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February 17, 1995 - Image 92

Resource type:
Text
Publication:
The Detroit Jewish News, 1995-02-17

Disclaimer: Computer generated plain text may have errors. Read more about this.

Business

PRESENTING APPLEGATE SQUARE
SHOPPING CENTER

Located on the southwest corner of
Northwestern Highway and Inkster Road
in Southfield, MI

FULL REAL ESTATE SERVICES

MARKET FACT

Tewish News readers possess income and investment profiles similar to The Wall Street

J Journal. Reach the area's most desirable audience... right in their own homes!

The Jewish News

Wall Street Journal
Midwest Region

Household Income $100,000 +

35%

35%

Net Worth $1 million +

20%

18 0/0

Own Certificates of Deposit

47%

47%

Own Government Bonds

21%

26%

Sources: 1993 Simmons-Jewish News Study; Wall Street Journal Subscriber Study

THE JEWISH NEWS

B20

HOW'S BUSINESS page 19

time. It's a vestige of the way
businesses used to look from days
gone by.
With that as a backdrop, Mr.
Chudnow borrows the business
lessons he learned from his par-
ents, Mandel and Toby, to run his
modern business into the next
century. The biggest lesson: per-
sonal service for each customer.
That's what keeps Mr. Chud-
now's outlook optimistic as he
competes with the area's office
superstores.
"The small business of today
has a struggle on its hands," he
said. "The value of a small busi-
ness is based on the service you
can offer. A superstore has prod-
ucts, but not the service."
Mr. Chudnow can equip an of-
fice from phones to computers to
furniture.
"Again, business can be a
struggle," he continued. "There's
plenty of business out there if we
don't mind not covering our bot-
tom line. The superstores are giv-
ing it away, yet they don't have a
knowledgeable sales staff."
Mr. Chudnow also keeps ex-
penses down by purchasing close-
out and overstock merchandise.
He also has a variety of colors and
styles, instead of gray or black, to
offer.
Better Business Equipment
started in 1956 when Mandel
Chudnow opened his typewriter
business. It became a furniture
house in 1964. In 1984, the firm
started selling office furniture.
Two years later, computers were
added and then, in 1989, the
phone segment started.
The future of this business?
"It will probably be all elec-
tronics on line, no more show-
room," Mr. Chudnow said. "You
won't be able to see what you are
buying in advance. It will come
from a warehouse. Having 1,000
chairs and 500 desks in the store
like we do now will be a thing of
the past. 0

Financing Deal
Is A First

Israel's Bank Hapo'alim has
signed a financing deal with the
Bank of China.
The agreement was signed to
finance China's purchase of $4.5
million worth of medical equip-
ment from Mennen Medical, an
Israeli-based company.
Bank Hapoalim is the first Is-
raeli bank to sign an agreement
of this kind with China.

'Israel Week'
In South Korea

South Korean retail chain Shin-
segae has ordered $2.5 million in
Israeli-made goods for its "Israel
Week," which will be held at the
chain's six outlets in May.

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