Jewelry Store Startup Cost Comparison
Syracuse, NY vs Miami, FL
Syracuse, NY
$27,000 - $129,000
COL Index: 86.2
VS
Miami, FL
$57,000 - $278,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Syracuse, NY | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$11,300 - $56,500 | $39,100 - $195,700 | -71% |
|
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)
|
$6,500 - $21,600 | $9,600 - $32,100 | -33% |
| Total Estimated Cost | $27,000 - $129,000 | $57,000 - $278,000 | -53% |
Local Market Factors
| Factor | Syracuse | Miami |
|---|---|---|
| Cost of Living Index | 86.2 | 128.3 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $25 - $65 |
| Labor Rate Index | 0.88 | 1.08 |
| Sales Tax | 8% | 7% |
| Minimum Wage | $15.00/hr | $13.00/hr |
| LLC Filing Fee | $200 | $125 |
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