Industry · municipality
Ethnic Grocery Stores in Midt Telemark: Current Status and Future Prospects
An analytical overview of the industry, companies, and development
Executive Summary
Industry Overview
Ethnic grocery stores in Midt Telemark form a small but dynamic industry with a single business registered in the municipality. The only business, Bø Asiamat As, has been part of the municipality's economic landscape since 2016, but has now gone bankrupt. Despite this challenge, the industry has shown growth in sales and employees over time, indicating potential opportunities for future entrepreneurs. The broad services sector in the municipality, which includes hundreds of companies, provides a framework for evaluating where ethnic grocery stores stand in relation to other services.
Economic Trends
Sales and employees in the industry:
- Sales: From 0 NOK in 2016 to 5.2 million NOK in 2024, with a growth of 55.7% in 2024. This is a significant increase after a decline in 2022, but there is still a single business driving the industry.
- Employees: From 0 in 2016 to 5 in 2025, with stable growth after 2020. The only business had 2 employees in 2023 and 4 in 2024, showing gradual development.
Bankruptcy and financial challenges:
- Bø Asiamat As has been part of the municipality since 2016, but has now gone bankrupt. Although the business had an operating income of 5.3 million NOK in 2024, it had negative equity of -431,000 NOK and debt of 752,000 NOK. This shows that the industry has faced financial challenges, despite growth in sales.
Conclusion: The industry has shown growth in sales and employees, but the single business has faced bankruptcy, which could be a warning for future entrepreneurs.
Companies in the Industry
Bø Asiamat As is the only business in the industry registered in Midt Telemark. It was founded in 2016 and had the following organizational details:
- Organizational form: AS
- Number of employees: 0 (in 2024)
- Bankruptcies: Yes, the business is now bankrupt
- Address: Stasjonsvegen 20, Bø I Telemark
- Sales: 5.2 million NOK in 2024
- EBITDA: 491,000 NOK in 2024
- Debt: 752,000 NOK
- Equity: -431,000 NOK
Conclusion: Bø Asiamat As has been a single business in the industry, but has faced financial challenges. This could be a warning for future entrepreneurs that the industry can be risky, even though there are potential opportunities for growth.
Business Geography
Bø I Telemark is the only town in Midt Telemark where a business in the industry is registered. The only business, Bø Asiamat As, has its headquarters at Stasjonsvegen 20 in Bø I Telemark. This shows that the industry is concentrated in a single town, which could be a challenge for future entrepreneurs looking to expand to other areas in the municipality.
Development opportunities: Although the industry is concentrated in Bø I Telemark, there may be opportunities to develop in other towns in the municipality, especially if there is an increasing demand for ethnic food products in other areas.
Business Dynamics
Bankruptcy and financial challenges:
- Bø Asiamat As has gone bankrupt, showing that the industry can be vulnerable to financial challenges. Although the business had an operating income of 5.3 million NOK in 2024, it had negative equity of -431,000 NOK and debt of 752,000 NOK. This shows that the industry has faced financial challenges, despite growth in sales.
Sales development:
- 2020: 3.4 million NOK
- 2021: 3.6 million NOK
- 2022: 2.6 million NOK
- 2023: 3.3 million NOK
- 2024: 5.2 million NOK
Conclusion: The industry has shown growth in sales over time, but the individual business has faced bankruptcy. This could be a warning for future entrepreneurs that the industry can be risky, even though there are potential opportunities for growth.
Outlook for Future Entrepreneurs
Growth in sales and employees:
- Sales: The industry has shown growth in sales from 0 NOK in 2016 to 5.2 million NOK in 2024, with a growth of 55.7% in 2024. This shows that there may be potential opportunities for growth in the industry.
- Employees: The number of employees has increased from 0 in 2016 to 5 in 2025, with stable growth after 2020. This shows that the industry can be a good opportunity for future entrepreneurs looking to develop.
Bankruptcy and financial challenges:
- Bø Asiamat As has gone bankrupt, showing that the industry can be vulnerable to financial challenges. Although the business had an operating income of 5.3 million NOK in 2024, it had negative equity of -431,000 NOK and debt of 752,000 NOK. This shows that the industry has faced financial challenges, despite growth in sales.
Conclusion: The industry has shown growth in sales and employees, but the individual business has faced bankruptcy. This could be a warning for future entrepreneurs that the industry can be risky, even though there are potential opportunities for growth.
Outlook for the Services Sector
The services sector in Midt Telemark is a much larger sector than the industry for ethnic grocery stores. The services sector has 19 companies in the municipality, while the industry for ethnic grocery stores has only 1 company. This shows that the services sector is much larger and more diversified than the industry for ethnic grocery stores.
Sales and employees in the services sector:
- Sales: From 95 million NOK in 2016 to 465.9 million NOK in 2025, with a growth of -3.3% in 2025. This shows that the services sector has been more stable than the industry for ethnic grocery stores.
- Employees: From 41 employees in 2016 to 183 employees in 2025, with a growth of -1.1% in 2025. This shows that the services sector has been more stable than the industry for ethnic grocery stores.
Conclusion: The services sector in Midt Telemark is much larger and more stable than the industry for ethnic grocery stores. This shows that the services sector can be a better opportunity for future entrepreneurs looking to develop in the municipality.
Other companies in tjenester (not in ethnic grocery store)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Ng Kiwi Vestfold Telemark As Avd 564 Bø | supermarket | Hellandvegen 15, 3800 Bø I Telemark | NOK 130.8M | 31 | NOK 6.6M |
| Ng Kiwi Vestfold Telemark As Avd 426 Gvarv | supermarket | Gamlegata 56, 3810 Gvarv | NOK 103.9M | 21 | NOK 5.3M |
| Fimex As | other non-specialised store | Hørtevegen 2, 3810 Gvarv | NOK 27.1M | 2 | NOK 3.9M |
| Meny Bø | supermarket chain | Stasjonsvegen 28, 3800 Bø I Telemark | NOK 114.3M | 39 | NOK 3.3M |
| Normal Norge As Avd No1084 Bø I Telemark Bøsenteret | discount store | Stasjonsvegen 28, 3800 Bø I Telemark | NOK 19.2M | 15 | NOK 2.2M |
| Coop Sørøst Sa Avd 1192 Coop Prix Gvarv | supermarket chain | Gvarvgata 41, 3810 | NOK 37.4M | 9 | NOK 1.7M |
| Extra Bø Avd 4285 | supermarket | Folkestadvegen 1, 3800 Bø I Telemark | NOK 52.4M | 24 | NOK 980.0K |
| Nordagutu Butikkdrift As | supermarket | Nordagutuvegen 662, 3820 | NOK 12.9M | 8 | NOK 967.0K |
| Nordagutu Butikkeiendom As | supermarket | Nordagutuvegen 662A, 3820 | NOK 646.0K | 0 | NOK 539.0K |
| Bergland Helsekost As | food/beverages/tobacco stores | Stasjonsvegen 28, 3800 Bø I Telemark | NOK 0 | 4 | NOK 0 |
| Birte Hindrum As | supermarket chain | Bøgata 55A, 3800 Bø I Telemark | NOK 0 | 20 | NOK 0 |
| Bø Asiamat As Konkursbo | food/beverages/tobacco stores | Stasjonsvegen 20, 3800 Bø I Telemark | NOK 0 | 0 | NOK 0 |
| Dobe Dagligvare As | supermarket | Midtre Borgvin 16, 3801 Bø I Telemark | NOK 0 | 7 | NOK 0 |
| Lien Gård As | food/beverages/tobacco stores | Liagrendvegen 262, 3812 Akkerhaugen | NOK 0 | 0 | NOK 0 |
| Lien Gård As | food/beverages/tobacco stores | Liagrendvegen 262, 3812 Akkerhaugen | NOK 0 | 0 | NOK 0 |
| Lindheim Torstein | fruit/vegetables stores | Tinghaugvegen 92, 3810 Gvarv | NOK 0 | 0 | NOK 0 |
| Rune Digranes Bøen As | supermarket | Lundevegen 11, 3800 Bø I Telemark | NOK 0 | 20 | NOK 0 |
| Vinmonopolet As Butikk Bø | alcohol store | Stasjonsvegen 28, 3800 Bø I Telemark | NOK 56.0M | 8 | NOK -753.0K |
Conclusion
The industry for ethnic grocery stores in Midt Telemark has shown growth in sales and employees over time, but the individual business has faced bankruptcy. This shows that the industry can be risky, even though there are potential opportunities for growth. The services sector in the municipality is much larger and more stable, which can be a better opportunity for future entrepreneurs. SmartGrunder can help entrepreneurs find suitable addresses in the municipality to start a new business in the industry, and can also provide advice on how to avoid the financial challenges that have been present in the industry.