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The differences between co-owners and owner/operators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become a co-owner, becoming an owner/operator takes usually requires 1-2 years. Additionally, an owner/operator has an average salary of $167,288, 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/operator are CDL, PET, and customer service.
| Co-Owner | Owner/Operator | |
| Yearly salary | $86,704 | $167,288 |
| Hourly rate | $41.68 | $80.43 |
| Growth rate | 6% | 4% |
| Number of jobs | 52,915 | 119,599 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 42% |
| Average age | 52 | 48 |
| Years of experience | - | 2 |
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.
Owners/operators manage the business in all aspects, especially in those related to operations. They ensure that every aspect of the business is running smoothly. They oversee finance, marketing, logistics, sales, and even the human resources of the whole organization. They set business goals, create action plans to achieve them, and make sure that the plans are followed through. They set strategic direction and make business decisions that would be the most beneficial to the organization. They ensure that the business has enough funds to continue operating and that the quality of the products and services they offer continuously improve.
Co-owners and owner/operators have different pay scales, as shown below.
| Co-Owner | Owner/Operator | |
| Average salary | $86,704 | $167,288 |
| Salary range | Between $63,000 And $118,000 | Between $105,000 And $264,000 |
| Highest paying City | - | Bridgeport, CT |
| Highest paying state | - | Oregon |
| Best paying company | - | Reddy Ice |
| Best paying industry | - | Technology |
There are a few differences between a co-owner and an owner/operator in terms of educational background:
| Co-Owner | Owner/Operator | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 42% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between co-owners' and owner/operators' demographics:
| Co-Owner | Owner/Operator | |
| Average age | 52 | 48 |
| Gender ratio | Male, 53.2% Female, 46.8% | Male, 66.8% Female, 33.2% |
| 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, 12.1% Unknown, 4.7% Hispanic or Latino, 17.1% Asian, 3.6% White, 61.7% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 12% | 4% |