Liquor Store Startup Cost Comparison
Syracuse, NY vs Chicago, IL
Syracuse, NY
$69,000 - $269,000
COL Index: 86.2
VS
Chicago, IL
$114,000 - $445,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Syracuse, NY | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Commercial Space & Build-Out
|
$17,000 - $67,800 | $58,700 - $234,800 | -71% |
|
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)
|
$12,900 - $34,500 | $16,200 - $43,100 | -20% |
| Total Estimated Cost | $69,000 - $269,000 | $114,000 - $445,000 | -40% |
Local Market Factors
| Factor | Syracuse | Chicago |
|---|---|---|
| Cost of Living Index | 86.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $25 - $65 |
| Labor Rate Index | 0.88 | 1.15 |
| Sales Tax | 8% | 10.25% |
| Minimum Wage | $15.00/hr | $15.80/hr |
| LLC Filing Fee | $200 | $150 |
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