Fast Food Franchise Startup Cost Comparison
Norfolk, VA vs Miami, FL
Norfolk, VA
$121,000 - $1,806,000
COL Index: 97.6
VS
Miami, FL
$184,000 - $3,214,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Norfolk, VA | Miami, FL | Difference |
|---|---|---|---|
|
Franchise Fee
|
$10,000 - $50,000 | $10,000 - $50,000 | Same |
|
Restaurant Build-Out
|
$41,300 - $991,300 | $97,800 - $2,347,800 | -58% |
|
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
|
$4,800 - $38,400 | $5,400 - $43,200 | -11% |
|
Grand Opening Campaign
|
$5,000 - $25,000 | $5,000 - $25,000 | Same |
|
Working Capital (3 Months)
|
$19,500 - $146,400 | $25,700 - $192,500 | -24% |
| Total Estimated Cost | $121,000 - $1,806,000 | $184,000 - $3,214,000 | -43% |
Local Market Factors
| Factor | Norfolk | Miami |
|---|---|---|
| Cost of Living Index | 97.6 | 128.3 |
| Commercial Rent ($/sqft/yr) | $12 - $26 | $25 - $65 |
| Labor Rate Index | 0.96 | 1.08 |
| Sales Tax | 6% | 7% |
| Minimum Wage | $12.41/hr | $13.00/hr |
| LLC Filing Fee | $100 | $125 |
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