The population of the suburb of Oak Park was in the 2011 Census, 5771, consisting of 49.6% male, and 50.4% female, provided by the Australian Bureau of Statistics (ABS). Within the population of the Oak Park area the percentage of Children aged 0-4 years, 6.4% (in 2012), children aged 5-9 years 5.0%, and children aged 10-14 years 5.6%.
Although, the percentage of children/infants aged 0-4 years, which is kindergarten/preschool ages is significantly low due to the small geographical area of the suburb and also the data conducted by the Australian Bureau of Statistics is outdated by three years. Adding the additional years to the region will most likely consist of a rise in population, increasing the percentage of 6.4%.
The following table shows the average Australian family categorized by couples with and without children, single parents, and other.
The population's median age for Oak Park is 1 year below the average in Australia, of 36 years. The percentage of Australian born residents living in Oak Park is 65.5%, other responses for this area were, India (3.9%), Italy (3.2%), China (2.8%), Turkey (1.7%) and England (1.6%). The multicultural diversity of the area suggests that a cultural Childcare centre would be beneficial to this area.
The population growth rate will show a rise. Due to the fact that the majority of the population for Oak Park was 9.1% shown in the Australian Bureau of Statistics, September 2013, Australian Demographic Statistics.
Within the suburb of Oak Park there are approximately 4 known established/operating Child Care Centres. This is including the region of Oak Park and surrounding suburb Glenroy (3046, VIC).
- Oak Park Children’s Centre
- Pearl Street Child care Centre
- Kindaland Child care
- Goodstart Learning Glenroy
The two highest competitors for Knowledge Plus Property Group would face in this particular area would be the local Oak Park Children’s Centre and Goodstart Learning Glenroy.
Oak Park Children’s Centre would be a significant threat to any new establishing child care facility, due to the fact that it is a local business that has been in operation since 1997. There reputation of having a calm environment, making children feel comfortable in their surroundings, is something they strive for. Children are encouraged to grow as they state.
Goodstart Learning however, is a much higher competitor. Goodstart Learning is a nationwide known organisation which is run by non-profit organisations, such as, Mission Australia, Social Ventures Australia and the Benevolent Society. Goodstart Learning would be a significant threat/competitor to any new establishing child care centre, these reasons being that it is nationally known, parents and families know what is expected as a whole with this organisation and the learning standards. If a family was to move states, New South Wales to Victoria for example, taking their child from a Goodstart Learning Centre and program to another foreign program might cause them difficulties with their learning habits, though being placed into a similar environment and learning structure the transition will be much easier due to the reputation Goodstart learning has equired. Goodstart learning would also remain a high competitor because of their reputation of being good and extensive. Children are taught about the environment and how to sustain it, through making vegetable gardens; they experience music of different cultures as well as arts.
Map of the Area
Map of Child Care Centres in Oak Park and Glenroy (neighbouring suburb).
Map of surrounding Primary Schools and Kindergartens.
The data given in this report to Knowledge Plus Property Group regarding the potential investments into Child Care funds will help determine the potential risk/no risk outcome of the decision. The data shown shows clear comparisons of population records, as well as a sound competitive analysis, the visual maps and table show clear indication of the surrounding areas of schools. Graphs indicating a potential rise in population due to the significant age group at 25-29 years of 9.1% of the local population, thus inducing a new generation is most likely.
The recommendation concluded from this data report would be that investing in a Child Care Centre would not be a financially viable risk to undertake in this particular area. The justification of this would be due to the fact that the suburb of Oak Park and surrounding demographics. The population does not have a sufficient percentage of the targeted aged group to successfully accomplish as a new establishment. Having a local operation and a nationally known organisation as competitors it would not be a profitable investment.
Oak Park profile - Moreland City Council, Victoria, Australia. 2014. Oak Park profile - Moreland City Council, Victoria, Australia. [ONLINE] Available at:http://www.moreland.vic.gov.au/about-moreland/demographics-statistics/suburb-profiles/oak-park.html. [Accessed 22 March 2014].
Child Care Centre in Oak Park, VIC Australia - locate a Child Care Centre near you using Careforkids.com.au . 2014. Child Care Centre in Oak Park, VIC, Australia - locate a Child Care Centre near you [ONLINE] Available at:http:www.careforkids.com.au/child-care-centre/oak-park/3046 [Accessed 24 March 2014]
3101.0 - Australian Demographic Statistics, Sep 2013. 2014. 3101.0 - Australian Demographic Statistics, Sep 2013. 2014. [ONLINE] Available at:http://www.abs.gov.au/ausstats/abs@.nsf/mf/3101.0/ [Accessed 25 March 2014]
3235.0 - Population by Age and Sex, Regions of Australia, 2012. 2014. 3235.0 - Population by Age and Sex, Regions of Australia, 2012 [ONLINE] Available at:http://www.abs.gov.au/ausstats/ans@.nsf/Products/3235.0¬2012¬Main+Features¬Main+Features?OpenDocument [Accessed 27 March 2014]
2011 Census QuickStats: Oak Park. 2014. 2011 Census QuickStats: Oak Park. [ONLINE] Available at:http://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/quickstat/SSC21046?opendocument&navpos=220 [Accessed 28 March 2014]
Goodstart - Looking for childcare. Goodstart early Learning. 2014. Goodstart - Looking for childcare. Goodstart early learning. [ONLINE] Available at:http://www.goodstart.org.au/looking-for-childcare/searching-for-childcare [Accessed 29 March]