Hair Salon Startup Cost Comparison
Wilmington, DE vs New York, NY
Wilmington, DE
$55,000 - $199,000
COL Index: 102.4
VS
New York, NY
$89,000 - $334,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Wilmington, DE | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$1,900 - $6,300 | $5,300 - $17,100 | -63% |
|
Commercial Lease (First + Last + Security)
|
$5,500 - $27,400 | $20,900 - $104,300 | -74% |
|
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
|
$15,300 - $51,000 | $21,800 - $72,500 | -30% |
|
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)
|
$10,200 - $30,700 | $18,700 - $56,200 | -45% |
| Total Estimated Cost | $55,000 - $199,000 | $89,000 - $334,000 | -40% |
Local Market Factors
| Factor | Wilmington | New York |
|---|---|---|
| Cost of Living Index | 102.4 | 187.2 |
| Commercial Rent ($/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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