Electrical Startup Cost Comparison
Worcester, MA vs Chicago, IL
Worcester, MA
$20,000 - $106,000
COL Index: 112.4
VS
Chicago, IL
$22,000 - $100,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Worcester, MA | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Electrical License
|
$3,500 - $16,500 | $5,600 - $10,900 | +21% |
|
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)
|
$3,400 - $16,900 | $3,200 - $16,200 | +5% |
| Total Estimated Cost | $20,000 - $106,000 | $22,000 - $100,000 | +3% |
Local Market Factors
| Factor | Worcester | Chicago |
|---|---|---|
| Cost of Living Index | 112.4 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $28 | $25 - $65 |
| Labor Rate Index | 1.08 | 1.15 |
| Sales Tax | 6.25% | 10.25% |
| Minimum Wage | $15.00/hr | $15.80/hr |
| LLC Filing Fee | $500 | $150 |
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