Nail Salon Startup Cost Comparison
Chicago, IL vs New York, NY
Chicago, IL
$43,000 - $165,000
COL Index: 107.8
VS
New York, NY
$57,000 - $229,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Chicago, IL | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Cosmetology License
|
$5,600 - $10,900 | $5,300 - $17,100 | -26% |
|
Commercial Lease (First + Last + Security)
|
$7,000 - $35,200 | $12,500 - $62,600 | -44% |
|
Nail Stations & Equipment
|
$8,000 - $35,000 | $8,000 - $35,000 | Same |
|
Initial Products & Supplies
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Interior Build-Out & Renovation
|
$9,200 - $40,300 | $11,600 - $50,800 | -21% |
|
Business Insurance (Annual)
|
$1,500 - $5,000 | $1,500 - $5,000 | Same |
|
Marketing & Grand Opening
|
$1,500 - $6,000 | $1,500 - $6,000 | Same |
|
Working Capital (3 Months)
|
$8,600 - $27,000 | $15,000 - $46,800 | -42% |
| Total Estimated Cost | $43,000 - $165,000 | $57,000 - $229,000 | -27% |
Local Market Factors
| Factor | Chicago | New York |
|---|---|---|
| Cost of Living Index | 107.8 | 187.2 |
| Commercial Rent ($/sqft/yr) | $25 - $65 | $40 - $120 |
| Labor Rate Index | 1.15 | 1.45 |
| Sales Tax | 10.25% | 8.875% |
| Minimum Wage | $15.80/hr | $16.00/hr |
| LLC Filing Fee | $150 | $200 |
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