Gift Shop Startup Cost Comparison
Honolulu, HI vs Miami, FL
Honolulu, HI
$43,000 - $210,000
COL Index: 192.5
VS
Miami, FL
$36,000 - $180,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Honolulu, HI | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Permits
|
$2,600 - $9,700 | $2,600 - $9,500 | +2% |
|
Commercial Lease (First + Last + Security)
|
$8,200 - $61,600 | $7,000 - $52,800 | +17% |
|
Initial Inventory
|
$10,000 - $40,000 | $10,000 - $40,000 | Same |
|
Store Build-Out & Display
|
$6,500 - $39,000 | $5,400 - $32,400 | +20% |
|
POS System & E-Commerce
|
$1,000 - $5,000 | $1,000 - $5,000 | Same |
|
Business Insurance (Annual)
|
$1,200 - $4,000 | $1,200 - $4,000 | Same |
|
Marketing & Seasonal Promotion
|
$1,500 - $8,000 | $1,500 - $8,000 | Same |
|
Working Capital (3 Months)
|
$11,600 - $42,400 | $7,700 - $28,200 | +50% |
| Total Estimated Cost | $43,000 - $210,000 | $36,000 - $180,000 | +17% |
Local Market Factors
| Factor | Honolulu | Miami |
|---|---|---|
| Cost of Living Index | 192.5 | 128.3 |
| Commercial Rent ($/sqft/yr) | $30 - $75 | $25 - $65 |
| Labor Rate Index | 1.3 | 1.08 |
| Sales Tax | 4.5% | 7% |
| Minimum Wage | $14.00/hr | $13.00/hr |
| LLC Filing Fee | $50 | $125 |
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