Dental Practice Startup Cost Comparison
Honolulu, HI vs Chicago, IL
Honolulu, HI
$383,000 - $966,000
COL Index: 192.5
VS
Chicago, IL
$330,000 - $827,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Honolulu, HI | Chicago, IL | Difference |
|---|---|---|---|
|
Business Formation & Dental Licensing
|
$3,000 - $12,000 | $5,600 - $12,000 | -15% |
|
Commercial Lease (First + Last + Security)
|
$27,400 - $102,700 | $23,500 - $88,000 | +17% |
|
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
|
$78,000 - $195,000 | $69,000 - $172,500 | +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)
|
$96,300 - $231,000 | $53,900 - $129,400 | +79% |
| Total Estimated Cost | $383,000 - $966,000 | $330,000 - $827,000 | +17% |
Local Market Factors
| Factor | Honolulu | Chicago |
|---|---|---|
| Cost of Living Index | 192.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $30 - $75 | $25 - $65 |
| Labor Rate Index | 1.3 | 1.15 |
| Sales Tax | 4.5% | 10.25% |
| Minimum Wage | $14.00/hr | $15.80/hr |
| LLC Filing Fee | $50 | $150 |
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