Nail Salon Startup Cost Comparison
Minneapolis, MN vs Chicago, IL
Minneapolis, MN
$37,000 - $148,000
COL Index: 109.5
VS
Chicago, IL
$43,000 - $165,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Minneapolis, MN | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Cosmetology License
|
$1,400 - $6,300 | $5,600 - $10,900 | -53% |
|
Commercial Lease (First + Last + Security)
|
$4,900 - $24,700 | $7,000 - $35,200 | -30% |
|
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
|
$8,600 - $37,800 | $9,200 - $40,300 | -6% |
|
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)
|
$8,800 - $27,400 | $8,600 - $27,000 | +2% |
| Total Estimated Cost | $37,000 - $148,000 | $43,000 - $165,000 | -11% |
Local Market Factors
| Factor | Minneapolis | Chicago |
|---|---|---|
| Cost of Living Index | 109.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $18 - $45 | $25 - $65 |
| Labor Rate Index | 1.08 | 1.15 |
| Sales Tax | 8.025% | 10.25% |
| Minimum Wage | $15.57/hr | $15.80/hr |
| LLC Filing Fee | $155 | $150 |
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