Spa Startup Cost Comparison
Winston-Salem, NC vs Chicago, IL
Winston-Salem, NC
$73,000 - $278,000
COL Index: 88.6
VS
Chicago, IL
$99,000 - $376,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Winston-Salem, NC | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$1,100 - $5,000 | $5,600 - $10,900 | -63% |
|
Commercial Lease (First + Last + Security)
|
$5,900 - $29,300 | $17,600 - $88,000 | -67% |
|
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
|
$22,000 - $79,200 | $28,800 - $103,500 | -24% |
|
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)
|
$13,300 - $44,300 | $16,200 - $53,900 | -18% |
| Total Estimated Cost | $73,000 - $278,000 | $99,000 - $376,000 | -26% |
Local Market Factors
| Factor | Winston-Salem | Chicago |
|---|---|---|
| Cost of Living Index | 88.6 | 107.8 |
| Commercial Rent ($/sqft/yr) | $10 - $20 | $25 - $65 |
| Labor Rate Index | 0.88 | 1.15 |
| Sales Tax | 6.75% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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