How to Become a Retail Store Manager
A retail store manager oversees the day to day operations of a retail store. Their job consists of monitoring stock levels, supervising employees, as well as looking after the financial performance of a store. They may also serve customers and handle any complaints.
If you are a good problem solver, like to work with people, are able to multitask, and want to work in a challenging and busy environment, then you might like to become a retail store manager. It's a job where you are responsible for the big picture, but you won't get this right unless you have a knack for the small details. Making sure the store runs smoothly, as well as profitably can be more difficult than it sounds.
Education Requirements to Become a Retail Store Manager
While you don't need a formal degree or qualification to become a retail store manager, many who work for high end department stores have a bachelor degree in business administration, or a retail management degree. If you decide to go down this path, you will be well regarded by employers further in your career.
Many retail store manager work their way up from the bottom. With many large organizations having a policy to promote from within, this is also an ideal way to become a retail store manager. Working in a rage of different positions will give you a good understanding of how the store functions across different levels.
There are often recruiters and human resources officers working in retail stores looking for the right person to promote. It's a good idea to always take any training your company offers you. Another good way to help your career along is to study at night, or in your free time, particularly if you do not have a college degree. There are many programs at community college that could help you, and some companies even run their own in-house training programs for those that are interested.
Retail Manager Job Description
When you become a retail store manager you will have a very wide range of duties. Sometimes your role will be hands on, for instance you could be stocking shelves or dealing with a customer. At others you could find yourself spending time at a desk, compiling reports and rosters, and balancing accounts. If you're looking for variety, then this is a good career choice.
Here are some of the common tasks of a retail store manager:
- Recruiting, hiring, and training staff
- Monitoring employee performance
- Supervising contractors, such as security staff
- Ensuring the store is clean
- Monitoring stock levels
- Making sure the store reaches performance goals
- Setting budgets
- Communicating with staff and superiors
It's unlikely that two days will ever be the same working as a store manager. New challenges will always appear, that is part of what makes this job so rewarding. It's important to note that when you become a retail store manager you may need to work some odd hours, including weekends and holidays.
Retail Manager Salary and Career Path
Most retail store managers begin their career in entry level positions, then work they way up to supervisory roles. They are often selected for their drive, leadership, and problem solving ability to be trained as managers. Many undergo post-secondary education which will hasten their progression up the career ladder.
Many move on later to work as sales managers, in advertising or marketing, as board executives, or in a consulting role. Here are some similar jobs to a retail store manager:
- Advertising executive
- Marketing executive
- Chief executive officer
- Sales Manager
- Purchasing Agent
- Administrative service manager
- Food service manager
- Hotel manager
While the salary of a retail store manager can vary quite a lot depending on the type of store they manage, the median salary for a large retail store manager is around $68,000. The top 10% of managers can take home more than $130,000 a year. Most store managers earn a salary, as well as a bonus or commission on top which is based on performance.
If you are look for a role in a challenging and always changing environment, then you might like to become a retail store manager. For those that are ambitious, this is a good chance to hold and executive job that brings in a good salary.
*Salary Information provided by the Bureau Of Labor Statistics