Insurance Agency Startup Cost Comparison
Columbus, OH vs Los Angeles, CA
Columbus, OH
$21,000 - $85,000
COL Index: 96.8
VS
Los Angeles, CA
$32,000 - $135,000
COL Index: 166.5
Detailed Cost Comparison
| Expense | Columbus, OH | Los Angeles, CA | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$2,400 - $7,100 | $4,000 - $14,400 | -48% |
|
Insurance Producer Licenses
|
$1,000 - $4,000 | $1,000 - $4,000 | Same |
|
Office Lease (First + Last + Security)
|
$3,200 - $16,000 | $7,500 - $37,500 | -57% |
|
Technology & Equipment
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Carrier Appointments & Bonds
|
$1,000 - $5,000 | $1,000 - $5,000 | Same |
|
E&O and Business Insurance (Annual)
|
$1,500 - $6,000 | $1,500 - $6,000 | Same |
|
Marketing & Lead Generation
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Working Capital (3-6 Months)
|
$7,700 - $29,000 | $13,300 - $50,000 | -42% |
| Total Estimated Cost | $21,000 - $85,000 | $32,000 - $135,000 | -37% |
Local Market Factors
| Factor | Columbus | Los Angeles |
|---|---|---|
| Cost of Living Index | 96.8 | 166.5 |
| Commercial Rent ($/sqft/yr) | $14 - $35 | $30 - $85 |
| Labor Rate Index | 0.95 | 1.35 |
| Sales Tax | 7.5% | 9.5% |
| Minimum Wage | $10.45/hr | $16.78/hr |
| LLC Filing Fee | $99 | $70 |
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