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Media Intelligence : 2008 Intelligence
IDUSTRY REPORT #08710: CHILD CARE SERVICES CAN YOU MAKE MONEY OUT OF CHILDREN? Long day care centres require occupancy rates of at least 70% to be profi table. Staff related costs account for 65.7% of industry revenue. The Child Care Fraud and Investigations Unit are able to enter childcare premises unannounced and examine centre documents such as parent sign-in books. To be economically viable, a child care centre should have a minimum of 35 places. For every dollar spent on capital, around $33 is spent on labour and associated costs. Staff members in private centres tend to work longer hours per week than staff in community centres. Child care facilities provided on an employer’s ‘business premises’ are exempt from fringe benefi ts tax. Private child care centres have access to sales tax exemptions. Barriers to entry into this industry are medium and increasing. The Child Care Services industry is currently in a growth phase of its life cycle. The child care industry competes with nannies, with the nanny industry in Australia being worth $400 - $500 million per year. New South Wales accounts for 42% of the national market for long day child care. Average revenue per establishment is around $385,364. The Australian child care industry has expenditure of about $4.2 billion in wages per year. Over 800,000 children use government subsidised child care. Child care services compete on the basis of reputation, location, fl exibility of session times and opening hours. There are about 15,919 child care establishments within Australia. The average wage for a child care worker is $35,250. The Australian child care industry employs about 107,556 people. The industry produces over $6 billion in revenue each year. Children under 5 years of age account for around 77% of children under 12 in formal care. Children aged 0-4 years account for 96.7% of community-based long day centres The key reason identifi ed for using formal child care is ‘work-related’ which accounts for 54%. Local governments sponsor around 40% of community long day care centres. The second most common reason for using formal child care is ‘benefi cial to the child’, accounting for 24.6% . With 1000’s of industry and company reports, constantly updated, you’ll find the answer at IBISWorld - whatever the question. www.ibisworld.com.au ALL YOU NEED TO KNOW