Bar Startup Cost Comparison
Providence, RI vs New York, NY
Providence, RI
$85,000 - $348,000
COL Index: 106.3
VS
New York, NY
$133,000 - $560,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Providence, RI | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Liquor License
|
$2,000 - $15,000 | $5,300 - $17,100 | -24% |
|
Commercial Lease (First + Last + Security)
|
$9,000 - $52,500 | $31,300 - $182,600 | -71% |
|
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
|
$26,300 - $105,000 | $36,300 - $145,000 | -28% |
|
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)
|
$15,900 - $53,200 | $28,100 - $93,600 | -43% |
| Total Estimated Cost | $85,000 - $348,000 | $133,000 - $560,000 | -38% |
Local Market Factors
| Factor | Providence | New York |
|---|---|---|
| Cost of Living Index | 106.3 | 187.2 |
| Commercial Rent ($/sqft/yr) | $14 - $32 | $40 - $120 |
| Labor Rate Index | 1.05 | 1.45 |
| Sales Tax | 7% | 8.875% |
| Minimum Wage | $15.00/hr | $16.00/hr |
| LLC Filing Fee | $150 | $200 |
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