The average salary for a Retail Store Owner is $48,528.
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What Do Retail Store Owners Do?
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…Read more
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.
Job Satisfaction for Retail Store Owner
Explore the most common career paths for Retail Store Owner. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner
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Somewhat common (8 - 20%)
Retail Store Owner Job Listings
What Are Popular Skills for Retail Store Owners?
Skills that pay less than market rate include Sales, Inventory Management, Strategic Marketing, Customer Service and Operations Management.
What is the Pay by Experience Level for Retail Store Owners?
An early career Retail Store Owner with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $45,000 based on 27 salaries. A mid-career Retail Store Owner with 5-9 years of experience earns an average total compensation of $49,717 based on 7 salaries. An experienced Retail Store Owner with 10-19 years of experience earns an average total compensation of $64,496 based on 27 salaries. In their late career (20 years and higher), employees earn an average total compensation of $51,415.
Years of Experience
This data is based on 77 survey responses.