Bar Startup Cost Comparison
Sioux Falls, SD vs New York, NY
Sioux Falls, SD
$77,000 - $314,000
COL Index: 92.5
VS
New York, NY
$133,000 - $560,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Sioux Falls, SD | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Liquor License
|
$2,000 - $15,000 | $5,300 - $17,100 | -24% |
|
Commercial Lease (First + Last + Security)
|
$7,000 - $41,100 | $31,300 - $182,600 | -78% |
|
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
|
$22,500 - $90,000 | $36,300 - $145,000 | -38% |
|
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)
|
$13,900 - $46,300 | $28,100 - $93,600 | -51% |
| Total Estimated Cost | $77,000 - $314,000 | $133,000 - $560,000 | -44% |
Local Market Factors
| Factor | Sioux Falls | New York |
|---|---|---|
| Cost of Living Index | 92.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $12 - $24 | $40 - $120 |
| Labor Rate Index | 0.9 | 1.45 |
| Sales Tax | 6.5% | 8.875% |
| Minimum Wage | $11.20/hr | $16.00/hr |
| LLC Filing Fee | $150 | $200 |
View Full Details
Ready to Start Your Bar?
Start your Bar LLC in — free registered agent for 1 year.
Form Your LLC for $0 + State Fee →Trusted by 500,000+ businesses · Excellent rating on Trustpilot