Hair Salon Startup Cost Comparison
Peoria, IL vs Miami, FL
Peoria, IL
$47,000 - $172,000
COL Index: 85
VS
Miami, FL
$65,000 - $245,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Peoria, IL | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$700 - $3,300 | $2,600 - $9,500 | -67% |
|
Commercial Lease (First + Last + Security)
|
$3,400 - $17,000 | $11,700 - $58,700 | -71% |
|
Salon Equipment & Stations
|
$15,000 - $60,000 | $15,000 - $60,000 | Same |
|
Initial Product Inventory
|
$3,000 - $10,000 | $3,000 - $10,000 | Same |
|
Interior Build-Out & Design
|
$12,800 - $42,500 | $16,200 - $54,000 | -21% |
|
Business Insurance (Annual)
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Marketing & Launch
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Working Capital (3 Months)
|
$8,500 - $25,500 | $12,800 - $38,500 | -34% |
| Total Estimated Cost | $47,000 - $172,000 | $65,000 - $245,000 | -29% |
Local Market Factors
| Factor | Peoria | Miami |
|---|---|---|
| Cost of Living Index | 85 | 128.3 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $25 - $65 |
| Labor Rate Index | 0.85 | 1.08 |
| Sales Tax | 9.5% | 7% |
| Minimum Wage | $14.00/hr | $13.00/hr |
| LLC Filing Fee | $150 | $125 |
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