Bookkeeping Service Startup Cost Comparison
Washington, DC vs Chicago, IL
Washington, DC
$3,000 - $18,000
COL Index: 148.7
VS
Chicago, IL
$3,000 - $18,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Washington, DC | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$800 - $4,000 | $800 - $4,000 | Same |
|
Initial Supplies & Inventory
|
$300 - $1,500 | $300 - $1,500 | Same |
|
Business Insurance (Annual)
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$400 - $1,500 | $300 - $1,100 | +36% |
| Total Estimated Cost | $3,000 - $18,000 | $3,000 - $18,000 | Same |
Local Market Factors
| Factor | Washington | Chicago |
|---|---|---|
| Cost of Living Index | 148.7 | 107.8 |
| Commercial Rent ($/sqft/yr) | $30 - $80 | $25 - $65 |
| Labor Rate Index | 1.42 | 1.15 |
| Sales Tax | 6% | 10.25% |
| Minimum Wage | $17.50/hr | $15.80/hr |
| LLC Filing Fee | $99 | $150 |
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