Small Business Owner / Operator Salary
Job Description for Small Business Owner / Operator
Small business owners and operators work in a variety of industries such as retail goods, auto repair, home inspection, and many others. Their primary duties (outside of their respective skill or trade) include managing employees, providing customer service, promoting their business, filing and documenting appropriate business accounts, and ensuring their business meets any local, state, and federal requirements. Small business owners may work from a storefront, office space, or even from their home. Depending on the type of business, trade, or service they practice, their hours can vary; however, many organizations operate during daytime hours.Read More...
Small business owners and operators generally must have experience in their field, and experience running a business is often beneficial. These professionals are required to have knowledge of tax law, payroll accounting, employee rights, and employee management. Depending on local, state, and federal guidelines, they may have to file their taxes and expenses for themselves, their business, and their employees in ways that differ from common individual taxes.
Small business owners and operators may run their own business for a variety of reasons. Their work experience could qualify them to be self-managed. They may have time, financial, and/or personal constraints that make the flexibility of a small business preferable to that of a subordinate position at another business. Small business owners and operators may also like the challenge and potential rewards of operating a small business.
Common Career Paths for Small Business Owner / Operator
It's not very common for Small Business Owners and Operators to move on to become Construction Managers. Average pay for a Construction Manager is $73K annually. Becoming a Construction Project Manager is, more often than not, the most common role that Small Business Owners and Operators move into when they're ready for the next step in their career. The average salary for the position is $70K. Another frequent advance is for Small Business Owners and Operators to assume an Office Manager role; in this role, workers often earn $39K.
Owner / Operator Job Listings
Search for more jobs:
Popular Skills for Small Business Owner / Operator
Small Business Owners and Operators seem to exploit a large range of skills on the job. Most notably, facility with Construction Estimating, Social Media Marketing, and Project Management are correlated to pay that is significantly above average, leading to increases of 21 percent, 7 percent, and 3 percent, respectively. Those listing Cleaning as a skill should be prepared for drastically lower pay. Bookkeeping and Customer Service also typically command lower compensation. Those familiar with Leadership also tend to know Customer Relationship Management (CRM) and Strategic Planning.
Pay by Experience Level for Small Business Owner / Operator
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Relatively untried employees who have fewer than five years of experience earn around $44K on average. People who have worked for five to 10 years can expect a higher median salary of $51K. Small Business Owners and Operators see a median salary of $63K after reaching one to two decades on the job. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $70K.
Pay Difference by Location
For Small Business Owners and Operators, Dallas, Houston, and Austin, all cities in the state of Texas, are home to the highest salaries in the United States, offering rates above the national average. Small Business Owners and Operators in Charlotte take home the lowest salaries, earning a whopping 39 percent less than the national average. Workers in Tampa and Memphis earn salaries that trail the national average for those in this profession (28 percent less and 16 percent less, respectively).
Small Business Owner / Operator Reviews
Related Job Salaries
Key Stats for Small Business Owner / Operator
Rated 5 out of 5
based on 167 votes.