Law Firm Startup Cost Comparison
West Palm Beach, FL vs Chicago, IL
West Palm Beach, FL
$45,000 - $210,000
COL Index: 110.2
VS
Chicago, IL
$52,000 - $237,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | West Palm Beach, FL | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Bar Requirements
|
$2,400 - $8,300 | $5,600 - $10,900 | -35% |
|
Bar Admission & Licensing
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Office Lease (First + Last + Security)
|
$8,100 - $48,500 | $11,700 - $70,400 | -31% |
|
Office Build-Out & Furnishing
|
$5,300 - $31,500 | $5,800 - $34,500 | -9% |
|
Technology & Equipment
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Professional Liability Insurance (Annual)
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Marketing & Client Development
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Working Capital (3-6 Months)
|
$16,500 - $66,100 | $16,200 - $64,700 | +2% |
| Total Estimated Cost | $45,000 - $210,000 | $52,000 - $237,000 | -12% |
Local Market Factors
| Factor | West Palm Beach | Chicago |
|---|---|---|
| Cost of Living Index | 110.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $20 - $42 | $25 - $65 |
| Labor Rate Index | 1.05 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $13.00/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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