Do you need to incorporate online, and you prefer to have a professional service handle the paperwork for you? MyCompanyWorks is one of several companies that can get the job done. In this review, we’ll talk about the important details you need to know before choosing their service. If you’d rather see a quick overview of the best incorporation companies, see our comparison guide.
Overview
When it comes to online incorporation services, here’s what matters most:
- Is it a good deal?
- Is it a reliable company?
- Is there good customer support?
- Is the incorporation website easy to use?
- How quickly do they incorporate your business?
Based on these criteria, MyCompanyWorks is a good service. They offer a solid selection of valuable features with their packages, and they have a high volume of positive customer reviews.
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Deep Dive Into MyCompanyWorks Review
Overall Pricing and Value
While they’re not as expensive as some services, there are also more reasonable offerings available. Their basic package is $59, which isn’t a bad price considering the business documents included, but there are some competing companies that offer lower prices and/or more valuable features.
MyCompanyWorks does guarantee that they’ll process your order within one business day without charging extra, which is definitely a welcome feature. And, even though you do have to pay extra for their registered agent service (unless you purchase one of their two upper-tier business formation service packages), it only costs $99 per year, which is one of the lowest prices we’ve seen.
Track Record
Founded as MyNewCompany in 2001, they recently changed their name to MyCompanyWorks. Since they opened for business, they’ve helped form more than 60,000 companies.
One aspect of their service that we really appreciate is their 100% satisfaction guarantee. It’s one of the best refund policies in the industry, as they will refund your service fee at any time within 90 days of your purchase, for any reason.
They also made Inc5000’s 2017 list of the fastest-growing private companies, which is an impressive accomplishment. This indicates that customers are using the service and either returning to use it again or recommending it to friends.
When it comes to customer feedback, MyCompanyWorks has a positive reputation. They have around 4,000 reviews available online, and over 97% of them are either 4- or 5-star ratings. In those positive reviews, their clients often discuss how quick and easy they make forming a business, and how well MyCompanyWorks explains each step of the formation process.
Customer Support
MyCompanyWorks offers phone and email support. We reached out via the form on their website and received a response back in less than 24 hours. They answered our question and included a couple of links to their website that helped expand upon their answer.
We also called to see how their customer service via phone is. The representative we spoke to was courteous and answered our question with some elaboration. They also asked if we had any other questions or wanted to start the process of forming a business while we were on the phone.
The only downside to their customer support is the fact that their phone support is only available from 11am to 7pm ET Monday through Friday, which are among the shortest availability hours in this industry.
Ease of Placing an Order
The point of using an incorporation service is to save time and make the formation process simple. With some online services, it can still feel like you’re basically filing on your own. But with MyCompanyWorks, the process is straightforward and streamlined to be as convenient as possible.
Once you’ve selected a package and any add-ons you need for your business, the application process is quick and easy. As long as you have all of the information you need, it shouldn’t take longer than 10-15 minutes.
If you’re not sure where to begin with forming your business, they have a list of helpful articles covering topics like where to form your LLC or corporation, and which of those entities is the right choice for you.
Overall Turnaround Time
MyCompanyWorks guarantees that they’ll process your formation paperwork the same day you submit your order if it’s before 3pm ET, or the next business day if you submit your order after 3pm ET. They also offer an upgrade to expedite service with the state once the paperwork is filed.
Overall, MyCompanyWorks can have your LLC or corporation formed within just one business day in some states, while others can take a few weeks. Regardless of which entity you’re forming, or where you’re forming it, they have detailed estimates for both standard and expedited service on the order form.
In general, we’ve noticed that their turnaround times are often slightly faster than their competitors, so this category is a pro for MyCompanyWorks.
Pricing & Features of Each Package
Like most formation services, MyCompanyWorks offers three packages. At first glance, it appears that they include quite a bit in their packages, but some of it is “fluff” added to make the list of features look more impressive. For example, they list things like customer support and order tracking as features.
That being said, they do offer a handful of good features that would be very helpful to new business owners.
As with many services, the features that are included in the price of larger packages are available as individual add-ons for the lower-level packages. This personalization can be helpful for a business owner working within a budget who may need one feature, but not others.
Basic ($59)
This Package Is Best For: Entrepreneurs looking to form an LLC or corporation while receiving some helpful business documents.
The Basic package costs $59 plus the state filing fee, and it includes:
- Name availability search – MyCompanyWorks will search your state’s business database to make sure that your desired company name is available, and hasn’t already been claimed by another business entity.
- Preparation and filing of articles of organization (LLC) or incorporation (corporation) – They will create your formation documents, then submit them to your state government to officially form your new business.
- Custom meeting minutes – Minutes provide an outline for your official business meetings, and also provide space to take notes on what happens at those meetings. While minutes are only required for corporations, MyCompanyWorks provides them for LLCs as well.
- Startup Wizard interactive startup checklist – This helpful document outlines the additional steps you’ll need to complete after your formation (like acquiring licenses and permits) in order to operate your LLC or corporation in a compliant fashion.
- Free ebooks
- Electronic access to scanned copies of your completed formation documents
LLC Only:
- Custom operating agreement – This internal document outlines how the business will be governed from both managerial and financial standpoints.
Corporation Only:
- Custom bylaws – The bylaws are the internal rules and regulations for the daily operations of the corporation, including items like how many directors are on the board, when/where shareholder meetings are held, etc.
Entrepreneur ($199)
This Package Is Best For: Entrepreneurs who want to form an LLC or corporation while also getting an EIN and registered agent service.
The Entrepreneur package costs $199 plus the state filing fee, and it includes all features from the Basic package. This package also includes:
- Registered agent service – As your registered agent, MyCompanyWorks will receive your important document deliveries, scanning and forwarding them to you as necessary. This keeps your personal info out of the public record, cuts down on junk mail, and eliminates the risk of missing an important delivery. After your included first year, registered agent service is available from MyCompanyWorks for just $99/year, which is a lower rate than most competitors charge.
- Federal tax ID number (EIN) – MyCompanyWorks will acquire your EIN, which you’ll need if you want to hire employees, and it also helps you pay business taxes, open business bank accounts, etc. You can acquire your own EIN from the IRS for free, but this feature removes that hassle.
- MyCompanyForms – Lifetime access to MyCompanyWorks’ 200+ professionally prepared sample forms to help you operate your compliant business well into the future.
Complete ($279)
This Package Is Best For: Entrepreneurs who want to form an LLC or corporation while getting everything they could possibly need to get off the ground with minimal effort.
The complete package is $279 plus state filing fees. It includes everything from the Entrepreneur package, then adds the “MyCompanyWorks Premium” upgrade, typically priced at $99 per year. This feature includes the filing of your annual report and access to a compliance dashboard. They will also monitor your business to ensure it is in good standing at all times, alerting you if for some reason you fall out of good standing.
How Does Their Service Work?
When you hire MyCompanyWorks as your incorporation service, they will file your paperwork on your behalf. But first, you have to do a little legwork. Here’s a quick rundown of what you can expect with MyCompanyWorks:
Choose a package: The very first step you’ll complete with MyCompanyWorks is to build your package. This includes selecting your state, company type, your package, and any add-ons you want to use. MyCompanyWorks makes it clear what your price is throughout the entire process.
Enter information about your business: You’ll need to include your contact information and information about the company itself. For example, you’ll list your name, your business management, your registered agent, and more. This is the most time-consuming step, but it’s what makes it possible for MyCompanyWorks to form your business for you.
Review and pay: MyCompanyWorks gives you one last chance to confirm your order details before you pay. You’ll need to have a credit card on hand, too.
After that, you’re all set! MyCompanyWorks will form your business for you.
Who Is MyCompanyWorks Best For?
MyCompanyWorks is best for entrepreneurs who put a lot of emphasis on customer feedback. So if what other customers say is a “make-or-break” factor for you, then MyCompanyWorks is a good option.
But if you want a super value, then there are other options to consider. But ultimately, the decision is yours; to help you make an informed decision, let’s keep digging into the review.
Free
- ✔ Best Prices & Features
- ✔ Thousands of Positive Reviews
- ✔ Socially Conscious Company
What Are Customers Saying?
MyCompanyWorks has positive customer reviews. They have a 4.8 out of 5 stars on both their own website and Shopper Approved. That includes nearly 4,000 reviews, and hardly any of those are 1-star or 2-star reviews.
Here are some of the things customers like about MyCompanyWorks:
- Easy and simple to complete an order
- Quick processing times
- Courteous and knowledgeable customer service representatives
And here are things customers don’t like:
- Order form doesn’t save things reliably, so sometimes you have to repeat steps if session times out
- Order tracking information can be hard to find
All told, MyCompanyWorks gets the stamp of approval from their customers.
LegalZoom vs MyCompanyWorks: What’s the Difference?
On the surface, LegalZoom and MyCompanyWorks seem to accomplish the same purpose: helping you form your LLC or corporation. And while that’s true, the difference between them goes much deeper than that.
Here are a few key differences:
- When stacked side by side, MyCompanyWorks is a more affordable option for incorporation services than LegalZoom. While LegalZoom’s LLC service costs $20 more than MyCompanyWorks, its incorporation service costs $149 compared to MyCompanyWorks’ $59 price point.
- LegalZoom has an impressive customer volume of more than 6 million customers. More than 2 million of those customers are businesses.
- MyCompanyWorks has a more competitive entry-level package than LegalZoom, and they charge just $99 a year for their online registered agent service. By comparison, LegalZoom charges $249 to add registered agent service to your incorporation package, or $299 if you buy it separately.
Final Thoughts on MyCompanyWorks
At $59, the MyCompanyWorks Basic package is quite reasonably priced considering the bonus documents you receive. We also appreciate MyCompanyWorks’ higher-priced packages, thanks to the inclusions of registered agent service and annual report service.
Their client feedback is good, and their customer support is strong as well, despite the short hours of operation.
While there are cheaper options available, as well as those with more advanced features, MyCompanyWorks is still a justifiable option, especially if you’re looking for some business documents to go with your LLC or corporation formation.
That said, if you’re looking for the best value possible in an incorporation service, check out ZenBusiness. We have lower prices than MyCompanyWorks (we even have a free business formation package!) with comparable features and thousands of positive online reviews.
Free
- ✔ Best Prices & Features
- ✔ Thousands of Positive Reviews
- ✔ Socially Conscious Company
Common Questions
What Is MyCompanyWorks?
MyCompanyWorks started out as MyNewCompany in 2001 with one goal: to make starting a business as simple as possible.
And since then, they’ve grown quickly. In fact, in 2017, Inc5000 recognized them as one of the 5,000 fastest-growing private companies in America. During that growth, they’ve helped to form more than 60,000 businesses.
And those 60,000 customers have been quite pleased with their MyCompanyWorks experience — they have positive customer reviews and an A+ rating with the Better Business Bureau.
What Are MyCompanyWorks’ Biggest Advantage and Disadvantage?
The biggest advantage for MyCompanyWorks is its strong customer feedback. Even with their high volume of reviews, MyCompanyWorks maintains good rating scores on review websites, which provides peace of mind for people thinking about using their services. The vast majority of their customers seem satisfied with what they have to offer.
What Is MyCompanyWorks’s Order Process Like?
Have you ever tried to order something online, only to get lost in a never-ending series of cluttered web pages?
The harder it is to order a service, the less likely you are to use it. Streamlined ordering is an important component of any good formation service.
With MyCompanyWorks, the process is simple. You start out by selecting your package and any add-ons you want, and then you input information about your business. If you have all the information you need about your business (your name, your leaders, and more), the process takes about 10-15 minutes.
Do They Offer Publication Service?
In some states, you need to publish your company’s formation in a regional newspaper. For example, Arizona and Nebraska require publication for LLCs and corporations, New York requires it for LLCs only, and Pennsylvania and Georgia have this requirement for corporations only.
MyCompanyWorks does not offer publication service, but they will provide a set of step-by-step instructions to help you complete your own publication requirement. It’s better than nothing.
Does MyCompanyWorks Help With Ongoing Compliance Requirements?
They certainly do, and depending on which package you buy, you might already have these features bundled into your business formation.
MyCompanyWorks offers registered agent service for $99/year, and they also have their MyCompanyWorks Premium feature for $99/year, which includes managed annual report service and a compliance dashboard.
What Is Their Refund Policy?
The MyCompanyWorks refund policy is somewhat convoluted, because depending on when you request your refund, they will assess a processing fee of either $25, $50, or $75. You only have a limited time to request a refund with MyCompanyWorks to begin with, because their refund window closes as soon as they submit your formation documents to the state.
Do I Need to Use a Formation Service?
You don’t need to use a professional service to form a business entity, and plenty of entrepreneurs do choose to form their own corporations or LLCs every day.
Additional Reading
If you’d like to check out more reviews to help start your business, in addition to our own LLC service, here are some of the most popular: