Pharmacy Startup Cost Comparison
Minneapolis, MN vs Houston, TX
Minneapolis, MN
$293,000 - $1,531,000
COL Index: 109.5
VS
Houston, TX
$283,000 - $1,493,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | Minneapolis, MN | Houston, TX | Difference |
|---|---|---|---|
|
Licensing & DEA Registration
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Retail Space & Build-Out
|
$68,500 - $410,900 | $68,500 - $410,900 | Same |
|
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)
|
$54,800 - $219,000 | $48,300 - $193,000 | +13% |
| Total Estimated Cost | $293,000 - $1,531,000 | $283,000 - $1,493,000 | +3% |
Local Market Factors
| Factor | Minneapolis | Houston |
|---|---|---|
| Cost of Living Index | 109.5 | 96.5 |
| Commercial Rent ($/sqft/yr) | $18 - $45 | $18 - $45 |
| Labor Rate Index | 1.08 | 0.92 |
| Sales Tax | 8.025% | 8.25% |
| Minimum Wage | $15.57/hr | $7.25/hr |
| LLC Filing Fee | $155 | $300 |
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