Beauty Supply Store Startup Cost Comparison
Lorain, OH vs Miami, FL
Lorain, OH
$17,000 - $83,000
COL Index: 84.5
VS
Miami, FL
$35,000 - $170,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Lorain, OH | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$7,300 - $36,500 | $23,500 - $117,400 | -69% |
|
Initial Supplies & Inventory
|
$4,500 - $22,500 | $4,500 - $22,500 | Same |
|
Business Insurance (Annual)
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$3,800 - $12,700 | $5,800 - $19,200 | -34% |
| Total Estimated Cost | $17,000 - $83,000 | $35,000 - $170,000 | -51% |
Local Market Factors
| Factor | Lorain | Miami |
|---|---|---|
| Cost of Living Index | 84.5 | 128.3 |
| Commercial Rent ($/sqft/yr) | $8 - $20 | $25 - $65 |
| Labor Rate Index | 0.78 | 1.08 |
| Sales Tax | 7.75% | 7% |
| Minimum Wage | $10.45/hr | $13.00/hr |
| LLC Filing Fee | $99 | $125 |
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