Jewellery/Watches/Clocks/Gold/Silver Store Industry in Ringerike: A Comprehensive Analysis

Industry Overview

The jewellery/watches/clocks/gold/silver store industry in Ringerike is a small but active sector with 12 registered companies. In recent years, the industry has shown variations in sales and number of employees, with a significant increase in 2024. Hønefoss is the main centre for activity, with 3 companies and 22 employees. The most prominent companies are Mg Hønefoss As and Hønefoss Ur Og Gull As, which have higher sales and operating results compared to others. The industry has a relatively stable employment level, with 22 employees in 2026, but shows variations in operating results and sales over time.

The industry has experienced variations in sales over time, with an increase from NOK 13.8 million in 2016 to NOK 19.3 million in 2024, followed by a decline to NOK 18.4 million in 2025. The number of employees has been relatively stable, with 22 employees in 2026, but with a decline in 2020 and an increase in 2022. The most prominent companies have higher EBITDA margins (13–15%) and operating margins (10–11%) compared to smaller companies. Hønefoss is the main geographical centre, with 3 companies and 22 employees.

There are 12 companies registered in the industry in Ringerike, with organisational forms including AS (3 companies), ENK (7 companies) and ANS (1 company). The most prominent companies are:

• Mg Hønefoss As (Storgata 6, Hønefoss): 9 employees, sales of NOK 7.7 million, EBITDA of NOK 1.2 million.
• Hønefoss Ur Og Gull As (Kong Rings gate 1, Hønefoss): 6 employees, sales of NOK 10.8 million, EBITDA of NOK 1.2 million.
• Gullfunn Hønefoss (Kong Rings gate 1, Hønefoss): 7 employees, but with zero sales and operating results.

Several companies, such as Anne Marie Lindholt and Foss & Harper As, have no activity (zero sales and employees). The oldest company is Urmaker G Grønvold Ans (founded in 1956), but it has no activity today.

All 12 companies in the industry are registered in Hønefoss, which is the only geographical centre for activity. Hønefoss has 3 companies and 22 employees, with total sales of NOK 18.5 million and operating results of NOK 2.0 million. The main addresses are Storgata 6, Kong Rings gate 1 and Hagaringen 7B. There is no activity in other parts of the municipality.

The industry has been relatively stable in terms of bankruptcy, with no companies in bankruptcy. However, several companies (such as Gullfunn Hønefoss and Anne Marie Lindholt) show no activity (zero sales, zero employees and zero operating results). This may indicate challenges in marketing or operations. The most prominent companies have higher sales growth (3% for Hønefoss Ur Og Gull As in 2024) compared to smaller companies.

Outlook for Founders

For founders in this industry in Ringerike, there are both opportunities and challenges. Hønefoss is the only geographical centre, and it is possible to establish oneself there. However, there are several companies with no activity, which may indicate competitiveness or market challenges. The most prominent companies have higher operating margins and EBITDA margins, which may be an indication of good operations. Founders should consider focusing on marketing and differentiation to stand out in a competitive sector.

The broader category ideell organisasjon in Ringerike has 13 companies, compared to 12 in this industry. Sales and number of employees have similar trends, with an increase in 2022 and a decline in 2023. The only peer company in this category that does not belong to this industry is Tavex Gull Og Sølv As Avd Hønefoss (coin/stamp shop), which has zero sales and employees. This shows that the broader category has a more diversified structure, while this industry is more specialised in gold/silver and watches.

The jewellery/watches/clocks/gold/silver store industry in Ringerike is a small but active sector with opportunities for founders. Hønefoss is the only geographical centre, and it is possible to establish oneself there. However, there are challenges in the form of competitiveness and marketing. Founders should consider focusing on differentiation and good operations to stand out. SmartGrunder can help founders find suitable addresses and develop strategies to succeed in this industry in Ringerike.