Salary of a Franchise Manager
Retail clothing, food and lodging franchises are just a few of the many types of franchises in existence. Managers of each type of franchise are direct and supervise daily operations and employees. They handle budgets and payrolls, order supplies and inventory and strive to increase sales. They wear many hats, and their salaries can vary significantly between industries.
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General
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General managers overall earned an average of $113,100 per year as of May 2010, according to the Bureau of Labor Statistics. The 10th percentile earned up to $47,280 per year, and the 25th percentile made up to $65,290 per year. The median salary was $94,400, and the 75th percentile made up to $142,030 per year. The 90th percentile earned over $166,400 per year.
Lodging
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Lodging managers work in an industry that faces slow job growth of only 5 percent from 2008 to 2018, according to an estimate by the Bureau of Labor Statistics. They direct housekeeping and personnel, set room rates, allocate resources and perform other duties to increase their hotels' profitability. The average salary of a lodging manager was $54,570 per year as of May 2010, according to the BLS. The lowest 25th percentile made below $36,200 per year, and the middle 50 percent earned from $36,201 to $64,720. The upper 25th percentile earned over $64,721 per year.
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Food Service
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Managers of restaurants, both dine-in and fast food, earned an average of $52,220 per year. The lower 25th percentile made less than $38,000, and the middle 50 percent earned between $38,001 and $61,970 per year. The upper 25th percentile earned more than $61,971 annually. Food service managers also face job growth of 5 percent from 2008 to 2018. However, many job opportunities result from managers leaving the occupation.
Clothing and General Merchandise
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Clothing store managers earned a median salary of $30.25 per hour as of 2008, according to the Bureau of Labor Statistics. General merchandise store managers earned a median hourly wage of $34.24 per hour as of the same year. The retail store industry is highly dependent on the state of the economy, and some even well-established stores go out of business when the economy flounders. Fast changes in increases and decreases in employment are the part of the nature of the retail industry as well. The BLS expects superstores and warehouse clubs to experience growth in the coming years through 2018. Full-service department stores are expected to decline in number.
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References
- Bureau of Labor Statistics; Top Executives; December 2009
- Bureau of Labor Statistics; General and Operations Managers; May 2011
- Bureau of Labor Statistics; Lodging Managers; December 2009
- Bureau of Labor Statistics; Occup. Empl. & Wages -- My 2010 -- Lodging Managers; May 2011
- Bureau of Labor Statistics; Occup. Empl. & Wages -- My 2010 -- Food Service Managers; May 2011
- Bureau of Labor Statistics; Food Service managers; December 2009
