Ice Cream Shop Startup Cost Comparison
Gary, IN vs New York, NY
Gary, IN
$43,000 - $223,000
COL Index: 81.5
VS
New York, NY
$78,000 - $404,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Gary, IN | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$700 - $2,600 | $5,300 - $17,100 | -85% |
|
Commercial Lease (First + Last + Security)
|
$2,700 - $14,700 | $17,400 - $93,900 | -84% |
|
Ice Cream Equipment & Fixtures
|
$20,000 - $100,000 | $20,000 - $100,000 | Same |
|
Initial Ingredients & Supplies
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Interior Build-Out & Design
|
$7,500 - $60,000 | $14,500 - $116,000 | -48% |
|
Business Insurance (Annual)
|
$1,500 - $5,000 | $1,500 - $5,000 | Same |
|
Marketing & Grand Opening
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Working Capital (3 Months)
|
$6,500 - $24,500 | $15,000 - $56,200 | -56% |
| Total Estimated Cost | $43,000 - $223,000 | $78,000 - $404,000 | -45% |
Local Market Factors
| Factor | Gary | New York |
|---|---|---|
| Cost of Living Index | 81.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $7 - $18 | $40 - $120 |
| Labor Rate Index | 0.75 | 1.45 |
| Sales Tax | 7% | 8.875% |
| Minimum Wage | $7.25/hr | $16.00/hr |
| LLC Filing Fee | $95 | $200 |
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