Street Food in Time: Industry Analysis and Outlook

Street food in Time is a small but dynamic industry with 3 registered companies. Industry data shows that revenue experienced a sharp increase from 2016 to 2017 (+782.2%), but fell to zero from 2020 onwards. Employment levels have been more stable, with an average of around 10 employees per year. The quick-service food industry group (which includes street food) has better economic development in Time, with revenue exceeding 20 million NOK in 2023.

Critical points:

• Revenue fell to zero from 2020 onwards, despite minor variations in employee numbers.
• The quick-service food industry group had revenue of 20.9 million NOK in 2023, indicating better economic development compared to street food alone.

Registered companies in Time (street food):

1. Ren Chef Chinese Take Away (Vardheivegen 1, Bryne) – ENK, established 2021-07-01, 0 employees.
2. Ren Chef Chinese Take Away (Vardheivegen 1, Bryne) – ENK, established 2021-07-30, 0 employees.

Business structures:

• All 3 companies are ENK (sole proprietorships).
• No companies have reported revenue or operating results in recent years.

Distribution of street food activity in Time:

• Bryne is the only location in the municipality with registered companies in this industry.
• All 3 companies are based in Bryne, particularly in the area around Jupitervegen 2 and Vardheivegen 1.

Recommendation:

• Bryne is a natural location for street food activity in Time, but it may be worth exploring the possibility of expanding to other areas in the municipality.

Bankruptcy safety:

• None of the 3 companies in the industry have gone bankrupt (all are not bankrupt).
• Revenue fell to zero from 2020 onwards, which may indicate economic challenges.

Operating results:

• No companies have reported operating results, revenue, or wage costs in recent years.
• This may indicate that the companies operate at a level where they do not register economic data, or that they are in an early stage of operations.

Outlook for Entrepreneurs

Expectations for the industry:

• Street food in Time has proven to be an unstable industry with revenue falling to zero from 2020 onwards.
• This may be a challenge for new entrepreneurs, but it may also provide opportunities to establish themselves in a newly developed market.

Recommendation:

• Entrepreneurs should consider establishing themselves in Bryne, which is the only location in the municipality with existing street food activity.
• It may be worth exploring opportunities to combine street food with other industry specifications in the quick-service food group, which has better economic development.

Quick-service food industry group in Time:

• Has 7 companies in total, with revenue of 20.9 million NOK in 2023.
• Employment levels have been more stable, with an average of around 35 employees per year.

Peer companies in quick-service food (not street food):

Conclusion:

• The quick-service food group has better economic development compared to street food alone, which may be an important factor for entrepreneurs considering establishing themselves in Time.

Overall assessment:

• Street food in Time is a small but dynamic industry with 3 companies. Industry data shows that revenue experienced a sharp increase from 2016 to 2017, but fell to zero from 2020 onwards.
• The quick-service food industry group has better economic development in Time, with revenue exceeding 20 million NOK in 2023.

Recommendation for entrepreneurs:

• Entrepreneurs should consider establishing themselves in Bryne, which is the only location in the municipality with existing street food activity.
• It may be worth exploring opportunities to combine street food with other industry specifications in the quick-service food group, which has better economic development.

SmartGrunder can help you find suitable addresses in Time for street food activity.