Great question — answering as the UphillTech team:
Although a city name in the brand name can help, you should look past only this query. What about Bob's Shoes Hollywood (a city next to Timbuktu) and all other surrounding cities? You need to look at the broader search landscape instead of focusing on ranking for queries including "Timbuktu". There are other factors which go into ranking locally and you should be looking into those rather than worrying about adding the city to your name. Additionally, a name change can impact any brand name relevance you do have built up for the local SERPs. Remember, correlation does not equal causation. So although other sites might have the city in their domain name, there are other factors to consider...
Full answer by David Garcia: https://webmasters.stackexchange.com/a/81814 (CC BY-SA 3.0).
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