The limited liability company is an increasingly popular business structure in America, with thousands of new LLCs being formed every day. The LLC is effectually a hybrid business type, occupying the space between the rigid formalities of a corporation, and the casual nature of a general partnership or sole proprietorship.
While you can create your own LLC, the process for doing so varies from state to state, so there’s no uniform process for forming one. This can make it complicated and time-consuming. Some entrepreneurs choose to hire a business attorney to form their limited liability companies, but this route can be expensive, costing hundreds or even thousands of dollars in attorney’s fees.
The other option is to hire an LLC service to form your company. There are many companies that offer limited liability company formation services online, and it’s sometimes difficult to determine which one has your best interests in mind. If you’re looking to form your own LLC, but you’re not quite sure where to turn, we hope that our comprehensive reviews can help you decide.
In this review, we’ll take a close look at MyCompanyWorks, one of the most popular service providers in the industry. Are they the right service to form your new LLC?
About MyCompanyWorks
MyCompanyWorks was formed as MyNewCompany in 2001, and they’ve formed over 60,000 LLCs and corporations since then. In 2017, they were named to the Inc5000 rankings of the fastest-growing private companies in America.
On their website, MyCompanyWorks explains their mission statement as follows: “We empower entrepreneurs and their advisors by making starting and running a business faster, easier, and less expensive.” Today, they’re one of the nation’s biggest service providers for incorporations, LLC formations, registered agent, and many other services for small businesses.
A fun fact about MyCompanyWorks is that every purchase you make from them is covered by their 100% satisfaction guarantee. You have a generous 90-day window to request a refund, and they will refund your service fee.
While they state that they “cannot refund money charged by the government,” they are “very flexible and willing to work with you to ensure your satisfaction.” Overall, this is a much more generous refund policy than many of their competitors offer.
30-Second Summary Of Our Review
MyCompanyWorks won’t blow you away when it comes to the pricing and included features in their LLC formation packages, but they do have some advantages of their own.
The most impressive aspect of MyCompanyWorks as a company is their strong customer feedback, as nearly all of their 3,900+ online reviews are positive. We also appreciate the fact that they guarantee that all LLC formation orders will be processed and filed with the state within one business day.
MyCompanyWorks Strengths
- Strong customer reviews – We found more than 3,900 reviews for MyCompanyWorks, and almost all of them are positive.
- Guaranteed next-day processing – Some competitors charge extra for next-day processing. MyCompanyWorks includes this feature for free with all of their business formation service packages.
- Affordable $99 registered agent service – If you’re looking for a registered agent, MyCompanyWorks has a highly reasonable $99 price point for this service. Most competitors charge significantly more than this.
- 100% satisfaction guarantee – Every purchase made from MyCompanyWorks includes their comprehensive satisfaction guarantee. It’s one of the best refund policies in the industry.
MyCompanyWorks Weaknesses
- Registered agent service only included in top-tier packages – While their registered agent service is affordably priced, they only bundle it in with your formation if you purchase their most expensive packages. Some competitors offer a year of annual reports or registered agent service with any formation plan.
Pricing & Additional Features
- Basic ($59) – This package includes the essentials of LLC formation: a business name availability check, along with the preparation and filing of your articles of organization. In addition, you’ll receive a custom operating agreement, custom meeting minutes, and more.
- Entrepreneur ($199) – This package includes all features of the Basic package, then adds a federal tax ID number (EIN), one year of registered agent service, and access to 200+ sample documents.
- Complete ($279) – This package includes all features of the Entrepreneur package, then adds one year of MyCompanyWorks Premium, a managed annual report service.
MyCompanyWorks vs Other LLC Services
While we appreciate many aspects of MyCompanyWorks, they do fall a bit short of some competitors. There are several service providers that offer LLC formation service for a lower price point, while also including more valuable features.
For more information, take a look at our list of the top LLC websites available online.
Online Customer Reviews
Most of MyCompanyWorks’ thousands of customer reviews are located on Shopper Approved, where they hold a 4.9 average score (out of 5) with 3,887 reviews. Their clients seem pleased with the efficiency of MyCompanyWorks’ services, as well as with their thorough explanations for each step of the LLC creation process. Customer feedback is a strength for MyCompanyWorks.
Customer Service Quality
MyCompanyWorks provides access to their customer support team via phone or email. In our experience, and also based on their customer feedback, either option gives you quick response times and well-informed assistance from their team of knowledgeable professionals.
The only issue with their customer support is their short window of availability, as their representatives are only available from 11am until 7pm ET on weekdays.
Main Reasons to Use MyCompanyWorks
Are you looking for a company that gets positive feedback from their clients? Perhaps you prefer using a company that offers a comprehensive money-back guarantee with a generous 90-day window? These are the two best reasons to use MyCompanyWorks to form your new LLC.
Main Reasons Not to Use MyCompanyWorks
To be perfectly honest, there are some competitors that can significantly undercut their prices while also including more features. For example, with ZenBusiness LLC formation service, you’ll pay $49 and receive annual report service, along with other valuable features. ZenBusiness’ registered agent service is also worth a look!
Conclusion