The average salary for a Retail Store Owner is $51,308 per year. Experience strongly influences income for this job.

$23,672 - $145,437
(Median)
$24K
$51K
$150K
MEDIAN: $51,308
10%
50%
90%

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$12.46 - $20.00
(Median)
$
$13
$
MEDIAN: $13.00
50%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$23,672 - $145,437  
   
Bonus
$9,721  
Profit Sharing
$30,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$23,928 - $120,805  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 53
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$25$50$75
Hourly Rate
$13.23  
   
Overtime
$26.00  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$9,721  
   
Profit Sharing
$30,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$23,928 - $120,805  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 5
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Job Description for Retail Store Owner

Retail store owners usually fall into one of two categories. Either they are a franchisee or an independent store owner. The freedom allowed between the two varies vastly. As a franchisee, owners pay a substantial amount of money to a parent company in exchange for opening and operating a retail location. Franchisees have little decision-making power when it comes to inventory, items for sale, advertising, sales, and general operations. Independent retail store owners open on their own, and they have total control over their store and its concept. This freedom has a trade-off, however. Independent retail is more risky than franchises, because as a franchisee you are working with an already established, well-known brand.

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Retail Store Owner Tasks

  • Hire, train, and supervise store employee team.
  • Ensure compliance with licensing, taxation, and insurance regulations and completion of required paperwork.
  • Develop and execute store’s business and marketing plans and manage store finances.
  • Oversee acquisition of store merchandise, communication with suppliers, and design displays.

Common Career Paths for Retail Store Owner


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Pay by Experience Level for Retail Store Owner

Median of all compensation (including tips, bonus, and overtime) by years of experience.

Related Job Salaries

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Experience Affects Retail Store Owner Salaries

Late-Career
up arrow 57%

Experienced
up arrow 27%

Mid-Career
0%

National Average
$51,000

Entry-Level
up arrow 39%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 6 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
3%
1-4 years
26%
5-9 years
19%
10-19 years
24%
20 years or more
28%

Common Health Benefits

medical benefits
Medical: 23%
dental benefits
Dental: 13%
medical benefits
Vision: 13%
dental benefits
None: 77%
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