Dental Practice Startup Cost Comparison
Albany, NY vs Miami, FL
Albany, NY
$293,000 - $722,000
COL Index: 93.6
VS
Miami, FL
$334,000 - $841,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Albany, NY | Miami, FL | Difference |
|---|---|---|---|
|
Business Formation & Dental Licensing
|
$3,000 - $12,000 | $3,000 - $12,000 | Same |
|
Commercial Lease (First + Last + Security)
|
$8,300 - $31,300 | $23,500 - $88,000 | -64% |
|
Dental Equipment & Technology
|
$150,000 - $350,000 | $150,000 - $350,000 | Same |
|
Dental Supplies & Materials
|
$10,000 - $30,000 | $10,000 - $30,000 | Same |
|
Dental Office Build-Out
|
$56,400 - $141,000 | $64,800 - $162,000 | -13% |
|
Malpractice & Business Insurance (Annual)
|
$8,000 - $20,000 | $8,000 - $20,000 | Same |
|
Marketing & Patient Acquisition
|
$10,000 - $25,000 | $10,000 - $25,000 | Same |
|
Working Capital (3-6 Months)
|
$46,800 - $112,300 | $64,200 - $154,000 | -27% |
| Total Estimated Cost | $293,000 - $722,000 | $334,000 - $841,000 | -14% |
Local Market Factors
| Factor | Albany | Miami |
|---|---|---|
| Cost of Living Index | 93.6 | 128.3 |
| Commercial Rent ($/sqft/yr) | $10 - $22 | $25 - $65 |
| Labor Rate Index | 0.94 | 1.08 |
| Sales Tax | 8% | 7% |
| Minimum Wage | $15.00/hr | $13.00/hr |
| LLC Filing Fee | $200 | $125 |
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