Business Weathers Storm

Local businesses are weathering the national economic downturn as best they can, thanks to what the analysts call forward thinking.Mark Grundman, owner of Grundman Shoes, 906 N. Seventh St., said he anticipated the economic downturn two years ago and has been preparing for a lull in business. He upped his 2008 advertising budget and tried to purchase more inexpensive items from his distributors so he could pass the savings on to his customers."My approach for 2008 was not to try and make big profit but to keep my doors open," Grundman explained. "I tried to buy cheaper, more valued products from my distributors so I could try and keep my customers. So when the economic downturn hit, I was doing more advertising, trying to offer better deals, prices. "Yes, I'm taking smaller markup, but I want to keep my customers. This is the kind of economy where you thank your customers for staying loyal. This is not the time to make a profit."The result, Grundman said, is a still successful business despite a national economic decline."Our business is steady - the fall sale was successful," he said. "My plan is working. Either that, or the people of Vincennes are very loyal."And Grundman said it will be more of the same in 2009. He's preparing for the worst, but hoping for the best."At the moment, I don't plan any change," he said. "I plan on my keeping my advertising budget up and margins very thin. I'll keep looking for special values from distributors so I can pass those on to my customers."