If you’re buying an existing business and want to change the name, you may be wondering if it is possible to preserve the brand.
Rebranding or changing a company name is inadvisable without extremely compelling reasons to do so. In other words: If it ain’t broke, don’t fix it.
If you must change a business name that carries brand equity, explain this change to your existing and prospective customers. This can be done through advertising, direct mail, the Web, or another appropriate business medium.
How to achieve this will depend on your budget, but you should prepare a campaign that unveils your new name and differentiates it from the old one. It is important to put a positive spin on the change — unless you convince them otherwise, customers are likely to use a name or ownership change as an opportunity to try out a competitor.