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

The jewellery/watches/clocks/gold/silver store industry in Sandefjord is a stable but variable sector with 10 registered companies and 46 employees in 2025. The industry shows a mix of traditional stores and modern websites, with an average annual revenue of approximately NOK 5.3 million per company. The most prominent companies include Protid Urmaker Næss As and Gullsmed A G Haakonsen As, which have higher profits and wage margins compared to smaller players. The industry has been marked by fluctuations in employee numbers and sales over time, but shows a positive trend in recent years.

Economic Trends

The industry has experienced fluctuating development over the past 10 years. Sales fell by 7.0% from 2016 to 2017, but have since grown by 9.1% from 2024 to 2025. The number of employees has followed a similar wave, with a decline of 10.9% from 2025 to 2026. The average annual revenue per company has increased from approximately NOK 4.0M in 2016 to NOK 5.3M in 2025, while wage costs have increased by 12% over the same period. The EBITDA margin stands at 11% in 2025, showing a relative strength in operating results.

Key Players in the Industry

• Protid Urmaker Næss As (Storgata 2): AS-form, 11 employees, NOK 21.3M in sales, 10% EBITDA margin
• Gullsmed A G Haakonsen As (Jernbanealleen 19): AS-form, 6 employees, NOK 13.1M in sales, 20% EBITDA margin
• Glitter Lagunen (Krohnåsveien 12): AS-form, 7 employees, NOK 3.2M in sales, 5% EBITDA margin
• Second Time As (Lågerødåsen 36): AS-form, 0 employees, NOK 1.4M in sales, 25% EBITDA margin
• Mestergull Signet As (Kongens gate 7): AS-form, 3 employees, NOK 3.1M in sales, -12% EBITDA margin

Organisational Forms: 7 of the 10 companies are ASs, while two are ENKs (Nettbutikker Ingeniør Petter Harbo Enge and Winbergdesign Bjørn Winberg). The AS form dominates with 70% of employees and 75% of sales volume.

Geographic Distribution

• Sandefjord: 7 companies, 44 employees, NOK 53.3M in sales
• Stokke: 2 companies (Second Time As and Winbergdesign Bjørn Winberg), 0 employees, NOK 1.4M in sales

Most companies are located in Sandefjord, with special addresses such as Torget 7 (Glitter Hvaltorget, Kristiansen Ur Og Gull) and Storgata 2 (Protid Urmaker Næss As). Stokke has two smaller players, one of which (Second Time As) achieved an extraordinary sales growth of 329% from 2020 to 2021.

Operational Efficiency and Risk

• Bankruptcy Safety: No companies in the industry are registered as bankrupt, showing a relatively stable sector.
• EBITDA Development: Two companies (Gullfunn Hvaltorvet and Mestergull Signet As) have negative EBITDA in 2025, while most have margins between 5% and 20%.
• Wage Expenses: The average wage per employee is NOK 269,000 in 2025, with large variations between companies (from NOK 26,900 to NOK 529,800).
• Debt Ratio: The average debt per company is NOK 4.0M, with an average equity of NOK 2.2M.

Outlook for Entrepreneurs

• Growth Potential: The industry has shown stable sales growth (9.1% from 2024 to 2025) and a positive trend in the last three years.
• Market Share: With 10 companies and 46 employees, the industry is relatively small, but with a high average sales per company (NOK 5.3M) there is potential for further development.
• Competitiveness: The most successful companies (such as Protid Urmaker Næss As and Gullsmed A G Haakonsen As) have higher margins and better operating results, which can be a starting point for new players.
• Outside Sandefjord: Two companies (Second Time As and Winbergdesign Bjørn Winberg) are registered in Stokke, showing that there may be opportunities to expand to neighboring municipalities.

SmartGrunder can help entrepreneurs find suitable locations and assess operational conditions in Sandefjord for this industry.

The jewellery/watches/clocks/gold/silver store industry in Sandefjord shows a mix of stability and variation. With growth in sales and relatively low bankruptcy risk, there are opportunities for new players, especially with a focus on digitalization and high quality. At the same time, it is important to be aware of the large variations in wage costs and EBITDA margins. Business drivers should consider learning from the most successful companies in the industry, which have higher margins and better operating results.