New name for the business?

[treeman82]

Brett, it's not even that I can't get the loans because I am late with payments. It's more like I never was able to get a loan. Haven't even had credit cards for 2 years now. Any loans that my father took out on equipment for me (where I gave him the money right away) never had my name on it. I tried getting loans several times since getting my credit cards and establishing that I paid on time... and always the answer was "you have good credit, but not enough" I tried to get one loan early this spring with 50% down on a 5K machine... No go.

 

[stoner]

The only suggestion I have is to read, "The Richest Man in Babylon" by George Clason. I have bought this book probably 15 times, as I always end up giving it away. It is probably only 130 pages and will cost you $7-$10 in a bookstore. I read this one in college and haven't had much trouble with finances since. This goes to everyone on the forum...this is a great book, and worth its weight in gold!! Read it!!!

 

[CJ-7]

I agree with Brett. Chap 7 may seem like an easy out, or maybe the only way, but every time you apply for credit that little check box "Have you ever declared bankruptcy" will smack you right in the face. Ouch. I hope you can see a better way out! Good luck man, you deserve it!

 

[igetbisy]

sex will sell anything

chip-n-dales tree service, strip em top em and drop em. run an escort service as well.

 

[treeman82]

Well even if I don't file for chapter 7, I will be changing the name of the business (closing this one out and starting over again) I have been throwin around over the past few days names like;

Arbor Solutions Inc.
Land Solutions Corp. / Inc.

What do you guys think of those names?

 

[Kevin]

This might sound critical but when I hear solutions I think liquids but maybe it`s just me.

What about Arbor-Rite
Rite - Right meaning done well.
Works on the subliminal.

 

[Kevin]

 

[The Big Hurt]

Yeah Marketing!

I know a little bit about marketing schemes and a company name is important to a businesses success. A business name automatically contains a marketing element; your job is to choose a name that will help your marketing efforts. When choosing a company name you should consider these marketable factors.

Think big
When you are starting your business, you have great plans, but may be thinking more about the details you face today than the possibilities of tomorrow. Think about tomorrow when choosing your business name.

Dont descriptively label your business
A descriptive term may work against your business as it grows. Businesses are organic entities that evolve around the customer rather than a business plan. In many industries, especially rapidly evolving sectors this can occour. If you name your company "Joe's Tree Pruning" and suddenly there becomes a great demand for removals, a service you provide, the customer will be confused because your company name intracately specifies pruning and they will call someone else.

The sound and spell test
A good name is something that can be mentioned on the radio or over the phone, without a lot of explanation. A great name does this and is memorable. Make sure the name is easily pronounced and spelt. This is crucial to word-of-mouth business which IS the largest advertising tool in our line of service.

Finally, Choosing an unrelated catch word in your company name
A good way to catch a customer's eye is to create a name that has a specific eye catcher that gets imprinted in the customer's mind. For example....my company. I used Piranha Tree Service and Landscaping because Piranha stands out in people's minds. Many people in Ormond Beach know my company as soon as they mention it because of the unique catch word. Some people even call me the "Piranha Tree Guy." This is another useful marketing tool.

I hope that some of these tips can help you make a decision on your next business name Treeman82. Good luck to you. I would try to avoid bankruptcy like CJ-7 says but if you see no way out then I guess its a must. Take care.

 

[rahtreelimbs]

I'm sorry to hear about the position you are in. I decided when I started to stay small and light. I don't possess the self-confidence and I'm only an average climber. With all the BS that comes with running a fulltime business ( medical coverage, all the paperwork involved )it's more headache than I prefer to deal with. I envy those who have the savvy to run a good successful business. It just ain't me. Doing part-time treework maintains the fun aspect of it. good luck. Rich.

 

[The Big Hurt]

Fun!

To me climbing is just half of the fun while running the business is the other half. I love a good challenge and running a business, a successful one at that is very challenging.

 

[treeman82]

Thanks for all this help fellas. My accountant came over last night and we talked. He suggested that I call up all of my creditors and arrange to pay them each a certain amount. For me to file Chapter 7 would cost between $1,500 and $2,500. I will be shutting down the business for a while and will re-start under a different name when I have some profitable work to do. Only costs a couple hundred bucks to do... so why not? My credit will be in the crapper for quite a while, not that it ever did me any good anyways.

Anyways, again I wish to thank everybody for their help.

 

[The Big Hurt]

Sorry to hear...

Sorry to hear about the bankruptcy but if its your only alternative then its the one you must take. This sounds like a Chapter 7, Subchapter II(Collection, Distribution, and Liquidation.) You know you reserve the right to redeem tangible personal property from your business that is intended primarily for personal, family, or household use under this sub. My be a good way to keep some of your equipment if your doing a total liquidation. If you havent already, talk to your lawyer about your redemption rights. These are rights given in the case of this type of debt relief.