Med Spa Startup Cost Comparison
Norfolk, VA vs Miami, FL
Norfolk, VA
$193,000 - $552,000
COL Index: 97.6
VS
Miami, FL
$221,000 - $650,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Norfolk, VA | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Medical Licensing
|
$2,400 - $10,000 | $2,600 - $10,000 | -2% |
|
Commercial Lease (First + Last + Security)
|
$9,900 - $43,400 | $23,500 - $102,700 | -58% |
|
Medical & Aesthetic Equipment
|
$80,000 - $200,000 | $80,000 - $200,000 | Same |
|
Initial Injectable & Product Inventory
|
$15,000 - $50,000 | $15,000 - $50,000 | Same |
|
Medical Build-Out & Compliance
|
$38,400 - $115,200 | $43,200 - $129,600 | -11% |
|
Business & Medical Malpractice Insurance
|
$8,000 - $25,000 | $8,000 - $25,000 | Same |
|
Marketing & Patient Acquisition
|
$10,000 - $30,000 | $10,000 - $30,000 | Same |
|
Working Capital (3 Months)
|
$29,300 - $78,100 | $38,500 - $102,600 | -24% |
| Total Estimated Cost | $193,000 - $552,000 | $221,000 - $650,000 | -14% |
Local Market Factors
| Factor | Norfolk | Miami |
|---|---|---|
| Cost of Living Index | 97.6 | 128.3 |
| Commercial Rent ($/sqft/yr) | $12 - $26 | $25 - $65 |
| Labor Rate Index | 0.96 | 1.08 |
| Sales Tax | 6% | 7% |
| Minimum Wage | $12.41/hr | $13.00/hr |
| LLC Filing Fee | $100 | $125 |
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