always thought it sounded more trustworthy when someone's name was in the title. Makes you feel like someone's reputation is behind the work. I guess it depends on what your last name is though.:)
 
StephenSDH said:
If you put your last name in the company name and don't want to work under a corp I believe in PA you can use it without filing paperwork. If you do work under a name other then your own you need to apply for it from your state. This is going off memory, I'm sure it varies state by state. You should get with a business attorney / accountent to see what you should do.


I always thought it sounded more trustworthy when someone's name was in the title. Makes you feel like someone's reputation is behind the work. I guess it depends on what your last name is though.:)
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I guess Hacks would be a bad name;:grin:
 
btharmy said:
Anyone have opinions / reasons for using or not using their personal name (last name) as their company name? For example "Smith Electric" (of course that is assuming the owner's last name is actually smith). As with everything, there must be pros and cons to doing so. Thanks.
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I think the real question is, should I incorporate an electrical business?
 
I always wanted to name my company "CASH Electric". That way when your customer wants to know how to make out the check you could legitmately say "Make it out to CASH".:D

On a serious note though I started out with my name on the side of the truck but somehow it seemed to make my company's name sound so small in size and limited to the amount or type of work I was able to do. Whereas, if you put on something like "All Phase Electric, Inc." or "Prime Electric Service, LLC" you give the impression that you are capable of more than just some small residential work. Just my 2 cents worth.
 
btharmy said:
Anyone have opinions / reasons for using or not using their personal name (last name) as their company name? For example "Smith Electric" (of course that is assuming the owner's last name is actually smith). As with everything, there must be pros and cons to doing so. Thanks.
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It really depends on the name and how it sounds when its spoken. Otherwise I dont think it really matters
 
btharmy said:
Anyone have opinions / reasons for using or not using their personal name (last name) as their company name? For example "Smith Electric" (of course that is assuming the owner's last name is actually smith). As with everything, there must be pros and cons to doing so. Thanks.
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Well I use my name. Personally I think it lends credibility to you if you are willing to put your name on the business. and around here some of the largest contractors have their name as the business name.

On a side note where in Indiana are you?
 
I work for a company that original owner's full name. He's now on his way to retiring. I've been privy to a couple of discussions as to whether we are going to keep the full company name or change it to just his initials when he fully retires (and sells his share to the other partners) or what.

I know this is something that most of you aren't worried about now ... as retirement is a god-awful many years away.

This really also isn't as big of a deal if it were just last name.

Smith Company after Smith is long gone is one thing

John C Smith and Associates is another thing after John C Smith is long gone.

My 2 cents :cool:
 
We've got as lot of those in town, for the most part I've seen them keep the name, esp. if they are very well known & established, etc. If you change it out you may be seen as the new kid in town. I am a small shop here, and use my first name as the business name + Electric so they know what I do. It does make me sound like a small shop, which I am...and proud of it!
 
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I can't use my name in good conscious.

If my name was on the side of my van and something happened, traffic accident, middle finger, it would reflect on me personally as well as professionally. I would hate to be on the evening news with my van that was in the back round being filmed, when they were talking about an unrelated crime/disaster.

My name is on my business card, but i get to hand those out.

Just a company name is slightly more ambiguous.

Just my opinion though. I don't use my middle finger anymore, but you never know :)
 
As long as you have a name that is not an issue in itself, I would not be too worried about using your name as part of your business name.

If you are buying a business, it is almost always better to keep the name.
 
I'm lucky enough to have a last name that I can say "It's the kind of work we do, and it's also my name." ;)
 
always use your own name. you are selling yourself like henry ford and donald trump. people love to know they are dealing with the actual person whose name they have heard.
 
I would agree with the name if it was appropriate. Mr Cheatum may not want to exercise that option.

If you sell your business & name, your reputation can be put at risk.

On a related note: When you sell your vehicles, ALWAYS take the signage off beforehand.
 
I used my last name because there is another well respected business in the vicinity (non contracting) that has been around for generations and everybody always thinks I am related in some way or another.....:grin:
 
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