Bar Startup Cost Comparison
Jersey City, NJ vs Chicago, IL
Jersey City, NJ
$112,000 - $470,000
COL Index: 128.4
VS
Chicago, IL
$100,000 - $409,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Jersey City, NJ | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Liquor License
|
$15,700 - $76,900 | $5,600 - $15,000 | +350% |
|
Commercial Lease (First + Last + Security)
|
$14,100 - $82,200 | $17,600 - $102,700 | -20% |
|
Bar Equipment & Fixtures
|
$15,000 - $60,000 | $15,000 - $60,000 | Same |
|
Initial Liquor & Beverage Inventory
|
$8,000 - $25,000 | $8,000 - $25,000 | Same |
|
Interior Build-Out & Renovation
|
$31,300 - $125,000 | $28,800 - $115,000 | +9% |
|
Sound System & Security
|
$5,000 - $25,000 | $5,000 - $25,000 | Same |
|
Business Insurance (Annual)
|
$4,000 - $12,000 | $4,000 - $12,000 | Same |
|
Working Capital (3 Months)
|
$19,300 - $64,200 | $16,200 - $53,900 | +19% |
| Total Estimated Cost | $112,000 - $470,000 | $100,000 - $409,000 | +14% |
Local Market Factors
| Factor | Jersey City | Chicago |
|---|---|---|
| Cost of Living Index | 128.4 | 107.8 |
| Commercial Rent ($/sqft/yr) | $22 - $50 | $25 - $65 |
| Labor Rate Index | 1.25 | 1.15 |
| Sales Tax | 6.625% | 10.25% |
| Minimum Wage | $15.49/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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