Liquor Store Startup Cost Comparison
St. Paul, MN vs New York, NY
St. Paul, MN
$87,000 - $334,000
COL Index: 104.5
VS
New York, NY
$172,000 - $659,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | St. Paul, MN | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Commercial Space & Build-Out
|
$31,300 - $125,200 | $104,300 - $417,400 | -70% |
|
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)
|
$15,700 - $41,800 | $28,100 - $74,900 | -44% |
| Total Estimated Cost | $87,000 - $334,000 | $172,000 - $659,000 | -49% |
Local Market Factors
| Factor | St. Paul | New York |
|---|---|---|
| Cost of Living Index | 104.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $14 - $34 | $40 - $120 |
| Labor Rate Index | 1.02 | 1.45 |
| Sales Tax | 8.375% | 8.875% |
| Minimum Wage | $15.57/hr | $16.00/hr |
| LLC Filing Fee | $155 | $200 |
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