Chapter 14
Chapter 14
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Translator: penny
Chapter: 14
Chapter Title: Location Matters
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"Location, huh..."
Lee In-cheol muttered to himself, then suddenly whipped his head around to look at me.
"Our shop's in a lousy spot."
"That's why it was such a struggle."
"Ugh..."
"But it's an office district, so that helped a bit. The workers around here don't have many options. They have to grab lunch nearby, and with just an hour for their precious break, gukbap saves time."
"Hoo."
"Weather plays a big role too. In winter, people crave hot soup."
There were plenty of good reasons to give it a shot, location aside.
"If you'd gone just one block further, the location would've been way better... You chose this spot because of the key money, right?"
"You're spot on."
Lee In-cheol looked shocked. He clearly hadn't expected me to know about that.
"It's just one block apart, but key money here's in the few-millions range, while up ahead it's in the tens of millions. Can you believe it? All for a few extra steps!"
It's a concept that's pretty foreign to your average office worker: key money. It's complicated to explain in detail, but it's totally different from monthly rent.
Say Person A takes over a first-floor spot from scratch and opens a shop. They'd have to gut the place—interiors, plumbing, electricity, the works.
That's way more investment than just renting the space.
Then suppose A quits for whatever reason, and Person B takes over. B gets all of A's pre-built fixtures plus the steady stream of regular customers.
That hard-to-quantify value gets converted into cash: key money.
Sure, some spots don't have it, but anywhere with decent business usually does.
And newbie owners often skimp on it, settling for spots just off the main drag.
'But it's the opposite. Newbies should aim for prime locations, even more so.'
Sure, it costs more upfront. But I'm not saying pay absurd prices—just something fair for the spot, and it's worth every penny.
"There's a reason key money forms like that. Even just one block makes a huge difference in foot traffic."
"Yeah..."
"If you'd shelled out a few million more at the start and set up in that prime spot, you'd have succeeded ages ago and made back multiples of that investment."
"Urk. Sh-should I move now...?"
"You just got settled. Focus on building regulars."
And a little hole-in-the-wall joint like this has its own charms. Doesn't it feel like your secret special spot?
Someday, this Hapjae Neighborhood Gukbap 0212 main branch would expand and relocate. But now wasn't the time. Better not get Lee In-cheol's hopes up.
"Still, Song Woo-yeon, looks like you know a thing or two about location and market analysis? Kid's got skills."
"...Nah."
"Huh?"
"Even I can't do full market analysis."
That's what specialized teams at the company handled. I'd dive into new menu development, but location scouting? Not my lane.
I'd picked up bits here and there, but I was still an amateur at best.
"So what's your plan?"
"Don't worry, Owner."
"I know a little magic trick. A way to find the perfect spot for business."
Lee In-cheol's eyes went wide as he stared at me. He looked like he wanted to pry it out of me.
Heh heh heh.
He'd see soon enough.
"Oh, and Owner? You free around 3 tomorrow? That's when the lunch rush cycles out and things quiet down."
"Huh? Why tomorrow?"
"Part-timer interviews. Wanted you to know."
"What?!"
I'd posted the ad on the part-time job board early. Picked out three or four promising ones and scheduled interviews, so tomorrow Lee In-cheol just had to select one or two.
"Why so surprised? You'll be busy with startup prep soon, and I can't stick around serving forever."
"W-well, true..."
"Once the new part-timers start, I'll hand things off."
It was a necessary step for bigger things. The place was stable now—I could pop in occasionally to check on it.
"Wait, interviews already? You planned this before my wife even showed up?"
"Of course."
I grinned. Lee In-cheol's dumbfounded face was priceless.
"I've never failed to attract investment. Especially when I personally manage it one-on-one."
After getting tear-soaked approval, we hired two more hall servers, and Kim Jong-chun and I rushed through the handover.
"I'll do my best!"
Jeong Da-on, the beaming male student.
"Pleasure to work with you."
Yoo Sol, the calm female student bowing politely.
Both were local college kids working for tuition and living expenses. They had solid customer-facing experience, so they picked things up fast.
We'd iron out any rough edges over time, and I'd stick around the hall training them for a bit.
With more staff, three in the hall wouldn't strain things. My pay didn't really count.
And for Kim Jong-chun...
"Wh-what? You're making me scout potential spots?"
"Yeah. You've gotta pound the pavement yourself."
Kim Jong-chun gave me those pitiful puppy eyes.
"You're not coming with...?"
"Is this my shop? It's yours. The owner has to do it."
He slouched out with slumped shoulders when I shot him down.
Hm. His back did look pretty dejected. But no helping it—this was my principle.
"Why not scout together? Didn't you say you had some magic method?"
"It's a test."
"A test?"
"Some folks jumping into food business aren't mentally prepared."
This was a gate to weed them out.
"For franchises, building lasting stores matters more than expanding numbers."
Shifting locations constantly messes up logistics. It all turns into losses.
A well-run single shop beats ten shaky ones.
Better to build solid, even if small.
"I get what you're saying, but... how's scouting real estate spots a test?"
"You'll see."
I narrowed my eyes, picturing Kim Jong-chun wandering from realtor to realtor.
"Still, since you were in sales, you'll pass the first hurdle easy."
"Sheesh. What do you mean, first hurdle?"
"You know..."
Meanwhile,
Kim Jong-chun poked his head cautiously into a real estate office.
"Anyone here?"
The agent looked up from his keyboard.
"Come in. What're you after?"
"Looking for a spot to open a shop. Got any good listings?"
"A shop... restaurant?"
"Yes, exactly."
"Hang on. Have a seat."
The agent just stared at his computer screen, saying nothing more. Kim Jong-chun sat blankly at the table, waiting.
The first step is humbling yourself, hitting up real estate offices. Newbies stick out, so agents don't treat 'em well. Begging for good spots and contacts? Bruises the ego bad. Tick-tock, tick-tock. Just the clock and the agent's occasional cough. Finally, the agent glanced at Kim Jong-chun.
"Ahem... Got a few decent ones. Wanna check one out now?"
"Yes!"
"Take my car."
Kim Jong-chun followed. Soon, they pulled up.
"Here's listing number one."
"Wow..."
His jaw dropped.
"It's huge and spotless."
"Right? Interior's recent—no major work needed."
It was bigger and grander than expected. Modern styling inside, and posters showed it'd been a trendy Western-style joint.
"Location's prime too. Lots of foot traffic up ahead, see those apartments? That's 1,800 units combined. You could thrive targeting residents alone."
"Wow, yeah."
Towering apartments everywhere, people streaming past even in that short time. It matched Song Woo-yeon's "location" perfectly. Imagining running a big gukbap joint here, being called Owner—it puffed him up with pride. But...
"Um, sir."
"Yeah?"
"Why'd this place fail?" ......With conditions this good, why was it on the market?
"If that's the first, what's the second?"
"Second hurdle: seeing failed restaurants with your own eyes."
"Ah, makes you hesitant to start?"
Song Woo-yeon smiled at Lee In-cheol.
"Owner, before you started, you studied thriving spots, right? Why they're packed, how they nail the taste, staff count, all that."
"Yeah."
"Ever analyzed flops?"
"Hm?"
Lee In-cheol's face filled with confusion.
"You can spot why winners win. But flops? Not so much."
That's what makes it scarier.
"Even a place that looks solid can tank—that's the harsh reality you witness first."