Barbershop Startup Cost Comparison
Peoria, IL vs New York, NY
Peoria, IL
$34,000 - $124,000
COL Index: 85
VS
New York, NY
$66,000 - $250,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Peoria, IL | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$700 - $3,300 | $5,300 - $17,100 | -82% |
|
Commercial Lease (First + Last + Security)
|
$2,500 - $12,700 | $15,700 - $78,300 | -84% |
|
Barber Chairs & Stations
|
$10,000 - $40,000 | $10,000 - $40,000 | Same |
|
Initial Product Inventory
|
$1,500 - $5,000 | $1,500 - $5,000 | Same |
|
Interior Build-Out & Design
|
$8,500 - $29,800 | $14,500 - $50,800 | -41% |
|
Business Insurance (Annual)
|
$1,500 - $5,000 | $1,500 - $5,000 | Same |
|
Marketing & Launch
|
$2,000 - $7,000 | $2,000 - $7,000 | Same |
|
Working Capital (3 Months)
|
$6,800 - $21,300 | $15,000 - $46,800 | -55% |
| Total Estimated Cost | $34,000 - $124,000 | $66,000 - $250,000 | -50% |
Local Market Factors
| Factor | Peoria | New York |
|---|---|---|
| Cost of Living Index | 85 | 187.2 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $40 - $120 |
| Labor Rate Index | 0.85 | 1.45 |
| Sales Tax | 9.5% | 8.875% |
| Minimum Wage | $14.00/hr | $16.00/hr |
| LLC Filing Fee | $150 | $200 |
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