What’s in a name? Quite a lot, actually. Your vending machine business name is the first point of distinction between you and your competitors. It must pack a punch and communicate what you are about to prospective customers and location owners. In this article, I will cover what you need to know about naming your vending business, and what to do after selecting a suitable name.
What Makes for a Good Vending Machine Business Name?
Your vending business’s first obligation to you as its shareholder is to ensure a fair and consistent return on your investment. To do this, your vending business needs to land new locations and attract repeat buyers. A good vending machine business name, therefore, makes it easy to achieve the above two aims. Generally, a good name will have the following characteristics.
Conveys What Your Business Does
The best vending machine business names make it clear that the business is in the vending business, or at least in the food retail business. You don’t have to use the word ‘vending’ in the name to achieve this. There is industry-specific vocabulary you can use to pass the message. Such words include refreshments, candy, merchandising, mini-markets, vendors, snacks, soda pop, and self-service, among others.
Is Easy to Remember
A concise easy-to-spell and easy-to-remember vending machine business name makes it easy for you to benefit from word-of-mouth marketing. Also, when people can recall your business name, they can easily go to Google to search for your contact information.
Should be Searchable Online
You want to avoid generic names that make it hard for you to shop up on the first page of Google. You want to craft a name that is unique enough that search engines will easily serve your business at the top of the results even with minimal search engine optimization (SEO).
Should Be Unique in Your Area
Ensure no vending machine business is using a name similar to yours in your area. If you are in Dallas, for instance, it doesn’t help to call your company ‘Dallas Vending Co.’ when several other businesses use a close variation of the same name.
How Do I Decide on a Vending Machine Business Name?
The best way to arrive at a good vending machine business name is to have a brainstorming session and generate a bunch of possible names then choose the one you like. Below are some pointers on what you need to consider during this exercise.
Get Creative with Word Combinations
You should probably start by listing a bunch of words that you think could be in your vending machine business name. You can then combine two or three words to come up with a good name. The more root words you can list, the better. For ideas, consider:
- Your name, e.g. Martin’s, Dave’s, McCarthy, etc
- The name of your town, city, or country, e.g. Dallas, Denton, Cedar Hill, etc
- Whether you will be offering healthy products, e.g. organic, healthy, fresh, etc
- The products you will be vending, e.g. snacks, treats, drinks, ice, water, coffee, candy, etc
- Adjectives for a good service provider, e.g. premier, prime, terrific, etc
- Adjectives for tasty vending products, e.g. crispy, savory, creamy, etc
- Vending vocabulary, e.g. snacks, drinks, vend, vending, mini-markets, smart vending, etc
Ultimately, the name you choose should reflect your personality and the kind of business you want to create. A concise easy-to-remember vending machine business will do you a lot of good.
Use a Name Generator
If you face a creative block and can’t come up with a good business name from the above exercise, consider using a free online business name generator. The generator will use AI to come up with a bunch of names that may make it to your shortlist. You can use a name generated by the tool as is or modify it to fit your situation.
Check If the Domain Name Is Available
If possible, choose a business whose domain name is still available. A domain name is the text address you use to access a website, for example: facebook.com. Customers and location owners will easily remember your domain name if it is similar to your business name.
What to Do After Deciding on a Name
After deciding on a name, you want to take action to protect the vending machine business name and get the word out about your new business. Consider doing the following.
Register a Domain Name
The first thing you should probably do after settling on a business name is to register a domain. A dot com domain is best for a vending business. If you are not a techy person, you want to register the domain with a provider that also offers hosting services. Such services include GoDaddy, SiteGround, and Namecheap.
Register an LLC
An LLC is not a mandatory requirement for a vending machine business. As your business grows, though, an LLC becomes essential. I’d recommend you start with an LLC from the very beginning so you have all records of sales, taxes, and contracts under one legal entity. Aside from having the records under one name, an LLC also comes with several other benefits, including:
- It gives you limited liability protection. With an LLC, your vending machine business becomes a different entity separate from you. Your personal assets such as house, car, and cash are therefore shielded in case someone sues your business.
- Gives you credibility. You will need to approach location owners and property managers and sign agreements. Having an LLC is a sign of professionalism and gives you credibility in their eyes.
- An LLC is easier to register. The process of registering an LLC is more straightforward than other business formations. In case you need help registering an LLC, we can help here.
To register an LLC, you need to designate a registered agent (you can be your own registered agent) and file Articles of Organization with the Secretary of State’s Office.
Figure out Branding and Presentation
Branding is important if you want to differentiate yourself from other vending machine businesses. Think about how you want to present your business to your customers and potential customers. Remember, you don’t have to operate under your legal business name. You can use a catchy, interesting vending machine business name instead. When a business chooses to operate under a name other than the registered business name, the chosen name is called a ‘trade name’.
Get Ready for Business Operations
After registering an LLC, you want to get ready for business operations by:
- Obtaining an EIN. Also known as a Federal Tax Identification Number, an EIN serves as your unique identifier by the Internal Revenue Service (IRS). Getting it is free.
- Opening a bank account. You want to open a bank account under your LLC’s name to ensure your business funds stay separate from your personal funds.
- Get necessary state licenses and permits. Depending on your state and the products you plan to offer, you may need certain permits to be allowed to operate legally. Call your local office to know the licenses and permits required of you.
Sign Agreements with Location Owners
You will need contracts/agreements with location owners to install your vending machines on their premises. Vending machines do well at locations with significant foot traffic. It is best to set up at locations that see at least 50 different people every day. You can scout for these locations yourself or hire an independent vending locator to find potential locations for you.
