Industry · municipality
Ethnic Grocery Store in Vågan
An Industry Overview with Economic and Business Insights
Executive Summary
Industry Overview
Ethnic grocery store in Vågan is a small but growing industry with a single company, Svolvær Asia Butikk As, operating in the municipality. The company has shown stable growth in sales and employees over the past few years, with a sales increase of 9% from 2024 to 2025 and an increase from 1 to 4 employees from 2017 to 2026. The industry is primarily local, with activity concentrated in Svolvær, and has a positive economic development with high margins (40% gross profit and 3% EBITDA margin).
Parent industry comparison
The industry belongs to the broader category services, which has been more dynamic with 27 companies in the municipality compared to one in ethnic grocery store. The broader category has higher sales (NOK 646.3 million in 2025) and employees (258 in 2026), but ethnic grocery store has a higher EBITDA margin (3%) than many of its peer companies in services.
Økonomisk oversikt
Sales and employee development:
- Sales: Ethnic grocery store in Vågan had total sales of NOK 2.7 million in 2025, with an annual growth of +9.6% from 2024. Sales grew by +24.4% from 2022 to 2023 and +19.4% from 2023 to 2024.
- Employees: The number of employees in the industry increased from 1 in 2017 to 4 in 2026, with a significant increase of +200% from 2023 to 2024 and +33.3% from 2024 to 2025.
Key financial figures:
- EBITDA: NOK 96,000 in 2025, with a margin of 3%.
- Gross profit: NOK 1.1 million in 2025, with a margin of 40%.
- Operating profit: NOK 91,000 in 2025, with a margin of 3%.
Conclusion: The industry has shown stable economic development with high margins and growth in both sales and employees over the past few years.
Selskaper i bransjen
Svolvær Asia Butikk As is the only company in the industry in Vågan. It was founded in 2015 and has the following details:
- Address: Roald Amundsens gate 19, Svolvær
- Organisation form: AS
- Number of employees: 4
- Sales: NOK 2.7 million in 2025
- EBITDA: NOK 96,000 in 2025
- Gross profit: NOK 1.1 million in 2025
- Total equity: NOK 182,000
- Total debt: NOK 230,000
Organisation form statistics:
- AS: 1 company, 4 employees, NOK 2.7 million in sales, NOK 96,000 in EBITDA, 40% gross profit.
Conclusion: The company has a stable financial position with high margins and growing sales. It is a single actor in the industry, but with good financial health.
Forretningsgeografi
Svolvær is the only city in Vågan with activity in the industry. There is 1 company and 4 employees in the city. Key financial figures for Svolvær:
- Operating income: NOK 2.7 million
- Sales: NOK 2.7 million
- Wages: NOK 758,000
- Operating profit: NOK 91,000
- EBITDA: NOK 96,000
- Gross profit: NOK 1.1 million
- Total equity: NOK 182,000
- Total debt: NOK 230,000
- Sales growth: 9%
- EBITDA margin: 3%
- Gross profit margin: 40%
- Operating profit margin: 3%
Conclusion: Svolvær is an important city for the industry, with a single company that has shown stable economic development and high margins.
Forretningsdynamikk
Bankruptcies and operational risk:
- Bankruptcies: There are no bankruptcies registered in the industry in Vågan from 2016 to 2026.
- Operational risk: The industry has shown stable development with no bankruptcies and high margins (40% gross profit and 3% EBITDA margin). This indicates that the industry is relatively stable and has good financial health.
Growth and development:
- Sales: Sales have grown by +9.6% from 2024 to 2025, with a significant increase of +24.4% from 2022 to 2023.
- Employees: The number of employees has increased from 1 in 2017 to 4 in 2026, with a significant increase of +200% from 2023 to 2024.
Conclusion: The industry has shown stable growth and no bankruptcies, which indicates that it is relatively stable and has good financial health.
Utsikt
Outlook for entrepreneurs
Growth and opportunities:
- Sales: The industry has shown stable growth in sales with +9.6% from 2024 to 2025 and +24.4% from 2022 to 2023.
- Employees: The number of employees has increased from 1 in 2017 to 4 in 2026, with a significant increase of +200% from 2023 to 2024.
- Margins: The industry has high margins (40% gross profit and 3% EBITDA margin), which indicates that it is possible to achieve good financial results.
Outlook for new companies:
- Competitiveness: There is one company actor in the industry, which indicates that it may be possible to establish oneself in the municipality.
- Stable market: The industry has shown stable development with no bankruptcies and high margins, which indicates that it is a stable market for new companies.
Conclusion: The industry has good financial health and growth, which indicates that it may be possible to establish oneself in the municipality. However, it is important to be aware of the competition and market development.
Utsikt for parent-industri
Services is the broader category that the industry belongs to. It has been more dynamic than ethnic grocery store with the following key figures:
- Sales: NOK 646.3 million in 2025, with an annual growth of +13.1% from 2024 to 2025.
- Employees: 258 employees in 2026, with an annual growth of +2.8% from 2025 to 2026.
Peer companies in services:
| Name | Address | Sales | EBITDA | Number of employees | Industry |
|---|---|---|---|---|---|
| Extra Svolvær 1892 | Lofotgata 33, 8300 Svolvær | NOK 71.2 million | NOK 3.9 million | 20 | Supermarket chain |
| Extra Kabelvåg 1888 | Torggata 23, 8310 Kabelvåg | NOK 52.2 million | NOK 2.9 million | 22 | Supermarket chain |
| Ng Kiwi Nord As Avd 177 Svolvær Sentrum | Lofotgata 52, 8300 Svolvær | NOK 103.7 million | NOK 2.7 million | 28 | Supermarket |
Conclusion: Services has higher sales and employees than ethnic grocery store, but the industry has a higher EBITDA margin (3%) than many of its peer companies. It may be possible to establish oneself in the municipality, but it is important to be aware of the competition and market development.
Other companies in tjenester (not in ethnic grocery store)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Extra Svolvær 1892 | supermarket chain | Lofotgata 33, 8300 Svolvær | NOK 71.2M | 20 | NOK 3.9M |
| Extra Kabelvåg 1888 | supermarket chain | Torggata 23, 8310 Kabelvåg | NOK 52.2M | 22 | NOK 2.9M |
| Ng Kiwi Nord As Avd 177 Svolvær Sentrum | supermarket | Lofotgata 52, 8300 Svolvær | NOK 103.7M | 28 | NOK 2.7M |
| Ng Kiwi Nord As Avd 155 Osan Svolvær | supermarket | Måseveien 1, 8300 Svolvær | NOK 98.7M | 27 | NOK 2.6M |
| Storøya Handel As | supermarket chain | Storøyveien 74, 8300 Svolvær | NOK 34.0M | 15 | NOK 2.5M |
| Normal Norge As Avd No1148 Svolvær Alti Svolvær | discount store | Lofotgata 33, 8300 Svolvær | NOK 19.2M | 14 | NOK 2.2M |
| Clas Ohlson As Avd Amfi Svolvær | other non-specialised store | Amfi Svolvær|Lofotgata 33, 8300 | NOK 37.6M | 15 | NOK 1.9M |
| Axel Jacobsen Maskinforretning As | other non-specialised store | Vestfjordgata 68, 8300 Svolvær | NOK 16.3M | 4 | NOK 1.8M |
| Leif Johansen & Co As | supermarket | Dreyers gate 59, 8312 Henningsvær | NOK 22.4M | 19 | NOK 990.0K |
| Joh Malnes Handleri As | supermarket | Dreyers gate 2, 8312 Henningsvær | NOK 9.3M | 9 | NOK 969.0K |
| Jg Hansen As | supermarket | REMA 1000 Svolvær|Valgata 10, 8300 | NOK 115.1M | 28 | NOK 692.0K |
| Kiosken E Jensen Geir Bjørnar Jensen | supermarket | c/o Geir Bjørnar Jensen|Torggata 6, 8310 Kabelvåg | NOK 5.9M | 0 | NOK 519.0K |
| Snarkjøp Digermulen As | supermarket | Fergeleiet, 8324 Digermulen | NOK 9.9M | 6 | NOK 490.0K |
| Marked Skrova 2464 | supermarket chain | Været 7, 8320 Skrova | NOK 4.7M | 4 | NOK 260.7K |
| Gimsøy Landhandel Lofoten As | supermarket | Statsveien 676, 8314 Gimsøysand | NOK 6.4M | 5 | NOK 185.0K |
| Laukvik Butikkdrift As | supermarket | Laukvikveien 22, 8315 | NOK 7.3M | 7 | NOK 36.0K |
| 8313 Strauman As | supermarket | Brennaveien 839, 8313 Kleppstad | NOK 0 | 0 | NOK 0 |
| Henningsvær Sjømat As | fish store | Dreyers gate 45, 8312 Henningsvær | NOK 0 | 6 | NOK 0 |
| Kioskdrift Alexander Fredriksen As | kiosk chain | Vestfjordgata 1, 8300 Svolvær | NOK 0 | 4 | NOK 0 |
| Kleppstad Nærkjøp Da | supermarket | Kleppstad, 8313 | NOK 0 | 0 | NOK 0 |
| Nettbutikk Tuziene | other non-specialised store | Ringveien 18, 8310 Kabelvåg | NOK 0 | 0 | NOK 0 |
| Orient Butikk Svolvær As | supermarket | Sivert Nilsens gate 48, 8300 Svolvær | NOK 0 | 0 | NOK 0 |
| Svolvær Dagligvarer As | supermarket | Sivert Nilsens gate 31, 8300 Svolvær | NOK 0 | 21 | NOK 0 |
| Vita Avd 1812 | discount store | Lofotgata 33, 8300 Svolvær | NOK 0 | 4 | NOK 0 |
| Lillekiosken As | gourmet food store | Dreyers gate 5, 8312 Henningsvær | NOK 767.0K | 1 | NOK -5.0K |
| Vinmonopolet As Butikk Svolvær | alcohol store | Lofotgata 33, 8300 Svolvær | NOK 37.4M | 9 | NOK -502.0K |
Konklusjon
The ethnic grocery store industry in Vågan has shown stable growth and high margins over the past few years. There is one company actor in the industry, Svolvær Asia Butikk As, which has shown good financial health with high margins (40% gross profit and 3% EBITDA margin). The industry is primarily local, with activity concentrated in Svolvær, and has shown stable development with no bankruptcies.
Outlook for entrepreneurs: It may be possible to establish oneself in the municipality, but it is important to be aware of the competition and market development. The industry has good financial health and growth, which indicates that it may be possible to establish oneself in the municipality. SmartGrunder can help entrepreneurs find suitable addresses in the municipality for this industry.