Early 19th-century orphanages and other facilities were built to care for kids whose parents couldn’t support them, which is when daycare first emerged. However, daycare facilities didn’t start to become a common choice for working parents until the middle of the 20th century.
After World War II, there was a sharp rise in the number of women joining the workforce, which led to an increase in the need for childcare services. The need for daycare facilities increased dramatically as more and more moms started working outside the home.
In 1969, Perry Mendel established KinderCare, one of the first and most well-known daycare companies in the country. In the United States and Canada by the 1980s, KinderCare operated over 700 sites. However, KinderCare never went public despite its success. In 1989, a private equity firm purchased the corporation, and since then, several other parties have owned it.
Today, Knowledge Universe Education, which is controlled by the financial company Partners Group, is the owner of KinderCare. More than 185,000 kids are served by the company’s 1,400+ locations around the country.
With an estimated 1.3 million kids receiving formal childcare, Australia’s daycare market is likewise rising. The Australian Childcare Alliance’s 2019 survey found that the typical annual pay for a childcare entrepreneur is roughly $70,000 AUD. However, depending on the center’s size and location, this can vary significantly.
Australian childcare facilities can generate a sizable profit. IBISWorld estimates that the Australian childcare services sector will produce $13.5 billion AUD in sales in 2020. As more parents look for high-quality daycare options for their kids, this is anticipated to expand throughout the ensuing years.
In conclusion, the rise of daycare can be ascribed to the increased demand for trustworthy and secure childcare services among working parents. The daycare sector is still thriving today in both the US and Australia. KinderCare was one of the first and most well-known daycare businesses in the US. Although the pay for childcare business owners might vary greatly, the sector as a whole is profitable and has a considerable income potential.