Lavender Farm Startup Cost Comparison
Madison, WI vs Chicago, IL
Madison, WI
$15,000 - $76,000
COL Index: 102.5
VS
Chicago, IL
$23,000 - $115,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Madison, WI | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$8,000 - $40,000 | $15,700 - $78,300 | -49% |
|
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 | $15,000 - $76,000 | $23,000 - $115,000 | -34% |
Local Market Factors
| Factor | Madison | Chicago |
|---|---|---|
| Cost of Living Index | 102.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $32 | $25 - $65 |
| Labor Rate Index | 0.98 | 1.15 |
| Sales Tax | 5.5% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $130 | $150 |
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