Journal of Cadastre & Land InformatiX (지적과 국토정보)

LX Spatial Information Research Institute (한국국토정보공사 공간정보연구원)
권호 표지
DOI QR코드

DOI QR Code

A Study on Determinants of Franchised Coffee Shop Rents

프랜차이즈 커피점의 상가임대료 결정요인에 관한 연구

  • 정승영 (김포대학교 물류부동산과)
  • Received : 2015.08.21
  • Accepted : 2015.11.27
  • Published : 2015.12.10
Download PDF
⟨ Previous Next ⟩

Abstract

The study has analyzed the determinants of retail rents for the franchised coffee shop with the Multi-Regression analysis in Seoul. Central place, agglomeration, and demand-externality theories provide the basis for empirical models. The data used in this study consisted of 2,000 retail units in Seoul. As the results, the results show that coffee shop of retail sales per $3.3m^2$ and characteristic of retail trade-areas, and characteristic of coffee shop affects on the coffee shop's rents per $3.3m^2$. Coffee Shop's sales are the major determinant of coffee shop's rents. Also, coffee shop's goodwill per $3.3m^2$ and rental bond per $3.3m^2$ are positively correlated with a coffee shop's rents. Additionally, number of wholesale company and manufacturers in the retail trade-areas influences coffee shop's rent per $3.3m^2$. In summary, the study shows that coffee shop's brand identity, location and retail mix in the retail trade areas affects a coffee shop's rent per $3.3m^2$.

이 연구는 다중회귀분석으로 서울시 프랜차이즈 커피점의 상가임대료의 결정 요인을 분석하였다. 중심지이론, 집적이론, 그리고 외부수요의 이론은 경험적 모형의 기초를 제공한다. 이 연구에서 사용된 자료는 서울시의 2,000개 상점으로 구성되었다. 연구결과로서, 이 결과는 $3.3m^2$당 커피점의 매출액, 상권의 특성, 상점의 특징이 $3.3m^2$당 커피점의 상가임대료에 영향을 준다는 것을 보였다. 커피점의 매출은 커피점의 상가임대료의 주요 결정 요인이다. 아울러, $3.3m^2$당 상가권리금과 상가보증금은 상가임대료와 정(+)의 관련성을 가지고 있다. 추가적으로, 상권의 도 소매업체의 수 및 제조업체의 수는 $3.3m^2$당 커피점의 상가임대료에 영향을 준다. 요약하면, 이 연구는 상권의 커피점의 브랜드 인지, 입지, 임차인 혼재, 그리고 $3.3m^2$당 커피점의 임대료에 영향을 준다는 것을 제시한다.

Keywords

References

  1. Benjamin, J. D., G. W. Boyle and C. F. Sirmans(1990), Retail Leasing: The Determinants of Shopping Center Rents, Journal of the American Real Estate and Urban Economics Association, 18, pp.302-12. https://doi.org/10.1111/1540-6229.00524
  2. Brueckner, J. K.(1993), Inter-Store Externalities and Space Allocation in Shopping Centers, Journal of Real Estate Finance and Economics, 7, pp.5-16. https://doi.org/10.1007/BF01096932
  3. Christaller, W., Translated by C. W. Baskins(1966), Central Places in Southern Germany, Englewood Cliffs, NJ: Prentice Hall.
  4. Eppli, M. J. ; Shilling, J. D.(1996), How Critical Is a Good Location to a Regional Shopping Center?, The Journal of real estate research, v.12 no.3, pp.459-468 .
  5. Eppli, M. J. and J. D. Benjamin(1994), The Evolution of Shopping Center Research : A Review and Analysis, Journal of Real Estate Research, 9, pp.5-32.
  6. Gatzlaff, D. H., G. S. Sirmans and B. A. Diskin(1994), The Effect of Anchor Tenant Loss on Shopping Center Rents, Journal of Real Estate Research, 9, pp.99-110.
  7. Ghosh, A.(1986), The Value of a Mall and Other Insights from Revised Central Place Theory, Journal of Retailing, 62, pp.79-97.
  8. Hardin III, W. G. and M. L. Wolverton(2000), Micro-Market Determinants of Neighborhood Center Rental Rates, Journal of Real Estate Research, 20, pp.299-322.
  9. Neighborhood Center Image and Rents (2001), Journal of Real Estate Finance and Economics, 23, pp.31-46. https://doi.org/10.1023/A:1011112707018
  10. Hotelling, H.(1929), Stability in Competition, Economic Journal, 39, pp.41-57. https://doi.org/10.2307/2224214
  11. Huff, D. L.(1964), Defining and Estimating a Retail Trade Area, Journal of Marketing, 28, pp.34-38. https://doi.org/10.2307/1249154
  12. Ingene, C. A. and A. Gosh(1990), Consumer and Producer Behavior in a Multipurpose Shopping Environment, Geographical Analysis, 22, pp.70-93.
  13. Jeong, Seung-Young et al(2011), A Study of Retail Property Prices in Seoul, Korean Real Estate Academy Review, 46, pp.338-353.
  14. Jeong, Seung-Young et al(2012), The Effect of Spatial and Physical Factors on Retail Unit's Prices in Seoul, Korean Real Estate Academy Review, 51, 317-330.
  15. Jeong, Seung-Young et al(2013), The Effects of passing pedestrians Characteristics on retail rents, Appraisal studies, 20, pp.111-123.
  16. Jeong, Seung-Young et al(2013), A Study of Modelling and Forecasting Korea's Retail Rents with VAR Models. Korean Real Estate Academy Review, 53, pp.266-277.
  17. Jeong, Seung-Young et al(2014), The Effects of Road shop's Image on Retail Rents, Consulting research, 14(2), pp.35-52.
  18. Jeong, Seung-Young(2015), Assessing the Impact of Pedestrian Traffic Volume on Location Goodwill, Journal of Cadastre & Land InformatiX, 45(1), pp.225-240. https://doi.org/10.22640/LXSIRI.2015.45.1.225
  19. Losch, A.(1940), The Economics of Location, New Haven, CT: Yale University Press.
  20. Miceli, T. J., C. F. Sirmans and D. Stake(1998), Optimal Competition and Allocation of Space in Shopping Centers, Journal of Real Estate Research, 16, pp.113-26.
  21. Mills, E.(1992), Office Rent Determinants in the Chicago Area, Journal of the American Real Estate and Urban Economics Association, 20, pp.273-87. https://doi.org/10.1111/1540-6229.00584
  22. Nevin, J. R., and M. J. Houston(1980), Image as a Component of Attraction to Intraurban Shopping Areas, Journal of Retailing, 56, pp.77-92.
  23. Reilly, W. J.(1931), The Law of Retail Gravitation, NewYork, NY : Knickerbocker Press.
  24. Sirmans, G. S., D. H. Gatzlaff and B. A. Diskin(1996), Suffering the Loss of an Anchor Tenant, In J. D. Benjamin (Ed.), Megatrends in Retail Real Estate, Research Issues in Real Estate, Volume 3, Norwell, MA: Kluwer Academic Publishers.
  25. Sirmans, C. F. and K. A. Guidry(1993), The Determinants of Shopping Center Rents, Journal of Real Estate Research, 8, pp.107-15.
  26. Vernor, J., and J. Rabianski(1993), Shopping Center Appraisal and Analysis, Chicago, IL: Appraisal Institute.