Candy Shop Startup Cost Comparison
Minneapolis, MN vs New York, NY
Minneapolis, MN
$23,000 - $114,000
COL Index: 109.5
VS
New York, NY
$38,000 - $185,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Minneapolis, MN | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Commercial Space & Build-Out
|
$8,200 - $41,100 | $20,900 - $104,300 | -61% |
|
Equipment & Fixtures
|
$5,000 - $25,000 | $5,000 - $25,000 | Same |
|
Initial Inventory & Supplies
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Business Insurance (Annual)
|
$2,000 - $12,000 | $2,000 - $12,000 | Same |
|
Marketing & Grand Opening
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Working Capital (3 Months)
|
$3,300 - $11,000 | $5,600 - $18,700 | -41% |
| Total Estimated Cost | $23,000 - $114,000 | $38,000 - $185,000 | -39% |
Local Market Factors
| Factor | Minneapolis | New York |
|---|---|---|
| Cost of Living Index | 109.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $18 - $45 | $40 - $120 |
| Labor Rate Index | 1.08 | 1.45 |
| Sales Tax | 8.025% | 8.875% |
| Minimum Wage | $15.57/hr | $16.00/hr |
| LLC Filing Fee | $155 | $200 |
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