Beauty Supply Store Startup Cost Comparison
Richmond, VA vs New York, NY
Richmond, VA
$22,000 - $106,000
COL Index: 100.5
VS
New York, NY
$56,000 - $270,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Richmond, VA | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$11,500 - $57,400 | $41,700 - $208,700 | -72% |
|
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)
|
$4,500 - $15,100 | $8,400 - $28,100 | -46% |
| Total Estimated Cost | $22,000 - $106,000 | $56,000 - $270,000 | -61% |
Local Market Factors
| Factor | Richmond | New York |
|---|---|---|
| Cost of Living Index | 100.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $14 - $30 | $40 - $120 |
| Labor Rate Index | 1 | 1.45 |
| Sales Tax | 6% | 8.875% |
| Minimum Wage | $12.41/hr | $16.00/hr |
| LLC Filing Fee | $100 | $200 |
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