Pharmacy Startup Cost Comparison
Waterloo, IA vs Chicago, IL
Waterloo, IA
$236,000 - $1,229,000
COL Index: 84.5
VS
Chicago, IL
$323,000 - $1,710,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Waterloo, IA | Chicago, IL | Difference |
|---|---|---|---|
|
Licensing & DEA Registration
|
$5,000 - $20,000 | $5,600 - $20,000 | -2% |
|
Retail Space & Build-Out
|
$30,400 - $182,600 | $97,800 - $587,000 | -69% |
|
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
|
$15,600 - $62,400 | $23,000 - $92,000 | -32% |
|
Marketing & Launch
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Working Capital (3 Months)
|
$42,300 - $169,000 | $53,900 - $215,600 | -22% |
| Total Estimated Cost | $236,000 - $1,229,000 | $323,000 - $1,710,000 | -28% |
Local Market Factors
| Factor | Waterloo | Chicago |
|---|---|---|
| Cost of Living Index | 84.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $8 - $20 | $25 - $65 |
| Labor Rate Index | 0.78 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $50 | $150 |
View Full Details
Ready to Start Your Pharmacy?
Start your Pharmacy LLC in — free registered agent for 1 year.
Form Your LLC for $0 + State Fee →Trusted by 500,000+ businesses · Excellent rating on Trustpilot