Ethnic Grocery Stores in Haugesund: A Detailed Industry Analysis

This article provides a detailed overview of the ethnic grocery store industry in Haugesund, focusing on companies, economic trends, geographic distributions, and future prospects. The data shows a mix of stability and variation, with growth in sales and number of employees over time, but also variations in individual companies' financial health. The article is intended for entrepreneurs, local decision-makers, and others interested in the industry.

Economic Trends

In 2025, the ethnic grocery store industry in Haugesund had total sales of NOK 19.4 million, with an annual growth of +9.4% compared to 2024. The number of employees increased to 18 in 2025, an increase of +63.6% from 2024. This shows a positive dynamic in the industry, even though there have been variations over time. Sales figures have been somewhat more stable than the number of employees, which has shown more volatile development.

Key Observations

• Sales have grown continuously since 2016, with an average annual growth of approximately +3.5%.
• The number of employees has increased by +100% from 2016 to 2025, but with variations due to company formation and declines in certain years.
• The EBITDA margin stands at 8% in 2025, indicating good cost efficiency for operating companies.

Registered Companies

There are 3 companies in the ethnic grocery store industry registered in Haugesund, all with the organizational form AS. They are:

1. Nye Maria Eksotisk Mat As (Haraldsgata 170) – 9 employees, established in 2024, no sales or profit.
2. Vina Import As (Haraldsgata 205) – 5 employees, established in 2011, sales of NOK 19.6 million and profit of NOK 1.6 million.
3. Aya Internasjonal Mat As (Sørhauggata 139) – 1 employee, established in 2022, no sales or profit.

Organizational Form Statistics

All companies in the industry are registered as AS, which suggests a certain degree of formal organization and liability. There are no companies with other organizational forms, such as sole proprietorships or partnerships.

Geographic Distribution

All companies in the ethnic grocery store industry in Haugesund are located in Haugesund. There is no activity registered in other city districts or areas in the municipality. This suggests that the industry is concentrated in the city center or near the city center, which can be an advantage for entrepreneurs seeking to establish themselves in an already established market situation.

Business Areas

There are no specific sub-areas or neighborhoods that stand out as particularly active in the industry, which may indicate that there is no strong regional differentiation in the distribution of companies.

Operational Dynamics and Bankruptcy Statistics

There are no bankruptcy registrations for companies in the ethnic grocery store industry in Haugesund. This is a positive indicator for the industry's stability. However, the data shows that two of the three companies (Nye Maria Eksotisk Mat As and Aya Internasjonal Mat As) have no sales or profit in 2025, which may indicate that they are in an early stage of operations or have experienced challenges.

Operational Results

• Vina Import As has a high profit margin of 8% and an EBITDA margin of 8%, indicating good cost efficiency.
• The other two companies have no profit results, which can be a challenge for entrepreneurs seeking to establish themselves in a competitive market situation.

Future Prospects for Entrepreneurs

The ethnic grocery store industry in Haugesund shows potential for growth, especially with an increase in sales and number of employees over time. This can be a good indicator for entrepreneurs seeking to establish themselves in a market segment that has shown stable development.

Challenges

• Competitiveness: With only three companies in the industry, there is a good opportunity for new players, but it is also important to be competitive in a market segment that already has established companies.
• Profitability: Two of the three companies have no profit results, which may indicate challenges in achieving profitability in the industry.
• Geographic Concentration: All companies are located in Haugesund, which can be an advantage for entrepreneurs seeking to establish themselves in an already established market situation, but also a challenge in finding new market areas.

Comparison with the Broader Services Sector

The ethnic grocery store industry is part of the broader services sector in Haugesund, which has 87 companies and total sales of NOK 1.839 million in 2025. The ethnic grocery store industry has fewer companies (3) compared to the services sector, but a higher EBITDA margin (8% vs. 3.6% for the services sector in 2025).

Peer Companies in the Services Sector

Current peer companies in the services sector in Haugesund include:

These companies have higher sales and more employees than the ethnic grocery store industry, but also higher profit results. This shows that the services sector in Haugesund has a broader variation in company size and profit results.

The ethnic grocery store industry in Haugesund shows potential for growth, especially with an increase in sales and number of employees over time. This can be a good indicator for entrepreneurs seeking to establish themselves in a market segment that has shown stable development. However, it is important to be aware of the challenges, such as competitiveness, profitability, and geographic concentration. SmartGrunder can help entrepreneurs find suitable addresses in Haugesund for this industry, with a focus on natural development opportunities.