Return To The Building Owner [EN]: Chapter 298

298

A grin.

Unlike Shin Young-hoon’s sulky expression, a slight smile spread across Hyun-sung’s face.

Seeing this, Shin Young-hoon threw out a remark.

“Aren’t you going too far?”

“What do you mean?”

Hyun-sung feigned ignorance and asked back.

Of course, he knew very well why Shin Young-hoon was upset. Shin Young-hoon was probably just dissatisfied with the face value of 10 won [approximately one US cent].

That was only natural.

10 won. It was an amount that could be easily dismissed based on its face value alone.

But what Hyun-sung wanted to talk about now wasn’t just the face value.

‘The psychology of 10 won.’

The difference between 990 won and 1,000 won.

Of course, in terms of amount, there was only a difference of 10 won. It was an amount that could be easily overlooked, and most customers didn’t consider the difference in amount to be important.

But the nuance was definitely different. The subtle feeling between the 900 won range and the 1,000 won range was much more significant than generally thought.

He had already experienced it countless times in his past life.

4,900 won, 9,900 won, and even 999,000 won, etc., the combinations of numbers were endless.

At first glance, it seemed like playing with numbers, but the effect of the nuance was considerable. The fact that the prices of many products were marked with the number ‘9’ meant that its value had already been proven.

Shin Young-hoon continued.

“Are you kidding me right now?”

“Kidding?”

“Yes, aren’t you? Who would even care about that 10 won? In my opinion, they would rather be upset that you’re playing around.”

“Listen carefully to what I’m about to say. That 10 won…….”

Hyun-sung recalled his memories from his past life and began to explain in detail why he had to charge 990 won. As Hyun-sung’s explanation continued at length, Shin Young-hoon’s expression gradually began to change. And finally, when Hyun-sung’s explanation ended, Shin Young-hoon immediately said.

“So, what you’re saying is that it’s not the amount of 10 won that’s important, but the psychological difference that the number ‘9’ creates, which influences customers’ decisions?”

“That’s exactly it. Although the amount is only 10 won different, customers perceive it as being relatively cheaper.”

“Haha, is that really the case?”

Shin Young-hoon still had an expression that he couldn’t completely believe Hyun-sung’s words.

Perhaps that was a natural reaction. Hyun-sung himself knew the value because he had experienced it in his past life, but if that wasn’t the case, he would have had the same reaction as Shin Young-hoon.

“You’re still not convinced, are you?”

“I understand what you mean, but honestly…….”

Hyun-sung chuckled.

It wasn’t a problem that could be solved by simply telling him to believe it. In this case, there was only one way. First, implement it and verify it later.

To do that, you had to create a situation where the other person had no choice but to implement it.

“How about this approach?”

“What approach?”

“If the customers’ reaction isn’t good or is lukewarm, I won’t collect the overdue rent from last month. How about that?”

“Yes? No, how can…….”

Shin Young-hoon’s ears perked up. He was already struggling because business wasn’t doing well. How dire would things have to be for him to be behind on rent? It wasn’t just a few pennies, but a whopping 50,000 won [approximately 50 USD]. It was definitely not a small amount. He wanted to accept Hyun-sung’s condition right away.

But…….

Shin Young-hoon couldn’t easily answer. The reason was that he didn’t think it was morally right to accept Hyun-sung’s condition.

It was Shin Young-hoon himself, not Hyun-sung, who was running the business now. In that situation, it didn’t make sense to accept Hyun-sung’s condition without fully understanding it.

He couldn’t do that.

It was right to refuse.

But that was only an echo of his conscience.

Unexpectedly, Shin Young-hoon said something completely different.

“Can I really do that?”

“Of course. And there’s another condition.”

“A condition?”

“Yes, lower the price of the existing *kalguksu* [Korean noodle soup]. Do you have any idea how much to lower it by?”

At Hyun-sung’s question, Shin Young-hoon thought for a moment and carefully opened his mouth.

“Maybe 490 won……?”

“Bingo! That’s right. Now you understand what I mean.”

“So, you’re ultimately talking about the psychological difference that I mentioned earlier?”

“That’s right. Trust me and follow my way. Customers will definitely like it. And again, if the reaction isn’t good…….”

Hyun-sung repeated the same words he had said a little while ago. It was only natural that Hyun-sung’s voice had strength because it had already been verified in his past life.

Hyun-sung continued.

“And only take orders for the thinly sliced pork belly *shabu-shabu* [Japanese hotpot] mushroom *kalguksu* for two or more servings.”

“Does that mean you’re not selling it for one serving?”

“Yes, that’s right. If you sell it for one serving, the unit price won’t align with the strategy. Anyway, the most important thing is that it helps with sales.”

“I understand what you mean.”

Shin Young-hoon nodded as if he understood.

Then Hyun-sung continued.

“And as you know from doing business, if word gets out, sales will increase more than you think. In my opinion, it will increase by 100,000 won [approximately 100 USD] within half a month.”

“100,000 won? Is that really true?”

Shin Young-hoon looked at Hyun-sung with an unbelievable expression.

Then Hyun-sung nodded and continued.

“That’s why it’s important to increase the average transaction value.”

“Average transaction value? What’s that again?”

“Ah, that. What that is, is generally the total sales divided by the number of customers…….”

Hyun-sung began to explain about the average transaction value. When Hyun-sung’s explanation ended, Shin Young-hoon immediately continued.

“So, in the end, it’s how much one person spends on average?”

“Yes, that’s right. The higher the average transaction value, the higher the sales. Of course, the profit margin is also important. And anyway, if you sell thinly sliced pork belly, you’ll sell quite a bit of alcohol too. Especially in the evening, the alcohol business will be quite profitable. As you know, even if you profit 300 won [approximately 0.30 USD] from alcohol, you’re guaranteed to make more than 200 won [approximately 0.20 USD], right?”

“If only it were like that…….”

Shin Young-hoon’s face was already bright with anticipation.

Looking at Shin Young-hoon, Hyun-sung said.

“And while regular *kalguksu* is cooked in the kitchen, customers will cook the thinly sliced pork belly *shabu-shabu* mushroom *kalguksu* themselves.”

“Yes? Customers cook it themselves? What does that mean?”

Shin Young-hoon looked at Hyun-sung with an unbelievable expression.

Perhaps that was a natural reaction.

These days, the *shabu-shabu* culture where customers cook themselves has become common, but back then, there were only a few restaurants like that in the city center, so it was only natural that Shin Young-hoon was surprised.

“So, you just prepare the basic ingredients…….”

Hyun-sung began to explain in detail how to serve the food. When Hyun-sung’s explanation ended, Shin Young-hoon immediately continued.

“But won’t customers find it annoying?”

“That won’t happen. Rather, customers will be intrigued by the new food experience. And the most important thing is the taste, as you’ve already tasted it. If you consistently maintain that taste, customers will come on their own. And one more thing, don’t forget that the quantity is just as important as the taste in food.”

“The quantity?”

“Yes, keep in mind that this is the countryside. Honestly, flour is cheap, right? Don’t skimp on the noodles and give them a generous portion.”

“Yes, I understand.”

“Do you have any more questions? I think I’ve said almost everything.”

When Hyun-sung asked, Shin Young-hoon thought for a moment and then opened his mouth again.

“I’ve been worried about this since earlier, but I’m wondering if 990 won is too expensive for a meal. This isn’t the city, it’s the countryside…….”

“사장님 [Sajangnim – a Korean term of address for a business owner or boss]!”

Hyun-sung called Shin Young-hoon in a low voice.

The reason was simple. He was a little disappointed that he was bringing up the price again now.

Hyun-sung thought that if he was going to talk about the price, he should have talked about it when the word 990 won first came out.

But he couldn’t say anything to Shin Young-hoon, who was worried.

He had no choice but to ask again.

“Are you worried about that?”

“Actually, I’ve been worried about that from the beginning. Of course, the taste is good, but…….”

Shin Young-hoon’s words trailed off. That meant he was worried to some extent. But while Shin Young-hoon was talking, Hyun-sung’s expression was stiff as if he couldn’t sympathize at all.

And finally, when Shin Young-hoon’s words ended, Hyun-sung shook his head and said.

“You’ve missed the point.”

“Yes? What does that mean?”

“Do you know what customers find most annoying?”

“Well……, I think it’s the price…….”

“No!”

Before Shin Young-hoon could finish speaking, Hyun-sung cut him off firmly. Then he immediately continued.

“It’s not just the price, but the *value*.”

“The value?”

“Yes, not just the price, but the perceived value. The most annoying thing for customers isn’t simply that the price is expensive, but when the food doesn’t justify that price.”

“Doesn’t justify it?”

Shin Young-hoon stared at Hyun-sung.

Then Hyun-sung immediately continued.

“No matter how cheap the price is, if the food is terrible, the customer will be annoyed. On the other hand, no matter how expensive the price is, if the customer is satisfied with the food, they will be happy.”

“So, the price isn’t important?”

“No. The price is also important, of course. Setting the right price for that commercial area is definitely important. What I want to say is, as I said before, the key is whether the food offers sufficient value for that price or not.”

“So, in the end, 990 won isn’t necessarily expensive in this neighborhood, and you’re saying that we should create food that provides value at that price point?”

“That’s right. That’s exactly it. The best thing you can do is to do your best so that customers don’t feel like they’re wasting their money after eating. That’s the logic of providing value that I’m talking about.”

Shin Young-hoon nodded as if he finally understood.

Looking at Shin Young-hoon, Hyun-sung said again.

“Now all that’s left is promotion.”

“Promotion?”

“Yes, no matter how delicious the food is, customers won’t know if you don’t promote the taste. You haven’t been doing business well, so you should start doing business properly from now on, right?”

“Of course. Do you have any good ideas?”

Shin Young-hoon looked at Hyun-sung and asked.

Then Hyun-sung said.

“As the saying goes, there’s nothing more effective than word of mouth for promotion.”

“Word of mouth?”

“Yes, tasting it directly and spreading the word to the people around you. To do that, the first priority is to let them taste it first, of course.”

“You mean…….”

“Yes, invite people. Of course, the food will be provided free of charge.”

“Free of charge?”

Shin Young-hoon’s voice was weak. That meant he wasn’t very willing.

Hyun-sung continued immediately.

“Why? Is it a waste?”

“It’s not that, but can’t we offer it at least half price?”

“That doesn’t make sense. You’re asking them to advertise for you, but you’re charging them money? Let’s do it generously since we’re doing it anyway. We’re paying for advertising anyway, so this is nothing.”

At Hyun-sung’s proactive attitude, Shin Young-hoon carefully continued as if he couldn’t help it.

“Will it be effective?”

“Of course. Trust me. I got a lot of help from these people when I opened my business.”

“Who are those people……?”

“The senior citizen center elders.”

“The senior citizen center?”

Shin Young-hoon’s voice grew a little louder.

Then Hyun-sung immediately asked.

“Why? Don’t you trust the elders?”

“No, it’s not that, but still…….”

Hyun-sung chuckled at Shin Young-hoon’s appearance and continued.

“Don’t worry and trust the elders. I’m telling you from experience.”

“Okay. Then I’ll trust you.”

As soon as Shin Young-hoon finished speaking, Hyun-sung approached the phone.

Beep beep beep.

When he picked up the receiver and dialed the number, the other party answered the phone after a while.

– Hello.

The person who answered the phone was Seo Min-gyu, the president of the senior citizen association.

“President, it’s me.”

– Oh, what’s going on, Mr. Kim?

“How many people are at the senior citizen center right now?”

– There are ten people including me, why are you asking?

“Do you know the *kalguksu* restaurant next to the terminal?”

– Of course, I know. But why?

“Gather all the elders and come here now. I’ll treat you to dinner.”

– Haha, I’m sorry, but I can’t go there…….

“Why? Have you already had dinner?”

– It’s not that, but I don’t want to go to that restaurant because it’s not good.

“Yes? …….”

Hyun-sung was speechless.