MyCompanyWorks Review – Honest Look, Pros & Cons (Alternatives Included)
If you’re looking for a company to help form your LLC, and have a professional handle all the paperwork for you, MyCompanyWorks is one of the big players in the game. The company was formed in 2001, and since its beginnings have provided its services to over 60,000 businesses. Most of these businesses have been very happy with the service they have received from MyCompanyWorks, and many others have used them for further or different services additionally.
In this review, we will look at some of the pros and cons of MyCompanyWorks, and some other important information you should know before choosing their service above others.
- Jump to TOP-2 Alternatives of MyCompanyWorks
- Pros and Cons of MyCompanyWorks
- Packages And Pricing
- Ease of Use
- Additional Features of MyCompanyWorks
- Other 3rd Party Reviews of MyCompanyWorks
- Final Verdict
- MyCompanyWorks Alternatives
- FAQs About MyCompanyWorks
- Doubting MyCompanyWorks? Read Our Other LLC Reviews Below
Pros and Cons of MyCompanyWorks
Packages And Pricing
My Company Works offers various packages for those looking to form an LLC, depending on what features and services you are looking for. Many of the packages look like they contain quite a lot of different features, but it’s important that you read through the lists carefully, as quite a lot of it could be considered ‘fluff’ and things that you don’t really need. A good example of this is that they list their customer service as a feature, when really that should be something that is just a given, and not listed.
Like with lots of formation services out there, even if you just opt for the basic package, you can still get some of the features in the more expensive packages as an add on for an additional fee. This is a great option if you are on a budget, but would still like to make use of a few of the additional services the company offers.
Basic Package ($79)
As the name suggests, the basic offers the basics required for forming an LLC, at a cost of $79, plus the state filing fee. While this is not the most expensive LLC formation service out there, it is not the cheapest either, as there are some cheaper options out there. It includes features such as a name availability search, where they will make sure your desired company name is available, the preparation and filing of articles of organization, and provide custom meeting minutes, while this is only required for corporations, it is also provided for LLCs. They also include a StartupWizard interactive startup checklist, which outlines the additional steps that you will need to complete after your corporation in order to make your LLC compliant. You also have electronic access to scanned copies of your completed formation documents.
The Entrepreneur package offers everything that the Basic Package does, plus they will help you obtain a Federal Tax ID, an LLC Kit, Seal and Member Certificates and a lifetime forms and a tax guide. This package costs $199.
The Complete Package offers everything the Entrepreneur package does, plus a few other extra services. At $279, this is the best value package, but only if you are going to use all of the services, as this package also comes with the company’s registered agent service.
Ease of Use
The company has a tagline which is ‘Startups Made Simple’, so you would hope that they do everything possible to live up to this tagline. The whole idea of hiring an LLC formation service is to help make the process as quick and easy as possible.
The process is relatively easy, as all you have to do is select the type of company you are starting and the state that it is going to run in, fill out the online form and then wait to receive your filed paperwork. If you have all of the information you need to hand, the whole thing should only take you between 10 and 15 minutes. If you are unsure about all the different types of company you could form, MyCompanyWorks are very good at providing lots of detailed information and how to choose, although for some all this information may seem a bit overwhelming.
Review count: 3522+
Form an LLC today with MyCompanyWorks starting from $79 + state fees. They have over 3522 customer reviews and pretty competitive pricing.
Additional Features of MyCompanyWorks
As well as the packages the company offers, there are also a number of additional add-ons that you can choose to add to your purchase.
These are just a few of the many extra services MyCompanyWorks offer. If you click on ‘All Services’ tab on their website, you’ll be presented with a complete listing, and there are a lot. Other services include getting your own domain name and signing up for merchant account services.
The company handbook is another, nice little freebie that the company throw in as a perk. The 23 page guide will help you understand more about your corporation, with topics such as How to Hold Meetings, How to Issue Stock, 9 Steps to maintaining Corporate Compliance and lots more.
You can easily get in contact with a member of the MyCompanyWorks customer service team by phone or email during business hours. If you need some help outside of business hours, there is an online support center that has answers to lots of the most frequently asked questions. If you use the form that’s available on their website, you’ll likely get a response within 24 hours.
They offer a 100% satisfaction guarantee, which is included with every order. This means that if, for any reason, you are not satisfied with the service you have received, you can choose to get a refund or, if possible, a correction of the issue.
One of the biggest downsides to their customer service is the fact that they have one of the shortest availability hours in the industry, but when you do get through to a representative, they are helpful and responsive.
MyCompanyWorks are big when it comes to speed. They have a guarantee that claims that if you submit your order before 3pm, then they will process your formation paperwork in one day. If you need the whole process completed a little quicker, you can upgrade to the expedite service.
Depending on the state, MyCompanyWorks have been known to have your LLC formed in just one day, whereas in other states it can take a few weeks. The good thing is, they provide estimates for each state and entity type, so you will have a general idea of how long the process is going to take. When compared to other competitors, they tend to be a little bit faster.
Other 3rd Party Reviews of MyCompanyWorks
Reviews are a good way to see if a company can do what it claims it can do. The number of reviews out there is also a good indication of how many people use the company. As MyCompanyWorks is well established and has been around for a while, it is not surprising that it has a fair few reviews online. There are over 3522 individual reviews to be found, and the majority of these are positive.
Some of the most commented upon factors are how accessible the support reps are and how food the formation packages are. On average, the rating scores are all very high, with the majority of people who have used MyCompanyWorks being very happy with the outcome.
The well known review site ‘Shopper Approved’ has over 3,522 reviews for MyCompanyWorks, the majority of which are a 5 star rating. Some reviews include:
“I have used MyCompanyWorks before and had referred several friends. The website is simple to navigate and the customer service is always excellent!!”
“I created a business with MyCompanyWorks three years ago and have been impressed with the services. Recently I sought to have another company formed and MyCompanyWorks went helped me in a way that they did not need to just with a simple request. I will forever be grateful and will always refer anyone looking to start a business.”
“Excellent experience throughout the process. Communications from My New Company were frequent, thorough and helpful. All information was clear and straight forward. No surprises. Also very impressed with the binder and all the supportive materials online. I definitely highly recommend My New Company’s services”
Although most of the reviews are popular, there were a few 3 star reviews, some of which commented on the price of the service and others said it was a little complicated.
“Initially it was easier and then it got complicated to place order and the online process got confusing.”
“Some of your free services are grossly misleading. In the label they are free; but when you read further you discover there is a $99 fee to use the service or work with the partner who provides the free service.”
MyCompanyWorks should be a strong company to consider when it comes to finding someone to form your LLC. There are some cheaper options out there, but it definitely has its perks which makes the higher price tag worth it. There are a lot more pros than cons with this service, and it has many positive reviews to back up its claims. One of the biggest downsides is that they don’t include a registered agent service, except in their most expensive package.
If you don’t feel like MyCompanyWorks is right for you, then there are some other options out there that are also strong contenders. There are so many companies out there to pick from that come with different services and price points, so here are a few other options you could consider.
#1 Alternative: ZenBusiness
If the price is a big factor for you when picking an LLC formation service, then ZenBuisness might be a good option for you. Their prices start at just $39 for the basic package, which not only comes with the formation but also a full year of the company’s registered agent services as a bonus. This, among other reasons, is why they are such a popular LLC formation company. They provide everything you need to form a business such as CPA assessments, EIN acquisition, and website building to name a few of the services.
Read a full review of ZenBusiness here.
#2 Alternative: IncFile
Forming in 2004, IncFile has grown into another of the most popular LLC formation services out there. Since their beginnings, they have formed over 250,000 businesses. One of the biggest selling points is that they will form an LLC for free, plus offer a year of registered agent services and other features for nothing. If there are additional features you would like, you’re able to upgrade to one of the paid packages.
I also encourage you to check out our full review of Incfile here.
FAQs About MyCompanyWorks
What is My Company Works refund policy?
MyCompanyWorkd don’t have the best refund policy, as when you request a refund, you will have to pay a processing fee. The longer you wait to request the refund, the bigger the processing fee, therefore you’ll be required to pay either $25, $50, $75. You only have a short window to make your mind up if you want a refund or not, as soon as they submit your formation documents to the state, you are no longer able to ask for your money back.
How quickly will my LLC formation take?
The processing time varies greatly when it comes to forming an LLC, as the time frame greatly depending on the state you are applying to. In general though, they are relatively quick, especially if you compare them to some of their competitors. There is the option to upgrade your service to the expedited service which means that again, depending on the state, you could get your LLC processed in a matter of days if needed. Of course, this option comes with an additional fee.
Is MyCompanyWorks expensive?
The company charge a base rate of $79 for forming an LLC, and then have more complete packages that range from $239 to $279, which don’t include state filing fees. This is about middle of the range when it comes to pricing. It is not the cheapest, but it is also not the most expensive option out there.
Will my details be kept private if I go with MyCompanyWorks?
MyCompanyWorks has a private policy which prohibits selling your data or sending you any marketing material without your permission. That means you won’t be inundated with calls and emails from third party companies trying to sell you things. If you did want marketing material from MyCompanyWorks specifically, you can always sign up to their newsletter, and unsubscribe at any time.
Is the company legitimate?
The company was founded in 2001, so has been around for a while now, but have only recently changed their name from MyNewCompany to MyCompanyWorks. Since their founding, they have helped form more than 60,000 new companies. They come with a 100% satisfaction guarantee, which means if you don’t like the service you receive, you are eligible for a refund. When it comes to feedback, the company really does shine, as you’ll find thousands of positive reviews all over the internet.
Can I form an LLC myself instead?
Yes, there is nothing stopping you forming an LLC, but for many people and businesses it is a lot of hassle. You will also need to know about state specific requirements. LLC formation services, such as MyCompanyWorks will take on all the hard work for you, so you can focus your time and attention on running your business.
Are there any hidden fees?
No, one of their biggest positives is they avoid hidden fees at all costs, and try to be as straightforward and honest at all times, including with pricing.
Can I get ongoing support once my LLC has been formed?
Yes, MyCompanyWorks offers ongoing support to its customers. During business hours, they are always available to contact by phone or email, plus provide lots of information about ongoing compliance requirements.