Plant Nursery Startup Cost Comparison
Minneapolis, MN vs New York, NY
Minneapolis, MN
$29,000 - $177,000
COL Index: 109.5
VS
New York, NY
$49,000 - $299,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Minneapolis, MN | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$1,400 - $6,300 | $5,300 - $17,100 | -66% |
|
Land Lease or Property
|
$6,800 - $54,800 | $17,400 - $139,100 | -61% |
|
Initial Plant Inventory
|
$5,000 - $35,000 | $5,000 - $35,000 | Same |
|
Shade Houses, Hoop Houses & Retail Building
|
$5,400 - $32,400 | $7,300 - $43,500 | -26% |
|
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)
|
$5,500 - $21,900 | $9,400 - $37,400 | -41% |
| Total Estimated Cost | $29,000 - $177,000 | $49,000 - $299,000 | -41% |
Local Market Factors
| Factor | Minneapolis | New York |
|---|---|---|
| Cost of Living Index | 109.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $18 - $45 | $40 - $120 |
| Labor Rate Index | 1.08 | 1.45 |
| Sales Tax | 8.025% | 8.875% |
| Minimum Wage | $15.57/hr | $16.00/hr |
| LLC Filing Fee | $155 | $200 |
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