Gas Station Startup Cost Comparison
Carmel, IN vs Chicago, IL
Carmel, IN
$209,000 - $1,605,000
COL Index: 106.5
VS
Chicago, IL
$275,000 - $2,129,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Carmel, IN | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$130,400 - $1,043,500 | $195,700 - $1,565,200 | -33% |
|
Initial Supplies & Inventory
|
$37,500 - $300,000 | $37,500 - $300,000 | Same |
|
Business Insurance (Annual)
|
$500 - $40,000 | $500 - $40,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$39,900 - $213,000 | $40,400 - $215,600 | -1% |
| Total Estimated Cost | $209,000 - $1,605,000 | $275,000 - $2,129,000 | -25% |
Local Market Factors
| Factor | Carmel | Chicago |
|---|---|---|
| Cost of Living Index | 106.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $18 - $42 | $25 - $65 |
| Labor Rate Index | 1.02 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $95 | $150 |
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