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Jewellery/Watches/Clocks/Gold/Silver Store Industry in Elverum: A Comprehensive Analysis
Companies, Statistics, and Outlook for the jewellery/watches/clocks/gold/silver store sector in Elverum, Innlandet County, Norway
Executive Summary
Jewellery/watches/clocks/gold/silver store in Elverum is a small but active sector with 6 registered companies. The industry has shown variation in sales and employees over time, with a significant decline in 2025. Although there are small companies and some with negative results, there are no bankruptcy registrations in the industry. Elverum is the only place in the municipality with activity in this industry, with 15 employees in total. SmartGrunder can help entrepreneurs explore potential locations in Elverum for this industry.
Economic Overview
Sales and Employee Development
| Year | Sales (NOK) | Employees |
|---|---|---|
| 2016 | 7.1M | 15 |
| 2017 | 7.3M | 13 |
| 2018 | 7.4M | 13 |
| 2019 | 7.8M | 15 |
| 2020 | 7.7M | 15 |
| 2021 | 7.2M | 16 |
| 2022 | 7.8M | 14 |
| 2023 | 8.3M | 14 |
| 2024 | 9.9M | 16 |
| 2025 | 4.4M | 18 |
Sales experienced a sharp decline of 55.9% from 2024 to 2025, while the number of employees increased by 16.7% during the same period. This is a clear deviation from the positive trend previously observed, which should be followed up with a closer analysis of the causes.
Companies in the Industry
Registered Companies in the Industry
| Company | Address | Legal Form | Employees | Sales (NOK) | EBITDA (NOK) |
|---|---|---|---|---|---|
| Gullfunn Elverum | Torggata 3 | AS | 6 | 0 | 0 |
| Elverum Ur Og Smykker As | Torggata 3 | AS | 5 | 4.1M | -290K |
| Silkeborgh As | Storg 23 | AS | 4 | 275K | 52K |
| Amour Jewelry Vestad | Solørvegen 235 | ENK | 0 | 0 | 0 |
| Herambs Ur | Storgata 16 | ENK | 0 | 0 | 0 |
| Kremmertorgets Urforretning Ans | Kremmertorget | ANS | 0 | 0 | 0 |
Most companies are AS (3 companies), with a mix of older and newer companies. Silkeborgh As has a positive EBITDA, while Elverum Ur Og Smykker As reports losses.
Business Geography
Distribution of Activity in the Municipality
| Location | Number of Companies | Number of Employees |
|---|---|---|
| Elverum | 6 | 15 |
All companies in the industry are registered in Elverum, with a focus on Torggata and Storgata. There is no activity in other districts or neighboring municipalities.
Operational Performance and Bankruptcies
Bankruptcies and Operational Performance
- Bankruptcies: No companies in the industry are registered in bankruptcy.
- Operational Results: 2 of 6 companies report negative EBITDA (Elverum Ur Og Smykker As and Gullfunn Elverum), while Silkeborgh As has a positive result.
- Debt: Two companies (Gullfunn Elverum and Elverum Ur Og Smykker As) have higher debt than equity.
The industry shows a mix of stable and unstable companies, but there are no bankruptcies or major operational challenges in 2025.
Outlook for Entrepreneurs
- Market Development: The sharp decline in sales in 2025 (55.9%) is a warning sign, but there was a positive trend before this (an increase of 19.4% from 2023 to 2024).
- Competitiveness: Only 3 companies are actively operating in the industry, which could provide room for new players.
- Cost Structure: Silkeborgh As has a high gross profit margin (18%) and positive EBITDA, showing that it is possible to operate profitably with proper cost management.
- Employees: The increase in the number of employees (from 14 to 18) in 2025 may indicate increased activity, even though sales declined.
For entrepreneurs, it may be possible to find space in Elverum, but it is important to analyze the cause of the sales decline in 2025 before proceeding.
Conclusion
Jewellery/watches/clocks/gold/silver store in Elverum is a small but active industry with potential for development. Although there are challenges such as negative EBITDA and sales decline in 2025, there are no bankruptcies and room for new players. Entrepreneurs should consider analyzing market development more closely before making decisions to establish themselves in the municipality.