Pawn Shop Startup Cost Comparison
Sandy, UT vs Chicago, IL
Sandy, UT
$36,000 - $140,000
COL Index: 106.5
VS
Chicago, IL
$56,000 - $220,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Sandy, UT | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$19,100 - $76,500 | $39,100 - $156,500 | -51% |
|
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)
|
$8,000 - $21,300 | $8,100 - $21,600 | -1% |
| Total Estimated Cost | $36,000 - $140,000 | $56,000 - $220,000 | -36% |
Local Market Factors
| Factor | Sandy | Chicago |
|---|---|---|
| Cost of Living Index | 106.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $30 | $25 - $65 |
| Labor Rate Index | 1 | 1.15 |
| Sales Tax | 7.25% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $54 | $150 |
View Full Details
Ready to Start Your Pawn Shop?
Start your Pawn Shop LLC in — free registered agent for 1 year.
Form Your LLC for $0 + State Fee →Trusted by 500,000+ businesses · Excellent rating on Trustpilot