Nail Salon Startup Cost Comparison
Madison, WI vs Chicago, IL
Madison, WI
$34,000 - $135,000
COL Index: 102.5
VS
Chicago, IL
$43,000 - $165,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Madison, WI | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Cosmetology License
|
$900 - $4,600 | $5,600 - $10,900 | -67% |
|
Commercial Lease (First + Last + Security)
|
$3,600 - $18,000 | $7,000 - $35,200 | -49% |
|
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
|
$7,800 - $34,300 | $9,200 - $40,300 | -15% |
|
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)
|
$8,200 - $25,600 | $8,600 - $27,000 | -5% |
| Total Estimated Cost | $34,000 - $135,000 | $43,000 - $165,000 | -19% |
Local Market Factors
| Factor | Madison | Chicago |
|---|---|---|
| Cost of Living Index | 102.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $32 | $25 - $65 |
| Labor Rate Index | 0.98 | 1.15 |
| Sales Tax | 5.5% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $130 | $150 |
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