Jewelry Store Startup Cost Comparison
Sterling Heights, MI vs Miami, FL
Sterling Heights, MI
$33,000 - $161,000
COL Index: 93.2
VS
Miami, FL
$57,000 - $278,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Sterling Heights, MI | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$17,400 - $87,000 | $39,100 - $195,700 | -56% |
|
Initial Supplies & Inventory
|
$7,500 - $37,500 | $7,500 - $37,500 | Same |
|
Business Insurance (Annual)
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$7,000 - $23,300 | $9,600 - $32,100 | -27% |
| Total Estimated Cost | $33,000 - $161,000 | $57,000 - $278,000 | -42% |
Local Market Factors
| Factor | Sterling Heights | Miami |
|---|---|---|
| Cost of Living Index | 93.2 | 128.3 |
| Commercial Rent ($/sqft/yr) | $12 - $28 | $25 - $65 |
| Labor Rate Index | 0.88 | 1.08 |
| Sales Tax | 6% | 7% |
| Minimum Wage | $10.33/hr | $13.00/hr |
| LLC Filing Fee | $50 | $125 |
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