Travel Agency Startup Cost Comparison
Charleston, SC vs New York, NY
Charleston, SC
$7,000 - $44,000
COL Index: 110.8
VS
New York, NY
$14,000 - $73,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Charleston, SC | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$1,400 - $6,300 | $5,300 - $17,100 | -66% |
|
Host Agency Fees & Consortia
|
$200 - $1,500 | $200 - $1,500 | Same |
|
Industry Accreditation & Training
|
$500 - $5,000 | $500 - $5,000 | Same |
|
Software & Booking Tools
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Office Setup
|
$600 - $6,300 | $1,700 - $17,400 | -64% |
|
Errors & Omissions Insurance (Annual)
|
$500 - $2,500 | $500 - $2,500 | Same |
|
Marketing & Client Acquisition
|
$1,500 - $8,000 | $1,500 - $8,000 | Same |
|
Working Capital (3 Months)
|
$2,200 - $11,100 | $3,700 - $18,700 | -41% |
| Total Estimated Cost | $7,000 - $44,000 | $14,000 - $73,000 | -41% |
Local Market Factors
| Factor | Charleston | New York |
|---|---|---|
| Cost of Living Index | 110.8 | 187.2 |
| Commercial Rent ($/sqft/yr) | $18 - $40 | $40 - $120 |
| Labor Rate Index | 1.06 | 1.45 |
| Sales Tax | 9% | 8.875% |
| Minimum Wage | $7.25/hr | $16.00/hr |
| LLC Filing Fee | $110 | $200 |
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