Hostel Startup Cost Comparison
Jacksonville, FL vs Chicago, IL
Jacksonville, FL
$38,000 - $218,000
COL Index: 96.2
VS
Chicago, IL
$56,000 - $326,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Jacksonville, FL | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$21,700 - $130,400 | $39,100 - $234,800 | -44% |
|
Initial Supplies & Inventory
|
$7,500 - $45,000 | $7,500 - $45,000 | Same |
|
Business Insurance (Annual)
|
$500 - $6,000 | $500 - $6,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$7,200 - $28,900 | $8,100 - $32,300 | -11% |
| Total Estimated Cost | $38,000 - $218,000 | $56,000 - $326,000 | -33% |
Local Market Factors
| Factor | Jacksonville | Chicago |
|---|---|---|
| Cost of Living Index | 96.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $15 - $35 | $25 - $65 |
| Labor Rate Index | 0.9 | 1.15 |
| Sales Tax | 7.5% | 10.25% |
| Minimum Wage | $13.00/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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