Electrical Startup Cost Comparison
Hartford, CT vs Chicago, IL
Hartford, CT
$19,000 - $96,000
COL Index: 107.3
VS
Chicago, IL
$22,000 - $100,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Hartford, CT | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Electrical License
|
$2,000 - $6,500 | $5,600 - $10,900 | -48% |
|
Service Vehicle
|
$5,000 - $35,000 | $5,000 - $35,000 | Same |
|
Electrical Tools & Equipment
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Parts & Supplies Inventory
|
$1,000 - $5,000 | $1,000 - $5,000 | Same |
|
Business Insurance & Bonding (Annual)
|
$3,000 - $10,000 | $3,000 - $10,000 | Same |
|
Marketing & Lead Generation
|
$1,500 - $8,000 | $1,500 - $8,000 | Same |
|
Working Capital (3 Months)
|
$3,200 - $16,100 | $3,200 - $16,200 | -1% |
| Total Estimated Cost | $19,000 - $96,000 | $22,000 - $100,000 | -6% |
Local Market Factors
| Factor | Hartford | Chicago |
|---|---|---|
| Cost of Living Index | 107.3 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $30 | $25 - $65 |
| Labor Rate Index | 1.08 | 1.15 |
| Sales Tax | 6.35% | 10.25% |
| Minimum Wage | $16.35/hr | $15.80/hr |
| LLC Filing Fee | $120 | $150 |
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