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Starting a business can seem overwhelming at times. The paperwork alone related to business formation can be daunting at best. In 2001, MyNewCompany opened its doors in Las Vegas, Nevada.
Their mission was to make running a business easier for new business owners. In 2017, they changed their company name, and as their new identity, MyCompanyWorks, they continue to strive to meet that mission today.
This MyCompanyWorks Review will provide an in-depth look at the company. We will show you their package prices and extra services. We will analyze their pros and cons and examine the experiences of their customers, both past and present.
Finally, we will compare MyCompanyWorks to two of their competitors and provide the answers to frequently asked questions.
In Depth Look at MyCompanyWorks
The vision of the founders of MyCompanyWorks was to make it easier for new entrepreneurs to start and run their businesses. To date, they have successfully helped more than 60,000 entrepreneurs form and run a company.
Track Record
For being one of the smaller business formation companies, they have an impressive track record. They have a 100% satisfaction guarantee, and their refund policy is more comprehensive than most of the competition.
They have exceptional customer feedback that focuses on how quick and easy it is to start a business using their services.
LLC Formation
The MyCompanyWorks LLC formation is easy to use. Their Startup Wizard is easy to use and explains every step of the setup process.
They perform your business name availability search, prepare and file your Articles of Organization and create a personalized operating agreement for your company.
They also provide you with a convenient LLC handbook that answers most online LLC service questions.
Customer Service
The customer support department is knowledgeable and quick to respond to questions via phone or e-mail.
Their customer service professionals are available by phone from 11:00 am to 7:00 pm EST.
While these are shorter hours of availability than most of their competitors, they more than make up for it with their quality of service.
Ease of Use
MyCompanyWorks has streamlined its order processing system to be convenient for its customers. There is a lot of information available on their site that explains each step of the process and offers guidance for running a new business.
The menus on their site are very clear and finding the information you need is easy. If you want to learn more, their blog offers a lot of helpful articles about starting and staying in business.
Overall Value for the Money
Business formation package prices are affordable in comparison with most of their competition. Unless you are purchasing their Complete package, you will not get a free year of registered agent services; however, their yearly price of $99 for those services is less than their competitors.
While many of their competitors offer more in their packages, there are plenty who offer far less making this company a good value overall.
MyCompanyWorks Packages and Pricing
MyCompanyWorks offers three different packages for their LLC formation services: Basic, Entrepreneur, and Complete. Here is the breakdown of each package:
Basic Package
The Basic Package costs $79 plus the state fee. Included in the Basic Package is:
- Name Availability Search. They will do a availability search of the business database in your chosen state of formation to confirm that your chosen name is available and not claimed by a different business.
- Prepare and File Articles of Organization. This is the documentation required by each state to officially form your LLC. Once they prepare this documentation, MyCompanyWorks will file it with your state of formation.
- Personalized LLC Operating Agreement. The operating agreement will outline your chosen ownership structure of your LLC. It will also provide information about how you will operate your new business.
- Organizational Minutes. Even though taking meeting minutes is not a requirement for LLCs, these customized minutes forms will help you organize your meetings.
- Unlimited Customer Support. Every customer of MyCompanyWorks will have unlimited access, both by phone and by e-mail, to the customer support department.
- Company Alerts. You will never miss an important filing or compliance deadline with this convenient tool to help you keep track of those important dates.
- Same Business Day Processing
Entrepreneur Package
The Entrepreneur Package costs $199 plus the state filing fee. This package includes everything found in the Basic package as well as:
- Employer Identification Number (EIN). The EIN is assigned by the IRS and serves as a social security number for your business. Having an EIN is mandatory and it will allow you to hire employees, pay business taxes and open a business bank account.
- LLC Kit and Seal. The kit includes a binder embossed with your company name along with a decorative seal and several samples of forms you might need to run your company.
- Business Forms. The MyCompanyWorks business forms include numerous sample documents in addition to a library that holds over 200 customizable commonly used business forms.
Complete Package
The Complete Package costs $279 plus the state filing fee. It includes everything found in the Entrepreneur package as well as:
- One Year Registered Agent Services. It is a requirement that every LLC in the US designates a registered agent for the company. The registered agent is an individual or business that agrees to receive all important documents delivers from your state of formation on your behalf. This requirement is in place so that your state of formation always has a way to contact your business.
- With the Complete Package from MyCompanyWorks you will also get free business tax consultation from experts.
- Business License Compliance Package
MyCompanyWorks Additional Services
The following services are available to their customers for a fee:
Registered Agent Service
For a competitive rate of $99 per year, the company will provide you with the mandatory registered agent service. This service is also a part of their Complete package. Pricing for this service is lower than that of most of their competitors in the business formation industry.
DBA Name
If you do not want to form a separate business entity, a DBA (doing business as) name gives you the legal right to use an assumed business entity name. The price of $99 is equal to the rates charged by other business formation services.
Annual Report
Most states require each business entity to file an Annual Report each year to keep the state updated regarding information such as your address and designated registered agent. The price of $49 is not only reasonable, it is one of the lowest prices in the industry for this service.
Amendments
Whenever you make important changes to your business, you need to file an amendment with your state of formation. For $99 plus the state filing fee, they will fill your amendments on your behalf. The price is equal to that charged by the competition.
Business License Research Package
For $99, this additional service will provide you with a listing of all licenses and permits your state requires for you to keep your business in compliance with state regulations. While you will need to apply for the licenses on your own, having this comprehensive list handy is can help you stay in compliance at all times. Not everyone in the industry offers this service, but those who do have similar pricing.
Dissolution
In case things don’t work out and you need to shut down your business for good, for a reasonable $99 fee, they will complete and file your dissolution paperwork with the state. This will officially close your business and cancel all fees for any ongoing compliance requirements. This is a great price as many competitors will charge an average of $50 more for this same service.
MyCompanyWorks Premium Services
For $99 per year, this add-on service package includes the Annual Report Service and the company’s business status monitoring system called the ComplianceLock Dashboard. They will also provide you with access to five GB of online storage and access to a library of more than 200 business and tax forms. Considering that the Annual Report service alone costs $49, this is an extremely useful and reasonable add-on tool.
LLC Kit
For $79, the LLC Kit includes a binder with your company name and seal on it. We consider this a luxury item as it is not an absolute necessity. With that said, the price if you are interested in this option is lower than that asked by most of the competition. Additionally, MyCompanyWorks offers Business License Compliance Package.
Apostille
An Apostille certificate allows you to operate your business in a foreign country. For $69, MyCompanyWorks will file this documentation on your behalf. This is the lowest price for Apostille that we have seen among other business formation companies.
Certificate of Good Standing
Certification that your company is in compliance with all state regulations. The price of $35 is lower than the competition, and a great deal.
Foreign Qualification
If your LLC is already formed and doing business in a different state, you will need to file Foreign Qualification with your state instead of doing an LLC formation. The $99 price tag is far below many other business formation companies.
Certified Copy
For $35, they will acquire any necessary certified copies of your business formation documentation. This price is once again significantly lower than that charged by the majority of other business formation companies.
Virtual Office Services
For businesses formed within the states of Nevada and Wyoming, MyCompanyWorks offers virtual office services starting at $39. This service includes an actual physical street address and suite number to receive mail and packages, mail forwarding to any location, phone and fax numbers within your preferred area code, voicemail, unlimited inbound and forwarded calls to anywhere within the US or Canada, 1000 minutes per month of free outbound US domestic calls, and numerous other services that allow you to remotely manage a virtual office from any location. We have not seen other companies offer this service anywhere, and it is too bad that they only offer it in Nevada and Wyoming.
MyCompany Works Pros and Cons
Every company has pros and cons, and MyCompanyWorks is no different. Here are the pros and cons for the company:
- Exceptional customer service
- Much of the pricing for their additional services beats the competition
- Packages are priced competitively
- Lots of happy customers as shown in thousands of reviews
- Virtual office services option, although only good for businesses formed in Nevada and Wyoming
- Registered agent services for $99 a year
- Same day order processing
- 100% satisfaction guaranteed
- Free registered agent service is only offered with their complete package
- Does not offer publications services for those states that require that
- Entrepreneur and Complete packages do not offer as many additional services as the competition offers with their top-tier packages as part of their core services
Customer Experiences with MyCompanyWorks
When looking at the thousands of reviews that exist online with Google reviews as well as ShopperApproved reviews, we have yet to discover a negative review. Their average of 4.8/5 stars for close to 3,000 reviews is hard to beat. The common themes in these reviews include:
- Simple application process that you can complete in a few minutes
- Quick processing times
- Knowledgeable customer support staff
- Long term customers who are still happy with the core services after several years
- Accuracy in all core services
- Same Business Day Processing
Is MyCompanyWorks Right for Me?
MyCompanyWorks may be right for you if you are looking for exceptional customer service and a Personalized LLC Operating Agreement at a fair price. Additionally, if you are a Nevada or Wyoming company, their virtual office service prices are an incredible deal.
If you are looking for more advanced features in their LLC formation packages, there are several options with the competition for core services such as publication services, domain name and websites, trademarks, and of course first year of free registered agent service with every package and free business tax consultation services with Complete Package.
MyCompanyWorks Alternatives
Top alternatives in the business formation industry include ZenBusiness and Northwest Registered Agent. Here we compare these companies to MyCompanyWorks:
ZenBusiness VS MyCompanyWorks
Since opening its doors in 2015, ZenBusiness has already formed over 150,000 businesses with a goal of forming one million within the next five years. They are relative newcomers to the industry, but they are already considered to be one of the top business formation companies.
ZenBusiness and MyCompanyWorks share the following things in common:
Customer Support
Both companies are known to provide exceptional customer support for their clients, and they both have online reviews to prove it.
Track Record
Both companies have helped thousands of satisfied customers form their businesses. Both are known to process LLC formations quickly with good turnaround times.
Availability of Additional Services
Both companies have a number of extra services available at affordable prices. While not all of the available services are the same, the selection for both companies is impressive.
Affordability
In comparison to many other business formation companies, both ZenBusiness and MyCompanyWorks offer packages at affordable prices.
The two companies differ in the following areas:
Registered Agent Services
ZenBusiness offers a free year of registered agent service with all of its packages, with the price for subsequent years set at $119 per year. MyCompanyWorks offers this service for $99 a year as an add-on to every package except their Complete package.
Pricing and Components of Packages
ZenBusiness offers a lot more in their package deals. Their basic package starts at just $49 plus state filing fee complete with a free year of registered agent service making it one of the lowest priced options in the industry. The pricing on their upper two packages are the same as those of MyCompanyWorks, but their Premium plan offers far more than that offered in MyCompanyWorks Complete plan.
Publication Services
ZenBusiness offers publication services for those states that require it while MyCompanyWorks does not.
If you think that they would be a good fit for your business formation services, visit ZenBusiness for more information.
Northwest Registered Agent VS MyCompanyWorks
Northwest Registered Agent opened its doors in 1998. Since then, they have helped with the formation of more than two million businesses. They average 200 new business formations every day.
Northwest Registered Agent and MyCompanyWorks share the following similarities:
Efficiency
Both companies have a policy of immediately processing new business formations. Therefore, the turnaround times tend to be quicker for entrepreneurs who form businesses with these companies.
Customer Reviews
Despite the difference in the number of businesses each company has formed, the customer reviews for both companies are extremely positive. Ironically, the company that has formed only sixty thousand businesses has thousands of more online reviews than the company that has formed more than two million businesses.
Experience
Both companies have been in business for twenty years or more. Their experience and knowledge of business formation are extensive. While the number of businesses formed varies greatly between these two companies, their experience in the industry gives both of them an edge.
Educational
Both of the websites offer an extensive selection of articles designed to help new entrepreneurs. Not only that, the information is easily accessible on their websites.
Additional Services
Both companies offer a variety of additional service offerings. They share most of the essentials such as name searches, DBAs, and annual reports. Some differences in this category are that Northwest Registered Agent is the only one of the two to offer domain name registration while MyCompanyWorks offers virtual office services.
Ease of Use
Both websites are extremely easy to use. Finding information and processing your LLC application are seamless operations on both. Neither of these companies wastes time attempting to upsell the customer, although MyCompanyWorks does offer a number of third-party vendor services as stand-alone services. Both companies also offer a free order-tracking tool so that you can follow the progress of your business formation.
Where the two companies differ:
Registered Agent Services
Northwest Registered Agent offers a free year of registered agent service with every LLC Formation package and subsequent years for $125 per year. While MyCompanyWorks only offers a free year of this service with their Complete package, their stand-alone price for registered agent service is an affordable $99 per year.
Overall Package Pricing
Northwest Registered Agent’s packages are expensive in comparison to MyCompanyWorks. They are also more comprehensive and offer more services in each package. While their prices are higher, overall, Northwest offers more value for the money.
If you think they would be a good fit for your business formation requirements, visit Northwest Registered Agent today for more information.
Visit Northwest Registered Agent
MyCompanyWorks FAQs
What is MyCompanyWorks?
Originally named MyNewCompany when they opened their doors in 2001, MyCompanyWorks is a business formation company whose goal was to make it easier for entrepreneurs to start a new business. Since their inception, they have helped new business owners start more than 60,000 new businesses.
Is MyCompanyWorks Legit?
Yes. The company is legit. They have earned an A+ rating with the Better Business Bureau, and enjoy thousands of five-star customer reviews.
Who should purchase the Basic package?
The Basic package is ideal for an entrepreneur who values great customer support and who places a priority on getting a customized operating agreement at an affordable price. This package also offers a convenient guide to LLC formation.
Who should purchase the Entrepreneur package?
Entrepreneurs who should purchase this package include those who find value in the kit and seal and the document library. The EIN is something that every new business owner needs, so the convenience of having them obtain your EIN in addition to the other contents of this package would be a good deal.
Does MyCompanyWorks Offer Any Discounts?
They do offer discounts. If you enter a coupon code of STARTUP10 during checkout, you can receive a 10% discount on your order.
What Are MyCompanyWorks’s Biggest Advantage and Disadvantage?
Their biggest advantage is their customer support and their customer reviews. Their biggest disadvantage is the failure to offer a free year of registered agent service with all of their packages, and not just their Complete package.
Does MyCompanyWorks Have Good Customer Support?
MyCompanyWorks has outstanding customer support. Their thousands of five-star reviews consistently mention the quality of the support team. Their rapid turnaround for phone calls and e-mail inquiries makes their customer support team even more valuable.
If I Use MyCompanyWorks, Which Features Should I Buy?
If you choose to use MyCompanyWorks, you will want to buy their registered agent service. The price tag of $99 per year is very competitive, and every business is required to designate a registered agent. The service is available as part of their Complete package, but if you don’t need the extras beyond the basic package, then consider this a
great add-on purchase.
Their prices for a Certificate of Good Standing are another add-on that should be considered. This document proves that you are in compliance with the regulations in your state of formation. Other business formation companies offer this at a much higher price, so the $35 price tag is a good bargain.Does MyCompanyWorks Sell or Share My Information With Third Parties?
They do have some special offers that require sharing your information with a third party if your choose to take advantage of them. If you do not want your information shared, you can always notify them that you want to opt-out of their special offers.
Do They Handle NY Publication or Alabama Name Reservation?
No, they do not offer these services.
What Is Their Refund Policy?
Their refund policy states that if you are dissatisfied with the products or services you have purchased, they will provide a refund of the purchase price less any government fees and third-party costs that have already been incurred. A request for refunds needs to be made within 90 days of purchase.
If your refund request is for a formation filing, the following will be considered:
• If your request comes in prior to the business name availability check has been completed, you will be refunded the full amount less a $25 processing fee.
• If your request comes in following the name availability check but prior to the creation of the formation documentation, you will receive a refund less a $50 filing fee.
• If they receive your request after the formation documentation has been created but prior to being filed with the state, you will receive a refund less a $75 processing fee.
• Once the documentation has been shipped to the state filing office for processing, they are unable to cancel your order and no refund will be available.How Does MyCompanyWorks Compare to Other LLC Services?
MyCompanyWorks is a lot smaller than a lot of the other top business formation companies. They stand out above the rest in their customer reviews, and they do have an A+ Better Business Bureau rating.
Their failure to include a free year of a registered agent option with all their LLC formation packages is a negative mark for them. Most of the competition includes the first year of registered agent services free of charge with all their packages.
Pricewise, their rates are better than many of their competitors; however, many of the other companies in this industry offer a lot more options with their packages.
In Closing
MyCompanyWorks is a good company. They have a great track record, and they do stand out among the competition. Many of their add-on services are priced competitively, as is their yearly fee for registered agent services. We do consider it a negative that registered agent services are not automatically included in all three of their package options. Their exceptional customer service reputation and strong reviews place them among some of the top companies in the business formation industry. For more information or to get started with your LLC formation, visit MyCompanyWorks today.
