Starting a business is an exciting and challenging process. As an entrepreneur, you’re tasked with transforming your idea into a thriving venture. One of the biggest hurdles for new business owners is navigating the legalities of forming a company, particularly dealing with LLC (Limited Liability Company) formation.
While the process can seem overwhelming, there are services designed to simplify it. One such service is MyCompanyWorks, a provider of LLC formation and business services.
In this in-depth review, we’ll explore MyCompanyWorks, its features, pricing, customer feedback, and how it compares to other LLC formation services. By the end of this guide, you’ll have all the information you need to determine whether MyCompanyWorks is the right choice for your business needs.
What Is MyCompanyWorks?
Founded in 2001 and headquartered in Las Vegas, Nevada, MyCompanyWorks is a well-established LLC formation service. Since its inception, the company has helped more than 60,000 businesses set up in all 50 U.S. states. Their mission is simple: to help entrepreneurs navigate the complexities of starting a business by offering fast, reliable, and affordable services.
What sets MyCompanyWorks apart from competitors is its emphasis on customer service and fast processing times. The company offers a range of services designed to meet the needs of new business owners and those looking to streamline their business operations. Whether you’re forming an LLC, need registered agent services, or want help with business compliance, MyCompanyWorks offers all of that and more.
MyCompanyWorks Services
MyCompanyWorks provides a variety of services aimed at business owners looking to establish and maintain their LLCs. Let’s take a deeper dive into the core offerings that MyCompanyWorks provides:
1. LLC Formation
The primary service that MyCompanyWorks offers is LLC formation. An LLC is a popular business structure that protects personal assets from business liabilities. MyCompanyWorks simplifies the LLC formation process by filing the necessary documents on behalf of the business owner.
The company provides several packages depending on the level of service you need, from basic formation to a more comprehensive solution that includes additional tools and services.
MyCompanyWorks LLC Formation Packages:
- Basic Package ($79 + state fees):
The Basic Package is MyCompanyWorks’ most affordable option, providing all the essentials needed to establish an LLC. It includes:- Preparation and filing of Articles of Organization (the necessary legal documents for forming an LLC).
- A personalized LLC Operating Agreement, which outlines the ownership structure and operating procedures of the LLC.
- Same-day processing of documents if submitted before 3 PM ET.
- Electronic delivery of your documents, so you don’t have to wait for physical copies.
- Entrepreneur Package ($199 + state fees):
The Entrepreneur Package is ideal for those who want to take their LLC formation to the next level. This package includes everything in the Basic Package, plus the following additional features:- One year of Registered Agent service (a requirement for LLCs in most states).
- A Federal Tax ID (EIN), which is necessary for opening business bank accounts and filing taxes.
- Access to MyCompanyForms, a library of legal document templates to help you run your business smoothly.
- Complete Package ($279 + state fees):
The Complete Package is the most comprehensive option MyCompanyWorks offers. It includes everything from the Entrepreneur Package, plus additional benefits such as:- A year of MyCompanyWorks Premium, which gives access to more advanced compliance tools and additional business resources.
2. Registered Agent Service
A Registered Agent is a person or company that is designated to receive legal documents on behalf of your business. All LLCs are required to have a Registered Agent. This service ensures that you stay in compliance with state laws, as you’re required to have someone available during business hours to receive legal notices.
MyCompanyWorks charges $119 per year for Registered Agent services. However, this service is included for the first year in the Entrepreneur and Complete packages.
3. DBA (Doing Business As) Registration
If you want your LLC to operate under a name other than the legal name of the business, you’ll need to file a DBA (Doing Business As) name. This allows your LLC to legally operate under a different name without creating a new legal entity.
MyCompanyWorks offers DBA registration for $99 plus any state filing fees. This service includes a preliminary name check to ensure that your desired DBA name is available in your state.
4. Business License Compliance Package
Depending on the nature of your business and the state in which you operate, you may need various business licenses or permits. MyCompanyWorks offers a Business License Compliance Package for $99. This package helps you determine which licenses and permits your business needs and ensures compliance with local, state, and federal regulations. The service includes a business license wizard to guide you through the process.
5. Corporate Kit and Seal
A Corporate Kit includes physical documents such as a binder, corporate seal, and member certificates. It is useful for companies that want to keep their official records organized and easily accessible. MyCompanyWorks offers this kit for $119, though some entrepreneurs find that they can create these documents independently at a lower cost.
MyCompanyWorks Pricing Overview
The following table summarizes the pricing for MyCompanyWorks’ services (excluding state filing fees):
| Service | Price |
|---|---|
| Basic LLC Formation Package | $79 + state fees |
| Entrepreneur Package | $199 + state fees |
| Complete Package | $279 + state fees |
| Registered Agent Service | $119 per year |
| DBA Registration | $99 + state fees |
| Business License Compliance | $99 |
| Corporate Kit | $119 |
While MyCompanyWorks offers competitive pricing, it’s important to consider the added costs for services like Registered Agent, DBA registration, and corporate kits. These services are optional, but they do add to the overall cost of setting up your LLC.
Customer Reviews and Feedback
When evaluating any service, customer feedback is an essential factor in the decision-making process. MyCompanyWorks generally receives positive reviews across various platforms, particularly for its customer service, ease of use, and quick processing times.
Positive Feedback
- Efficiency: Many customers praise MyCompanyWorks for its quick processing times, especially its same-day processing for LLC filings. This is especially helpful for entrepreneurs who want to get their business up and running as quickly as possible.
- Customer Support: MyCompanyWorks is often commended for its helpful and responsive customer support team. Several reviewers note that the team is easy to reach and provides clear, actionable advice.
- Ease of Use: The user interface on MyCompanyWorks’ website is intuitive and easy to navigate, making the LLC formation process as simple as possible for users.
- Transparency: MyCompanyWorks is known for its transparent pricing. There are no hidden fees, and the costs are clearly outlined upfront, so you know exactly what you’re paying for.
Negative Feedback
- Up-selling: Some customers have reported feeling pressured to purchase additional services, such as Registered Agent or corporate kits, even after purchasing an LLC formation package.
- Billing Issues: A few users have mentioned issues with billing, particularly when it comes to canceling services or refund requests. It’s important to carefully review the terms and conditions to ensure that you understand the cancellation policies for any additional services you may choose.
- DBA Registration Service: While the DBA registration service is convenient, some users have found it to be not as thorough as other competitors’ offerings. For example, some customers reported that the preliminary name check didn’t catch all potential conflicts, leading to delays.
Overall, MyCompanyWorks maintains a solid reputation for reliability, but like any service, it’s not without its occasional hiccups.
Comparison with Competitors
When deciding on an LLC formation service, it’s important to compare options. MyCompanyWorks competes with several other well-known LLC formation services, such as ZenBusiness, LegalZoom, and IncFile. Let’s see how it compares to some of these competitors:
ZenBusiness vs. MyCompanyWorks
- Pricing: ZenBusiness offers a free LLC formation plan (just pay state fees), while MyCompanyWorks charges at least $79 for its Basic Package.
- Services: ZenBusiness also offers Registered Agent services, and while both companies offer fast processing times, MyCompanyWorks is known for slightly faster document filing.
- Customer Satisfaction: Both companies have positive reviews, though MyCompanyWorks is often praised for its more personalized customer service.
LegalZoom vs. MyCompanyWorks
- Pricing: LegalZoom is typically more expensive, with basic plans starting at $79 plus state fees. However, LegalZoom offers more extensive legal services beyond LLC formation, such as trademark registration and legal consultations.
- Reputation: LegalZoom is widely recognized and has a long track record of serving businesses. However, MyCompanyWorks excels in the speed and affordability of its services, making it an attractive option for entrepreneurs on a budget.
IncFile vs. MyCompanyWorks
- Pricing: IncFile offers a free LLC formation service (state fees apply), which is cheaper than MyCompanyWorks’ starting price. However, IncFile’s free service is limited, and additional services cost more.
- Customer Service: While IncFile offers decent customer service, many users prefer MyCompanyWorks for its hands-on approach and more responsive support team.
Pros and Cons of MyCompanyWorks
Pros:
- Fast processing times: MyCompanyWorks guarantees same-day processing for LLC formations.
- Comprehensive services: The company offers a range of additional services, including Registered Agent service, DBA registration, and business compliance packages.
- Clear pricing: There are no hidden fees, and the pricing structure is transparent.
- Excellent customer support: The customer support team is frequently praised for being helpful and responsive.
Cons:
- Additional costs for services: Many of the additional services, like Registered Agent and corporate kits, come at an extra cost, which can add up quickly.
- Up-selling: Some customers have reported feeling pushed to buy extra services after purchasing the basic LLC formation package.
- Limited DBA service: The DBA registration service is not as thorough as some competitors, leading to potential issues with name conflicts.
Final Verdict: Is MyCompanyWorks Right for You?
MyCompanyWorks offers a great blend of affordable pricing, fast processing times, and a wide range of additional services, making it a solid choice for entrepreneurs looking to establish their businesses. Whether you need an LLC formed quickly or require additional services like DBA registration or a corporate kit, MyCompanyWorks has you covered.
However, it’s important to weigh the additional costs of services like Registered Agent and business compliance packages, especially if you’re on a tight budget. Additionally, if you’re looking for an all-inclusive service with extensive legal consultations, LegalZoom or ZenBusiness may be better options.
If you value speed, affordability, and responsive customer support, MyCompanyWorks is an excellent option for getting your business up and running. Just make sure to carefully review the pricing and additional service fees to ensure it’s the right fit for your business needs.
FAQ’s
Does MyCompanyWorks offer a money-back guarantee?
Yes, MyCompanyWorks offers a satisfaction guarantee. If you’re not happy with their services, you can request a refund within 90 days of purchase (excluding state filing fees).
How long does it take to form an LLC with MyCompanyWorks?
If you submit your documents before 3 PM ET, MyCompanyWorks guarantees same-day processing. However, the time to officially form your LLC depends on your state’s processing times.
Is Registered Agent service required?
Yes, every LLC needs a Registered Agent, and MyCompanyWorks provides this service for $119 per year.
Are there any hidden fees?
MyCompanyWorks is known for its transparent pricing, but additional services such as Registered Agent and DBA registration come at extra costs, so make sure to check all fees before committing.
How does MyCompanyWorks compare to other LLC formation services?
While services like ZenBusiness and LegalZoom offer more extensive legal resources, MyCompanyWorks excels in affordable pricing, speed, and customer support.