Barbershop Startup Cost Comparison
Portland, ME vs Chicago, IL
Portland, ME
$41,000 - $151,000
COL Index: 114.2
VS
Chicago, IL
$50,000 - $179,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Portland, ME | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$1,400 - $5,200 | $5,600 - $10,900 | -60% |
|
Commercial Lease (First + Last + Security)
|
$4,700 - $23,500 | $8,800 - $44,000 | -47% |
|
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
|
$10,400 - $36,400 | $11,500 - $40,300 | -10% |
|
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)
|
$9,100 - $28,600 | $8,600 - $27,000 | +6% |
| Total Estimated Cost | $41,000 - $151,000 | $50,000 - $179,000 | -16% |
Local Market Factors
| Factor | Portland | Chicago |
|---|---|---|
| Cost of Living Index | 114.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $16 - $32 | $25 - $65 |
| Labor Rate Index | 1.04 | 1.15 |
| Sales Tax | 5.5% | 10.25% |
| Minimum Wage | $14.15/hr | $15.80/hr |
| LLC Filing Fee | $175 | $150 |
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