Business Plan Thrift Store

what do you think of the name i plan to call my business?

i am moving to hilo hawaii at the end of this year and plan to go into business. i will be starting off with a small local craft/thrift store that i plan to expand into a business that will help women in transition(divorce,jail,drugsetc..) promote literacy,help the homeless. anyway the whole 9 yards is my goal. i plan to call it LORILACI OF PARADISE. would like to know what others think of it and to see if others can figure out where i came up with it?
my whole mind set behind the business is the fact that i was able to get out of a very abusive marriage to be able to have this 2nd chance and the determination and the strength to do it. but 2 beautiful, sweet women were not as lucky as i was. they had no clue their lives would end so early and by the hands of men who claimed and vowed to love and cherish them. Lori Hacking and Laci Peterson. i thought the combination of their 2 names was beautiful.

It is very noble of you to recognise the 2 lovely women in the name of your proposed business. However, it may be better if you could come up with a name that is more descriptive of the type of business that you intend to conduct.

Once you have decided on an idea for a business and have begun putting together your business plan, it’s time to develop a name for your new company. But how does one go about forming the perfect business name?

Start by deciding what you want your name to communicate. To be most effective, your company name should reinforce the key elements of your business. Your work in developing a niche and a mission statement will help you pinpoint the elements you want to emphasize in your name.
Naming consultant Gerald Lewis uses retail as an example: “In retailing, the market is so segmented that a name must convey very quickly what the customer is going after. For example, if it’s a warehouse store, it has to convey that impression. If it’s an upscale store selling high-quality food, it has to convey that impression. The name combined with the logo is very important in doing that.” So the first and most important step in choosing a name is deciding what your business is.

Should your name be meaningful? Most experts say yes. When you are creating your name you should give priority to real words or combinations of words over fabricated words. People prefer words they can relate to and understand. That’s why professional naming consultants universally condemn strings of numbers or initials as a bad choice.

On the other hand, it is possible for a name to be too meaningful. Business owners need to beware of names that are too narrowly defined. Common pitfalls are geographic names or generic names. Take the name “San Pablo Computer Monitors” as a hypothetical example. What if the company wants to expand beyond the city of San Pablo , California ? What meaning will that name have for consumers in Chicago or Pittsburgh ? And what if the company diversifies beyond Computer Monitors into software or computer instruction manuals?

Specific names make sense if you intend to stay in a narrow niche forever. If you have any ambitions of growing or expanding, however, you should find a name that is broad enough to accommodate your growth. How can a name be both meaningful and broad? Descriptive names tell something concrete about a business – what it does, where it’s located and so on. Suggestive names are more abstract. They focus on what the business is about. Would you like to convey quality? Convenience? Novelty? These are the kinds of qualities that a suggestive name can express.

Perhaps something like, “Lorilaci Thrift Store” would be more appropriate?

Art n Thrift Store Plan

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