Everyone knows that incorporating a company is not easy. It takes quite a bit of time and effort to do because of all the processes and the paperwork that needs to be done. The good news here is that you don’t need to do all of that tedious work. You can hire a third-party company to do it for you.
And that’s exactly what MyCompanyWorks can do for you. They are a professional service that can handle the whole process and paperwork for you so that you don’t need to do it yourself.
This review will talk about all the details that you must know about MyCompanyWorks before you avail of their services. That way, you’ll know exactly what you’re getting into. So without further introduction, let’s get started with our review.
Pricing and Features
First, it’s important to discuss each of their individual product packages and their pricing, so you can learn and understand what they have to offer. To give you a quick overview, there are three main packages that they offer– the Basic package, Entrepreneur package, and Complete package.
While they do offer a great line of packages all with some great features, there are a lot of extras that are pretty much the same as other features. However, their service is pretty much worth the money since they can get the job done.
Plus, this company is known to cater to the individual needs of the client. So while the packages are pretty standard, the services are customized.
In any case, this section will be listing down the packages and the features one by one below. Check them out:
Basic Package- $79
Let’s start with the most affordable package, the basic package at $79. If you want to open up a small LLC or small corporation, this is a great package to have. It has some of the most basic stuff that you need as an entrepreneur. Here are the inclusions:
Company Name Registration
First, they can do the company name registration. Before you even register a company, you need to first check if the name you want for your company is taken or not.
What MyCompanyWorks can do is that they can search your state’s database to see if ever the name you want for your company is taken or not. If it is not, then they will push through with the registration. If it is, then they will get back to you and ask for changes.
Filing Preparation
Once the name has already been chosen, then the next thing that they will do is start with the filing. This can be done for both LLC and corporations. The articles of incorporation/organization will be created and then filed with the state.
Take note that the filing fee is not included in the basic package fee. So the $79 will exclude the filing fee which is usually dependent on the policies of the state. For some registrations, minutes of the meeting will be required during incorporation.
The great thing is that you don’t need to have an actual meeting. MyCompanyWorks will create custom minutes of the meeting that can be submitted for registration.
Startup Wizard Checklist
This is a pretty cool feature that’s rather unique to MyCompanyWorks. Basically, it is a checklist that outlines all the steps that you need plus all the requirements that you need to prepare for registration and filing.
That way, you know exactly what needs to be done and what needs to be prepared, even though MyCompanyWorks will do it for you. It’s better to be in the know anyway. Plus, there are also a few ebooks that come along with this checklist so they can be pretty useful to you as well.
Entrepreneur Package- $199
The second package that this review will discuss is the Entrepreneur package which has several extra features and add-ins that the Basic Package doesn’t have. Now, what exactly makes the Entrepreneur Package better than the Basic Package?
Well, for one, the filing fee is already included in the package. Aside from that, here are the other features that you can enjoy in the Entrepreneur package aside from the other stuff you’ll find in the Basic Package:
Federal Tax ID
First, you’ll be able to get a Federal Tax ID registration or an EIN. You need this for when you want to have employees or pay taxes.
This is also needed if you want to get a business loan or open up a business or corporate bank account. This is something that you should recommend getting.
Business Certificates
Another thing that you’ll get as a part of the Entrepreneur Package is a full business kit. What’s included in a business kit?
Well, this comes with a binder with a company certificate that has a decorative seal along with all the information about your business. You’ll also have organizational certificates for your LLC and stock certificates for your corporation.
MyCompanyForms
Last on this list is access to MyCompanyForms. This is a list of sample forms that can help your business. This is one of the things that you don’t really need but it’s still pretty cool to have.
Complete Package- $279
Last on the list is the Complete Package which happens to be the most expensive of all of them. Now, take note that it is composed of all the stuff that you have from the Basic and Entrepreneur Package.
Now, this package does include the filing fee. The only thing that it does not include is a registered agent service. This is an added fee that only the Complete Package has because it includes a lot of other things that the previous two packages don’t have.
This means that MyCompanyWorks becomes a registered agent for your company. What does that mean? Well, with the previous two packages, MyCompanyWorks cannot receive important documents for you.
They can just process all of the processes for you but only you can have the documents received. But as a registered agent, MyCompanyWorks can receive and submit all the documents for you.
That way, you don’t need to do anything, and you can just let MyCompanyWorks do all the work. This is great if you have no time on your hands and you just need someone to handle all the work.
If ever you do avail of the Complete Package,you’ll have MyCompanyWorks as your agent for 1 whole year from the date that you avail the package. You also get a chance to have MyCompanyWorks as your agent for $99 per year.
Additional Features
Aside from the main products, are there any other interesting additional features that you can add to your package? Well, there aren’t that many additional features aside from two. You can check them all out below:
Business License Compliance
First of all, you can get an extra business license compliance package. This one only cost $99 per package. If you have this add-on, you’ll get a federal, local, and state business permit that will allow you to be completely business compliant.
And the best part is that MyCompanyWorks will do all the work for you. They will be the ones to apply for all the permits and will also deliver them to you. The only thing you need to do is fill out the forms and submit them to MyCompanyWorks. They will do the rest.
MyCompanyWorks Premium
Another add-on that you can get is MyCompanyWorks Premium. This one is also priced at $99/year. So what does this include? It includes filing services of your annual report and other compliance documents.
You can say that MyCompanyWorks is the one that will take care of all the compliance stuff. They will also make sure that your business does not miss any filing dates or important documents. They will also make sure to call you or notify you if you are missing any deadlines.
Common Questions
Now that you have gone through the important products and features, you might still have a few questions in mind. In this section of this comprehensive review, you can find some of the most commonly asked questions and the answers to each one.
That way, you won’t have any unanswered queries about the services of MyCompanyWorks. Take a look at some of them below:
Q: How far can they help you with your compliance requirements?
A: The good news is that they can completely help you with your compliance requirements but only with the most expensive package. However, you can include the MyCompanyWorks Premium add-on if you are just availed of the Basic Package.
So that will be $79 for the Basic Package and then an extra $99 per year for the compliance. The same thing goes for the Entrepreneur Package. You also won’t have the compliance services. You’ll need to also add $99 for the MyCompanyWorks Premium package.
Q: Do they also publish company information in newspapers for you?
A: Unfortunately, they do not publish company information in the newspapers for you. If you happen to be part of a state that requires you to do such action, you’ll need to do it yourself.
What MyCompanyWorks can do for you is give you instructions on how to go about it. They will also include a list of requirements that you’ll need to publish your business information.
Q: How does MyCompanyWorks compare to their other competitors?
A: Well, from our experience, MyCompanyWorks is more on the affordable side as compared to the competitors.
And the great part of that is MyCompanyWorks does not scrimp on quality. That’s most likely why they have really good reviews on a lot of review sites.
Q: Does MyCompanyWorks have some kind of refund policy if you don’t like their services?
A: Well, that’s the one thing about MyCompanyWorks that you probably won’t really like. For one, there is a processing fee that you need to pay if you want to get a refund. Also, there is a time limit to the refund policy.
The catch here is that if MyCompanyWorks already submits documents to the state government agency, you cannot ask for a refund anymore. So if you want to get a refund, make sure MyCompanyWorks hasn’t submitted the documents yet.
Other Things to Know About This Service
Other than their plan offers, features, and the most frequently asked questions, there are a few other things you need to know before you can decide whether this service is the right fit for you or not.
Reputation
First, let’s talk about their reputation. They were founded in 2001 and they’re still going strong. Also, they have helped about 60,000 new businesses with their compliance registrations and other business opening services.
Another cool thing about the company is that it has also made the INC5000 2017’s list of outstanding companies. This further solidifies its reputation as a great company. We also mentioned that this company has received a lot of great reviews online so that adds to the whole reputation.
Customer Service
Next, let’s talk about customer service. What’s their support like? Well, first of all, there’s email support and phone support. They’re known for fast response and high-quality performance.
However, it’s important to note that their customer support is only open Monday through Friday at certain times. Nevertheless, when you do contact customer support, you’ll find that all your concerns are resolved quickly and satisfactorily.
Processing Time
Another very important thing that customers really look at is the processing time. They want their documents to be processed quickly. So how is MyCompanyWorks with processing and turnaround times? Well, once you have given them all the necessary documents and information, they should only take 15 minutes to submit everything.
Of course, this is only if you submit everything right away. If there are any lacking requirements, they will alert you so that you can cover these requirements. However, to qualify for this, this means that you must submit all the documents before 3 pm.
Otherwise, it will be processed during the next business day. Regardless, once they process it during the next business day, it’ll just take 15 minutes again.
The Bottomline
With all that said, you now have a better understanding of what this service has to offer. However, let’s take a quick look again at what they offer and why you should avail of their services.
For their packages, the ones that MyCompanyWorks offers are rather affordable, with their most basic package priced at only $79. Compared to a lot of other similar companies out there, this is reasonably priced for the features it offers.
Moreover, they know how to perform their job well! Whatever they promise their clients, they make sure they deliver. Same with their Entrepreneur and Complete packages that are priced at $199 and $279 respectively aren’t bad at all compared to the more exorbitant prices out there.
However, these packages can come with features that aren’t necessary and are just for marketing purposes. For instance, the Startup Wizard Checklist and the MyCompanyForms features aren’t really needed.
It was probably just added there to seal the sale. Call it like a bonus product that’s part of the package, but it’s not really necessary and you’ll still enjoy your package, regardless of their inclusion. A better option for business owners like you would have been the inclusion of the registered agent add-on.
They could price it a little higher but at least there’s more value for the cost. It’s certainly better than having a yearly add-on. Other than that, their main services are simply superb, and many of their previous customers would attest to this as well.
Concerning their reputation, they definitely have a strong sense of integrity. They have the necessary credentials to operate as mentioned above. However, more importantly, they have a very strong customer satisfaction rating. That’s because they are honest, transparent, and very attentive to their clients’ needs.
Of course, customer service is also part of being attentive to their clients’ needs and customer service is a big strength of MyCompanyWorks. You can tell that their customer support team is well-trained to be knowledgeable in handling customer queries as well as courteous when dealing with problems.
Finally, they are unmatched in terms of their turnover and processing times. They have a very fast turn over times compared to a lot of other companies in the same industry.
Once you submit your documents and requirements, you can expect results within the same day (granted that you submitted before 3 pm).
Above all, their main strength would have to be their well-roundedness. After all, can you find other companies that offer cheaper rates? Yes, you can. Can you find companies that offer better services?
Certainly, there are some out there. However, MyCompanyWorks was somehow able to find that sweet spot in the middle of affordability and performance. That’s why it’s a pretty good one to have if you want a third party processing your business opening documentation for you.
