Fast Food Franchise Startup Cost Comparison
Newark, NJ vs Miami, FL
Newark, NJ
$142,000 - $2,257,000
COL Index: 115.2
VS
Miami, FL
$184,000 - $3,214,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Newark, NJ | Miami, FL | Difference |
|---|---|---|---|
|
Franchise Fee
|
$10,000 - $50,000 | $10,000 - $50,000 | Same |
|
Restaurant Build-Out
|
$58,700 - $1,408,700 | $97,800 - $2,347,800 | -40% |
|
Kitchen Equipment & Technology
|
$30,000 - $500,000 | $30,000 - $500,000 | Same |
|
Insurance Package
|
$5,000 - $25,000 | $5,000 - $25,000 | Same |
|
Opening Inventory & Supplies
|
$5,000 - $30,000 | $5,000 - $30,000 | Same |
|
Hiring & Training
|
$5,700 - $45,600 | $5,400 - $43,200 | +6% |
|
Grand Opening Campaign
|
$5,000 - $25,000 | $5,000 - $25,000 | Same |
|
Working Capital (3 Months)
|
$23,000 - $172,800 | $25,700 - $192,500 | -10% |
| Total Estimated Cost | $142,000 - $2,257,000 | $184,000 - $3,214,000 | -29% |
Local Market Factors
| Factor | Newark | Miami |
|---|---|---|
| Cost of Living Index | 115.2 | 128.3 |
| Commercial Rent ($/sqft/yr) | $16 - $38 | $25 - $65 |
| Labor Rate Index | 1.14 | 1.08 |
| Sales Tax | 6.625% | 7% |
| Minimum Wage | $15.49/hr | $13.00/hr |
| LLC Filing Fee | $125 | $125 |
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