Franchise Tradename Wars

Its like naming a new born child! People will try to search the best name for their business that should be dynamic, easy to remember and simple. These are just few of the factors that affects your Tradename. But why is it really important for a business? it sure is important because your business will carry it for the rest of your operating lives.

Why does an investor have to buy the tradename of a franchise business? why dont they just make their own name? The answer to these two questions is simply Integrity, Identity and Image.

Image is the first thing your clients see! Remember the saying “You will know me when you forgot my name” its true! it really is.

Imagine a group of people trying to remember the name of a place, they tend to describe it.

They will say ;

“the place with that giant bee” (thats Jollibee)

“the one with that big footed yellow clown” (thats McDonalds)

“The gasoline station with the star!” (thats Caltex)

“The location of the Chocolate hills!” (thats Bohol)

Jay Conrad Levinson
Author - Guerilla Marketing

Identity is who you think you should be. According to the author of Guerilla Marketing, thats Jay Condrad Levinson, You as business people should dump image and try to build your identity. Image is what others think of you and Identity is what you think you are. And all your employees should know your identity and try to live in them. The image of many people to the McDonalds Company is a large multi national burger chain, but when Ray Crock discussed his real identity he said McDonalds is a large real estate company. And they really are, in fact they are the riches real estate owner in the whole world, second to the catholic church, McDonalds owns big parcel of land on every busy corner or street of most of the cities in the whole world. (ref; “Rich Dad, Poor Dad”)

Integrity is when the people handling the image meets the people handling the identity. when they meet up, talk to each other, communicated their experiences. And integrity takes a very long time to build but just like trusting, its very easy to break. Thats why when you have build your integrity try to keep it, do all things to maintain it and do what ever it takes to preserve it.

Now that is whats inside of a TradeName, if you really want to put up your own tradename all i can say is “Good Luck!” But if you want to lessen your problem, invest on a Franchise TradeName that has a good image, knows his real identity and holds on to its integrity.

Happy Franchising!  

Bee Smart!