Convenience Store Startup Cost Comparison
Chicago, IL vs Miami, FL
Chicago, IL
$59,000 - $393,000
COL Index: 107.8
VS
Miami, FL
$61,000 - $400,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Chicago, IL | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Commercial Space & Build-Out
|
$29,300 - $205,400 | $29,300 - $205,400 | Same |
|
Equipment & Fixtures
|
$12,500 - $87,500 | $12,500 - $87,500 | Same |
|
Initial Inventory & Supplies
|
$5,000 - $35,000 | $5,000 - $35,000 | 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)
|
$8,100 - $37,700 | $9,600 - $44,900 | -16% |
| Total Estimated Cost | $59,000 - $393,000 | $61,000 - $400,000 | -2% |
Local Market Factors
| Factor | Chicago | Miami |
|---|---|---|
| Cost of Living Index | 107.8 | 128.3 |
| Commercial Rent ($/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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