“Pick a business name that lets customers know what you sell.”
That’s the advice I heard in the 1990s during a new business seminar I attended in preparation to start a gift basket business. However, there are well-known businesses that don’t follow that advice.
The name Payless doesn’t tell you what you’re paying less for, and the name Best Buy gives you no clue as to what they sell.
When you visit or hear an advertisement for Payless (the name given to both a shoe store and automotive parts store) and Best Buy (an electronics store), that’s when you learn what their brands represent.
So, does the name of your gift basket shop have to follow the rule I was told? The bottom-line answer depends on how you wish your business to be recognized by the masses.
Many gift basket designers select company names that instantly tell customers what they sell. Examples are:
- Gift Baskets by Becky
- Greta’s Gift Baskets
- All in a Basket
- Gift Baskets and Beyond
- A Tisket, A Tasket Basket
This naming strategy is helpful with marketing. A person who needs a gift basket and hears these business names immediately knows that these companies make the type of gifts she wants.
In addition, there are designers with a different mindset. They want their company names to sound as creative as the gifts they make. Examples of these names are:
- Unique Arrangements
- Carlotta Bay
- Cathy’s Cottage
- Your Every Wish
Which is your choice for choosing a name for your gift basket business? Is a name that immediately lets people know what you sell the way to go, or is a name that’s unique and different better suited for you now and in the future?
In either case, the name you select must accomplish three things:
- Makes you smile every time you say it and when customers say it
- Identifies something about your gift baskets that is memorable
- Elevates you above all other gift basket boutiques in your area
Here are tips for naming your gift basket business.
1. Write your ideas within a word processing document, or use pen and paper to document the candidates. Keep the list available so you can return to it for updates, edits, and deletions.
2. Think about and write down words that make you happy. This can include your children’s names, places where you grew up, or favorite locations. Skip writing down proprietary names such as Disney or McDonald’s because you cannot include those words in your name.
3. Start combining words and saying the combinations aloud to hear how the words sound together. For example, Beautiful Bountiful Baskets by Bonnie is a mouthful. Beautiful Baskets by Bonnie is better, and Baskets by Bonnie is short, sweet, and more to the point.
4. Narrow your choices to no more than three contenders. One of those names or a combination of the words will become your business name.
5. Share your choices with trusted friends and/or family and ask their opinion. Do not feel badly about criticisms (sometimes this sharing reveals that a friend isn’t really a friend), as this will be your company’s name, not theirs.
6. Wait a few days to determine if the name is the right one. Remember, if it is, it will immediately resonate with you. Don’t settle if you’re not sure. Take your time with this process because the right name will aid your success for years to come.
Choosing a company name for your gift basket business takes time and talent, and that’s also true about the beautiful designs you make. The perfect name will elevate your business success and put a smile on the faces of everyone who buys your gorgeous creations.