It always sounds like a noble thing to own a business. Imagine settling things under your own supervision with no concerns that your boss might actually scold you (yay - you feel me?). Everyone wants that. But let's minimize the fantasy because no matter how much everyone wants it, only a few could really have what it takes. Great things don't come easy, they say.

Aside from the fact that you need to have strong critical-thinking skills, leadership is equally important, too. Handling a business wouldn't only mean implementing decisions for your benefit, but also for the people who work for you. You need to sacrifice so many things, even your usual weekends and holidays, just to negotiate offers, meet with clients, and finish reading a mountain of papers (right, you should love reading, too!). Being a co-owner of a business means having tons of responsibilities... you can't drag them on for too long, or you'll end up losing clients, business, and money. Of course, you wouldn't want that.

Some tried and got through the hard times. Some failed and discovered what they really wanted. Wherever the path leads you, it's still a good thing to try. Who knows? You may see yourself doing interviews and having your face shown in tabloids. There are endless possibilities. But none of it can happen, unless you make it.

What Does a Co-Owner Do

There are certain skills that many co-owners have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed management skills, problem-solving skills and time-management skills.

How To Become a Co-Owner

If you're interested in becoming a co-owner, one of the first things to consider is how much education you need. We've determined that 53.8% of co-owners have a bachelor's degree. In terms of higher education levels, we found that 7.3% of co-owners have master's degrees. Even though most co-owners have a college degree, it's possible to become one with only a high school degree or GED.

Co-Owner Career Paths

Average Salary for a Co-Owner

Co-Owners in America make an average salary of $86,704 per year or $42 per hour. The top 10 percent makes over $118,000 per year, while the bottom 10 percent under $63,000 per year.
Average Co-Owner Salary
$86,704 Yearly
$41.68 hourly
$63,000
10%
$86,000
Median
$118,000
90%

What Am I Worth?

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Roles and Types of Co-Owner

There are several types of co-owner, including:

Owner

Role:

We know what you're thinking - as an owner, your only role is to hire people to run your company and then sit back and enjoy the view. Well, we're here to tell you that that's wishful thinking. While it'll probably pay off eventually, being an owner of a company is hard stuff.

Sure, you can still hire people to help carry out tasks, but you also need to be reviewing sales, coming up with marketing strategies, and even overseeing operations. The biggest role you have is finding new opportunities to grow or expand your business.

Many business owners who are just starting out typically work really long hours. It takes a lot of work to get an idea off the ground. In general, a 50-60-hour workweek isn't uncommon, especially in the beginning. Once the business takes off, then you can start to afford little luxuries, like working less hours.
  • Average Salary: $90,334
  • Degree: Bachelor's Degree

Vice President

Role:

A vice president of a company keeps watch over all of the internal operations. They work to build strong customer relationships while also staying focused on the financial goals at hand.

The average vice president spends a lot of time at work. I mean, we're talking, a lot of time, like upwards of 65-80 hours a week. Since the majority of the company falls into your hands, you'll likely spend a lot of that time making sure everything is running as efficiently as it can.

As a vice president, it's easy to assume you've have a lot of experience in your field. In addition to experience, it's likely you have also earned at least a bachelor's degree, if not a master's degree as well.

  • Average Salary: $158,637
  • Degree: Bachelor's Degree

President

Role:

The president of the company is the top dog. Everyone in a leadership position reports to this individual, that's why leadership in the president's position is so very important. You've got a lot of responsibility on your hands.

The president works alongside the company's board members to set goals, plans, and strategies for moving the company forward. By setting an example of what good leadership looks like, you'll be able to set your company up for success.

Some of your work as the president may revolve around managing budgets. You want to make sure that you're able to keep up with expenses with the amount of cash that's flowing in and if there should ever come a time when your budget is out of whack, you may have to make some tough budget cuts.
  • Average Salary: $192,329
  • Degree: Bachelor's Degree

States With The Most Co-Owner Jobs

Number Of Co-Owner Jobs By State

Co-Owner Education

Co-Owner Majors

31.7 %

Co-Owner Degrees

Bachelors

53.8 %

Associate

19.6 %

High School Diploma

11.5 %

Top Colleges for Co-Owners

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. University of Texas at Austin

Austin, TX • Private

In-State Tuition
$10,610
Enrollment
40,329

5. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

6. Northeastern University

Boston, MA • Private

In-State Tuition
$51,522
Enrollment
13,760

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. George Washington University, The

Washington, DC • Private

In-State Tuition
$55,230
Enrollment
12,161

9. Lehigh University

Bethlehem, PA • Private

In-State Tuition
$52,930
Enrollment
5,030

10. Pennsylvania State University

University Park, PA • Private

In-State Tuition
$18,454
Enrollment
40,108

Top Skills For a Co-Owner

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 39.5% of co-owners listed customer service on their resume, but soft skills such as management skills and problem-solving skills are important as well.

  • Customer Service, 39.5%
  • Financial Statements, 13.0%
  • Business Plan, 3.8%
  • Real Estate, 3.2%
  • QuickBooks, 3.0%
  • Other Skills, 37.5%

Choose From 10+ Customizable Co-Owner Resume templates

Zippia allows you to choose from different easy-to-use Co-Owner templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Co-Owner resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Co-Owner Demographics

Co-Owner Gender Distribution

Male
Male
53%
Female
Female
47%

After extensive research and analysis, Zippia's data science team found that:

  • Among co-owners, 46.8% of them are women, while 53.2% are men.

  • The most common race/ethnicity among co-owners is White, which makes up 76.8% of all co-owners.

  • The most common foreign language among co-owners is Spanish at 54.5%.

Online Courses For Co-Owner That You May Like

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Financial Accounting Payroll
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Payroll calculations - federal income tax, social security, Medicare - Payroll journal entries posted to ledger accounts...

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Operations Management Training Program (Course 4 of 8)...

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Top Co-Owner Employers

Most Common Employers For Co-Owner

RankCompanyAverage SalaryHourly RateJob Openings
1A & A$132,755$63.829
2Allstate$128,588$61.829
3eBay$124,938$60.0714
4T&M Services$121,413$58.3710
5Subway$101,619$48.8610
6C&S Engineers$99,261$47.7212
7Extreme Networks$95,815$46.0610
8Jani-King$92,796$44.6112
9B&M Stores$91,270$43.889
10M&T Bank$90,807$43.6611

Co-Owner Videos

Becoming a Co-Owner FAQs

How Long Does It Take To Become A Co-owner?

It takes 6 years of professional experience to become a co-owner. That is the time it takes to learn specific co-owner skills, but does not account for time spent in formal education. If you include the normal education requirements to complete a college degree, then it takes 9 to 11 years years to become a co-owner.

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