Using personal name as company name?

[e57]

Pro's to fictitious - you can sell the name easy... Anonymizes ownership.
Con's registering the name, extra DBA info forms and fees in some justidictions.

Pro's your name - it's your name - no confusion over who's the man... Taxes off of your SNN may be less complicated if you stay small/one man. Banks really don't notice if you're posting checks to 'your name' electric, as opposed to 'funny name' electric....

 

[sparkx37]

I chose to use my last because alot of people related to my previous employer knew me by last name. All of my electricians called me by Butler. I think for the most part it was a good choice. If your doing smaller 2 man shop jobs and are able to make just as much money as the big boys at a more economical rate last name can be an advantage. Alot of people associate the new last name companies with more affordability. As far as the big jobs go, Like all companies prove yourself as being capable and no name will stop you from getting a fair chance at it.

 

[Fulthrotl]

I think the real question is, should I incorporate an electrical business?

i looked at both ways.... as i am a one man band, it's another layer of
paperwork, and doesn't shield me personally from legal action as the
result of my work.

i would have done a LLC, but california does not permit those for a C-10.

as for shielding my personal assets, my wife and i have a trust set up
for the house and assets. that in my thoughts is better than a corporation.

if i grow this larger, i'll prolly incorporate, and have the license changed to
reflect that. as sunny as work is around here, keeping one set of tools
busy is a chore.


randy

 

[Nium]

I used my name because as StephenSDH stated in PA you have to file paperwork to use a fictitious name, post it in the paper's classifieds, and stuff like that. To use my name I went down to city hall wrote the company name on the dotted line paid the fee and badda bing I'm the proud owner of an electrical contracting business. :grin: Of course that was after 4 years of on the job training and passing the test to become a licensed Master Electrician.

Some problems to using a name, as a business name, I see around town is there are a few roofing contractors that use the same last name. One has added "The Original" to his signage.:roll:

 

[readydave8]

I didn't use my name. One reason was that I thought customers would be more accepting of employees, if the business was my name maybe they'd expect me to do all the work personally. I don't know if that was true or not.

In the long run it probably doesn't matter much either way.

 

[zappy]

Pro's to fictitious - you can sell the name easy... Anonymizes ownership.
Con's registering the name, extra DBA info forms and fees in some justidictions.

Pro's your name - it's your name - no confusion over who's the man... Taxes off of your SNN may be less complicated if you stay small/one man. Banks really don't notice if you're posting checks to 'your name' electric, as opposed to 'funny name' electric....

Not sure if this was mention already, but when you use your last name , you don't need a federal tax ID.

 

[Besoeker]

Some names have stood the test of time.
Ferdinand Porsche, Henry Ford, Charles Roll and Henry Royce, Louis Chevrolet, Walter P. Chrysler, the Dodge brothers,

 

[ItsHot]

Some names have stood the test of time.
Ferdinand Porsche, Henry Ford, Charles Roll and Henry Royce, Louis Chevrolet, Walter P. Chrysler, the Dodge brothers,

Some of these have not stood a more recent test!:roll:

 

[Besoeker]

Some of these have not stood a more recent test!:roll:

My point, though, was that the names are remembered. Regardless of the demise of the organisation.

 

[K8MHZ]

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.

Like Barth?