Footwear Store Industry in Kinn: A Comprehensive Analysis

Industry Overview

The footwear store industry in Kinn is a small but dynamic sector with two registered companies. In recent years, the industry has been marked by both rising and falling trends, with a significant decline in the number of employees and sales revenue from 2020 to 2022. However, data from 2025 shows an increase in both sales and the number of employees, which may indicate a gradual upturn in the sector.

Key Figures

• Number of companies: 2
• Number of employees (2025): 6
• Annual revenue (2025): NOK 7.5 million
• EBITDA margin: 5% (for Euro Sko Florø)
• Gross profit margin: 470% (for Euro Sko Florø)

The industry has a relatively high average profit margin compared to other sectors, but there are significant variations between the companies.

Sales and Employee Development

Sales development (2016–2025):

• 2016: NOK 7.0 million
• 2017: NOK 6.6 million
• 2018: NOK 10.1 million (peak)
• 2022: NOK 4.5 million (low)
• 2025: NOK 7.5 million (upturn)

Employee development (2016–2025):

• 2016: 18 employees
• 2022: 7 employees
• 2025: 6 employees

Sales rose sharply from 2017 to 2018 (+52.8%), but fell by 34.0% from 2021 to 2022. There is a positive development from 2024 to 2025 (+42.1%), which may indicate a gradual revival of the sector.

Yearly change in the number of employees:

• 2021→2022: -41.7% (largest decline)
• 2024→2025: +20.0% (largest increase)

Registered companies in Kinn (2025):

1. Euro Sko Florø (Hestenesgata 4, Florø)

• Legal form: AS
• Founded: 1965
• Number of employees: 5
• Sales: NOK 7.7 million
• EBITDA: NOK 425,400
• EBITDA margin: 5%
• Total equity: NOK 1.1 million
• Total debt: NOK 4.1 million

1. Beso Holding As (Strandgata 48, Florø)

• Legal form: AS
• Founded: 2006
• Number of employees: 0
• Sales: NOK 0
• EBITDA: NOK -340,000
• EBITDA margin: -971%
• Total equity: NOK -987,000
• Total debt: NOK 1.1 million

Legal form statistics:

• AS: 1 company (Euro Sko Florø)
• Number of employees in AS companies: 5

Location of activity in the municipality (2025):

• Florø: 1 company (Euro Sko Florø)
• Number of employees: 5
• Sales: NOK 7.7 million
• Operating revenues: NOK 7.7 million
• EBITDA: NOK 425,400
• EBITDA margin: 5%
• Average revenue per employee: NOK 1.2 million

Florø is the only city in Kinn with activity in the footwear store industry. There is a clear concentration of activity in this city, which may indicate that Florø is an important commercial platform in the municipality.

Bankruptcies and financial challenges:

• Beso Holding As has a negative EBITDA of NOK -340,000 and total debt of NOK 1.1 million. This indicates that the company has been under financial pressure in recent years.
• Euro Sko Florø has a positive EBITDA of NOK 425,400 and a high average revenue per employee (NOK 1.2 million), which shows a relatively stable business model.

Bankruptcies in the industry (2025):

• Beso Holding As is not declared bankrupt, but has a negative EBITDA and high debt. This may be a warning signal for potential financial challenges in the future.
• Euro Sko Florø has no bankruptcies and shows stable financing with high equity (NOK 1.1 million) and low debt (NOK 4.1 million).

Outlook for Entrepreneurs

Conclusion from data:

The footwear store industry in Kinn has been marked by large variations in sales and number of employees in recent years. However, data from 2025 shows a positive development with increased sales (+42.1%) and number of employees (+20.0%) compared to 2024. This may indicate that the sector is experiencing a gradual revival.

For entrepreneurs:

• Opportunities: There is an opportunity to establish oneself in Florø, which is the only city with activity in the industry. It may be advantageous to utilize existing infrastructure and customer bases.
• Challenges: The industry has been marked by financial challenges, especially for companies like Beso Holding As. Entrepreneurs should be aware of financial risks and ensure stable financing.
• Trend: There is a positive trend in sales and number of employees from 2024 to 2025, which may indicate increasing demand for footwear stores in the municipality.

Contrast between industries:

• Creative, arts, and entertainment activities have 26 companies in Kinn, while the footwear store industry has only 2 companies. This shows that the creative sector is much larger and more diversified.
• Sales in the creative sector (2025): NOK 104.6 million (larger than the footwear store industry)
• Number of employees in the creative sector (2025): 79 (fewer than the footwear store industry in 2025, but higher earlier)

Peer companies in the creative sector:

Conclusion: Creative, arts, and entertainment activities have a larger market share and more companies in Kinn compared to the footwear store industry. However, the footwear store industry shows a positive development in 2025, which may indicate potential growth opportunities in the future.

The footwear store industry in Kinn is a small but dynamic sector with two registered companies. In recent years, the industry has been marked by both rising and falling trends, but there is a positive development from 2024 to 2025. Entrepreneurs should be aware of financial challenges, but there are opportunities to establish oneself in Florø, which is the only city with activity in the industry. SmartGrunder can help entrepreneurs find suitable addresses in Kinn for this industry, based on natural conditions and market prospects.