Ethnic Grocery Store in Sunnfjord: Industry Analysis and Outlook

Ethnic grocery stores in Sunnfjord are a niche but growing sector, currently represented by a single company: Best Asia Bazar As in Førde. Despite limited local competition, the industry shows strong revenue growth since 2021, with sales reaching NOK 15.4M in 2025. The company operates with 7 employees and maintains a modest EBITDA margin of 5%. While the sector is small, its performance aligns with broader trends in the services (tjenester) industry, which includes 45 companies in Sunnfjord. Founders considering entry should note the potential for growth, though the sector's scale remains limited.

Sales development (2016–2025):

• 2016: NOK 2.9M
• 2025: NOK 15.4M (+19.8% YoY)

Employee trends:

• 2016: 2 employees
• 2025: 6 employees

The industry has experienced significant volatility in employee numbers, with a sharp decline in 2023 (-37.5% YoY) followed by stabilization. Sales growth accelerated after 2020, driven by a +87.7% increase in 2021. The company's EBITDA margin of 5% is below the average for larger retail chains in the services (tjenester) category but reflects the challenges of operating in a small market. Gross profit margins (32%) and operating income per employee (NOK 2.2M) indicate efficient resource use.

Best Asia Bazar As is the sole ethnic grocery store in Sunnfjord, registered at Storehagen 5, Førde. Key statistics:

• Organization form: AS (2017 founding)
• Employees: 7
• EBITDA: NOK 804.0K
• Total debt: NOK 1.3M
• Revenue growth: 18% YoY

The company's financials suggest a stable but modest operation. No bankruptcies are reported for this entity. The lack of competition in the sector may indicate untapped demand, though the small scale limits economies of scale.

All activity in the ethnic grocery store sector is concentrated in Førde, with 1 company and 7 employees. The city's metrics include:

• Operating income: NOK 15.4M
• Sales revenue: NOK 15.4M
• Gross profit: NOK 5.0M

This geographic concentration may present both opportunities and challenges for new entrants. While Førde is the only viable location, the existing company's presence could signal strong local demand or a saturated niche market.

The sector has shown resilience despite fluctuations:

• Bankruptcies: None reported for the sole company
• Employee volatility: Sharp declines in 2022–2023 (-37.5% YoY) followed by recovery
• Sales dips: 2018–2019 (-21.1% YoY) but strong rebound in 2021 (+87.7% YoY)

The absence of bankruptcies suggests the sector is not highly vulnerable to economic shocks. However, the company's reliance on a single location and limited scale may make it susceptible to local market changes.

Outlook for founders

The ethnic grocery store sector in Sunnfjord offers growth potential for founders, particularly given the 19.8% YoY sales increase in 2025. However, the small market size (1 company) and limited geographic spread (only Førde) mean competition would be minimal but market saturation could occur quickly. The 5% EBITDA margin indicates the need for cost control, while the 32% gross margin suggests strong product pricing power. Founders should consider the sector's alignment with broader services (tjenester) trends, which show stable growth in sales (NOK 945.9M in 2025) despite fluctuations.

Outlook for the overarching industry (services)

The services (tjenester) industry in Sunnfjord includes 45 companies, with sales growing from NOK 826.3M (2016) to NOK 945.9M (2025). Key peer companies in this category include:

• Bravo Matsenter As (supermarket, NOK 76.8M sales)
• Laila Jakobsen As (supermarket chain, NOK 116.5M sales)
• Coop Jølster Sa (supermarket chain, NOK 56.1M sales)

While the ethnic grocery store sector is much smaller, it benefits from the services (tjenester) industry's overall stability. However, competition from larger retail chains in the services (tjenester) category may limit growth potential for new entrants.

The ethnic grocery store sector in Sunnfjord is small but shows clear growth potential, with Best Asia Bazar As dominating the market. Founders should consider the sector's alignment with the broader services (tjenester) industry's stability, though competition from larger retail chains may exist. The geographic concentration in Førde offers both opportunities and risks. SmartGrunder can help founders find suitable addresses in Sunnfjord for this industry, with a focus on development perspectives and local conditions.