Gift Shop Startup Cost Comparison
Wilmington, DE vs New York, NY
Wilmington, DE
$30,000 - $141,000
COL Index: 102.4
VS
New York, NY
$50,000 - $253,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Wilmington, DE | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Permits
|
$1,900 - $6,300 | $5,300 - $17,100 | -63% |
|
Commercial Lease (First + Last + Security)
|
$3,300 - $24,700 | $12,500 - $93,900 | -74% |
|
Initial Inventory
|
$10,000 - $40,000 | $10,000 - $40,000 | Same |
|
Store Build-Out & Display
|
$5,100 - $30,600 | $7,300 - $43,500 | -30% |
|
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)
|
$6,100 - $22,500 | $11,200 - $41,200 | -45% |
| Total Estimated Cost | $30,000 - $141,000 | $50,000 - $253,000 | -44% |
Local Market Factors
| Factor | Wilmington | New York |
|---|---|---|
| Cost of Living Index | 102.4 | 187.2 |
| Commercial Rent ($/sqft/yr) | $14 - $28 | $40 - $120 |
| Labor Rate Index | 1.02 | 1.45 |
| Sales Tax | 0% | 8.875% |
| Minimum Wage | $13.25/hr | $16.00/hr |
| LLC Filing Fee | $90 | $200 |
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