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

Key Figures and Development

Ullensvang has two registered businesses in the jewellery/watches/clocks/gold/silver store sector in 2024. Sales experienced strong growth until 2020, reaching a peak of NOK 5.3 million, before declining by 45% in 2021. In 2023, sales reached NOK 3.9 million, but fell to NOK 3.3 million in 2024. Workforce development shows a more erratic trend, with a peak of 13 employees in 2023, followed by a decline to 4 employees in 2026. EBITDA margins for the two businesses range between 31–32%, indicating good cost control.

Economic Health

The two businesses have high gross margins (85%) and operating margins (30%). Gullhuset AS has an EBITDA of NOK 831,000 with 4 employees, while Berg Gull Og Sølv Eftf AS has an EBITDA of NOK 1.1 million with 0 employees. This suggests that one business operates with high efficiency, while the other has a less clear operational structure.

Sales Development

Sales for the sector grew by +28.8% from 2018 to 2019, before reaching a peak in 2020 with NOK 5.3 million. After that, sales fell by 45% in 2021 and have slowly risen to NOK 3.3 million in 2024. This development shows fluctuating market dynamics, with strong growth before the pandemic and a more unstable period afterward.

Workforce Development

Workforce development has been more erratic, with an increase from 7 employees in 2016 to 13 employees in 2023, followed by a sharp decline to 4 employees in 2026. The most significant change was +44.4% from 2022 to 2023, followed by a decline of 15.4% from 2023 to 2024. This may indicate a combination of increased operational activity and later adjustments.

Registered Businesses

In Ullensvang, the following businesses are registered in the jewellery/watches/clocks/gold/silver store sector:

Legal Forms

All registered businesses have the legal form AS. There are no companies with other legal forms in this sector in Ullensvang.

Geographical Distribution

All activities in the jewellery/watches/clocks/gold/silver store sector in Ullensvang are concentrated in Odda. Here, there are:

• 1 company with 4 employees
• 1 company with 0 employees
• Total of 2 companies
• NOK 2.6 million in sales from Odda
• NOK 2.6 million in operating income from Odda

Odda is therefore the only urban area in Ullensvang with activity in this sector.

Operational Efficiency and Bankruptcy Statistics

None of the registered businesses have gone bankrupt between 2016–2026. This indicates that the sector has been relatively stable, even though sales and employee numbers have grown and declined. However, there is a marked decline in the number of employees from 13 in 2023 to 4 in 2026, which may indicate operational challenges or changes in operational strategy.

Operational Results

• Gullhuset AS has an EBITDA margin of 32% and operating margin of 30%
• Berg Gull Og Sølv Eftf AS has an EBITDA margin of 31% and operating margin of 34%
• Both businesses have high gross margins (85%)
• Gullhuset AS has a high EBITDA per employee (NOK 277,000) compared to Berg Gull Og Sølv Eftf AS (NOK 123,000)

For entrepreneurs considering starting a business in the jewellery/watches/clocks/gold/silver store sector in Ullensvang, the data shows the following:

• Niche market: The sector is small, with only two companies, which may provide opportunities for differentiation
• High margins: EBITDA margins range between 31–32%, indicating good cost control
• Stable market: No bankruptcies between 2016–2026, even though sales and employees have fluctuated
• Geographic focus: Activity is concentrated in Odda, which can be an advantage for local marketing
• Development trends: Sales experienced strong growth until 2020, but have slowly declined since. This may indicate a need for innovation or adaptation to changing customer preferences

SmartGrunder can help entrepreneurs find suitable locations in Ullensvang for this sector, based on market and operational data.

The jewellery/watches/clocks/gold/silver store sector in Ullensvang has a small but relatively stable presence. With two companies and a combination of high margins and operational challenges, there may be both opportunities and challenges for new players. The geographic concentration in Odda and the high EBITDA margins (31–32%) indicate potential, but the fluctuating sales development and decline in the number of employees must be carefully considered. Entrepreneurs should consider how they can adapt to market dynamics and utilize the existing structures in Ullensvang.