Dance Studio Startup Cost Comparison
Durham, NC vs Chicago, IL
Durham, NC
$28,000 - $133,000
COL Index: 102.8
VS
Chicago, IL
$38,000 - $170,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Durham, NC | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$1,400 - $6,300 | $5,600 - $10,900 | -53% |
|
Studio Lease (First + Last + Security)
|
$5,200 - $31,300 | $9,800 - $58,700 | -47% |
|
Studio Build-Out
|
$8,300 - $36,400 | $9,200 - $40,300 | -10% |
|
Sound System & Equipment
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Dancewear & Merchandise Inventory
|
$1,500 - $6,000 | $1,500 - $6,000 | Same |
|
Business Insurance (Annual)
|
$1,500 - $6,000 | $1,500 - $6,000 | Same |
|
Marketing & Student Recruitment
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Working Capital (3 Months)
|
$6,200 - $28,800 | $6,500 - $30,200 | -5% |
| Total Estimated Cost | $28,000 - $133,000 | $38,000 - $170,000 | -23% |
Local Market Factors
| Factor | Durham | Chicago |
|---|---|---|
| Cost of Living Index | 102.8 | 107.8 |
| Commercial Rent ($/sqft/yr) | $16 - $32 | $25 - $65 |
| Labor Rate Index | 1.04 | 1.15 |
| Sales Tax | 7.5% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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