Nail Salon Startup Cost Comparison
Providence, RI vs Chicago, IL
Providence, RI
$35,000 - $140,000
COL Index: 106.3
VS
Chicago, IL
$43,000 - $165,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Providence, RI | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Cosmetology License
|
$1,900 - $6,300 | $5,600 - $10,900 | -50% |
|
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
|
$8,400 - $36,800 | $9,200 - $40,300 | -9% |
|
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)
|
$8,500 - $26,600 | $8,600 - $27,000 | -1% |
| Total Estimated Cost | $35,000 - $140,000 | $43,000 - $165,000 | -16% |
Local Market Factors
| Factor | Providence | Chicago |
|---|---|---|
| Cost of Living Index | 106.3 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $32 | $25 - $65 |
| Labor Rate Index | 1.05 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $15.00/hr | $15.80/hr |
| LLC Filing Fee | $150 | $150 |
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