Bike Shop Startup Cost Comparison
Fayetteville, AR vs Chicago, IL
Fayetteville, AR
$20,000 - $126,000
COL Index: 90.5
VS
Chicago, IL
$34,000 - $220,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Fayetteville, AR | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$9,900 - $66,100 | $23,500 - $156,500 | -58% |
|
Initial Supplies & Inventory
|
$4,500 - $30,000 | $4,500 - $30,000 | Same |
|
Business Insurance (Annual)
|
$500 - $4,000 | $500 - $4,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$4,100 - $18,100 | $4,900 - $21,600 | -16% |
| Total Estimated Cost | $20,000 - $126,000 | $34,000 - $220,000 | -43% |
Local Market Factors
| Factor | Fayetteville | Chicago |
|---|---|---|
| Cost of Living Index | 90.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $12 - $26 | $25 - $65 |
| Labor Rate Index | 0.87 | 1.15 |
| Sales Tax | 9.75% | 10.25% |
| Minimum Wage | $11.00/hr | $15.80/hr |
| LLC Filing Fee | $45 | $150 |
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