Fitness Studio Startup Cost Comparison
Providence, RI vs Chicago, IL
Providence, RI
$37,000 - $211,000
COL Index: 106.3
VS
Chicago, IL
$56,000 - $326,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Providence, RI | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$20,000 - $120,000 | $39,100 - $234,800 | -49% |
|
Initial Supplies & Inventory
|
$7,500 - $45,000 | $7,500 - $45,000 | Same |
|
Business Insurance (Annual)
|
$500 - $6,000 | $500 - $6,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$8,000 - $31,900 | $8,100 - $32,300 | -1% |
| Total Estimated Cost | $37,000 - $211,000 | $56,000 - $326,000 | -35% |
Local Market Factors
| Factor | Providence | Chicago |
|---|---|---|
| Cost of Living Index | 106.3 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $32 | $25 - $65 |
| Labor Rate Index | 1.05 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $15.00/hr | $15.80/hr |
| LLC Filing Fee | $150 | $150 |
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