Industry · municipality
Electronics Retail in Vestvågøy: Current Situation and Future Outlook
Analysis of the Sector, Companies, and Opportunities for Entrepreneurs in Vestvågøy
Brief Overview of the Electronics Retail Industry in Vestvågøy
The electronics retail industry in Vestvågøy is a small but active sector with three registered companies. The three companies (Elkjøp Leknes As, Leknes Retail As, and Ballstad Radioservice As) are all located in Leknes, and they represent a combination of traditional and modern business models. Over the past few years, the sector has experienced both growth and decline, with a total sales value of approximately 63.8 million NOK in 2024. The development of the workforce has been more unstable, with a decline from 33 employees in 2021 to 24 employees in 2026. The sector has not experienced bankruptcy, but shows signs of economic challenges, especially after 2021.
Economic Trends and Development
Sales and Employee Development
The electronics retail industry in Vestvågøy has had a complex development in recent years. The sales overview shows an increase from 77.9 million NOK in 2016 to a maximum of 96.6 million NOK in 2020, followed by a sharp decline to 63.8 million NOK in 2024. The workforce development has been more unstable, with an increase from 28 employees in 2016 to 33 employees in 2021, followed by a decline to 24 employees in 2026. This shows that the sector has been affected by both market conditions and internal challenges.
Economic Indicators
The three companies in Vestvågøy have a combination of positive and negative economic indicators. Elkjøp Leknes As has an EBITDA margin of 1%, while Leknes Retail As has a higher EBITDA margin of 11%. Ballstad Radioservice As, however, shows negative figures, with an EBITDA of -18,000 NOK and no employees. This shows that not all companies in the sector have the same level of economic stability.
Companies in the Sector
Registered Companies
The following companies are registered in the electronics retail industry in Vestvågøy:
| Company | Address | Number of Employees | EBITDA | Organizational Form |
|---|---|---|---|---|
| Elkjøp Leknes As | Leknessletta 3, Leknes | 21 | 779,000 NOK | AS |
| Leknes Retail As | Storgata 26, Leknes | 8 | 1.3M NOK | AS |
| Ballstad Radioservice As | Leknessletta 3, Leknes | 0 | -18,000 NOK | AS |
Organizational Forms
All companies in Vestvågøy are registered as AS (Anonyme Selskaper). This is the most common organizational form in the sector, and it indicates that the companies have chosen a structure that provides both liability and flexibility.
Geographic Distribution of Activity
Geographic Distribution
All three companies in the electronics retail industry in Vestvågøy are located in Leknes. This is the only town in the municipality with activity in this sector. Leknes has the following economic indicators for the electronics retail industry:
- Number of companies: 3
- Number of employees: 29
- Sales revenue: 76.3 million NOK
- EBITDA: 2.1 million NOK
- Economic growth: 0%
This shows that Leknes is an important economic hub for the sector, even though the number of companies is limited.
Bankruptcies and Sector Development
Bankruptcies and Dynamics
None of the three companies in Vestvågøy have been bankrupt, which shows a certain degree of economic stability. However, the economic figures show that the sector has experienced challenges, especially after 2021. The sales peak in 2020 (96.6 million NOK) was followed by a sharp decline to 63.8 million NOK in 2024. This may be due to both economic conditions and changes in customer behavior. Although no companies have gone bankrupt, the economic figures show that the sector has been affected by market conditions.
Outlook for Entrepreneurs
Development for Entrepreneurs
For entrepreneurs considering starting a business activity in the electronics retail industry in Vestvågøy, the data show a sector with both opportunities and challenges. This sector has experienced a sharp decline in sales and number of employees after 2021, which can be a challenge. However, it is still possible to establish oneself in Leknes, which is the only town with activity in this sector. Entrepreneurs should consider adapting to market conditions and developing strategies that can provide economic stability, especially in light of the past few years.
Comparison with Agriculture
Agriculture is a broader sector in Vestvågøy with 10 companies, compared to the 3 companies in the electronics retail industry. The sales overview for agriculture shows a more stable development, with a maximum sales value of 105.6 million NOK in 2020, followed by a decline to 75.4 million NOK in 2024. The workforce development for agriculture has been more stable, with an average number of employees of around 35. This shows that agriculture is a more stable sector in Vestvågøy compared to the electronics retail industry.
Peer Companies in Agriculture
Current peer companies in agriculture in Vestvågøy include:
| Company | Address | EBITDA | Number of Employees | Industry |
|---|---|---|---|---|
| Strauman Optikk As | Lekneskroken 9C, 8370 | 1.8M NOK | 6 | Optician Store |
| Synsam Leknes | Storgata 8, 8370 Leknes | 0 NOK | 6 | Optician Store |
These companies show a broader variation in EBITDA and number of employees compared to the electronics retail industry.
Other companies in landbruk (not in electronics store)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Strauman Optikk As | optical store | Lekneskroken 9C, 8370 | NOK 11.9M | 6 | NOK 1.8M |
| Jemm As | optical store | Strandveien 5, 8340 Stamsund | NOK 0 | 0 | NOK 24.0K |
| Marianne Johansen | audio equipment / musical instruments store | Kvalen 15, 8373 Ballstad | NOK 0 | 0 | NOK 0 |
| Polar Pixel As | audio equipment / musical instruments store | Krokbakken 10, 8370 Leknes | NOK 0 | 0 | NOK 0 |
| Sofie Birkenstock Design | audio equipment / musical instruments store | Haugveien 82, 8372 Gravdal | NOK 0 | 0 | NOK 0 |
| Sundman Musikk | audio equipment / musical instruments store | Breidablikk 19, 8370 Leknes | NOK 0 | 0 | NOK 0 |
| Synsam Leknes | optical store | Storgata 8, 8370 Leknes | NOK 0 | 6 | NOK 0 |
Conclusion
The electronics retail industry in Vestvågøy is a small but active sector with three companies. The three companies are located in Leknes and show a combination of positive and negative economic indicators. The sector has experienced both growth and decline in recent years, with a sharp decline in sales after 2021. For entrepreneurs considering starting a business activity in this sector, it is important to consider both the opportunities and challenges. SmartGrunder can help entrepreneurs find suitable addresses in Vestvågøy for this sector, with a focus on natural conditions and economic opportunities.