Pharmacy Startup Cost Comparison
Olympia, WA vs New York, NY
Olympia, WA
$277,000 - $1,433,000
COL Index: 110.5
VS
New York, NY
$445,000 - $2,349,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Olympia, WA | New York, NY | Difference |
|---|---|---|---|
|
Licensing & DEA Registration
|
$5,000 - $20,000 | $5,300 - $20,000 | -1% |
|
Retail Space & Build-Out
|
$52,200 - $313,000 | $173,900 - $1,043,500 | -70% |
|
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
|
$21,000 - $84,000 | $29,000 - $116,000 | -28% |
|
Marketing & Launch
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Working Capital (3 Months)
|
$55,300 - $221,000 | $93,600 - $374,400 | -41% |
| Total Estimated Cost | $277,000 - $1,433,000 | $445,000 - $2,349,000 | -39% |
Local Market Factors
| Factor | Olympia | New York |
|---|---|---|
| Cost of Living Index | 110.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $16 - $32 | $40 - $120 |
| Labor Rate Index | 1.05 | 1.45 |
| Sales Tax | 9% | 8.875% |
| Minimum Wage | $16.28/hr | $16.00/hr |
| LLC Filing Fee | $180 | $200 |
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