“Doing Business As” or “Fictitious Name”?
You have reached in my opinion the most talked about part of forming your company. Picking a “Doing Business As” (DBA) or “Fictitious Name” for your company seems like it may be an easy task but through my time as a business advisor, many business owners have stopped everything at this very point. This name has more to do with activities your business will carry out vs your legal name as mentioned in Part One.
What is in a business name?
A name provides your customers with ability to go on a customer journey. For instance, the name Magnitax lets you know that the company could be in the business of handling taxes of some sort. If you were to see an ad in the newspaper for this company, it will probably address your needs to get your taxes filed before April 15th. However, you can definitely argue that some companies have ambiguous names such as:
These names really have no meaning from a new customers perspective and go into the branding phase of your business. In this series, we do not cover branding.
Where do you go to get a Doing Business As for my new LLC?
To do the task of getting a “Doing business As” (DBA) for your new LLC, you have to reach out to your Secretary of State where your business is based. For Florida readers, you can go to the Sunbiz. For everyone else, I will update this post to have the exact place to go for your city. This way you do not have to worry about paying a 3rd party to give you your DBA/Fictitious name. Here are some states that are available (Updated Daily):
Should you trademark your “Doing Business As” a name for my new LLC?
Yes and no! Trademarks for your business name and more are a big budget item and you want to make sure your business the finances to do so. However, if you are able to begin operating your business with that name; it gives you the ability to show courts you’re really making a name for yourself.Trademarks for your business name is a big budget item and you want to make sure your business has the finances to do so. Click To Tweet
What are future uses for your “Doing Business As” name?
Here are a few things to do with your business name:
Add to coffee mugs
Put company logo and branding on t-shirts and polos
Other marketing material
How the LLC without expensive attorney fees series is structured to benefit you?
The series created by Accountant/Business Advisor Jean-Désir Fils is structured as seven separate blog posts. Each post will break down the steps needed to form your LLC without an expensive attorney fee. This will not go into details for your state; you will follow the links of your respective state to do so in detail. The series includes a downloadable checklist that will ensure you remain on track to succeed no matter your level of business know how. If you need an accountant right away go to Shngli, Click Here. Check out the three remaining posts in the series below: