Having your real name in your business name?

[Tree94]

Wondering if I limit myself with having my actual name in my business name.
I currently operate as, "Russ' Tree Service"
Russ, being my first name...

After reading a few threads on here and some other info online, it seems you should stay away from doing that.

My thought is it shouldn't matter as long as the service/reputation is good, but maybe I'm missing something here.

 

[climbhightree]

One thing is liability reason. If something goes horribly wrong it is harder for someone suing to go after your personal assets. It helps create a barrier between the business, and you personally. Especially if you go LLC

Least that is my understanding.



"Kiss My Axe"
Associate degree in forestry from PSU Mont Alto
Certified Arborist
Owner/operator of Climb High Tree Service established in 2002
www.climbhightree.com
https://m.facebook.com/ClimbHighTreeService
https://www.youtube.com/user/climbhightree
https://www.youtube.com/user/2treekiller2

 

[ATH]

Plenty of people have their name in the company name. I think if you read business books, one of the downfalls is that if you ever want to sell the company, it is less merchantable if it has your name. A lot of businesses start (probably not so much in the tree care sector as some other industries) with the intention of growing and being sold so if that is the case you wouldn't want it tied to Russ.

I don't think it is that big of a deal. If I could buy McDonald's, Pappa John's, or Sam's Club for a good price, I'd be OK with keeping the name

 

[ATH]

The legal protection has nothing to do with the name of your business...it has everything to do with structure. Russ's Tree Service, LLC protects Russ's assets if (and ONLY if) it is registered AND operates as an LLC. Russ's Tree Service where Russ is a sole proprietor in the state leaves Russ's personal assets very exposed. As I understand it, the biggest mistake people make is not having a separate bank account for the LLC or if they do, they use that bank account like it is their own.

I guess the one thing where you could get some liability exposure would be if the client writes a check to "Russ Smith" rather than "Russ's Tree Service, LLC". If the company name is Superman Tree Service, that mistake is less likely.

 

[In4apenny]

Mine is JR Dailey tree services, that's not my first name just liked the sound of it. I can also allow the checks to be written to JR Dailey without "services" attached, can't put it in my personal bank account, and people can't yellow pages me and call me on my home number because they have an "emergency". They have to call the business number which I leave on when it's supposed to storm.