Pilates Studio Startup Cost Comparison
Memphis, TN vs Chicago, IL
Memphis, TN
$20,000 - $99,000
COL Index: 87.6
VS
Chicago, IL
$34,000 - $167,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Memphis, TN | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$200 - $3,000 | $200 - $3,000 | Same |
|
Space & Equipment
|
$10,400 - $52,200 | $23,500 - $117,400 | -56% |
|
Initial Supplies & Inventory
|
$4,500 - $22,500 | $4,500 - $22,500 | Same |
|
Business Insurance (Annual)
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Marketing & Launch
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Working Capital (3 Months)
|
$3,900 - $13,100 | $4,900 - $16,200 | -19% |
| Total Estimated Cost | $20,000 - $99,000 | $34,000 - $167,000 | -41% |
Local Market Factors
| Factor | Memphis | Chicago |
|---|---|---|
| Cost of Living Index | 87.6 | 107.8 |
| Commercial Rent ($/sqft/yr) | $12 - $28 | $25 - $65 |
| Labor Rate Index | 0.85 | 1.15 |
| Sales Tax | 9.75% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $300 | $150 |
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