Dental Practice Startup Cost Comparison
Carmel, IN vs Chicago, IL
Carmel, IN
$311,000 - $777,000
COL Index: 106.5
VS
Chicago, IL
$330,000 - $827,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Carmel, IN | Chicago, IL | Difference |
|---|---|---|---|
|
Business Formation & Dental Licensing
|
$3,000 - $12,000 | $5,600 - $12,000 | -15% |
|
Commercial Lease (First + Last + Security)
|
$15,700 - $58,700 | $23,500 - $88,000 | -33% |
|
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
|
$61,200 - $153,000 | $69,000 - $172,500 | -11% |
|
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)
|
$53,300 - $127,800 | $53,900 - $129,400 | -1% |
| Total Estimated Cost | $311,000 - $777,000 | $330,000 - $827,000 | -6% |
Local Market Factors
| Factor | Carmel | Chicago |
|---|---|---|
| Cost of Living Index | 106.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $18 - $42 | $25 - $65 |
| Labor Rate Index | 1.02 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $95 | $150 |
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