Yoga Studio Startup Cost Comparison
West Palm Beach, FL vs Chicago, IL
West Palm Beach, FL
$48,000 - $189,000
COL Index: 110.2
VS
Chicago, IL
$56,000 - $215,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | West Palm Beach, FL | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$2,400 - $8,300 | $5,600 - $10,900 | -35% |
|
Commercial Lease (First + Last + Security)
|
$8,100 - $40,400 | $11,700 - $58,700 | -31% |
|
Studio Equipment & Props
|
$5,000 - $18,000 | $5,000 - $18,000 | Same |
|
Studio Build-Out & Design
|
$15,800 - $63,000 | $17,300 - $69,000 | -9% |
|
Technology & Booking Platform
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Business Insurance (Annual)
|
$1,500 - $4,500 | $1,500 - $4,500 | Same |
|
Marketing & Launch
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Working Capital (3 Months)
|
$11,000 - $38,600 | $10,800 - $37,700 | +2% |
| Total Estimated Cost | $48,000 - $189,000 | $56,000 - $215,000 | -13% |
Local Market Factors
| Factor | West Palm Beach | Chicago |
|---|---|---|
| Cost of Living Index | 110.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $20 - $42 | $25 - $65 |
| Labor Rate Index | 1.05 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $13.00/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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