Financial Advisory Practice Startup Cost Comparison
Sunnyvale, CA vs Chicago, IL
Sunnyvale, CA
$16,000 - $81,000
COL Index: 192.5
VS
Chicago, IL
$12,000 - $63,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Sunnyvale, CA | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$10,600 - $53,000 | $7,800 - $39,100 | +36% |
|
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)
|
$2,900 - $9,600 | $1,600 - $5,400 | +79% |
| Total Estimated Cost | $16,000 - $81,000 | $12,000 - $63,000 | +29% |
Local Market Factors
| Factor | Sunnyvale | Chicago |
|---|---|---|
| Cost of Living Index | 192.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $42 - $80 | $25 - $65 |
| Labor Rate Index | 1.55 | 1.15 |
| Sales Tax | 9.375% | 10.25% |
| Minimum Wage | $18.55/hr | $15.80/hr |
| LLC Filing Fee | $70 | $150 |
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