Industry · municipality
Knit Store in Hustadvika: Current Status and Outlook
Analysis of companies, statistics, and development trends in the industry in Hustadvika municipality
Economic Overview
Sales and employees in the knit store sector in Hustadvika
- Sales: Peaked in 2018 with NOK 2.9 million, but has since fallen by 46.2% from 2022 to 2023 (NOK 908,000). The most dramatic decline was recorded in 2022–2023, due to a combination of economic pressure and individual company closures.
- Employees: Has been stable at 6 from 2016 to 2019, but has since fallen by 75% from 2022 to 2023 (from 4 to 1 employee). The most significant decline was recorded in 2020–2021 (–25%), followed by a sharp decline in 2022–2023.
Yearly development:
| Year | Sales (NOK) | Employees |
|---|---|---|
| 2016 | 2.6M | 6 |
| 2017 | 2.7M | 6 |
| 2018 | 2.9M | 6 |
| 2019 | 2.0M | 6 |
| 2020 | 2.2M | 4 |
| 2021 | 2.5M | 3 |
| 2022 | 1.7M | 4 |
| 2023 | 0.9M | 1 |
Conclusion: The sector has been marked by a sharp decline in both sales and number of employees after 2019, with a particularly dramatic decline in 2022–2023.
Companies in the Industry
Fargeknall Stoffbutikk Agnes Esche is the only company in the knit store industry registered in Hustadvika. It has the following characteristics:
- Incorporation year: 2015
- Organizational form: ENK (sole proprietorship)
- Address: Rådhusvegen 6, Eide
- Status: Bankrupt
- Employees: 0
- Sales: NOK 0
- EBITDA: NOK 0
Organizational form statistics:
- ENK (sole proprietorship): 1 company
Conclusion: The industry is dominated by one company that has gone bankrupt and has no operational results or employees. This shows a very weak sector structure.
Business Geography
Advantages of companies in Hustadvika:
- Eide: 1 company (Fargeknall Stoffbutikk Agnes Esche)
Conclusion: All companies in the knit store industry in Hustadvika are located in Eide. No activity is registered in other districts of the municipality. This shows a very concentrated geography, which can be a challenge for diversification and market development.
Business Dynamism
Bankruptcies and operational results:
- Fargeknall Stoffbutikk Agnes Esche: Has gone bankrupt and has no operational results (sales, EBITDA, operating profit) or employees.
- Employee development: Fell from 6 to 1 employee from 2022 to 2023 (–75%), showing an extreme decline in workforce.
Conclusion: The industry is marked by very low dynamics, with a single company closure and an extreme decline in the number of employees. This shows a very unstable sector with little resilience.
Outlook
Outlook for entrepreneurs
Outlook for new companies in the knit store industry in Hustadvika:
- Bankruptcies and decline: The only company closure in the industry (Fargeknall Stoffbutikk Agnes Esche) and the extreme decline in sales and employees (–46.2% and –75% from 2022 to 2023) show a very unstable sector.
- Market challenges: There are no companies in the industry that have shown positive development in recent years, which may indicate a very competitive market environment.
- Recommendation: Entrepreneurs should consider exploring alternative strategies, such as focusing on unique product categories, digitalization, or collaboration with local creative sectors to create differentiation.
SmartGrunder offer: SmartGrunder can help entrepreneurs explore potential addresses in Hustadvika for the knit store industry, with a focus on natural advantageous locations and market opportunities.
Outlook for the Parent Sector
Creative, art, and entertainment activities in Hustadvika:
- Number of companies: 17 companies in the parent sector, compared to 1 company in the knit store industry.
- Sales: Fell by 93.8% from 2024 to 2025 (from NOK 8.8M to NOK 541,000), showing an extreme decline in the parent sector.
- Employees: Fell by 33.3% from 2023 to 2024 (from 21 to 14 employees), showing very low dynamics in the parent sector.
Peer companies in the parent sector:
| Name | Address | Sales (NOK) | Employees | EBITDA (NOK) |
|---|---|---|---|---|
| Aandahls Elnesvågen | Bølgen shopping centre, Torget 47, 6440 Elnesvågen | 7.1M | 7 | 239,000 |
| Fræna Kjøp, Salg Og Utleie As | c/o Odd Magne Tverli, Nedre Julsvang 36, 6445 Malmefjorden | 541,000 | 0 | 118,000 |
| Aidaho As | Bølgen Shopping Centre, Torget 43, 6440 Elnesvågen | 0 | 8 | 0 |
| Andreas Olsens Design | Malmefjordvegen 433, 6445 Malmefjorden | 0 | 0 | 0 |
| Change It As | Hubrovegen 2, 6408 Aureosen | 0 | 0 | 0 |
Conclusion: The parent sector (creative, art, and entertainment activities) has very low dynamics and an extreme decline in sales and employees. This shows that both the knit store industry and the parent sector have been marked by very unstable economic development.
Other companies in kreative, kunst og underholdningsaktiviteter (not in knit store)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Aandahls Elnesvågen | clothing store | Bølgen kjøpesenter|Torget 47, 6440 Elnesvågen | NOK 7.1M | 7 | NOK 239.0K |
| Fræna Kjøp, Salg Og Utleie As | second-hand goods store | c/o Odd Magne Tverli|Nedre Julsvang 36, 6445 Malmefjorden | NOK 541.0K | 0 | NOK 118.0K |
| Aidaho As | clothing store | Bølgen Kjøpesenter|Torget 43, 6440 Elnesvågen | NOK 0 | 8 | NOK 0 |
| Andreas Olsens Design | clothing store | Malmefjordvegen 433, 6445 Malmefjorden | NOK 0 | 0 | NOK 0 |
| Change It As | clothing store | Hubrovegen 2, 6408 Aureosen | NOK 0 | 0 | NOK 0 |
| Drågens Produksjon Og Markedsføring | clothing store | Buvegen 6, 6440 Elnesvågen | NOK 0 | 0 | NOK 0 |
| Hardstyle By Felix Vestavik | clothing store | Sentervegen 76, 6440 Elnesvågen | NOK 0 | 0 | NOK 0 |
| Lykkeboden Lyngstad | second-hand goods store | Lyngstadvegen 106, 6493 | NOK 0 | 0 | NOK 0 |
| Maria Hansgård Farstad | second-hand goods store | Brenslestien 19, 6444 Farstad | NOK 0 | 0 | NOK 0 |
| Noire Da | clothing store | Øvrebøen 5, 6440 Elnesvågen | NOK 0 | 0 | NOK 0 |
| Noire Da | clothing store | Øvrebøen 5, 6440 Elnesvågen | NOK 0 | 0 | NOK 0 |
| Ol Antikk Ove Lyngstad | second-hand goods store | Brenslevegen 9, 6443 Tornes I Romsdal | NOK 0 | 0 | NOK 0 |
| Sonja Hoem | clothing store | Sørsidevegen 1188, 6408 Aureosen | NOK 0 | 0 | NOK 0 |
| Vargfrost Hustadrem | clothing store | Knausvegen 24, 6443 Tornes I Romsdal | NOK 0 | 0 | NOK 0 |
| Wherelse, Else Stavik | clothing store | Fræneidet 3, 6440 Elnesvågen | NOK 0 | 1 | NOK 0 |
| Zavanna Bølgen Kjøpesenter Avd 699 | clothing store | Torget 47, 6440 Elnesvågen | NOK 0 | 5 | NOK 0 |
Conclusion
Overall assessment of the knit store industry in Hustadvika:
- Weak points: A single company closure, extreme decline in sales and employees, and very low dynamics.
- Opportunities: Potential collaboration opportunities with the parent sector (creative, art, and entertainment activities) could improve market positioning.
- Recommendation: Entrepreneurs should consider exploring alternative strategies, such as focusing on unique product categories, digitalization, or collaboration with local creative sectors to create differentiation.
SmartGrunder offer: SmartGrunder can help entrepreneurs explore potential addresses in Hustadvika for the knit store industry, with a focus on natural advantageous locations and market opportunities.