Dental Practice Startup Cost Comparison
Paterson, NJ vs New York, NY
Paterson, NJ
$310,000 - $777,000
COL Index: 104.6
VS
New York, NY
$406,000 - $1,041,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Paterson, NJ | New York, NY | Difference |
|---|---|---|---|
|
Business Formation & Dental Licensing
|
$8,400 - $36,200 | $5,300 - $17,100 | +99% |
|
Commercial Lease (First + Last + Security)
|
$9,900 - $37,200 | $41,700 - $156,500 | -76% |
|
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 | $87,000 - $217,500 | -30% |
|
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)
|
$52,300 - $125,500 | $93,600 - $224,600 | -44% |
| Total Estimated Cost | $310,000 - $777,000 | $406,000 - $1,041,000 | -25% |
Local Market Factors
| Factor | Paterson | New York |
|---|---|---|
| Cost of Living Index | 104.6 | 187.2 |
| Commercial Rent ($/sqft/yr) | $12 - $26 | $40 - $120 |
| Labor Rate Index | 1.02 | 1.45 |
| Sales Tax | 6.625% | 8.875% |
| Minimum Wage | $15.49/hr | $16.00/hr |
| LLC Filing Fee | $125 | $200 |
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