05/01/2015 02:47 EDT | Updated 05/01/2016 05:12 EDT

Frank Budwey, Supermarket Owner, Surprises Employees with Part Ownership Of Store

The Buffalo News/Twitter
NORTH TONAWANDA, N.Y. - The 33 full-time employees of a New York supermarket just got a special bonus: Their boss is giving them part ownership of the business.

Frank Budwey says Friday he hopes the move will ensure that the 90-year-old independent market bearing his family name makes it to 100 and beyond.

The 66-year-old will remain the majority stakeholder until he retires and divides his shares among selected employees. Until then, his 33 new partners will split 45 per cent and share profits going forward.

Budwey surprised the staff with the news at a mandatory meeting Thursday evening. Some employees say they feared Budwey was announcing he planned to close his store in North Tonawanda, outside Buffalo, or that it was being sold.

Budwey's grandmother opened the original store in 1925.

Also on HuffPost

  • Shopping carts
    Flickr: coolmikeol
    Invented in the 1930s to help shoppers tote their purchases, shopping carts are often grabbed automatically on the way into the store -- and then filled along the way out. Don't absentmindedly go for a cart. Instead, choose a small handled basket, or only buy what you can carry in your arms, especially on those quick runs for one or two items.
  • Bakery, Floral & Produce Near The Entrance
    Flickr: paulswansen
    As soon as you walk in a supermarket, your senses are lambasted into happiness with the aroma of baking bread or fresh cut flowers and the colorful sights of the produce department. The shot of dopamine (and salivation) you get from these joyful sensations will make you more likely to impulse spend; enjoy the pleasure, but remember your list!
  • Dairy In The Back
    Flickr: Walmart Stores
    The number one item bought at most supermarkets is milk, which is almost always in the very back of the store, past shelves of high mark-up products, new items and enticing endcaps. If milk is your mission, it is easy to lose focus and grab extra items on the path to the back of the store.
  • Misty Produce
    Flickr: rutlo
    Most supermarkets mist their fruits and vegetables every so often, despite the fact that it makes the produce rot faster. Why? Because humans like shiny things. We equate a dewy mist with being fresh, and consider shininess to always add value, from hair to cars and laptops to produce. Shinier = Better. Those misters are only there to make your brain think the produce is fresher and more valuable than it actually is.
  • Tiny Aisles & Slow Music
    Flickr: paulswansen
    Ever notice that supermarket aisles barely provide enough room for two carts to pass? That's no accident -- stores want you to go through them as slowly as possible. Slow music also makes you move slower, and the more stops you make, the more items you will buy. Shop at non-crowded times of the day (like early morning) to lessen this effect.
  • Endcaps With No Sales
    Flickr: ilovememphis
    Featured items are always located on the endcaps or the ends of aisles with a huge price sign, but often these products are not on sale at all. The special location makes shoppers think that the price has been lowered, but in reality the endcap's prime real estate is used to sell products with a higher markup -- not lower.
  • Sales Signs With No $
    Flickr: paulswansen
    We all know the $0.99 trick ($0.99 seems to cost much less than a penny than $1.00), which uses our subconscious desires to trump our logical brains that know better. Another version of this trick is to remove the almighty dollar sign, which makes us think about spending money. Numbers alone make us think about saving money. Your brain processes $2.99 as more expensive that 2.99 -- and supermarkets all over are following this trend of dropping the dollar sign.
  • "Limit 10 Per Customer"
    Flickr: iboy_daniel
    Limiting the number of items you can buy makes the product seem scarcer and therefore more valuable. You might think everyone else is buying the limit and you will be left with none. Whenever you see a limit placed on the number of items that can be purchased, the grocery store is trying to tweak your brain.
  • Free Samples
    Flickr: avlxyz
    Would you like to try some cheesy poofs? Free samples not only slow you down even more, but also engage the reciprocity factor in your mind. When someone gives you a gift, you want to give them one too -- and this works with free samples very well. You may buy a box of poofs just to "even the score" and uphold your side of this psychological force. Don't fall for it!
  • Eye Level
    Flickr: mroach
    Expensive name brand items are always at eye level, with cheaper brands and generics on the top or bottom of the shelves where you are less likely to see them. One exception: The sugary cereal aisle, where the most expensive products are placed at children's eye level and are likely to catch kids' eyes.
  • Understaffed Checkout Lines
    Flickr: Robert Couse-Baker
    Do the check stands at your supermarket seem to always have lines no matter when you go? Grocery stores don't want you zooming through the checkout stands, because this is where overpriced, impulse items like candy, soda, magazines and DVDs are located. While you're waiting you may get hungry, thirsty or bored -- all of which work in favor of grabbing a stimulating magazine or candy bar. Be aware that you are being stalled for a reason, and resolve not to add to your cart in the checkout line.