Co-owner vs owner

The differences between co-owners and owners can be seen in a few details. Each job has different responsibilities and duties. It typically takes More than 10 years to become both a co-owner and an owner. Additionally, an owner has an average salary of $90,334, which is higher than the $86,704 average annual salary of a co-owner.

The top three skills for a co-owner include customer service, financial statements and business plan. The most important skills for an owner are customer service, payroll, and financial statements.

Co-owner vs owner overview

	Co-Owner	Owner
Yearly salary	$86,704	$90,334
Hourly rate	$41.68	$43.43
Growth rate	6%	6%
Number of jobs	52,915	86,486
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 52%
Average age	52	52
Years of experience	-	-

What does a co-owner do?

A co-owner is responsible for ensuring smooth business operations, searching for the best industrial opportunities to drive revenues and increase profitability. Some of the business co-owners' duties include planning activities for business promotions, monitoring current market trends, establishing a reliable workforce, developing product specifications, managing financial goals and cost estimates, strengthening marketing strategies, and keeping records of business papers and documents. A co-owner should have excellent leadership, communication, and decision-making skills to secure business growth and success.

What does an owner do?

Owners, in the most basic sense, own the business, company, or organization. They are responsible for building the business. They create business plans and the general vision and mission of the company, set goals, work on these goals, and ensure that the business keeps running. They manage all aspects of their business, from finances to marketing to people, etc. When the business becomes stable, owners eventually hire more employees. As such, owners also become overseers who would ensure that the organization remains afloat.

Co-owner vs owner salary

Co-owners and owners have different pay scales, as shown below.

	Co-Owner	Owner
Average salary	$86,704	$90,334
Salary range	Between $63,000 And $118,000	Between $60,000 And $135,000
Highest paying City	-	New York, NY
Highest paying state	-	New Jersey
Best paying company	-	BP America Inc
Best paying industry	-	-

Differences between co-owner and owner education

There are a few differences between a co-owner and an owner in terms of educational background:

	Co-Owner	Owner
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Co-owner vs owner demographics

Here are the differences between co-owners' and owners' demographics:

	Co-Owner	Owner
Average age	52	52
Gender ratio	Male, 53.2% Female, 46.8%	Male, 63.1% Female, 36.9%
Race ratio	Black or African American, 3.7% Unknown, 3.9% Hispanic or Latino, 7.5% Asian, 7.4% White, 76.8% American Indian and Alaska Native, 0.6%	Black or African American, 3.7% Unknown, 3.9% Hispanic or Latino, 7.6% Asian, 7.5% White, 76.7% American Indian and Alaska Native, 0.6%
LGBT Percentage	12%	12%

Differences between co-owner and owner duties and responsibilities

Co-owner example responsibilities.

Manage inventory, profit and loss analysis, ROI, staff training and health department standards & safety regulations.
Manage budget and financial operations, including payroll and inventory.
Manage the day to day operation/financial operations of Medicare certify home health agency.
Acquire LLC, zone compliance, city business license and all other necessary documentation for a new business.
Complete all paperwork necessary for LLC, business license, insurance requirements, audits and home improvement license.
Photograph, edit (Photoshop) and upload pictures on website for new items or for products with new look.

Owner example responsibilities.

Manage web content and a PHP / MySQL application.
Create and develop a website to help clients easily manage their instagram account to gain exposure.
Execute all social media marketing and manage the company Facebook page/campaigns.
Manage human resource functions by generating payroll, scheduling and upholding company policies.
License Maryland home improvement contractor managing a small home improvement business that specializes in doors and windows.
Manage end to end business operations including hiring, scheduling visits, conducting customer consultations and performing pet visits.

Co-owner vs owner skills

Common co-owner skills

Customer Service, 39%
Financial Statements, 13%
Business Plan, 4%
Real Estate, 3%
QuickBooks, 3%
Inventory Control, 3%

Common owner skills

Customer Service, 25%
Payroll, 17%
Financial Statements, 8%
Product Development, 7%
Real Estate, 3%
Business Development, 3%