Return To The Building Owner [EN]: Chapter 308

308

“Mr. Kim!”

Park Young-jin gripped Hyun-sung’s hand tightly.

Hyun-sung was surprised by Park Young-jin’s sudden action.

“Mr. President…”

“Mr. Kim, thank you.”

“Yes? What are you talking about…”

Hyun-sung couldn’t understand what Park Young-jin was saying. He had simply mentioned what he thought Kim Myung-soon could do as a tenant for the sake of the commercial district. But suddenly, Park Young-jin came over, grabbed his hand, and thanked him, which made him feel bewildered.

Park Young-jin continued immediately.

“How did you come up with such an idea?”

“Such an idea? I don’t know what you’re talking about.”

“The sign. The moment I heard what you said, I felt a shiver run down my spine. How did you think of making a sign together?”

Park Young-jin felt a shiver run down his spine the moment he heard it.

It was because of Hyun-sung’s idea.

To make a sign together. If they could do that, they could save a significant amount of money, as Hyun-sung said.

Maybe even more than the 20% Hyun-sung mentioned. Of course, the more stores that participate, the better.

How could he have thought of that?

Even when redoing the sign, he never thought of approaching it individually, let alone working together.

But it’s not entirely impossible.

Of course, there is a prerequisite. That is to persuade the landlords. If the rent is readjusted this time, the atmosphere of the commercial district will be completely different.

Only then will it be possible to make a sign together.

Hyun-sung’s answer followed immediately.

“It’s because of the cost. There’s bound to be a difference in cost between ordering one sign and ordering ten.”

“Of course. But how could you have thought of that? That’s why I’m surprised. Not just anyone can think of that.”

“I thought of group buying.”

“Group buying?”

“Yes, I took advantage of the benefits of buying in bulk rather than individually. If we do group buying…”

These days, with the development of the internet, the term ‘group buying’ is common, but back then, the term was hardly used.

As Hyun-sung explained, Park Young-jin nodded repeatedly with a bright expression. And finally, when Hyun-sung’s explanation was over, Park Young-jin immediately opened his mouth.

“So, you’re saying that we can lower the price per item by purchasing a large quantity, right?”

“Yes, that’s right. In a way, it’s a very simple logic. The problem is how many stores participate, that will be the key.”

“Hmm… I guess so. The more stores that participate, the more the quantity will increase. Anyway, the fact that you thought of that is amazing.”

Park Young-jin finished speaking and immediately continued.

“And hey! What was that about earlier?”

“Yes? What…”

“The uniformity of design. Signs are originally meant to advertise each store, but you’re saying we should unify them, so I don’t understand.”

“Ah, that? Would you like to come out for a moment?”

With those words, Hyun-sung left the real estate agency and headed across the street so that the commercial district could be seen at a glance. Then Park Young-jin naturally followed Hyun-sung.

Crossing the street, the commercial district came into view.

Hyun-sung spoke first.

“What do you think?”

“Hmm…”

Park Young-jin couldn’t open his mouth easily.

Then Hyun-sung spoke again.

“Isn’t it really diverse? Yellow, red, white, and even blue. There are a few more, but I don’t think I need to say more, do I?”

“Hmm… I didn’t even realize it was this diverse. I just see it every day, so I thought it was normal, but now that I see it like this, it’s really chaotic.”

“To be honest, it’s nice to say it’s diverse, but this is…”

He couldn’t bring himself to say the next words.

Then Park Young-jin continued immediately.

“I don’t think this is right either.”

“And the problem isn’t just the color of the signs. As you can see, the sizes are all different. On top of that, the locations of the protruding signs are all different too.”

“So, you’re saying we should unify all of this?”

“How many stores are there here in total?”

“Exactly 25.”

Hyun-sung nodded and continued.

“Imagine, if all 25 stores had the same design of sign. Of course, the sizes would be the same too. And imagine if the locations of the protruding signs were all unified in the same location. What do you think it would be like?”

“It would be amazing!”

“It’s daytime now, but if you imagine turning on the sign lights at night, the feeling might be different.”

“Hehe…”

Park Young-jin replaced his answer with a laugh.

It was then.

Kim Myung-soon, who had come out sometime, said to Hyun-sung.

“It’s so wonderful just imagining it. How can a young student have such thoughts? Park and I haven’t been able to think of that even at this age.”

“That’s what I’m saying. Sister, we’ve lived in vain.”

It was Park Young-jin who answered Kim Myung-soon’s words.

Then strange words came out of Kim Myung-soon’s mouth.

“Mr. Park, don’t miss this student.”

“Yes?”

“You’re making a chain store, right? Don’t let him be taken to another neighborhood, let him do business in our neighborhood. You know what I mean, right?”

“Haha, yes, Sister. I’ll take responsibility and hold on tight.”

“Okay. I have to go to the store now, so take care of it. And take responsibility for persuading the landlords. Show some value for the name of the commercial district’s prosperity association chairman. Then I’ll be going… Ah! Student, come to our store next time. I’ll treat you to a nice meal. And thank you so much today.”

With those words, Kim Myung-soon crossed the street and disappeared towards the shopping district.

Then Park Young-jin said.

“Let’s go into the store. We have to finish up.”

“Finish up?”

“I haven’t received a definite answer from you yet. Let’s go…”

Park Young-jin started crossing the street before Hyun-sung could answer. Then Hyun-sung had no choice but to follow Park Young-jin across the street.

The two entered the real estate agency.

Park Young-jin spoke first.

“Mr. Kim!”

“Yes.”

“I’ll take responsibility for securing the best location for the store that Ms. Shin wants here.”

“The best location?”

“Yes, there’s no better location in this neighborhood. That size is enough for a ramen restaurant.”

“How big is it?”

“25 pyeong [approximately 83 square meters].”

Hyun-sung tilted his head. The reason was that Shin Mi-sook said that there were only two stores for sale in this neighborhood.

One was a 7 pyeong [approximately 23 square meters] snack shop at the intersection, and the other was a 10 pyeong [approximately 33 square meters] vacant store. But now Park Young-jin is talking about a 25 pyeong [approximately 83 square meters] store.

That means he lied to Shin Mi-sook.

Hyun-sung asked immediately.

“Are you saying that you lied to Ms. Shin?”

“Didn’t I tell you earlier that I have a special relationship with the owner of the snack shop at the intersection? So I was going to dispose of that store first. I clearly apologized to Ms. Shin for that part earlier. Whatever the reason, it’s my fault, so I’ll apologize ten times if I have to.”

“There’s nothing else you’re hiding now, right?”

“Come on, I’m the one who’s desperate now. Didn’t you hear what Myung-soon said earlier? She told me to hold on to you no matter what. In that situation, what would I have to hide? But about that store…”

Park Young-jin left a lingering feeling for some reason.

Then Hyun-sung asked immediately.

“Is there a problem with that store?”

“It’s a bit expensive.”

“Expensive, are you talking about the rent?”

“Not the rent, but the key money [a non-refundable upfront payment to secure a lease] is 5 million won [approximately $3,750 USD]. But Ms. Shin initially told me that she only has 3.5 million won [approximately $2,625 USD] in spare money. In that case…”

Hyun-sung understood immediately. The problem is money. Shin Mi-sook doesn’t have enough money to get the store that Park Young-jin mentioned earlier.

Then Shin Mi-sook looked at Park Young-jin and asked immediately.

“5 million won?”

“Yes, that location is currently the most profitable in this neighborhood. It’s already gone down a lot. A few years ago, it was over 10 million won [approximately $7,500 USD].”

“Oh my! 10 million won?”

“Yes, that’s how well the business was doing. But as the commercial district shifted, it’s now halved. What are you going to do?”

“With 5 million won, I…”

Shin Mi-sook’s expression darkened rapidly.

Hyun-sung, who was watching the scene, looked at Park Young-jin and asked.

“How about the main gate side?”

“I’m sorry, but you can’t even get a foot in the door with that money on the main gate side. And right now, the landlords there are even charging floor premium [an additional fee based on the location’s desirability], so you can’t get in unless you’re willing to pay that.”

“Are you saying they’re charging floor premium?”

“That’s right.”

“Isn’t that money you can’t get back when you leave?”

There are three types of premium: business premium, facility premium, and finally, floor premium.

Business premium and facility premium are premiums that the previous tenant can receive to some extent when leaving, but floor premium is completely different in nature. It’s a premium that’s attached to the location itself, so it has nothing to do with the tenant. Most of it is received separately by the landlord, so the tenant has no rights to the money at all.

Park Young-jin continued.

“Of course. It’s money that the landlords take. In my opinion, that side is all show and no substance.”

“You mean it’s not practical?”

“That’s right. The business does well, but the rent is three times more expensive than here. As a result, fixed costs are high, so the money you take home compared to the business you do is small.”

“I see. So, you’re saying there’s no way right now?”

“Maybe…”

Park Young-jin’s eyes seemed to change slightly.

Hyun-sung, who saw the scene, asked immediately.

“Is there something else?”

“There’s a store in the back alley, but it’s a bit…”

“In the back alley? What are you talking about? Are you saying there’s another store?”

“But that store has gone out of business and been vacant for two years, and there was even a fire, so no one…”

“What are the conditions?”

Hyun-sung asked immediately before Park Young-jin could finish speaking.

Then Park Young-jin continued immediately.

“There’s no key money, of course, and the deposit is 1 million won [approximately $750 USD] and the monthly rent is 100,000 won [approximately $75 USD].”

“Yes? That doesn’t make sense? It’s been vacant for two years, but you’re saying the monthly rent is 100,000 won?”

“The size is a bit big.”

“How big is it?”

“30 pyeong [approximately 100 square meters].”

“Let’s go! Right now!”

Hyun-sung had no reason to hesitate any longer. 30 pyeong [approximately 100 square meters] for 100,000 won [approximately $75 USD], if the landlords readjust the rent this time, the rent will go down even more. Hyun-sung thought that there would be no better place than that.

“The location is too bad…”

Unlike the proactive Hyun-sung, Park Young-jin was hesitant.

Then Hyun-sung said again.

“The location is made by the taste of the food. Lead the way. I’ll decide after seeing it myself.”

“Oh? Oh, okay, I understand.”

With those words, Park Young-jin started to leave the real estate agency.

10 minutes later.

“Here it is.”

Park Young-jin stopped in front of a store. As Park Young-jin said, it was true that accessibility was poor as it was located in the back alley.

The only advantage was that the store was large.

Hyun-sung looked at Shin Mi-sook and asked.

“What do you think, Sister?”