Consulting Business Startup Cost Comparison
Chicago, IL vs Miami, FL
Chicago, IL
$14,000 - $72,000
COL Index: 107.8
VS
Miami, FL
$12,000 - $74,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Chicago, IL | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Formation
|
$5,600 - $10,900 | $2,600 - $9,500 | +36% |
|
Professional Licenses & Certifications
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Home Office Setup
|
$1,000 - $5,000 | $1,000 - $5,000 | Same |
|
Technology & Software
|
$1,500 - $6,000 | $1,500 - $6,000 | Same |
|
Website & Branding
|
$500 - $8,000 | $500 - $8,000 | Same |
|
Professional Liability Insurance
|
$800 - $5,000 | $800 - $5,000 | Same |
|
Marketing & Client Acquisition
|
$1,000 - $10,000 | $1,000 - $10,000 | Same |
|
Working Capital (3-6 months)
|
$3,200 - $21,600 | $3,800 - $25,700 | -16% |
| Total Estimated Cost | $14,000 - $72,000 | $12,000 - $74,000 | Same |
Local Market Factors
| Factor | Chicago | Miami |
|---|---|---|
| Cost of Living Index | 107.8 | 128.3 |
| Commercial Rent ($/sqft/yr) | $25 - $65 | $25 - $65 |
| Labor Rate Index | 1.15 | 1.08 |
| Sales Tax | 10.25% | 7% |
| Minimum Wage | $15.80/hr | $13.00/hr |
| LLC Filing Fee | $150 | $125 |
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