Welding Business Startup Cost Comparison
Duluth, MN vs Chicago, IL
Duluth, MN
$19,000 - $104,000
COL Index: 93
VS
Chicago, IL
$26,000 - $138,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Duluth, MN | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Certifications
|
$800 - $3,900 | $5,600 - $10,900 | -72% |
|
Welding Machines & Equipment
|
$5,000 - $30,000 | $5,000 - $30,000 | Same |
|
Shop or Workspace
|
$1,400 - $13,900 | $3,900 - $39,100 | -64% |
|
Fabrication Tools
|
$2,000 - $12,000 | $2,000 - $12,000 | Same |
|
Safety Equipment & PPE
|
$500 - $2,000 | $500 - $2,000 | Same |
|
Work Vehicle & Mobile Rig
|
$5,000 - $25,000 | $5,000 - $25,000 | Same |
|
Business Insurance (Annual)
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Working Capital (3 Months)
|
$1,900 - $9,300 | $2,200 - $10,800 | -14% |
| Total Estimated Cost | $19,000 - $104,000 | $26,000 - $138,000 | -25% |
Local Market Factors
| Factor | Duluth | Chicago |
|---|---|---|
| Cost of Living Index | 93 | 107.8 |
| Commercial Rent ($/sqft/yr) | $10 - $22 | $25 - $65 |
| Labor Rate Index | 0.9 | 1.15 |
| Sales Tax | 8.875% | 10.25% |
| Minimum Wage | $10.85/hr | $15.80/hr |
| LLC Filing Fee | $155 | $150 |
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