Plant Nursery Startup Cost Comparison
Carmel, IN vs Chicago, IL
Carmel, IN
$28,000 - $171,000
COL Index: 106.5
VS
Chicago, IL
$37,000 - $207,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Carmel, IN | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$1,400 - $5,100 | $5,600 - $10,900 | -61% |
|
Land Lease or Property
|
$6,500 - $52,200 | $9,800 - $78,300 | -33% |
|
Initial Plant Inventory
|
$5,000 - $35,000 | $5,000 - $35,000 | Same |
|
Shade Houses, Hoop Houses & Retail Building
|
$5,100 - $30,600 | $5,800 - $34,500 | -11% |
|
Irrigation System
|
$2,000 - $12,000 | $2,000 - $12,000 | Same |
|
Equipment & Supplies
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Marketing & Signage
|
$1,000 - $5,000 | $1,000 - $5,000 | Same |
|
Working Capital (3 Months)
|
$5,300 - $21,300 | $5,400 - $21,600 | -1% |
| Total Estimated Cost | $28,000 - $171,000 | $37,000 - $207,000 | -18% |
Local Market Factors
| Factor | Carmel | Chicago |
|---|---|---|
| Cost of Living Index | 106.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $18 - $42 | $25 - $65 |
| Labor Rate Index | 1.02 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $95 | $150 |
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