Footwear Store Industry in Vestvågøy: A Comprehensive Analysis

Industry Overview

The footwear store industry in Vestvågøy is a small but dynamic sector with two registered companies. In recent years, the industry has shown both growth and variations in revenue and employees. With an annual sales growth of 9.3% from 2024 to 2025, data indicates potential for further development. At the same time, employee numbers show more volatility, decreasing from 18 in 2022 to 12 in 2024. This may indicate challenges in operations and management, but also opportunities to adjust the organization to adapt to market conditions.

The footwear store industry in Vestvågøy has shown a gradual increase in sales over the past few years, with an annual growth of 9.3% from 2024 to 2025. Total sales in 2025 amounted to NOK 16.2 million, indicating stable development. Employee numbers have been more variable, with a peak of 18 in 2022 and a decline to 12 in 2024. This may indicate challenges in operations and management, but also opportunities to adjust the organization to adapt to market conditions. The EBITDA margin has varied, with a positive margin for Leknes Skotøymagasin As and a negative margin for O Bolle As, showing that there is a broad variation in financial health among companies in the industry.

There are two companies registered in the footwear store industry in Vestvågøy:

1. Leknes Skotøymagasin As – Storgata 8, Leknes. This company has 11 employees and shows a positive EBITDA of NOK 478,000. It has a high sales growth of 8% and good financial health with an EBITDA margin of 3%.

1. O Bolle As – Storgata 19, Leknes. This company has 4 employees and shows a negative EBITDA of NOK -432,000. Although it has a high sales growth of 13%, its financial health is weak with an EBITDA margin of -14%.

Both companies are organized as AS, which is the only organizational form registered in the industry. This indicates that there is a standardized structure in the industry, which can be an advantage for stability and management.

The footwear store industry in Vestvågøy is concentrated in Leknes, where there are two companies and 15 employees. This shows that it is an important central point for the industry in the municipality. There are no registered companies in other areas of the municipality, which may indicate that the industry has limited spread. This could be an opportunity to expand activities to other areas of the municipality, especially if there is a need for more distribution of services and products.

The footwear store industry in Vestvågøy has shown some variations in financial health over the past few years. Leknes Skotøymagasin As has shown stable development with a positive EBITDA and high sales growth. O Bolle As, however, has shown weak financial health with a negative EBITDA and low EBITDA margin. There are no registered bankruptcies in the industry, showing a certain degree of stability. This can be an advantage for investors and founders who want to start a new business activity in the industry.

Outlook for Founders

The footwear store industry in Vestvågøy shows potential for growth and development, especially with an annual sales growth of 9.3% from 2024 to 2025. However, it is important to be aware of the variations in financial health among companies in the industry. Founders should consider developing a stable and robust business model that can adapt to market conditions and compete effectively. It may also be beneficial to collaborate with existing companies in the industry to share resources and experiences.

The creative, arts, and entertainment activities industry in Vestvågøy has shown more stable development compared to the footwear store industry. There are 16 companies in this industry, showing broader activity. Sales have shown a growth of 7.1% from 2023 to 2024, indicating good development. Employee numbers have been more variable, with a decline from 106 in 2023 to 93 in 2024. This may indicate challenges in operations and management, but also opportunities to adjust the organization to adapt to market conditions. Peer companies in this industry have a broad variation in financial health, showing that there is a broad variation in business models and strategies.

The footwear store industry in Vestvågøy shows potential for growth and development, especially with an annual sales growth of 9.3% from 2024 to 2025. However, it is important to be aware of the variations in financial health among companies in the industry. Founders should consider developing a stable and robust business model that can adapt to market conditions and compete effectively. It may also be beneficial to collaborate with existing companies in the industry to share resources and experiences. SmartGrunder can help founders find suitable addresses in Vestvågøy for this industry, which can provide an advantage over competing companies.