Footwear Store Industry in Elverum: Current Status and Outlook

Industry Overview

The footwear store industry in Elverum is a small but stable sector with three registered companies. In recent years, the number of employees has grown from 10 in 2022 to 14 in 2026, despite sales declining since 2016. The two most well-known companies, Euro Sko Amfi Elverum and Euro Sko Kremmertorget Elverum, have been operational since 2016 and 2002, respectively. Éndre As, a new company established in 2023, still has no employees. The industry shows signs of gradual stabilization, but lacks detailed sales data to provide a complete economic assessment.

Sales Development: Sales for footwear store companies in Elverum have been sharply declining since 2016, from NOK 19.5 million to NOK 4.9 million in 2021. There is no sales data available after 2021, making it difficult to assess the current economic health.

Employee Development: The number of employees has increased from 10 in 2022 to 14 in 2026, with a rise of 16.7% from 2023 to 2024. This indicates a gradual stabilization in the labor market for the industry, despite significant year-to-year fluctuations.

Missing Data: There is no detailed economic data (such as EBITDA, operating profit, or gross profit) available for companies in the sector, limiting the possibility of a deeper economic analysis.

Elverum has three registered companies within the footwear store sector:

Legal Forms: All companies are registered as AS (limited liability company), which is common for small and medium-sized businesses in Norway. No companies are registered as sole proprietorships or other legal forms.

Footwear store activity in Elverum is concentrated in two main areas:

1. Elverum Center (Torggata 3 and Kremmertorget):

• Euro Sko Amfi Elverum and Euro Sko Kremmertorget Elverum operate here, with access to central business locations and high traffic.

1. Nils Gotlands veg 9:

• Éndre As, the newest company, has its location address here. This area is less central but may offer potential advantages in the form of lower rent prices.

Number of Employees per District:

• Elverum (center): 14 employees
• Nils Gotlands veg 9: 0 employees (Éndre As has no employees yet)

Bankruptcies and Stability: None of the three companies in the sector are registered as bankrupt, indicating a stable industry. The Euro Sko companies have been operational for 18 and 22 years, respectively, suggesting good management.

Development Trends:

• Euro Sko Amfi Elverum: Has been in operation since 2016, with 7 employees.
• Euro Sko Kremmertorget Elverum: Has been in operation since 2002, with 7 employees.
• Éndre As: A new company established in 2023, but with no employees.

Missing Economic Data: There is no detailed economic data (such as operating profit, EBITDA, or gross profit) available for the companies, limiting the possibility of a deeper analysis of profitability.

Outlook for Entrepreneurs

Opportunities:

• Stable Market: There are three companies in the sector, indicating a gradual stabilization in the industry.
• Employee Growth: The number of employees has increased from 10 in 2022 to 14 in 2026, which may indicate growing demand for services in the sector.
• Location Potential: Elverum has two main locations for footwear store companies, offering entrepreneurs opportunities to establish themselves in central business areas.

Challenges:

• Missing Sales Data: No detailed sales data is available after 2021, making it difficult to assess the current market size.
• Competitiveness: There are two established companies in the sector, which may make it challenging to establish oneself as a new player.

Broader industry2 category: Creative, arts, and entertainment activities are a larger industry in Elverum with 39 companies, compared to the three companies in the footwear store sector. This category has higher sales (NOK 172.9 million in 2016) and more employees (215 in 2016) than the footwear store sector.

Peer companies in creative, arts, and entertainment activities:

Contrast with the footwear store sector:

• Sales: Creative, arts, and entertainment activities have higher sales (NOK 172.9M in 2016) compared to the footwear store sector (NOK 19.5M in 2016).
• Employees: Creative, arts, and entertainment activities have more employees (215 in 2016) compared to the footwear store sector (28 in 2016).
• EBITDA: Peer companies in creative, arts, and entertainment activities have higher EBITDA than footwear store companies (no EBITDA data available for footwear store companies).

The footwear store sector in Elverum is a small but stable industry with three companies and 14 employees. In recent years, the number of employees has grown, despite declining sales. There are no bankruptcy registrations, indicating a stable industry. Entrepreneurs should consider opportunities in Elverum, with particular focus on central locations and potential collaborations with existing companies. SmartGrunder can help entrepreneurs find suitable locations and assess market prospects in Elverum.