Spa Startup Cost Comparison
Providence, RI vs Chicago, IL
Providence, RI
$84,000 - $319,000
COL Index: 106.3
VS
Chicago, IL
$99,000 - $376,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Providence, RI | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$1,900 - $6,300 | $5,600 - $10,900 | -50% |
|
Commercial Lease (First + Last + Security)
|
$9,000 - $45,000 | $17,600 - $88,000 | -49% |
|
Spa Equipment & Furnishings
|
$20,000 - $80,000 | $20,000 - $80,000 | Same |
|
Initial Product & Supplies Inventory
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Interior Build-Out & Ambiance Design
|
$26,300 - $94,500 | $28,800 - $103,500 | -9% |
|
Business Insurance (Annual)
|
$3,000 - $8,000 | $3,000 - $8,000 | Same |
|
Marketing & Launch
|
$3,000 - $12,000 | $3,000 - $12,000 | Same |
|
Working Capital (3 Months)
|
$15,900 - $53,200 | $16,200 - $53,900 | -1% |
| Total Estimated Cost | $84,000 - $319,000 | $99,000 - $376,000 | -15% |
Local Market Factors
| Factor | Providence | Chicago |
|---|---|---|
| Cost of Living Index | 106.3 | 107.8 |
| Commercial Rent ($/sqft/yr) | $14 - $32 | $25 - $65 |
| Labor Rate Index | 1.05 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $15.00/hr | $15.80/hr |
| LLC Filing Fee | $150 | $150 |
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