How Much Do Franchise Owners Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary franchise owners make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for franchise owners and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of franchise owners are offering as compensation.
Keep reading to learn more about how much franchise owners can expect to make in the United States.
At a Glance: Salary & Jobs for Franchise Owners
According to data from 2023, there were about 221,982 positions for franchise owners in the United States. In terms of salary, the national median salary for franchise owners was reported to be $206,690. Additionally, when examining job demand, employers across the country posted 77,049 job postings related to positions for franchise owners.
How Much Money Do Franchise Owners Make?
Median salary is just one data point. To build a better understanding of how much money franchise owners and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for franchise owners.
Annual Salary for Franchise Owners
According to the BLS, the lowest earners for franchise owners and related professions earned about $79,997 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $455,039 annually.
As mentioned previously, the median salary for franchise owners in the United States in 2023 was $206,690.
Annual Salary Range For Franchise Owners In 2023
Hourly Salary for Franchise Owners
The BLS also breaks down compensation for franchise owners by hourly salary, and the median average hourly pay for franchise owners in 2023 was $99. Lowest hourly earners took home $38 while the highest reported hourly salaries for franchise owners was $219.
Hourly Salary Range For Franchise Owners In 2023
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Advertised Compensation for Franchise Owners
Data from the BLS is one way to dig into compensation for franchise owners, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for franchise owners.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Franchise Owners
Advertised Annual Salary
During a review of 83,738 job postings related to franchise owners, advertised salary was included in 29,610 of them, which was 35%. Based on those postings, the median advertised salary for franchise owners was $95,104 per year.
Hourly Salary from Job Postings for Franchise Owners
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for franchise owners. Based on 38% of postings with advertised compensation, the median hourly salary for open positions for franchise owners in the United States is about $46.
Salary Trend for Franchise Owners
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for franchise owners. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for franchise owners dating back to September 2020, advertised salaries for franchise owners have increased 27%.
Advertised Wage Trend For Franchise Owners
What's the Job Growth for Franchise Owners?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for franchise owners over the next 10 years.
According to the data obtained through Lightcast,™ there were 222,050 jobs for franchise owners in the United States in 2023. By 2033, it is expected that about 7,879 jobs will be removed. That's a 3.5% decrease over the next 10-year period.
Employment Projections For Franchise Owners
Additional Links
Ready to dig deeper into career information about franchise owners? Visit our other pages focused on salary and education for franchise owners.
What do franchise owners do?
Franchise Owners: How do you become one?
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