On April 22, 2021, the "2021 China's top 100 property service enterprises research results press conference and the 14th China Property Services Entrepreneurs Summit" was grandly held, hosted by China Index Academy and China Real Estate TOP10 Research Group, and hosted by China Index Academy Holdings (CIH) and China Index Academy.
Four companies have broken through the "10 billion revenue" mark, and the scale pursuit is getting more and more intense
In 2020, some listed property service companies have managed area and growth rate
At this stage, with the accelerated evolution of the industry structure, expanding scale has become a consensus for property service companies to develop. For enterprises, they must pursue scale and achieve success in a market with huge potential. Rapid expansion is the fundamental. From the industry's merger and acquisition boom in 2020, it can also be clearly seen that companies are striving to pursue large-scale development. From the perspective of management scale, many companies such as Xuhui Yongsheng Service, Xinchengyue Service, Jianye New Life have quickly exceeded 100 million from tens of millions of square meters in the past, achieving leapfrog growth.
As of now, the management scale of 16 listed property service companies in 2020 exceeded 100 million square meters, with the management area of Country Garden Services, Poly Property, Ya Life Group, Evergrande Property , and Collection Life exceeding 300 million square meters, 13 companies have management areas ranging from 30 million square meters to 100 million square meters, and a few companies have less than 10 million square meters; the scale growth rate of these companies is mostly above 30%, and the pursuit of scale among enterprises is becoming more and more fierce. In 2020, the revenue of the four listed companies exceeded 10 billion yuan , among which Country Garden Services, Evergrande Property, Greentown Services , and Ya Life Group achieved revenue of 15.60 billion yuan, 10.509 billion yuan, 10.106 billion yuan and 10.026 billion yuan respectively.
During the 14th Five-Year Plan period, it has doubled its efforts and rapid growth. The market share of the top 10 companies is expected to exceed 30%
The overall development of the property management industry is equivalent to the real estate industry ten years ago, and the growth trajectory of the top 10 property top 10 property market share and the growth trajectory of the top 10 real estate top 100 real estate market share also confirms this. For property service companies, if they want to catch up with the development accumulation of real estate in the past ten years during the "14th Five-Year Plan" period, based on the market share of the TOP10, the share of the TOP10 top 10 property companies must reach 27.5% of the current TOP10 real estate companies. By 2025, the total area of the TOP10 top 10 property companies will need to reach nearly 9.6 billion square meters.
According to the current merger and acquisition actions of leading companies, the top 100 top 10 property companies are expected to continue to maintain high-frequency acquisitions in the next five years, so the management area is likely to maintain rapid growth. We assume that the TOP10 companies continue to grow for five years according to the growth rate in 2020 (27.57%). It is estimated that by 2025, the total management area of the top 100 property companies is expected to be nearly 9 billion square meters, basically achieving the goal.
At the same time, it can also be seen that some top 10 companies have announced their growth goals and development plans for the next 3-5 years, and have taken the lead in taking the lead in taking the lead in the trend of "taking the lead". If we estimate based on the development goals of these companies, by 2025, the market share of the top 100 property companies in management areas will be fully expected to reach 27.5%, catching up with the ten-year accumulation of the top 10 real estate companies. Therefore, what property service companies need to do is to accelerate their running, and strive ten times more to seize various development opportunities during the 14th Five-Year Plan period, and welcome the best golden decade in the industry.
takes residential as the basic foundation and based on service and resource advantages, it has widely deployed commercial office, public construction, urban services and other fields
In recent years, with the increasing competition in the residential field, more and more property service companies have extended their advantages from residential formats to open up new services and profit space. Non-residential properties have many advantages such as large market size, high average property fee price, high collection rate, and relatively easy price increase, and have become a field for many property service companies to layout.
Excellent property service companies actively carry out in-depth strategic adjustments and business format extension layout. Relying on their years of accumulated property service experience, good reputation and resource endowment, etc., they enter the sub-track tracks such as commercial, office, industrial parks and transportation hubs through bidding, mergers and acquisitions, and cooperation; at the same time, they actively undertake property management services related to government agencies, state-owned enterprises, public institutions, etc., and continue to deepen the layout of the entire business format.
Currently, the competition pattern of non-residential business formats is scattered, the types of business formats are relatively diverse, the service requirements are different, and there are certain resource and technical barriers between various sub-sectors, and the entry threshold is relatively high. Commercial and office buildings have become the first direction for many companies to focus on. Public building formats represented by schools, hospitals, etc. have different levels of marketization of property services, and vary greatly in development pace, and there is a large room for integration.
Non-residential property service objects and service content are more complex, and there are differences in service standards and value-added service types in various business formats, which poses higher challenges to the business coverage breadth and management capabilities of non-residential property management companies. Property service companies with rich experience are more favored.
In the process of promoting "city refined management", property service companies enter urban services emerged. At present, the main service contents of urban services include municipal gardens, urban and rural sanitation, municipal facility management and maintenance, environmental governance, old community renovation, , logistics services, etc. Most property service companies mainly enter the urban service field through sanitation business, and in terms of entry methods, they also explore the blue ocean of urban service through mergers and acquisitions or strategic cooperation with local governments.
Focusing on "space, assets, people", it explores diversified value-added services
Faced with the rapid evolution of market environment and competitive pressure, property service companies, on the basis of providing basic services, actively focus on the "people", "things" and "space" in the community, lay out diversified value-added services, to facilitate the lives of owners, and highlight the value of the "last hundred meters". The increase in the types of value-added services also helps property service companies to grow rapidly in diversified operating income.
At present, the value-added services carried out by property service companies can be summarized into three categories: the first category is community life services that focus on the living needs of owners; property service companies usually use community service platforms as a hub to open up online and offline, improve channels and supply chain capabilities, and provide owners with community retail, group buying, housekeeping services, catering and other services; the second category is operation and management services around owners' assets; for owners' houses, cars and other assets, they provide house agents, home decoration , car maintenance and other businesses; the third category is to make full use of idle space in the community, such as entry and exit passages, garages, elevators, self-service vending machines, etc., to revitalize community resources, increase space resource business income, and share income with owners.
Some property service companies provide value-added service details
With the increase in non- residential projects in enterprise management formats in recent years, driven by the rich property service formats and diverse value-added service needs, the types of value-added services are also more diverse. It is not only limited to providing diversified and convenient life services to owners and residents, but more and more companies extend their service tentacles to merchants and enterprises served in non-residential scenarios. In non-residential scenarios, the price affordability and payment ability of the service object are much higher than that of the residential owners. Property service companies can provide more services, higher incomes, etc., and have huge development potential.
Based on the base area, penetrate cities within the region, and sink to county markets
In 2020, property service companies will focus on key cities, deepen their cultivation and deepen their in-depth development. For larger enterprises, the local market share has been high, and we have begun to focus on other regions to deepen our efforts.For small and medium-sized enterprises, while based on their existing advantageous areas, actively expanding and penetrating surrounding cities, making steady progress, and gradually increasing regional density can also lay the foundation for the future development of value-added services. Whether for large enterprises or small and medium-sized enterprises, focusing on high-quality and advantageous regional density has been raised from a strategic level by more companies. In addition, sinking into county markets has also become an important means to deepen regional management density.
In the long run, the basic service capabilities and profit levels of enterprises in the industry may be significantly different due to different service density. Service density is related to the optimization space of the intensive management of property service companies at the cost side, and also to the "bargaining" ability of the company in specific cities. Currently, the average management area of the top 100 enterprises in a single city exceeds 1.4 million square meters, and there is still room for further improvement in the future.
integrates resources and cultivates "concerned" and "needy" value-added services
Faced with the rapid evolution of market environment and competitive pressure, property service companies have taken in-depth exploration of value-added service business as an important engine for profit growth, integrated various resources, and developed community value-added innovative service projects, such as life services, fitness services, elderly care services, cultural and educational services, smart community solutions innovatively launched by community value-added service projects. Non-owner value-added services are represented by previous intermediary services, co-sales services, case-site services and consulting services. At the same time, we selectively expand key businesses, which will drive a steady increase in the proportion of value-added services revenue and profits.
Only the closest services can gain the trust of owners, and the life service business in value-added services is closest to the owners' hearts and closes the relationship with owners. By deeply touching various scenarios in community life, focusing on life service business, and creating a "concert and intimate" user experience. In the future, property service companies should seize the advantages of "people + field" and provide more considerate and trustworthy services. Services built on the trust of owners and services that are truly valuable and can be carried out in the future.
Be professional, strengthen the brand, and build service barriers
In addition to deepening business in terms of regional and value-added services, some enterprises, especially property service companies in sub-sectors, focus on sub-sector business formats, concentrate their advantageous forces and resources, and deeply explore the sub-sector markets such as school property, hotel property, office property, public property, hospital property, etc. through business focus and deepening, and gradually form their own business model and service characteristics.
Strengthen the team, improve the mechanism, release the potential of talents
With the development of the society and the improvement of the service quality requirements of residents, property service companies are more focused on strengthening the emotional connection between service personnel and residents, and increasing user stickiness with professional and warm services, which is mainly reflected in the introduction, absorption and cultivation of outstanding talents, improving personnel quality, and increasing talent team building.
mechanism is the key guarantee for the implementation of high-quality services for property service enterprises. In recent years, while expanding its scale, property service companies have continuously strengthened the establishment of various mechanisms, such as organizational structure updates, salary incentive mechanisms, talent training mechanisms, business management mechanisms and supervision and assessment mechanisms, which are conducive to the formation of scale effects and rapid replication of standardized services and promotion.
service system is standardized and three-dimensional, and the service quality is upgraded in all aspects
As the department that contributes the most to the income of the four major business segments of property service enterprises, the basic property service sector directly reflects the ability and level of property service enterprises to serve customers. In recent years, in order to quickly digest and integrate newly developed projects, property service companies have standardized and managed various services, and continuously upgraded their service concepts to form a standardized and three-dimensional multi-level service system.
intelligence and platformization form a joint force to build systemic service capabilities
technology and value-added services are mainly reflected in the aspects of digital management, intelligent service, platformization, etc. Property service companies are based on the Internet and big data Internet of Things and other technologies to connect online and offline networks, and by building an intelligent service platform, they improve user experience and achieve cost reduction and efficiency improvement.
In the future, property service companies will increase the application of IoT, AI technology, etc., actively promote the construction of smart communities, explore the application of new technologies, and provide owners with intelligent products and intelligent services by establishing accurate user portraits.
Property management industry is accelerating into the golden age. In the changing property management market, enterprises need to use forward-looking vision and active and efficient self-regulation, refer to the experience of outstanding companies in the industry, clarify their own positioning, find the balance point of the four dimensions of "speed, breadth, depth, and thickness", and follow the correct development path to win the opportunity to break through successfully and move forward steadily.
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