Financial Advisory Practice Startup Cost Comparison
Gary, IN vs Los Angeles, CA
Gary, IN
$6,000 - $34,000
COL Index: 81.5
VS
Los Angeles, CA
$15,000 - $77,000
COL Index: 166.5
Detailed Cost Comparison
| Expense | Gary, IN | Los Angeles, CA | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$2,200 - $10,900 | $10,000 - $50,000 | -78% |
|
Initial Supplies & Inventory
|
$1,500 - $7,500 | $1,500 - $7,500 | Same |
|
Business Insurance (Annual)
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$1,200 - $4,100 | $2,500 - $8,300 | -51% |
| Total Estimated Cost | $6,000 - $34,000 | $15,000 - $77,000 | -57% |
Local Market Factors
| Factor | Gary | Los Angeles |
|---|---|---|
| Cost of Living Index | 81.5 | 166.5 |
| Commercial Rent ($/sqft/yr) | $7 - $18 | $30 - $85 |
| Labor Rate Index | 0.75 | 1.35 |
| Sales Tax | 7% | 9.5% |
| Minimum Wage | $7.25/hr | $16.78/hr |
| LLC Filing Fee | $95 | $70 |
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