Retail Store Owner Salary

A Retail Store Owner earns an average salary of $50,547 per year.

$23,628 - $123,650
$24K
$51K
$120K
MEDIAN: $50,547
10%
50%
90%

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$12.46 - $15.00
$13
MEDIAN: $13.23
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
$23,628 - $123,650  
   
Bonus
$9,696  
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).
)
$23,835 - $119,195  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 55
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
$9,696  
   
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).
)
$23,835 - $119,195  
Country: United States | Currency: USD | Updated: 4 May 2017 | 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

  • 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.
  • Hire, train, and supervise store employee team.

Common Career Paths for Retail Store Owner


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Pay by Experience Level for Retail Store Owner

Pay by Experience for a Retail Store Owner has a positive trend. An entry-level Retail Store Owner with less than 5 years of experience can expect to earn an average total compensation of $38,000 based on 22 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Retail Store Owner with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $46,000 based on 16 salaries. An experienced Retail Store Owner which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $75,000 based on 21 salaries. A Retail Store Owner with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $80,000 based on 15 salaries.

Related Job Salaries

Key Stats for Retail Store Owner

Gender

Female
64 %
Male
36 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 10 votes.
Less than 1 year
2%
1-4 years
28%
5-9 years
17%
10-19 years
28%
20 years or more
25%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Retail Store Owner Salaries

Late-Career
▲60%

Experienced
▲50%

National Average
$50,000

Mid-Career
▼9%

Entry-Level
▼24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 10 votes.

Gender

Female
64 %
Male
36 %

Years of Experience

Less than 1 year
2%
1-4 years
28%
5-9 years
17%
10-19 years
28%
20 years or more
25%

Common Health Benefits

medical benefits
Medical: 29%
dental benefits
Dental: 14%
vision benefits
Vision: 11%
no benefits
None: 71%
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