Your average wage worker made $28.09 an hour in September 2019, and that rate at 40 hours a week ends up being $58,427 a year in earnings.
These average yearly earnings are more than at least 60.7% of small business owner salaries.
How much does a small business owner make a year?
According to PayScale’s 2017 data, the average small business owner income is $73,000 per year. But, total earnings can range from $30,000 – $182,000 per year.
How much does a large business owner make?
That $65,000 is a median figure, meaning half of business owners make more and half make less. The earnings also go up with more experience as a business owner, and vary by industry and location.
How long does it take for a business to be profitable?
With the possible exception of profitable franchises, it normally takes anywhere from six months to several years for new businesses to become profitable businesses. So one of the main problems for people starting small businesses is paying their bills until their new business starts to make money.
How much do retail store owners make?
For example, the median salary for a restaurant owner/operator is around $60,000. Retail store owners earn a median income of $51,270 per year. Those who run warehouses earn an average of $55,000 annually. And the median income for those who own construction businesses sits at $62,449 per year.