Street Food in Vågan: An Analysis of the Industry, Companies, and Outlook

Overview of the Industry

The street food industry in Vågan is a small, dispersed sector with only one registered company. The only active business in the area is Pattareeya's Thai Food Truck, operating from Torggata 8B in Kabelvåg. The industry has shown instability over time, with a very low number of employees and periodic sales declines. This highlights the need for a thorough analysis of both the market and operational conditions to identify potential areas for improvement and development opportunities.

Key Figures and Trends

• Sales: The only year with recorded sales was 2017, with a value of 347,400 NOK. Sales have been zero from 2018 onward.
• Employees: The number of employees has varied between 0 and 1 over the past years, with a significant decline in 2018 and 2019.
• Operating Result: No operating results have been reported for the period, indicating that the company has been in a phase of economic uncertainty or has been operating at a level that does not generate positive results.

Challenges and Opportunities

The industry faces challenges related to competitiveness, operational economics, and customer reviews. At the same time, there may be opportunities to develop unique culinary offerings that attract tourists and local customers. SmartGrunder can help entrepreneurs find suitable addresses in Vågan for this industry, based on natural conditions and market potential.

The street food industry in Vågan has proven to be economically very unstable. Sales figures have been extremely low, with a single reported value of 347,400 NOK in 2017. From 2018 onward, sales have been zero, indicating that the company has been in a phase of economic uncertainty or has been operating at a level that does not generate positive results.

The number of employees has varied between 0 and 1 over the past years, with a significant decline in 2018 and 2019. This underscores the industry's unstable operational conditions and lack of capacity to maintain a stable workforce.

Annual Development

Economic Trends

• Sales: A sharp decline of 100% from 2017 to 2018, followed by zero sales until 2023.
• Employees: A sharp decline of 100% from 2017 to 2018, with stabilization from 2022 onward.

There is 1 company registered in the street food industry in Vågan. The only company is Pattareeya's Thai Food Truck, operating from Torggata 8B in Kabelvåg. The company has the following details:

• Business Structure: ENK (Sole Proprietorship)
• Established: November 20, 2013
• Number of Employees: 0
• Bankruptcies: No bankruptcies
• Postal Code: 8320
• Municipality: Vågan
• County: Nordland
• Operating Income: 0 NOK
• Sales Income: 0 NOK
• Wages: 0 NOK
• Operating Result: 0 NOK
• EBITDA: 0 NOK
• Gross Profit: 0 NOK
• Equity: 0 NOK
• Debt: 0 NOK
• Income Growth: 0%
• EBITDA Margin: 0%
• Operating Result per Employee: 0 NOK
• EBITDA per Employee: 0 NOK

Business Structures

• ENK (Sole Proprietorship): 1 company

Summary

The industry is dominated by one company, which has been in operation since 2013. The company has not reported any economic results over time, indicating that it has been in a phase of economic uncertainty or has been operating at a level that does not generate positive results.

The street food industry in Vågan is spread across the municipality, but the only registered company operates in Kabelvåg. This is an important district in Vågan, known for its tourist attractions and cultural activities. Kabelvåg is a natural place for street food businesses due to its position as a tourist destination and its population.

Favorable Locations

• Kabelvåg: An important district with tourist attractions and cultural activities.
• Torggata 8B: Specific address for Pattareeya's Thai Food Truck.

Challenges

The industry has not utilized its potential geographical advantage in Vågan, which can be a challenge for future entrepreneurs. It is important to identify other potential locations in the municipality that can attract both local and tourist customers.

The street food industry in Vågan has proven to be unstable over time, with a very low number of employees and periodic sales declines. There are no reported bankruptcies in the industry, indicating that businesses have been able to avoid bankruptcy. This may be due to a combination of economic conditions and a good operational strategy.

Operational Results

• Sales: A sharp decline of 100% from 2017 to 2018, followed by zero sales until 2023.
• Employees: A sharp decline of 100% from 2017 to 2018, with stabilization from 2022 onward.

Challenges

The industry has proven to be unstable over time, with a very low number of employees and periodic sales declines. This underscores the need for a thorough analysis of both the market and operational conditions to identify potential areas for improvement and development opportunities.

Outlook for Entrepreneurs

For entrepreneurs considering starting a business in the street food industry in Vågan, it is important to be aware of both the opportunities and challenges. The industry has proven to be unstable over time, with a very low number of employees and periodic sales declines. This underscores the need for a thorough analysis of both the market and operational conditions to identify potential areas for improvement and development opportunities.

Opportunities

• Tourist Destination: Vågan is a popular tourist destination, which can provide opportunities to attract both local and tourist customers.
• Unique Culinary Offerings: It is possible to develop unique culinary offerings that stand out from competitors.
• Support from the Municipality: The municipality can provide support to entrepreneurs through various programs and initiatives.

Challenges

• Economic Uncertainty: The industry has proven to be unstable over time, with a very low number of employees and periodic sales declines.
• Competition: There are competing businesses in the area, which can be a challenge for new entrepreneurs.
• Operational Economics: It is important to ensure good operational economics to avoid economic problems.

The street food industry in Vågan is a small, dispersed sector with only one registered company. The industry has proven to be unstable over time, with a very low number of employees and periodic sales declines. This underscores the need for a thorough analysis of both the market and operational conditions to identify potential areas for improvement and development opportunities.

For entrepreneurs considering starting a business in this industry, it is important to be aware of both the opportunities and challenges. Vågan has potential as a tourist destination, which can provide opportunities to attract both local and tourist customers. At the same time, it is important to ensure good operational economics and unique culinary offerings to compete effectively in the market.

SmartGrunder can help entrepreneurs find suitable addresses in Vågan for this industry, based on natural conditions and market potential.