Pharmacy Startup Cost Comparison
Miami, FL vs Houston, TX
Miami, FL
$332,000 - $1,745,000
COL Index: 128.3
VS
Houston, TX
$283,000 - $1,493,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | Miami, FL | Houston, TX | Difference |
|---|---|---|---|
|
Licensing & DEA Registration
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Retail Space & Build-Out
|
$97,800 - $587,000 | $68,500 - $410,900 | +43% |
|
Initial Inventory
|
$100,000 - $600,000 | $100,000 - $600,000 | Same |
|
Pharmacy Equipment & Technology
|
$30,000 - $150,000 | $30,000 - $150,000 | Same |
|
Insurance & Bonding
|
$8,000 - $25,000 | $8,000 - $25,000 | Same |
|
Initial Staffing & Training
|
$21,600 - $86,400 | $18,400 - $73,600 | +17% |
|
Marketing & Launch
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Working Capital (3 Months)
|
$64,200 - $256,600 | $48,300 - $193,000 | +33% |
| Total Estimated Cost | $332,000 - $1,745,000 | $283,000 - $1,493,000 | +17% |
Local Market Factors
| Factor | Miami | Houston |
|---|---|---|
| Cost of Living Index | 128.3 | 96.5 |
| Commercial Rent ($/sqft/yr) | $25 - $65 | $18 - $45 |
| Labor Rate Index | 1.08 | 0.92 |
| Sales Tax | 7% | 8.25% |
| Minimum Wage | $13.00/hr | $7.25/hr |
| LLC Filing Fee | $125 | $300 |
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