Ice Cream Shop Startup Cost Comparison
Rochester, MN vs New York, NY
Rochester, MN
$49,000 - $261,000
COL Index: 101.5
VS
New York, NY
$78,000 - $404,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Rochester, MN | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$800 - $4,000 | $5,300 - $17,100 | -79% |
|
Commercial Lease (First + Last + Security)
|
$4,800 - $25,800 | $17,400 - $93,900 | -73% |
|
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
|
$10,000 - $80,000 | $14,500 - $116,000 | -31% |
|
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)
|
$8,100 - $30,500 | $15,000 - $56,200 | -46% |
| Total Estimated Cost | $49,000 - $261,000 | $78,000 - $404,000 | -36% |
Local Market Factors
| Factor | Rochester | New York |
|---|---|---|
| Cost of Living Index | 101.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $14 - $30 | $40 - $120 |
| Labor Rate Index | 1 | 1.45 |
| Sales Tax | 7.375% | 8.875% |
| Minimum Wage | $10.85/hr | $16.00/hr |
| LLC Filing Fee | $155 | $200 |
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