How Much Does It Cost to Start a Business in Santa Fe, NM?
Population: 87,505 | Cost of living: 112.5% | Sales tax: 8.4375% | Min wage: $14.60
Startup Costs by Industry in Santa Fe
| Industry | Estimated Startup Cost | National Average | Local Difference |
|---|---|---|---|
| Accounting Firm | $18,000 - $75,000 | $15,000 - $60,000 | +24% |
| Acupuncture Practice | $9,000 - $55,000 | $10,000 - $60,000 | -9% |
| Affiliate Marketing Business | $2,000 - $14,000 | $500 - $5,000 | +191% |
| After-School Program | $20,000 - $119,000 | $20,000 - $100,000 | +16% |
| AI Consulting Business | $7,000 - $54,000 | $2,000 - $50,000 | +17% |
| Airbnb Rental Business | $11,000 - $55,000 | $10,000 - $50,000 | +10% |
| Amazon FBA Business | $8,000 - $70,000 | $5,000 - $50,000 | +42% |
| App Development | $18,000 - $116,000 | $15,000 - $100,000 | +17% |
| Aquaponics Farm | $18,000 - $141,000 | $20,000 - $150,000 | -6% |
| Arcade & Gaming Center | $92,000 - $549,000 | $100,000 - $500,000 | +7% |
| ATM Business | $5,000 - $53,000 | $3,000 - $30,000 | +76% |
| Auto Detailing | $9,000 - $65,000 | $5,000 - $75,000 | -8% |
| Auto Repair Shop | $57,000 - $302,000 | $50,000 - $300,000 | +3% |
| Axe Throwing Venue | $43,000 - $232,000 | $50,000 - $200,000 | +10% |
| Bakery | $56,000 - $242,000 | $60,000 - $250,000 | -4% |
| Bar | $87,000 - $357,000 | $100,000 - $400,000 | -11% |
| Barbershop | $41,000 - $154,000 | $50,000 - $150,000 | -3% |
| Beauty Supply Store | $25,000 - $121,000 | $30,000 - $150,000 | -19% |
| Bed & Breakfast | $116,000 - $575,000 | $100,000 - $500,000 | +15% |
| Beekeeping Business | $12,000 - $57,000 | $10,000 - $50,000 | +15% |
| Bike Shop | $25,000 - $158,000 | $30,000 - $200,000 | -20% |
| Auto Body Shop | $41,000 - $234,000 | $50,000 - $300,000 | -21% |
| Bookkeeping Service | $3,000 - $18,000 | $2,000 - $10,000 | +75% |
| Bookstore | $43,000 - $184,000 | $40,000 - $200,000 | -5% |
| Boutique | $46,000 - $232,000 | $50,000 - $250,000 | -7% |
| Bowling Alley | $433,000 - $2,754,000 | $500,000 - $3,000,000 | -9% |
| Brewery | $222,000 - $1,249,000 | $250,000 - $1,500,000 | -16% |
| Campground | $109,000 - $1,078,000 | $100,000 - $1,000,000 | +8% |
| Candy Shop | $22,000 - $109,000 | $20,000 - $100,000 | +9% |
| Car Rental Business | $53,000 - $496,000 | $50,000 - $500,000 | Avg |
| Car Wash | $82,000 - $505,000 | $75,000 - $500,000 | +2% |
| Carpentry Business | $20,000 - $101,000 | $15,000 - $75,000 | +34% |
| Carpet Cleaning Business | $5,000 - $33,000 | $5,000 - $30,000 | +9% |
| Catering Business | $26,000 - $134,000 | $20,000 - $125,000 | +10% |
| Chiropractic | $87,000 - $314,000 | $100,000 - $350,000 | -11% |
| Christmas Tree Farm | $26,000 - $158,000 | $20,000 - $100,000 | +53% |
| Cleaning Service | $7,000 - $48,000 | $5,000 - $50,000 | Avg |
| Clothing Store | $21,000 - $121,000 | $25,000 - $150,000 | -19% |
| Coding Bootcamp | $9,000 - $84,000 | $10,000 - $100,000 | -15% |
| Coffee Roastery | $23,000 - $276,000 | $20,000 - $300,000 | -7% |
| Coffee Shop | $62,000 - $245,000 | $80,000 - $300,000 | -19% |
| Computer Repair Business | $5,000 - $33,000 | $5,000 - $30,000 | +9% |
| Concrete Business | $30,000 - $160,000 | $30,000 - $150,000 | +6% |
| Construction Company | $62,000 - $524,000 | $50,000 - $500,000 | +7% |
| Consulting Business | $10,000 - $68,000 | $5,000 - $50,000 | +42% |
| Convenience Store | $48,000 - $312,000 | $50,000 - $350,000 | -10% |
| Courier & Delivery Service | $8,000 - $57,000 | $5,000 - $50,000 | +18% |
| Coworking Space | $80,000 - $384,000 | $100,000 - $500,000 | -23% |
| Cybersecurity Firm | $9,000 - $84,000 | $10,000 - $100,000 | -15% |
| Dance Studio | $30,000 - $139,000 | $30,000 - $150,000 | -6% |
| Daycare | $47,000 - $194,000 | $50,000 - $300,000 | -31% |
| Demolition Company | $63,000 - $290,000 | $50,000 - $250,000 | +18% |
| Dental Practice | $313,000 - $778,000 | $350,000 - $750,000 | -1% |
| Digital Marketing | $10,000 - $63,000 | $5,000 - $50,000 | +33% |
| Distillery | $92,000 - $842,000 | $100,000 - $1,000,000 | -15% |
| Dog Daycare | $38,000 - $280,000 | $40,000 - $350,000 | -18% |
| Dog Grooming Business | $11,000 - $63,000 | $10,000 - $50,000 | +23% |
| Dog Training Business | $4,000 - $28,000 | $2,000 - $20,000 | +45% |
| Dog Walking Business | $2,000 - $11,000 | $500 - $5,000 | +136% |
| Donut Shop | $48,000 - $231,000 | $50,000 - $250,000 | -7% |
| Driving School | $25,000 - $110,000 | $25,000 - $100,000 | +8% |
| Drone Business | $5,000 - $41,000 | $3,000 - $50,000 | -13% |
| Dropshipping Business | $3,000 - $19,000 | $500 - $10,000 | +110% |
| Electrical | $19,000 - $97,000 | $15,000 - $100,000 | +1% |
| Embroidery & Custom Apparel | $9,000 - $48,000 | $10,000 - $50,000 | -5% |
| Escape Room | $50,000 - $326,000 | $50,000 - $300,000 | +7% |
| Etsy Shop | $2,000 - $12,000 | $500 - $5,000 | +155% |
| Event Planning Business | $8,000 - $40,000 | $5,000 - $30,000 | +37% |
| Excavation Business | $88,000 - $396,000 | $80,000 - $350,000 | +13% |
| Farm | $46,000 - $549,000 | $50,000 - $500,000 | +8% |
| Fast Food Franchise | $141,000 - $2,248,000 | $100,000 - $2,500,000 | -8% |
| Fencing Business | $9,000 - $48,000 | $10,000 - $50,000 | -5% |
| Financial Advisory Practice | $9,000 - $48,000 | $10,000 - $50,000 | -5% |
| Fitness Studio | $41,000 - $234,000 | $50,000 - $300,000 | -21% |
| Flooring Business | $13,000 - $77,000 | $10,000 - $60,000 | +29% |
| Flower Shop | $31,000 - $165,000 | $30,000 - $175,000 | -4% |
| Food Delivery Service | $16,000 - $91,000 | $10,000 - $75,000 | +26% |
| Food Truck | $61,000 - $226,000 | $50,000 - $200,000 | +15% |
| Franchise Business | $36,000 - $1,177,000 | $20,000 - $1,000,000 | +19% |
| Garage Door Business | $9,000 - $48,000 | $10,000 - $50,000 | -5% |
| Gas Station | $198,000 - $1,512,000 | $250,000 - $2,000,000 | -24% |
| General Contractor | $34,000 - $205,000 | $30,000 - $200,000 | +4% |
| Ghost Kitchen | $22,000 - $109,000 | $20,000 - $100,000 | +9% |
| Gift Shop | $31,000 - $151,000 | $30,000 - $150,000 | +1% |
| Glamping Business | $17,000 - $158,000 | $20,000 - $200,000 | -20% |
| Graphic Design Business | $6,000 - $29,000 | $3,000 - $20,000 | +52% |
| Greenhouse Business | $26,000 - $203,000 | $30,000 - $200,000 | Avg |
| Grocery Store | $107,000 - $1,408,000 | $80,000 - $2,000,000 | -27% |
| Gym | $86,000 - $425,000 | $50,000 - $500,000 | -7% |
| Hair Salon | $57,000 - $211,000 | $60,000 - $200,000 | +3% |
| Handyman | $10,000 - $49,000 | $5,000 - $40,000 | +31% |
| Home Health Care Agency | $50,000 - $348,000 | $40,000 - $350,000 | +2% |
| Home Inspection Business | $7,000 - $34,000 | $5,000 - $25,000 | +37% |
| Hostel | $41,000 - $234,000 | $50,000 - $300,000 | -21% |
| Hotel | $556,000 - $5,298,000 | $500,000 - $5,000,000 | +6% |
| HVAC | $27,000 - $137,000 | $20,000 - $150,000 | -4% |
| Ice Cream Shop | $52,000 - $275,000 | $50,000 - $300,000 | -7% |
| Insurance Agency | $22,000 - $91,000 | $20,000 - $80,000 | +13% |
| Interior Design Business | $5,000 - $33,000 | $5,000 - $30,000 | +9% |
| IT Services | $17,000 - $102,000 | $15,000 - $100,000 | +3% |
| Jewelry Store | $41,000 - $196,000 | $50,000 - $250,000 | -21% |
| Juice Bar | $40,000 - $187,000 | $40,000 - $200,000 | -5% |
| Junk Removal Business | $5,000 - $48,000 | $5,000 - $50,000 | -4% |
| Landscaping | $14,000 - $82,000 | $10,000 - $80,000 | +7% |
| Language School | $9,000 - $66,000 | $10,000 - $75,000 | -12% |
| Laundromat | $147,000 - $814,000 | $200,000 - $1,000,000 | -20% |
| Lavender Farm | $17,000 - $84,000 | $20,000 - $100,000 | -16% |
| Law Firm | $44,000 - $203,000 | $50,000 - $200,000 | -1% |
| Liquor Store | $92,000 - $353,000 | $100,000 - $400,000 | -11% |
| Locksmith Business | $5,000 - $33,000 | $5,000 - $30,000 | +9% |
| Managed IT Services | $9,000 - $66,000 | $10,000 - $75,000 | -12% |
| Manufacturing Business | $64,000 - $1,076,000 | $50,000 - $1,000,000 | +9% |
| Marketing Agency | $17,000 - $100,000 | $10,000 - $75,000 | +38% |
| Martial Arts Studio | $28,000 - $140,000 | $30,000 - $150,000 | -7% |
| Masonry Business | $19,000 - $99,000 | $15,000 - $80,000 | +24% |
| Massage Therapy Practice | $5,000 - $48,000 | $5,000 - $50,000 | -4% |
| Meal Prep Business | $17,000 - $87,000 | $15,000 - $100,000 | -10% |
| Med Spa | $204,000 - $589,000 | $250,000 - $600,000 | -7% |
| Medical Practice | $101,000 - $576,000 | $70,000 - $500,000 | +19% |
| Microgreens Farm | $3,000 - $21,000 | $2,000 - $15,000 | +41% |
| Mini Golf Course | $88,000 - $502,000 | $100,000 - $500,000 | -2% |
| Mobile Mechanic | $8,000 - $54,000 | $5,000 - $50,000 | +13% |
| Moving Company | $27,000 - $137,000 | $20,000 - $150,000 | -4% |
| Mushroom Farm | $11,000 - $82,000 | $10,000 - $80,000 | +3% |
| Music School | $27,000 - $129,000 | $25,000 - $120,000 | +8% |
| Nail Salon | $36,000 - $144,000 | $40,000 - $150,000 | -5% |
| Notary Business | $2,000 - $14,000 | $1,000 - $5,000 | +167% |
| Plant Nursery | $28,000 - $169,000 | $25,000 - $150,000 | +13% |
| Oil Change Shop | $44,000 - $242,000 | $40,000 - $250,000 | -1% |
| Online Coaching Business | $3,000 - $25,000 | $1,000 - $10,000 | +155% |
| Online Store | $4,000 - $46,000 | $2,000 - $30,000 | +56% |
| Painting | $10,000 - $56,000 | $5,000 - $50,000 | +20% |
| Pawn Shop | $41,000 - $158,000 | $50,000 - $200,000 | -20% |
| Personal Training | $13,000 - $95,000 | $10,000 - $100,000 | -2% |
| Pest Control | $17,000 - $83,000 | $10,000 - $75,000 | +18% |
| Pet Boarding Facility | $50,000 - $443,000 | $50,000 - $500,000 | -10% |
| Pet Sitting Business | $2,000 - $10,000 | $500 - $5,000 | +118% |
| Pet Store | $54,000 - $279,000 | $60,000 - $300,000 | -8% |
| Pharmacy | $283,000 - $1,474,000 | $250,000 - $1,700,000 | -10% |
| Phone Repair Shop | $9,000 - $48,000 | $10,000 - $50,000 | -5% |
| Photography Business | $12,000 - $78,000 | $10,000 - $50,000 | +50% |
| Physical Therapy Clinic | $41,000 - $234,000 | $50,000 - $300,000 | -21% |
| Pilates Studio | $25,000 - $121,000 | $30,000 - $150,000 | -19% |
| Pizza Shop | $70,000 - $272,000 | $75,000 - $300,000 | -9% |
| Plumbing | $17,000 - $94,000 | $15,000 - $100,000 | -3% |
| Podcast Studio | $17,000 - $87,000 | $15,000 - $80,000 | +9% |
| Pool Construction Business | $41,000 - $234,000 | $50,000 - $300,000 | -21% |
| Pool Cleaning & Service | $5,000 - $29,000 | $5,000 - $25,000 | +13% |
| Preschool | $73,000 - $285,000 | $80,000 - $300,000 | -6% |
| Pressure Washing Business | $3,000 - $24,000 | $3,000 - $20,000 | +17% |
| Print-on-Demand Business | $2,000 - $16,000 | $500 - $8,000 | +112% |
| Printing Business | $48,000 - $240,000 | $50,000 - $250,000 | -4% |
| Property Management Company | $6,000 - $37,000 | $5,000 - $50,000 | -22% |
| Real Estate Agency | $29,000 - $123,000 | $25,000 - $100,000 | +22% |
| Real Estate Investment Business | $28,000 - $525,000 | $20,000 - $500,000 | +6% |
| Recording Studio | $43,000 - $205,000 | $50,000 - $200,000 | -1% |
| Restaurant | $85,000 - $332,000 | $75,000 - $250,000 | +28% |
| Retail Store | $41,000 - $230,000 | $50,000 - $250,000 | -10% |
| Roofing | $27,000 - $145,000 | $20,000 - $150,000 | +1% |
| SaaS Company | $26,000 - $208,000 | $25,000 - $200,000 | +4% |
| Security Company | $17,000 - $110,000 | $10,000 - $100,000 | +15% |
| Self-Storage Facility | $389,000 - $4,651,000 | $500,000 - $5,000,000 | -8% |
| Senior Care Facility | $113,000 - $1,128,000 | $100,000 - $1,500,000 | -22% |
| SEO Agency | $10,000 - $64,000 | $5,000 - $50,000 | +35% |
| Sign Shop | $17,000 - $84,000 | $20,000 - $100,000 | -16% |
| Smoke Shop | $25,000 - $121,000 | $30,000 - $150,000 | -19% |
| Solar Installation Business | $41,000 - $234,000 | $50,000 - $300,000 | -21% |
| Spa | $86,000 - $328,000 | $100,000 - $350,000 | -8% |
| Staffing Agency | $37,000 - $164,000 | $30,000 - $150,000 | +12% |
| Subscription Box Business | $7,000 - $60,000 | $5,000 - $50,000 | +22% |
| Swim School | $41,000 - $234,000 | $50,000 - $300,000 | -21% |
| Tanning Salon | $41,000 - $196,000 | $50,000 - $250,000 | -21% |
| Tattoo Shop | $25,000 - $121,000 | $30,000 - $150,000 | -19% |
| Tax Preparation Business | $10,000 - $52,000 | $8,000 - $40,000 | +29% |
| Tech Startup | $22,000 - $169,000 | $20,000 - $150,000 | +12% |
| Thrift Store | $21,000 - $114,000 | $20,000 - $120,000 | -4% |
| Tire Shop | $55,000 - $267,000 | $50,000 - $250,000 | +7% |
| Tour Company | $14,000 - $90,000 | $10,000 - $80,000 | +16% |
| Towing Company | $55,000 - $286,000 | $50,000 - $300,000 | -3% |
| Trampoline Park | $370,000 - $1,707,000 | $500,000 - $2,000,000 | -17% |
| Travel Agency | $8,000 - $44,000 | $5,000 - $30,000 | +49% |
| Tree Service | $13,000 - $84,000 | $15,000 - $100,000 | -16% |
| Trucking Company | $22,000 - $296,000 | $15,000 - $400,000 | -23% |
| Tutoring Business | $4,000 - $21,000 | $2,000 - $15,000 | +47% |
| Used Car Dealer | $48,000 - $334,000 | $50,000 - $350,000 | -5% |
| Vape Shop | $29,000 - $138,000 | $25,000 - $150,000 | -5% |
| Vending Machine Business | $8,000 - $73,000 | $5,000 - $50,000 | +47% |
| Veterinary Clinic | $294,000 - $1,796,000 | $300,000 - $2,000,000 | -9% |
| Videography Business | $14,000 - $68,000 | $10,000 - $60,000 | +17% |
| Virtual Assistant Business | $2,000 - $13,000 | $500 - $3,000 | +329% |
| Waste Management Business | $37,000 - $437,000 | $30,000 - $500,000 | -11% |
| Web Design Business | $5,000 - $32,000 | $3,000 - $25,000 | +32% |
| Wedding Planning Business | $8,000 - $38,000 | $5,000 - $30,000 | +31% |
| Welding Business | $21,000 - $118,000 | $15,000 - $100,000 | +21% |
| Window Cleaning Business | $3,000 - $21,000 | $2,000 - $15,000 | +41% |
| Winery | $79,000 - $968,000 | $100,000 - $1,000,000 | -5% |
| Yoga Studio | $46,000 - $181,000 | $50,000 - $200,000 | -9% |
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Local Market Factors in Santa Fe
112.5%
Cost of Living Index
$16-$38
Commercial Rent ($/sqft/yr)
1.02x
Labor Rate Index
8.4375%
Sales Tax Rate
Local Permit Fees in Santa Fe
| Permit | Cost Range |
|---|---|
| Business License | $50 - $200 |
| Food Service Permit | $200 - $500 |
| Liquor License | $1,200 - $5,500 |
| General Contractor License | $100 - $300 |
| Home Occupation Permit | $25 - $75 |
About Starting a Business in Santa Fe
Santa Fe is the oldest state capital in the U.S. and a world-renowned arts and cultural destination, with Canyon Road housing one of the densest concentrations of art galleries in the nation. The city's tourism-driven economy and affluent visitor base create strong opportunities for dining, galleries, and boutique retail.
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