Dental Practice Startup Cost Comparison
Minneapolis, MN vs New York, NY
Minneapolis, MN
$317,000 - $792,000
COL Index: 109.5
VS
New York, NY
$406,000 - $1,041,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Minneapolis, MN | New York, NY | Difference |
|---|---|---|---|
|
Business Formation & Dental Licensing
|
$3,000 - $12,000 | $5,300 - $17,100 | -33% |
|
Commercial Lease (First + Last + Security)
|
$16,400 - $61,600 | $41,700 - $156,500 | -61% |
|
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
|
$64,800 - $162,000 | $87,000 - $217,500 | -26% |
|
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)
|
$54,800 - $131,400 | $93,600 - $224,600 | -41% |
| Total Estimated Cost | $317,000 - $792,000 | $406,000 - $1,041,000 | -23% |
Local Market Factors
| Factor | Minneapolis | New York |
|---|---|---|
| Cost of Living Index | 109.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $18 - $45 | $40 - $120 |
| Labor Rate Index | 1.08 | 1.45 |
| Sales Tax | 8.025% | 8.875% |
| Minimum Wage | $15.57/hr | $16.00/hr |
| LLC Filing Fee | $155 | $200 |
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