Lavender Farm Startup Cost Comparison
Durham, NC vs Chicago, IL
Durham, NC
$16,000 - $78,000
COL Index: 102.8
VS
Chicago, IL
$23,000 - $115,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Durham, NC | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$8,300 - $41,700 | $15,700 - $78,300 | -47% |
|
Initial Supplies & Inventory
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Business Insurance (Annual)
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$3,100 - $10,300 | $3,200 - $10,800 | -4% |
| Total Estimated Cost | $16,000 - $78,000 | $23,000 - $115,000 | -32% |
Local Market Factors
| Factor | Durham | Chicago |
|---|---|---|
| Cost of Living Index | 102.8 | 107.8 |
| Commercial Rent ($/sqft/yr) | $16 - $32 | $25 - $65 |
| Labor Rate Index | 1.04 | 1.15 |
| Sales Tax | 7.5% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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