Return To The Building Owner [EN]: Chapter 618

A Few Days Later

Hyun-sung, having finished his video sales, spoke to his employee, Park Cheol-ho.

“Cheol-ho, don’t head straight home today. Let’s talk for a bit.”

“Yes, I understand.”

Shortly after, the two headed to a pork back-bone stew restaurant near the video store.

As they entered, the owner of the pork back-bone stew restaurant greeted Hyun-sung with a welcoming smile.

“Oh! Look who’s here!”

“How have you been?”

“I’m always the same, but how have you been, Mr. Kim? I heard you’ve been busy lately.”

“I’ve been doing alright.”

“By the way, the number of people visiting the free sharing shop has increased a lot since it started, so it must be tough for you.”

That was true.

It had been three months since he started running the free sharing shop, and the number of people using the shop had increased significantly. On average, 300 to 400 people visited each day, and sometimes it was close to 500. As a result, the amount of supplies needed each day was enormous.

“Still, I’m managing well thanks to the help from those around me.”

“You’re truly amazing. I’m amazed that an individual can do something that even the country can’t do. Anyway, what would you like to have?”

“One medium pork back-bone stew and two bottles of soju [Korean distilled rice liquor], please.”

“Yes, please wait a moment. I’ll prepare it right away.”

Shortly after.

As the pork back-bone stew was set up, Hyun-sung immediately asked.

“Mr. Owner, is this really a medium size?”

“Just eat it. I just prepared a large one. It’s not much, but please enjoy it; it’s from my heart.”

“I’m so grateful for this…”

“Honestly, I feel like giving you everything you eat today for free. So please don’t say anything and just enjoy it. That’s all I ask.”

“Yes, I understand. Then I’ll enjoy the meal gratefully.”

As the pork back-bone stew owner stepped back, Park Cheol-ho looked at the pork back-bone stew in front of him and asked.

“Mr. Hyun-sung, can you really eat all of this?”

“I have to eat it all out of respect. You better be prepared too.”

“Even so, this is too much.”

Park Cheol-ho shook his head from side to side, looking burdened but still smiling. He also knew that it was all out of the pork back-bone stew owner’s kindness.

Hyun-sung picked up a soju bottle and said first.

“Alright, let’s have a drink first.”

“Yes.”

Pouring.

Hyun-sung filled Park Cheol-ho’s glass with soju. Then Park Cheol-ho immediately took the soju bottle and filled Hyun-sung’s glass as well.

“Alright, cheers.”

“Yes.”

The two raised their soju glasses before the pork back-bone stew even started to boil. Then, they naturally cheered and emptied their glasses in one gulp.

From the mouths of both of them, exclamations immediately flowed out.

“Ahhh!”

The taste of alcohol eaten past midnight, especially soju on an empty stomach, is something that only those who have experienced it would know.

That’s how the two people’s drinking party began.

How much time had passed?

After they had eaten to some extent, Hyun-sung first asked Park Cheol-ho.

“Cheol-ho, do you know why I asked you to meet me today?”

“Yes, I have a rough idea. Isn’t it because my contract period is ending since January is ending in two days and it’s February?”

The additional contract period that Park Cheol-ho had signed last November was for three months. Originally, the contract was supposed to end at the end of October, but he wanted to learn video sales for three more months, so he extended it.

“Yes, that’s right. It’s already been three months since we promised. So, what do you think we should do?”

“Does that mean that I can extend the contract if I want to?”

“Of course. There’s no need for me to tell you to leave when you want to stay. I’ll leave the choice up to you. You can stay longer, or you can open your own store as we initially agreed.”

“Hmm…”

Park Cheol-ho was silent as if lost in thought. It was only after some time had passed that he opened his mouth again.

“I’ll do as we initially agreed.”

“Does that mean?”

“Yes, I want to have my own store now. Of course, I don’t know if I’ll do well, but I’m confident to some extent because I’ve learned a lot from you, Mr. Hyun-sung.”

“Hmm… Alright, then do that.”

Hyun-sung nodded.

Either way, Park Cheol-ho had been in Hyun-sung’s store for nine months.

Nine months, it wasn’t a long time, but it wasn’t a short time either. Hyun-sung thought that it would be enough time to run a store.

Hyun-sung picked up his soju glass, wet his throat, and then asked Park Cheol-ho again.

“Are you going to start a new business, or are you going to take over an existing store?”

“Well, I’ve been thinking about it for the past few days, but I don’t really know what to do. What do you think is better, Mr. Hyun-sung?”

“Hmm…”

Hyun-sung was silent for a moment as if lost in thought.

Shortly after.

Hyun-sung’s answer followed.

“Well, whichever you choose, there are pros and cons.”

“I don’t really know about that yet…”

“If you start a new business, the initial investment will be a little lower, but the downside is that it will take time to establish yourself. On the other hand, if you take over an existing store, you’ll have to pay a premium, so the initial investment will be a little higher. But since you’re taking over existing customers, it’s easier to establish yourself.”

“Ah, I see.”

“Which one do you think is better?”

“Hmm…”

After a moment of consideration, Park Cheol-ho immediately continued.

“I think it’s better to take over an existing store, even if it costs a little more. If I start a new business, I’ll have to renovate the interior and start doing business later. I think it’s better to just take over an existing store.”

“Okay, I understand. Then let’s look around at the video rental stores that are on the market starting tomorrow.”

“Of course, you’ll help me directly, right, Mr. Hyun-sung?”

“You brat, do you even need to ask? It’s you who’s becoming independent, so of course I have to help.”

“I was just wondering because you’re so busy… Hehe.”

Park Cheol-ho smiled slightly, watching Hyun-sung’s reaction. Then Hyun-sung immediately continued.

“No matter how busy I am, I have a sense of loyalty. I can’t abandon you.”

“You’re the best, Mr. Hyun-sung. Then should I start searching the real estate offices from tomorrow?”

“Why there?”

“Huh? Why there? Isn’t it natural to search the real estate offices in each neighborhood to get a store?”

That might be true. But there’s one downside to that. That’s the commission. The burden of brokerage fees, which is commonly referred to as ‘bokbi’ [brokerage fee in Korean]. But the problem is that the brokerage fee is not cheap.

“Do you have a lot of money?”

“Huh? Why are you suddenly asking that…”

“Why waste money on that? There are plenty of ways to find one without doing that.”

“There are plenty of ways to find one?”

Park Cheol-ho stared blankly at Hyun-sung as if he didn’t understand.

But only for a moment.

He seemed to have remembered something and continued.

“Are you perhaps talking about information magazines like the flea market papers?”

“Yes, there are so many local classifieds, why would you use a real estate office? How much is that brokerage fee?”

“Ah, I think I understand now. I spaced out for a moment…”

Park Cheol-ho scratched his head slightly as if embarrassed, and then immediately continued.

“So you’re saying we should go directly to the places listed in the local classifieds?”

“Yes, that’s right. That way, we don’t have to pay the brokerage fee. That fee is not cheap either.”

“You’re so thorough, Mr. Hyun-sung.”

“Alright, bring a lot of local classifieds when you come to work tomorrow. Let’s look around together starting tomorrow afternoon.”

“Yes, I understand. Don’t worry about that. I’ll take responsibility and bring all kinds of them, starting with the flea market paper.”

These days, local classifieds have almost disappeared, but back then, there were several local classifieds.

Park Cheol-ho asked again.

“Mr. Hyun-sung, how many square meters should the store be?”

“It should be at least 66 square meters [approximately 710 square feet].”

“Isn’t that too small?”

“No, that’s enough to run it alone. It’s not always good to be big.”

It’s not always good to have a large area. The larger the area, the more problems that come with it.

Moreover, it’s Park Cheol-ho’s first time running it alone.

Of course, he has gained experience while working with Hyun-sung for about nine months, but either way, running it himself will definitely be different from working as an employee.

Hyun-sung’s words continued.

“Rather than starting big from the beginning, it’s better to start with that size and gain more experience for a few more years before going big. It’s better to do it with that size for now.”

“You’re saying I should gain experience first?”

“Yes, you’ve been working as an employee for about nine months, but it’ll be different when you actually manage it yourself.”

“I guess so. When I was an employee, I just had to do what you told me to do. But from now on, I have to take responsibility for everything…”

Park Cheol-ho nodded as if acknowledging it. Then he asked again.

“Let’s say the size is about that much, which commercial district should I go to?”

“Which one do you want to go to?”

“Well, honestly, I don’t really have a sense of it. I don’t have enough experience to evaluate the commercial districts yet.”

“Hmm…”

Hyun-sung seemed to be thinking for a moment, and then immediately continued.

“Other businesses are all similar, but you can think of the video business as being divided into three main categories.”

“Three categories?”

“Yes, first, there’s the apartment complex commercial district, then the general residential area, and finally the station commercial district.”

“You’re in a general residential area, Mr. Hyun-sung?”

“You could say that.”

As Hyun-sung nodded, Park Cheol-ho asked again.

“Then is the general residential area the best?”

“Why do you think so?”

“Because you used to make more than 200 million won [approximately $150,000 USD] in sales a month, although not now.”

“That’s different. I used to do delivery back then. With four people. That’s why I was able to deliver to apartments far away. Back then, I included both the apartment complex commercial district and the general residential area commercial district.”

That was true. While doing delivery, the business area expanded to a radius of 2 or 3 kilometers [approximately 1.2 to 1.9 miles]. Of course, the reason for doing that was because of Movie Heart [Hyun-sung’s delivery service name from previous chapters].

“Then which commercial district is the best?”

“There’s no right answer. Each commercial district has its own characteristics. Anyway, the important thing is that it depends on how you do it in any commercial district.”

“Like you, Mr. Hyun-sung?”

“If you say that, I’ll be embarrassed.”

“So what’s the conclusion?”

Park Cheol-ho looked straight at Hyun-sung as if asking for the right answer. Hyun-sung, seeing that, smiled instead of answering. Then Park Cheol-ho asked again.

“Why are you smiling? Don’t do that and tell me for sure.”

“You still don’t know?”

“Huh? What are you talking about?”

“There’s no right answer. I told you a little while ago, it depends on how you do it. No matter how good the commercial district is, if you can’t manage it properly, you’ll fail. Even if the commercial district is not so good, if you work hard to suit that commercial district, you can succeed.”

“So it ultimately depends on the person?”

“That’s right.”

As Hyun-sung nodded immediately, Park Cheol-ho immediately continued.

“Then you’re saying there’s no need to consider the commercial district at all?”

“Of course, you can’t not consider it at all, but I don’t think you need to be too tied to it. The important thing is how much you set up a business strategy that suits that commercial district. First of all, the first thing to do is to analyze what kind of commercial district it is.”

“Commercial district analysis…”

Park Cheol-ho repeated the words ‘commercial district analysis’ as if talking to himself, and then looked at Hyun-sung and immediately continued.

“Mr. Hyun-sung, can I ask you one thing?”

“Of course. What is it?”

“What do you think is the most important thing in commercial district analysis?”

“Well, it may be different for each industry, but for video, wouldn’t it be the age group?”

“Age group?”

“Yes, the population distribution. People who watch videos range from young children to adults, but the age group that watches the most is from their 20s to 40s, so if there are many people in that age group, it would be helpful for business, right?”

“Hmm…”

After Hyun-sung finished speaking, Park Cheol-ho was silent for a while, wondering what he was thinking. It was only after some time had passed that he opened his mouth again.

“So you’re saying I have to pound the pavement?”

“That’s right. You shouldn’t decide right away after seeing it once or twice. In order to sign a contract for that store, you’ll have to invest a lot of time to understand the commercial district to some extent. If you sign a contract without thinking, you won’t be able to get out of it later.”

“Hmm, so there’s nothing easy.”

“That’s how the world is. If it were easy, everyone would do it. So you don’t have to rush too much and you need to approach it carefully. One of the reasons why people who start a business for the first time fail is that they make decisions too easily.”

After Hyun-sung finished speaking, Park Cheol-ho nodded and then continued.

“I’ll trust you, Mr. Hyun-sung. Here, have a drink.”

“What? Why is the last conclusion like that?”

“I don’t think I can do it alone, and I think I absolutely need your help, Mr. Hyun-sung. So please take good care of me starting tomorrow.”

“Huh…”

Hyun-sung looked at Park Cheol-ho and laughed as if he was dumbfounded. Then Hyun-sung immediately continued.

“Alright, but there’s a condition.”

“A condition?”

“Yes, do as I say.”

“Isn’t that obvious? Just tell me what to do.”

Park Cheol-ho answered vigorously as if he understood.

Pfft.