Pawn Shop Startup Cost Comparison
Oakland, CA vs Chicago, IL
Oakland, CA
$61,000 - $236,000
COL Index: 160.5
VS
Chicago, IL
$56,000 - $220,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Oakland, CA | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$40,400 - $161,700 | $39,100 - $156,500 | +3% |
|
Initial Supplies & Inventory
|
$7,500 - $30,000 | $7,500 - $30,000 | Same |
|
Business Insurance (Annual)
|
$500 - $4,000 | $500 - $4,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$12,000 - $32,100 | $8,100 - $21,600 | +48% |
| Total Estimated Cost | $61,000 - $236,000 | $56,000 - $220,000 | +8% |
Local Market Factors
| Factor | Oakland | Chicago |
|---|---|---|
| Cost of Living Index | 160.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $28 - $65 | $25 - $65 |
| Labor Rate Index | 1.38 | 1.15 |
| Sales Tax | 10.25% | 10.25% |
| Minimum Wage | $16.00/hr | $15.80/hr |
| LLC Filing Fee | $70 | $150 |
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