So when I formed my LLC two years ago, the plan was to do custom woodworking. I got the name "Timber & Grain LLC" and everything. But since then I've pivoted almost entirely to selling digital plans and teaching online woodworking courses. I don't even have a shop space anymore. The name feels misleading now. Has anyone gone through a rename? I'm in Ohio if that matters. I'm worried about the cost and whether it'll confuse the few customers I have.
LLC
I want to rename my LLC because the original idea changed
Renaming an LLC is usually just filing Articles of Amendment with the Secretary of State. In most states it's arround $50-$100. The bigger hassle is updating your EIN with the IRS and any bank accounts. But it's doable.
How much revenue are you doing? If it's small, maybe just leave the name and add a DBA for the digital stuff. Cheaper and less paperwork.
Revenue is maybe $15k/year right now. Mostly course sales. The DBA idea is interesting but I feel like it adds another layer of confusion
I renamed my LLC last year. The amendment itself was easy, but don't forget to update your website, email signatures, and any print materials. Also check if your state requires publishing a notice in a newspaper. That caught me off guard.
Ohio doesn't require newspaper publication for LLC amendments as far as I know. But I'd double-Check the Secretary of State site.
If your customers are mostly online, a rename might actually help. "Timber & Grain" sounds like a physical shop. Something like "Grain & Guide" or "Woodcraft Digital" would fit better. Just my two cents.
One thing to consider: if you have any contracts or leases under the old name, you'll need to update those too. Even if you don't have a shop now, check any vendor agreements.
At $15k/year, I'd just do the DBA. Save the rename foor when you're bigger. But that's just me.
I appreciate the DBA suggestion, but I think the name is holding me back when I pitch to potential partners. People hear "Timber & Grain" and expect a furniture maker. Im leaning toward just doing the amendment.
If you're set on it, go for it. Just make a checklist. SOS filing, IRS name change on EIN, bank, insurance, domain, social media. It's a weekend of work but not hard.
Also check your state's rules on continuity. In Ohio, the amendment doesn't create a new entity, so your contracts and liabilities carry over. That's good.
What name are you thinking? Curious if you've got one picked out.
I'm considering "Digital Grain Works" or "The Woodworking Codex." Still deciding. Thanks for the tips everyone.