Bike Shop Startup Cost Comparison
Orem, UT vs Chicago, IL
Orem, UT
$21,000 - $136,000
COL Index: 104.8
VS
Chicago, IL
$34,000 - $220,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Orem, UT | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$11,000 - $73,000 | $23,500 - $156,500 | -53% |
|
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)
|
$4,700 - $21,000 | $4,900 - $21,600 | -3% |
| Total Estimated Cost | $21,000 - $136,000 | $34,000 - $220,000 | -38% |
Local Market Factors
| Factor | Orem | Chicago |
|---|---|---|
| Cost of Living Index | 104.8 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $28 | $25 - $65 |
| Labor Rate Index | 0.98 | 1.15 |
| Sales Tax | 7.25% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $54 | $150 |
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