Pharmacy Startup Cost Comparison
Miami, FL vs Los Angeles, CA
Miami, FL
$332,000 - $1,745,000
COL Index: 128.3
VS
Los Angeles, CA
$383,000 - $2,006,000
COL Index: 166.5
Detailed Cost Comparison
| Expense | Miami, FL | Los Angeles, CA | Difference |
|---|---|---|---|
|
Licensing & DEA Registration
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Retail Space & Build-Out
|
$97,800 - $587,000 | $125,000 - $750,000 | -22% |
|
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 | $27,000 - $108,000 | -20% |
|
Marketing & Launch
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Working Capital (3 Months)
|
$64,200 - $256,600 | $83,300 - $333,000 | -23% |
| Total Estimated Cost | $332,000 - $1,745,000 | $383,000 - $2,006,000 | -13% |
Local Market Factors
| Factor | Miami | Los Angeles |
|---|---|---|
| Cost of Living Index | 128.3 | 166.5 |
| Commercial Rent ($/sqft/yr) | $25 - $65 | $30 - $85 |
| Labor Rate Index | 1.08 | 1.35 |
| Sales Tax | 7% | 9.5% |
| Minimum Wage | $13.00/hr | $16.78/hr |
| LLC Filing Fee | $125 | $70 |
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