Convenience Store Startup Cost Comparison
Waterloo, IA vs Chicago, IL
Waterloo, IA
$37,000 - $243,000
COL Index: 84.5
VS
Chicago, IL
$59,000 - $393,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Waterloo, IA | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Commercial Space & Build-Out
|
$9,100 - $63,900 | $29,300 - $205,400 | -69% |
|
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)
|
$6,300 - $29,600 | $8,100 - $37,700 | -22% |
| Total Estimated Cost | $37,000 - $243,000 | $59,000 - $393,000 | -38% |
Local Market Factors
| Factor | Waterloo | Chicago |
|---|---|---|
| Cost of Living Index | 84.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $8 - $20 | $25 - $65 |
| Labor Rate Index | 0.78 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $50 | $150 |
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