Store owner vs business owner

The differences between store owners and business owners can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a store owner and a business owner. Additionally, a store owner has an average salary of $60,283, which is higher than the $50,934 average annual salary of a business owner.

The top three skills for a store owner include customer service, product knowledge and payroll. The most important skills for a business owner are customer service, payroll, and financial statements.

Store owner vs business owner overview

	Store Owner	Business Owner
Yearly salary	$60,283	$50,934
Hourly rate	$28.98	$24.49
Growth rate	6%	6%
Number of jobs	189,283	107,663
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 50%	Bachelor's Degree, 52%
Average age	44	44
Years of experience	6	6

Store owner vs business owner salary

Store owners and business owners have different pay scales, as shown below.

	Store Owner	Business Owner
Average salary	$60,283	$50,934
Salary range	Between $38,000 And $94,000	Between $27,000 And $94,000
Highest paying City	-	Seattle, WA
Highest paying state	-	Washington
Best paying company	-	BD
Best paying industry	-	Retail

Differences between store owner and business owner education

There are a few differences between a store owner and a business owner in terms of educational background:

	Store Owner	Business Owner
Most common degree	Bachelor's Degree, 50%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Store owner vs business owner demographics

Here are the differences between store owners' and business owners' demographics:

	Store Owner	Business Owner
Average age	44	44
Gender ratio	Male, 49.6% Female, 50.4%	Male, 51.4% Female, 48.6%
Race ratio	Black or African American, 6.1% Unknown, 4.3% Hispanic or Latino, 15.0% Asian, 6.3% White, 67.7% American Indian and Alaska Native, 0.5%	Black or African American, 6.3% Unknown, 4.3% Hispanic or Latino, 15.5% Asian, 6.4% White, 67.0% American Indian and Alaska Native, 0.5%
LGBT Percentage	10%	10%

Differences between store owner and business owner duties and responsibilities

Store owner example responsibilities.

Manage employees, order supplies, stock, quick books POS
Manage own store, selling wide variety of products such as groceries and household items.
Train and develop to manage multi-unit operations.
Prepare payroll accounts and reconcile bank statements.
Initiate and implement computer base payroll system.
Deliver comprehensive team training in POS software and facilitate system maintenance.

Business owner example responsibilities.

Manage the budget and insure operations run smoothly.
Create, own and manage a LLC for grind pet transportation.
Establish and manage a beading boutique via the Internet by utilizing Photoshop to post designs on a personal website.
Manage sales, customer service, billing, A/P, A/R, vendor relations, negotiations, repairs, and maintenance.
Manage end to end business operations including hiring, scheduling visits, conducting customer consultations and performing pet visits.
Handle all aspects from A/P to A/R, payroll, ordering and dealing with all distributors and city officials.

Store owner vs business owner skills

Common store owner skills

Customer Service, 26%
Product Knowledge, 12%
Payroll, 10%
Store Merchandise, 6%
Inventory Control, 4%
Retail Store, 4%

Common business owner skills

Customer Service, 31%
Payroll, 12%
Financial Statements, 9%
Business Plan, 7%
Business Model, 3%
Real Estate, 2%