Convenience Store Startup Cost Comparison
Sioux Falls, SD vs New York, NY
Sioux Falls, SD
$41,000 - $264,000
COL Index: 92.5
VS
New York, NY
$88,000 - $580,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Sioux Falls, SD | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Commercial Space & Build-Out
|
$11,700 - $82,200 | $52,200 - $365,200 | -78% |
|
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)
|
$6,900 - $32,400 | $14,000 - $65,500 | -51% |
| Total Estimated Cost | $41,000 - $264,000 | $88,000 - $580,000 | -54% |
Local Market Factors
| Factor | Sioux Falls | New York |
|---|---|---|
| Cost of Living Index | 92.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $12 - $24 | $40 - $120 |
| Labor Rate Index | 0.9 | 1.45 |
| Sales Tax | 6.5% | 8.875% |
| Minimum Wage | $11.20/hr | $16.00/hr |
| LLC Filing Fee | $150 | $200 |
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