Nail Salon Startup Cost Comparison
New York, NY vs Chicago, IL
New York, NY
$57,000 - $229,000
COL Index: 187.2
VS
Chicago, IL
$43,000 - $165,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | New York, NY | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Cosmetology License
|
$5,300 - $17,100 | $5,600 - $10,900 | +36% |
|
Commercial Lease (First + Last + Security)
|
$12,500 - $62,600 | $7,000 - $35,200 | +78% |
|
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
|
$11,600 - $50,800 | $9,200 - $40,300 | +26% |
|
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)
|
$15,000 - $46,800 | $8,600 - $27,000 | +74% |
| Total Estimated Cost | $57,000 - $229,000 | $43,000 - $165,000 | +38% |
Local Market Factors
| Factor | New York | Chicago |
|---|---|---|
| Cost of Living Index | 187.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $40 - $120 | $25 - $65 |
| Labor Rate Index | 1.45 | 1.15 |
| Sales Tax | 8.875% | 10.25% |
| Minimum Wage | $16.00/hr | $15.80/hr |
| LLC Filing Fee | $200 | $150 |
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