Cosmetics in Vestvågøy: Current Status and Future Opportunities

The cosmetics industry in Vestvågøy is a small but dynamic sector with two registered companies. In recent years, the industry has shown significant variations in sales and number of employees, with an extremely high sales increase of 2732.4% from 2020 to 2021. At the same time, the number of employees in the industry has decreased from 4 in 2019 to 1 in 2024 before stabilizing. One of the businesses, Katrine Torheim As, has shown strong economic results with an EBITDA margin of 17% and a high sales growth rate of 721%. The industry has potential but must address challenges related to workforce stabilization and business development.

Economic trends

• Sales: The industry experienced an extremely high sales increase of 2732.4% from 2020 to 2021, from NOK 18,700 to NOK 529,600. This is the most striking economic result in the data.
• Employees: The number of employees in the industry has been unstable. There were 3 employees in 2016, but it fell to 0 in 2020 before increasing back to 1 in 2024. There is still 1 employee in 2026.
• EBITDA and margins: The single business, Katrine Torheim As, has an EBITDA margin of 17% and a gross margin of 35%, indicating good economic efficiency.
• Debt and equity: The same business has equity of NOK 119,000 and debt of NOK 51,000, suggesting relatively stable financing.

Registered companies

• Katrine Torheim As (Holsøyveien 51, Leknes)
• Organizational form: AS
• Founded: 2020-08-24
• Number of employees: 1
• Sales: NOK 534,000
• EBITDA: NOK 93,000
• EBITDA margin: 17%
• Lorentzen Herbalife (Tore Hjorts vei 28, Leknes)
• Organizational form: ENK
• Founded: 2018-01-29
• Number of employees: 0
• Sales: NOK 0
• EBITDA: NOK 0

Organizational forms

• AS: 1 company, 1 employee, high economic efficiency.
• ENK: 1 company, 0 employees, no reported economic results.

Distribution of business

• Leknes: The only location with activity in the industry.
• Number of companies: 1
• Number of employees: 1
• Sales: NOK 534,000
• EBITDA: NOK 93,000
• Operating income: NOK 534,000
• Gross profit: NOK 192,000

Leknes is the only location in Vestvågøy with activity in the cosmetics industry. The single company, Katrine Torheim As, is unique in having both economic results and employees.

Dynamics and risk

• Bankruptcies: No bankruptcies registered in the industry in Vestvågøy.
• Stability: One of the businesses (Lorentzen Herbalife) has no employees and no economic results, which may indicate an uncertain business model.
• Development: Large variations in the number of employees and sales over time, with an extremely high sales increase from 2020 to 2021. This may indicate extreme conditions, such as a single large sales transaction.
• Spread: The industry is very small, with only two companies, making it vulnerable to changes in individual businesses.

Outlook for entrepreneurs

• Positive: There is clear economic growth in sales from 2020 to 2021, indicating potential in the industry. Katrine Torheim As has good economic efficiency with high margins.
• Workforce development: There is only 1 employee in the industry in 2026, which could be a challenge for future companies. It is necessary to consider how to attract and retain workforce.
• Geographic focus: Leknes is the only location with activity, which can be both an opportunity and a limitation. It may be beneficial to focus on this area, but it may also mean a limited market.
• Bankruptcies: No bankruptcies registered, indicating that the industry is relatively stable. This can be an advantage for new companies.
• Recommendation: Entrepreneurs should consider focusing on Leknes and using the existing business as a model. At the same time, they should be aware of challenges related to workforce and market size.

The cosmetics industry in Vestvågøy is a small but potentially growth-friendly industry. With an extremely high sales growth from 2020 to 2021 and relatively stable financing at the single business, Katrine Torheim As, there are opportunities for further development. At the same time, there are challenges related to workforce and market size. Entrepreneurs should consider focusing on Leknes and using the existing business as a model, but must also be aware of the challenges posed by a small market size and uncertainty in workforce. SmartGrunder can help find suitable addresses and develop strategies to ensure stability and growth in the industry.