Hi Cuong: I'm working on my business plan and would like some guidance with choosing a good name. What are some considerations I need to take into account and can you help in this area? I prefer to do t his right and not make mistake. Thx.
New pho restaurant name. A very important topic.
First off I want to congratulate you on deciding to do this now, during your planning stage and while working on your business plan. Many people don't do this and they run into difficulties almost 100% of the time.
Secondly, I keep all client information confidential. So by the nature of your question, this discussion can get, need to get, and will get, pretty deep in your whole concept, operation, and business strategies. At some point I'd recommend switching to a private discussion instead of doing this in open forum like this. But for the benefits of those who may have similar question, here are some important considerations. Note that this is not an exhaustive list but it should give you an idea.
- Your pho restaurant name should be short, catchy and easily pronounceable.
- The name should represent your concept, mission and/or value proposition well.
- In conjunction with a business name, you may consider an associated slogan/catchphrase to accommodate it in, not all, but various applications that are appropriate.
- A catchphrase should not exceed 4-5 short words max.
- It should facilitate or even make it easier to carry out marketing, promotion and even public relations efforts.
- It should lend itself to be a part of a simple and easily recognizable logo, that is eye-catching on all applications, from large outdoor signage to medium size on printed menu to small size on business cards. The same considerations apply to electronic/digital versions. There are a whole host of additional rules for logo creation too numerous to mention here.
- You should be able to purchase a domain that is exactly like your restaurant name. Various compromise on this may be possible but you should set a very narrow and tight border outside of which you don't want to go.
- Additional considerations include how the business will stand out a) in the market it serves, b) whether it's a single or multi-unit concept, c) against competitors big and small, among other things.
Additionally there are strategic discussions and exercises that I walk an owner through to help identify and understand at a very deep level what their concept and value proposition are, to narrow down options, and to help with final decisions.
As you can see, to do this right you'll want to do all this stuff as early as possible, and give yourself plenty of time for making good decision and for implementation.
It's just scratching the surface but should give you an idea for a starting point.
@chuynh
Wow awesome info. There are a lot to chew on here. I like working out both the name and slogan/catchphrase together because I believe that's how a brand can have an integrated feel to it. What do you think about those punny or funny, often with double meaning (and sometime sexual) names for pho restaurants?
Personally I'm not against the funny names with puns. On the other hand my opinion is those restaurants don't have much to offer and that's why they resort to funny/catchy names in hope to drive business through social media. Too bad they probably won't last too long.
Agreed with @hoangng9. I'm not a fan of punny or double entendre names unless the name is done in good taste, can outlast trends, and fits the brand whatever it may be. Oftentimes the owners created punny names for their restaurants have no brand to tie the names to, and do not last more than a few years before it becomes outdated.
For these reasons I always work with the owner on defining a strong and unique brand for the concept, and go through an exercise to select names that fits all recommended characteristics of a strong brand. This way the name and the brand have a much better chance to survive through different times.
