Locksmith Business Startup Cost Comparison
Tempe, AZ vs Chicago, IL
Tempe, AZ
$5,000 - $35,000
COL Index: 108.5
VS
Chicago, IL
$7,000 - $42,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Tempe, AZ | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$2,600 - $15,700 | $3,900 - $23,500 | -33% |
|
Initial Supplies & Inventory
|
$800 - $4,500 | $800 - $4,500 | Same |
|
Business Insurance (Annual)
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$800 - $3,300 | $800 - $3,200 | +3% |
| Total Estimated Cost | $5,000 - $35,000 | $7,000 - $42,000 | -18% |
Local Market Factors
| Factor | Tempe | Chicago |
|---|---|---|
| Cost of Living Index | 108.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $18 - $42 | $25 - $65 |
| Labor Rate Index | 1.05 | 1.15 |
| Sales Tax | 8.1% | 10.25% |
| Minimum Wage | $14.35/hr | $15.80/hr |
| LLC Filing Fee | $50 | $150 |
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