Financial Advisory Practice Startup Cost Comparison
Oklahoma City, OK vs Chicago, IL
Oklahoma City, OK
$8,000 - $40,000
COL Index: 89.5
VS
Chicago, IL
$12,000 - $63,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Oklahoma City, OK | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$3,500 - $17,400 | $7,800 - $39,100 | -55% |
|
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)
|
$1,300 - $4,500 | $1,600 - $5,400 | -17% |
| Total Estimated Cost | $8,000 - $40,000 | $12,000 - $63,000 | -36% |
Local Market Factors
| Factor | Oklahoma City | Chicago |
|---|---|---|
| Cost of Living Index | 89.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $12 - $28 | $25 - $65 |
| Labor Rate Index | 0.85 | 1.15 |
| Sales Tax | 8.625% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $100 | $150 |
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