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1. The added cost of buying a 11×17 color laser printer with enough paper tray capacity that you were not spending all your time refilling paper. (Trays normally handle between 250-500 sheets). And make sure the printer chosen can handle the paper weight you print your newsletter on. A printer like this can run you around $3,000 vs under $1,000 for a 8 1/2 x 11 color laser printer.
2. The cost of paper and toner cartridges. Toner cartridges can cost you $100 – $250 each with yield of about 6,000-18,000 pages depending on the printer. Replacement parts might factor in also (ie. drum, chip)
3. Cost of your time to collate, staple, fold or whatever document handling needs to be done. Plus your time to handle paper jams, adding paper, replacing toner, etc.

There would be no cost difference for creating the newsletter or sending it out since you would do this whether you contract print out or not. However, you could also contract out the mailing of your newsletter, possibly to the same place that prints it.

Remember, whatever time you do not spend on clerical tasks like printing & sending out your newsletter, can be spent toward making money for your business. This is opportunity cost you would have to figure in also. Hope this helps. Good luck.

Les