The Restaurant Industry in Kvæfjord: Current Situation and Future Outlook

The restaurant industry in Kvæfjord is a small but dynamic sector with three registered companies. One of these, Guldhaugen Drift As, is active with seven employees and a solid economy, while the other two companies (Austerfjorden Børge Jentoftsen and Luna Mat As) are newly established but not yet operational. The industry has experienced both rising and falling trends over the years, with a significant increase in sales from 2024 to 2025 (+25.5%). At the same time, the number of employees in the sector has fallen from 12 in 2016 to 6 in 2026, indicating a consolidation of the business.

Economic Trends

Sales for restaurant operations in Kvæfjord have grown from NOK 4.2 million in 2016 to NOK 6.6 million in 2025, with an average annual growth of about 5%. The most significant increase occurred between 2024 and 2025 (+25.5%). The number of employees, however, has continuously declined since 2017, from 20 to 6 in 2026. This may be due to a combination of increased operating costs, competitive pressure, and a concentration of the business in a few companies.

Key Figures for 2025

• Sales: NOK 6.6 million
• Number of employees: 6
• EBITDA margin: 24% (for Guldhaugen Drift As)
• Average income per employee: NOK 986,400 (for Guldhaugen Drift As)
• Total debt: NOK 2.0 million (for Guldhaugen Drift As)

Registered Companies

The following companies are registered in the restaurant industry in Kvæfjord:

Legal Forms

• AS: 1 company (Guldhaugen Drift As), with 7 employees and NOK 6.7M in sales
• ENK: 2 companies (Austerfjorden Børge Jentoftsen and Luna Mat As), both without employees or sales

Distribution of Operations

All registered restaurant operations in Kvæfjord are concentrated in Gullesfjorden:

• Gullesfjorden: 1 company (Guldhaugen Drift As), 7 employees, NOK 6.7M in sales
• Borkenes: 2 companies (Austerfjorden Børge Jentoftsen and Luna Mat As), no employees or sales

This shows a clear geographic concentration of the business in Gullesfjorden, which is the only area with active restaurant operations in the municipality.

Operational Efficiency and Bankruptcy Statistics

None of the registered companies in the restaurant industry in Kvæfjord are bankrupt, indicating a relatively stable sector. However, data shows that two of the three companies (Austerfjorden Børge Jentoftsen and Luna Mat As) are newly established but not yet operational. This may indicate challenges related to starting up restaurant operations in the municipality, which could be due to:

• High operating costs
• Competitive pressure from Guldhaugen Drift As
• Limitations in the restaurant market in the area

Future Outlook

Data suggests that the restaurant industry in Kvæfjord has growth potential, especially with the increased sales from 2024 to 2025 (+25.5%). However, it is important to note the following development trends:

• Concentration of operations: A large portion of the market share is concentrated in Guldhaugen Drift As, which may create challenges for new players.
• Rising operating costs: Although the EBITDA margin is high (24%), increased operating costs could be a challenge for new companies.
• Geographic limitations: The operations are concentrated in Gullesfjorden, which could be both an advantage and a limitation for development.

For entrepreneurs, it may be profitable to consider establishing themselves in Gullesfjorden, where there is already an operational restaurant, but it is important to plan carefully to compete effectively.

The restaurant industry in Kvæfjord is a small but important sector with growth potential. With a stable economy in Guldhaugen Drift As and a significant increase in sales in 2025, further development may be possible. However, it is important to be aware of the challenges related to competitive pressure, operating costs, and geographic concentration. Entrepreneurs should consider establishing themselves in Gullesfjorden, where there is already an operational restaurant, but it is important to plan carefully to compete effectively.