Create a new product under existing compny better or start another new company better

Discussion in 'Starting a Business' started by Hazel, Aug 27, 2013.

  1. Hazel

    Hazel
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    I want start a company. Its sole proprietorship.
    The Nature of Business: web development
    'Iskandar web service' [company name]
    Domain name for that is www.Iskandar-webservice.com

    Then under that company i want create another product instead of another new company.

    The Nature of Business: Internet Marketing
    Domain name: www.iskandar-Marketing.com

    Create a new product under existing company is better or start another new company is better??
     
  2. Fergal

    Fergal
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    Creating a new business with the same brand name can work well and be very successful. It's a strategy that worked very well for Virgin. E.g. we have Virgin Mobile, Virgin Money, Virgin Airways, Virgin Radio, Virgin Books and Virgin Festivals.

    The word "iskandar" doesn't sound very memorable or "brandable" to me, perhaps it is in your country?
     
  3. Hazel

    Hazel
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    My question is:
    Create a new website under existing company is better or start another new company for the new website is better??
     
  4. amwarner

    amwarner
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    You should create it all under one parent company. Like Fergal said, maybe the name is more brandable in your country, but if proper marketing is done, you want to be able to direct your customers and potential customers to that site. What is your new website providing that can't be added on to your main website? For my website, I create domains for some of the other products that I have, but it all links back to my main website. But I do this to make my url's easier to remember ... like the link that will appear in the signature is for a guide I offer for free.

    It sounds to complicated with having domainname/reselling-junk dot com. So I just created that domain that redirects to the page I created on that main site. Just a suggestion.
     
  5. Constantin

    Constantin
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    You do not need a new company. Just create a new website for the new service you're offering.
     
  6. Multima$tery

    Multima$tery
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    I would just create another service under the same website, maybe in another folder or sub-domain of the site. I doubt I would buy a new domain... at least not initially.
     
  7. marcus47

    marcus47
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    Hi Hazel,
    You don’t need to start a new company. I would like to suggest, use your same brand name and make a new website for web-development. Your brand name will be helpful for new product.
     
  8. Rocky

    Rocky
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    It is better to start a new company under an already existing and well known company to pass on the brand and goodwill to the newly formed company or website.
    I think a discussion on this was already done sometime back. If someone to find that thread?
     
  9. Changed Creation

    Changed Creation
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    Hi Hazel. My take on your question is that I too would create the new product as a second line and use just one company for all the admin and tax implications. The web makes it easy to create differing products, services, programs and projects all from one enterprise, one roof as it may. This will create a staggering effect because you do not have to develop every essential piece of the business again, create new systems and new checks, train new staff from scratch. Building one what you already have, your basic business infrastructure makes sense, because you can set the divide so that you know exactly what is going on in that part of your business and measure your systems to check if the everyday results are as you want them.Good luck with your endeavor.
     

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