They say that first impressions are everything
It can determine whether a customer walks through your doors or keeps on strolling by. It can cause a client to click your website advertisement or scroll down the page to the next page on the list. Names have been known to inspire or to invoke fear in the competition. Names can always be changed but their importance need to be heeded or else dire consequences can ensue.
There once was a small business that sounded a lot like a well-known megacorp
It is not the worst strategy to copy a well-known business name and hope that people will assume you are related. But deception tends to catch up with everyone eventually and let this be a strong warning to all those currently engaged in such practices. Big companies realize how important a name really is and are willing to spend enormous amounts of money protecting their own. From online presence, reviews, to even the font used in logos; one mere misstep can be disastrous so it is easy to imagine how seriously the former mentioned circumstances are taken.
If the big guys spare no expense then it is worth everyone taking note
It does not matter whether it is a small coffee shop or some company on the NASDAQ, the name of the business matters a lot. Give it some serious thought and think about how other people are going to perceive your business. What does the name say about it, or about you? Does it fit with the rest of your culture, of the theme, or products offered? Often times small business owners choose a name that means something to them personally; this is not always the smartest move. You want to attract the key demographics that support your business with actual sales no matter where that leads you. That means that you may actually hate the name that fits or works the best, but as long as it generates more revenue you need to find a way to love it regardless.