Consulting Business Startup Cost Comparison
Peoria, IL vs Miami, FL
Peoria, IL
$9,000 - $59,000
COL Index: 85
VS
Miami, FL
$12,000 - $74,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Peoria, IL | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Formation
|
$700 - $3,300 | $2,600 - $9,500 | -67% |
|
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)
|
$2,600 - $17,000 | $3,800 - $25,700 | -34% |
| Total Estimated Cost | $9,000 - $59,000 | $12,000 - $74,000 | -21% |
Local Market Factors
| Factor | Peoria | Miami |
|---|---|---|
| Cost of Living Index | 85 | 128.3 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $25 - $65 |
| Labor Rate Index | 0.85 | 1.08 |
| Sales Tax | 9.5% | 7% |
| Minimum Wage | $14.00/hr | $13.00/hr |
| LLC Filing Fee | $150 | $125 |
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