Stabilization Grant, Fall 2009
Klein’s Supermarket is located in the heart of Fairmount right on the corner of 24th and Fairmount Avenue in the bottom of a condominium building. They are family owned and have been around for a 100 years. Simon Klein arrived in Philadelphia from a small town near Minsk, Russia. It is now owned by three Klein brothers, the fourth generation to operate the business. One of the brothers, Ken Klein writes a ‘produce’ column for the local newspaper each week.
The local convenience stores have cut into the market share, as they stock food goods as well. Trader Joe’s and Whole Foods are also relatively nearby and have stirred up competition. The landlord/condo association was also requiring the businesses to upgrade their awnings and signage. Klein’s requested a grant that would contribute towards the purchase of new energy efficient freezer cases. These new freezer cases enabled him to purchase more wholesale goods, which typically fall at a cheaper price the larger the unit. This will allow Klein’s to keep an inventory that supplies his customer’s demands in the changing environment. In addition, the new freezer cases would cut electric costs being more efficient than the previous ones. This will allow Klein’s to increase cash flow that can be used for the extra expenses.