Liquor Store Startup Cost Comparison
Carmel, IN vs Chicago, IL
Carmel, IN
$95,000 - $366,000
COL Index: 106.5
VS
Chicago, IL
$114,000 - $445,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Carmel, IN | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Commercial Space & Build-Out
|
$39,100 - $156,500 | $58,700 - $234,800 | -33% |
|
Equipment & Fixtures
|
$25,000 - $100,000 | $25,000 - $100,000 | Same |
|
Initial Inventory & Supplies
|
$10,000 - $40,000 | $10,000 - $40,000 | Same |
|
Business Insurance (Annual)
|
$2,000 - $12,000 | $2,000 - $12,000 | Same |
|
Marketing & Grand Opening
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Working Capital (3 Months)
|
$16,000 - $42,600 | $16,200 - $43,100 | -1% |
| Total Estimated Cost | $95,000 - $366,000 | $114,000 - $445,000 | -18% |
Local Market Factors
| Factor | Carmel | Chicago |
|---|---|---|
| Cost of Living Index | 106.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $18 - $42 | $25 - $65 |
| Labor Rate Index | 1.02 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $95 | $150 |
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