Pawn Shop Startup Cost Comparison
Springfield, IL vs Los Angeles, CA
Springfield, IL
$28,000 - $112,000
COL Index: 86.5
VS
Los Angeles, CA
$71,000 - $275,000
COL Index: 166.5
Detailed Cost Comparison
| Expense | Springfield, IL | Los Angeles, CA | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$13,000 - $52,200 | $50,000 - $200,000 | -74% |
|
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)
|
$6,500 - $17,300 | $12,500 - $33,300 | -48% |
| Total Estimated Cost | $28,000 - $112,000 | $71,000 - $275,000 | -60% |
Local Market Factors
| Factor | Springfield | Los Angeles |
|---|---|---|
| Cost of Living Index | 86.5 | 166.5 |
| Commercial Rent ($/sqft/yr) | $10 - $20 | $30 - $85 |
| Labor Rate Index | 0.86 | 1.35 |
| Sales Tax | 9.75% | 9.5% |
| Minimum Wage | $14.00/hr | $16.78/hr |
| LLC Filing Fee | $150 | $70 |
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