Career Development

What Does a Retail Branch Manager Do?

Find out what a retail branch manager does, how to get this job, and what it takes to succeed as a retail branch manager.

Retail branch managers are responsible for overseeing all aspects of their branch’s operations. They ensure that everything is running smoothly and effectively, from staffing to customer service to sales goals.

Retail branch managers may also be tasked with developing new ways to improve the performance of their branches or the company as a whole. This might include coming up with new strategies to increase sales or find new customers, implementing new technologies to streamline processes, etc.

Retail Branch Manager Job Duties

A retail branch manager typically has a wide range of responsibilities, which can include:

  • Managing employees within the store including hiring, training, and scheduling work shifts
  • Ensuring that managers are complying with company policies and procedures
  • Ensuring that merchandise is attractively displayed and rotated regularly to increase interest from customers
  • Meeting with store managers to discuss performance issues and opportunities for improvement
  • Monitoring store operations to ensure that goals are being met or exceeded
  • Managing a team of employees to ensure that they are performing their jobs efficiently and effectively
  • Conducting training sessions for new hires or existing employees about company policies and products
  • Developing, implementing, and managing an effective marketing plan for the business
  • Ensuring that the store meets its financial goals by tracking sales and using data to make adjustments to increase revenue

Retail Branch Manager Salary & Outlook

Retail branch managers’ salaries vary depending on their level of education, years of experience, and the size and location of the company. They may also earn additional compensation in the form of bonuses and commissions.

  • Median Annual Salary: $62,500 ($30.05/hour)
  • Top 10% Annual Salary: $114,500 ($55.05/hour)

The employment of retail branch managers is expected to decline over the next decade.

Employment growth will be limited by the increasing use of self-service technology, such as ATMs and online banking, which allows customers to conduct some transactions without interacting with a bank employee. In addition, the continued popularity of mobile banking, in which customers can access their bank accounts through smartphone apps, may reduce demand for retail branch managers.

Retail Branch Manager Job Requirements

A retail branch manager typically needs to have the following qualifications:

Education: Retail branch managers typically need at least a high school diploma or equivalent. Some employers prefer an associate or bachelor’s degree in business or a related field. Relevant coursework includes business management, accounting, economics, marketing and sales.

Training & Experience: Retail branch managers typically receive on-the-job training after they are hired. This training may last for a few weeks to a month and may include shadowing other branch managers or store managers, learning the company’s computer systems and processes and meeting with other employees.

Certifications & Licenses: Certifications are not typically required to qualify for a role as a retail branch manager. However, they can increase your competitiveness when applying for roles.

Retail Branch Manager Skills

Retail branch managers need the following skills in order to be successful:

Communication skills: Communication skills are essential for retail branch managers. You use these skills to communicate with customers, employees and other managers. You use communication skills to relay messages to employees and to train them on new processes or procedures. You also use communication skills to communicate with other managers about sales numbers, employee performance and other important business information.

Leadership skills: As a retail branch manager, you may be responsible for managing a team of several employees. Effective leadership skills can help you motivate your team, delegate tasks and encourage growth. Strong leadership skills can also help you develop a team culture, which can help you build trust and collaboration among your employees.

Problem-solving skills: As a retail branch manager, you may be responsible for resolving customer complaints, addressing employee concerns and resolving any issues that may arise during the workday. Problem-solving skills can help you navigate these challenges and find solutions that benefit both you and your team.

Organizational skills: As a retail branch manager, you may be responsible for managing multiple tasks at once. Having strong organizational skills can help you prioritize your tasks and manage your time efficiently. Strong organizational skills can also help you keep track of employee schedules, inventory and sales data.

Customer service: Customer service is the ability to interact with customers in a friendly and helpful manner. As a retail branch manager, you may be responsible for customer service in your branch. This can include greeting customers, answering questions about products and resolving customer complaints. Customer service skills can help you develop a positive reputation for your branch and encourage customers to return.

Retail Branch Manager Work Environment

Retail branch managers typically work in an office environment during regular business hours, although they may be required to work evenings and weekends to accommodate the needs of their customers. They may also travel to meet with clients, attend conferences, or visit other branches of their company. Retail branch managers typically work under a great deal of pressure to meet sales goals and deadlines. They must be able to handle customer complaints and resolve conflicts among employees. They also must be able to motivate their employees to work hard and provide excellent customer service.

Retail Branch Manager Trends

Here are three trends influencing how retail branch managers work. Retail branch managers will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Rise of the Digital Shopper

The rise of the digital shopper is a trend that is quickly changing the retail landscape. As more and more people shop online, retailers are having to adapt their strategies to meet the needs of these customers.

This means that branch managers will need to be familiar with digital marketing techniques and how to optimize their websites for search engines. They will also need to be able to track customer data and understand what makes them tick in order to create a better shopping experience for them.

More Focus on Customer Experience

The retail industry is shifting its focus towards customer experience as a way to differentiate itself from the competition. This means that branch managers will need to focus on creating an environment where customers feel welcome and appreciated.

In order to achieve this goal, branch managers will need to be well-versed in customer service skills and be able to think outside the box when it comes to ideas for improving the customer experience. Additionally, they will need to be able to communicate effectively with other members of the team in order to ensure that everyone is on the same page.

Faster Pace of Change

The pace of change in the retail industry is increasing rapidly. This is due to the fact that consumers are becoming increasingly impatient and want things faster than ever before.

As a result, branch managers will need to be able to adapt quickly to changes in the market. They will also need to be able to manage their staff in a way that allows them to work efficiently while still meeting the demands of the customers.

How to Become a Retail Branch Manager

A career as a retail branch manager can be rewarding in many ways. It offers the opportunity to work with people, manage a team, and grow your business. You’ll also have the chance to learn about different industries and develop new skills.

To become a successful retail branch manager, you need to be able to lead and motivate others, have strong communication skills, and be able to think strategically. You should also be able to handle difficult situations calmly and effectively.

Related: How to Write a Retail Branch Manager Resume

Advancement Prospects

Retail branch managers typically advance by taking on larger branches with more responsibility. As they gain experience, they may also advance by assuming regional or corporate-level positions within their company. In some cases, retail branch managers may also start their own retail business.

Retail Branch Manager Job Description Example

At [CompanyX], we are looking for a Retail Branch Manager who will be responsible for the overall management and profitability of a retail branch. The Retail Branch Manager will be responsible for developing and executing strategies to grow the branch’s customer base and deposits, as well as reducing operating expenses. The Retail Branch Manager will also be responsible for creating a positive work environment that motivates staff to provide excellent customer service.

The ideal candidate for this position will have at least 5 years of experience in retail branch management, as well as a proven track record in achieving goals and objectives. The candidate must also have excellent communication and interpersonal skills, as well as the ability to motivate and lead a team.

Duties & Responsibilities

  • Achieve or exceed sales goals by developing and executing strategies that increase branch traffic and drive new business
  • Create a positive, customer-centric environment by modeling exceptional service standards and holding team accountable to meeting/exceeding those standards
  • Develop strong relationships with customers and the community to promote repeat business and referrals
  • Foster an engaged, productive team by recruiting, training, coaching, and counseling employees on company policies, procedures, products, and services
  • Monitor individual and team performance against established targets, taking corrective action as needed to ensure achievement of goals
  • Manage operational risk within established guidelines, including adherence to security protocols, cash handling procedures, and compliance with regulations
  • Ensure the branch is properly staffed and schedules are created in accordance with business needs while maximizing employee productivity
  • Control expenses by monitoring and approving supply orders, labor hours, and other controllable costs
  • Maintain accurate records of all transactions, activities, and communications in accordance with company policy and procedure
  • Prepare periodic reports on branch performance, activity, and compliance for submission to regional management
  • Serve as primary point of contact for escalated customer complaints, working to resolve issues in a timely and satisfactory manner
  • Perform miscellaneous job-related duties as assigned

Required Skills and Qualifications

  • Bachelor’s degree in business, retail management, or related field
  • 7-10 years of progressive management experience in a retail setting
  • Proven ability to increase sales and profitability
  • Demonstrated leadership and team development skills
  • Excellent communication, interpersonal, and customer service skills
  • Strong organizational, time management, and decision-making skills

Preferred Skills and Qualifications

  • MBA or other advanced degree
  • Experience managing multiple locations
  • P&L responsibility
  • Familiarity with retail point-of-sale (POS) systems
  • Working knowledge of Microsoft Office suite

Similar Jobs

Previous

What Does a Stagehand Do?

Back to Career Development
Next

What Does an Instructional Specialist Do?