Chinanews.com, June 13th, China's largest car rental company, Shenzhou Car Rental, recently launched its overseas listing plan. According to the China IPO application data published on the website of the Hong Kong Stock Exchange, the company's adjusted net profit for the first quarter of 2014 reached 163 million yuan, a year-on-year increase of more than 300%.
Supporting the rapid growth of China's car rental revenue is its car rental business and second-hand car sales revenue. In 2011, 2012, 2013 and the first three months of 2014, China's car rental revenue from car rental services accounted for 94.7%, 96.7%, 81.7, respectively. % and 85.6%, the sales revenue of used cars accounted for 5.3%, 3.1%, 18.3% and 14.4% of the total revenue of car rental in China.
With the rapid growth of scale, China's car rental revenue will also grow at a high speed. However, it is no longer limited to its car rental business and used car sales revenue, and the value of franchisees is huge. The income from this block may become the future of car rental in China. New growth point.
In order to further expand geographical coverage and maximize customer experience and brand influence, Shenzhou Car Rental launched the “100 City Thousand Stores†program in December 2013: it is implemented in hundreds of cities outside the existing 66 direct cities. Franchise store strategy.
In order to guarantee the franchisee's service quality to the car rental customers in China, the car rental service of Shenzhou puts forward four requirements for the franchisee: after the accident, the vehicle must not charge the user for accelerated depreciation or loss of operation. All employees of the franchisee must be trained and hired. The district shall make timely compensation for the franchisees in the region to carry out strict procedures to control and cause losses to customers.
At the same time, in order to find more high-quality franchisees, the car rental fee will be reduced from the initial 500,000 yuan to 100,000 yuan. For this kind of more profit-making behavior for franchisees, Lu Zhengyao, the founder of China Car Rental, said, “To abandon short-term gains in exchange for future development.â€
At present, China Car Rental is steadily advancing the franchise strategy. According to the prospectus, as of March 31, 2014, Shenzhou Car Rental has quickly established 191 franchise outlets in 152 small and medium-sized cities across the country based on the original 69 large-scale cities.
The franchise strategy is a win-win for car rental and franchisees in China. For franchisees, on the one hand, they can take advantage of the brand advantages and business channels of China Car Rental, enjoy preferential car purchase and auto finance support, help franchisees save capital expenditures and improve capital efficiency, and also obtain multiple operations provided by China Car Rental. Spend and share the information technology platform of China Car Rental.
The reason why franchisees can enjoy the convenience of renting cars in China is that China Car Rental is the largest car rental company in China. It has a huge brand and scale advantage. The high credibility of the brand can promote the franchisee business, and the procurement cost of the whole vehicle is low. It can also be enjoyed together. Shenzhou Car Rental provides customers with comprehensive car rental services, including short-term rental, long-term rental and financial leasing. According to Roland Berger, China Car Rental is the absolute leader in the market in terms of fleet size, revenue, network coverage and brand awareness.
As of March 31, 2014, the total number of car rental vehicles in China was 55,403. According to Roland Berger, as of December 31, 2013, Shenzhou Car Rental has the largest short-term rental fleet and the largest long-term rental fleet among all car rental companies in China. The scale of the Shenzhou Car Rental Team is larger than the total size of the fleet of the nine car rental companies.
For China Car Rental, on the one hand, it helps to meet customers' needs for a wider network and premium car rental experience, enhances the awareness of car rental brands in China, and can also collect franchise fees, commissions and financial leasing services from franchisees. Increase revenue.
Shenzhou Car Rental stated in its listing application document that “the revenue from the franchise arrangement constitutes a small part of our rental income and we expect it to become a large part of our rental income in the near future.â€
According to the analysis, this is a bigger strategic plan for the car rental in China. Not only to meet the needs of customers in the growing third- and fourth-tier cities, but also to quietly lay down a national network to plant seeds for future income growth. The national direct sales channel for used car sales, even for the future O2O (online and offline, franchisee stores are offline support points) strategy implementation of the chess pieces, value and growth space is huge.
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