I am debating on buying a supply store. My question is, do I keep the name that it has, (it has been around for almost 30 years) or change to my liking? I do not care for it but realize that it works. Do any of you have any experience with this?
Does the business have a favorable reputation? I'd say keep it...at least for a while. I mean is the business' past consumer flow a big part of the reason you bought it or not? I mean are you changing up the business concept, are you taking it in a different direction? If reputation is good and no driection change, I'd say keep it at least long enough for the transition then maybe 6 months out change it.
That you are in Ohio makes me very curious...please keep us/me posted.
It does have a very big reputation around me and I would love to expand it. I am just curious if changing the name would hurt business. I would however wait at least 1 year to change so that people would get acclamaited.
I mean it could be a great marketing tool. Hey we've got a new name same great service even more great products but now new and improved in these bladeebla areas. You can really make that sing the high notes for yah in a little marketing blitz.
Y'know you could even buy the business and set it up in the new name with the old name as dba. So you'd have half the battle over by the time you do the big change. You can still use up all the old invoices & stationary, bs cards & what have you.
I definitely would wait a while and not do it immediately. People will already wonder about stability of the business and what is going on with all the new faces. Once they are comfortable with you and the new look/feel/faces, I would change the name.
Where in Ohio are you talking about? I'd love to have another option for supplies, as the one I use most now is a very out of the way place for me and it's the only reason I ever go in that direction let alone off that route (plus, their hours are awkward). Even if you're farther, if you're in route to other places we shop I'd love to stop by and shop with a fellow cc'r! I'd just plan my cake shopping around other errands.
As far as the name change is concerned, I guess it would depend on how much I disliked the current name. There's benefits to keeping the name (existing clientele, etc...), but if I hated answering the phone with the existing name I'd feel like I had to change it -- sooner rather than later. Is it possible to just tweak the current name so it's better, but not confusing to customer's? For example if it's got the previous owners name in it with some other words, can you use the other words without their name? I guess it would help knowing what the current name is.
I would say maybe keep the current name for a while during the transition phase for you and then mabe after a few months, have a "grand re-opening" and introduce the new name that you really want?
And where in Ohio?? I'd love to be a customer! Anywhere near Toledo? I'm in Michigan, just north of Monroe and I'm in Toledo quite often....