Martial Arts Studio Startup Cost Comparison
Richmond, VA vs Chicago, IL
Richmond, VA
$27,000 - $130,000
COL Index: 100.5
VS
Chicago, IL
$37,000 - $168,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Richmond, VA | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$2,400 - $7,200 | $5,600 - $10,900 | -42% |
|
Studio Lease (First + Last + Security)
|
$4,800 - $26,800 | $9,800 - $54,800 | -51% |
|
Studio Build-Out
|
$5,000 - $25,000 | $5,800 - $28,800 | -13% |
|
Training Equipment & Gear
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Uniform & Merchandise Inventory
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Business Insurance (Annual)
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Marketing & Student Recruitment
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Working Capital (3 Months)
|
$6,000 - $30,200 | $6,500 - $32,300 | -7% |
| Total Estimated Cost | $27,000 - $130,000 | $37,000 - $168,000 | -23% |
Local Market Factors
| Factor | Richmond | Chicago |
|---|---|---|
| Cost of Living Index | 100.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $30 | $25 - $65 |
| Labor Rate Index | 1 | 1.15 |
| Sales Tax | 6% | 10.25% |
| Minimum Wage | $12.41/hr | $15.80/hr |
| LLC Filing Fee | $100 | $150 |
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