Liquor Store Startup Cost Comparison
Gary, IN vs New York, NY
Gary, IN
$68,000 - $265,000
COL Index: 81.5
VS
New York, NY
$172,000 - $659,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Gary, IN | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Commercial Space & Build-Out
|
$16,300 - $65,200 | $104,300 - $417,400 | -84% |
|
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)
|
$12,200 - $32,600 | $28,100 - $74,900 | -57% |
| Total Estimated Cost | $68,000 - $265,000 | $172,000 - $659,000 | -60% |
Local Market Factors
| Factor | Gary | New York |
|---|---|---|
| Cost of Living Index | 81.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $7 - $18 | $40 - $120 |
| Labor Rate Index | 0.75 | 1.45 |
| Sales Tax | 7% | 8.875% |
| Minimum Wage | $7.25/hr | $16.00/hr |
| LLC Filing Fee | $95 | $200 |
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