A 24 hour daycare facility in Malta : a good business opportunity?

Abstract

The aim of this study is to determine whether the business world has a market for a 24 hour 'daycare' centre in Malta, this being in conjunction with the fact that within our society more and more women are going out to work after they have their children. The demand for daycare during typical hours is definitely on the increase, however, will extending provision of those hours by the supply of 24 hour daycare facilities, be a viable business that will gain success on the market? Will it be a good business opportunity? Can society afford it? Or better still, are people willing to pay for it ? Determining the demand for 24 hour childcare facilities is only one facet of this study. In Chapter 2 one will be able to view the different facets to what it entails to open a childcare centre and also, to start a business that is not only a relatively new concept in Malta, but also one which may be very challenging as it aims to open with extended hours, as well as one which will later operate as a 24 hour childcare centre. This chapter will also illustrate the different laws and regulations that one needs to abide by in order to open a business of this nature. Matters looked into include: the premises, which need to be approved by the Regulatory Board MEPA; the quality of childcare being offered; and that the staff employed, need to be in conformity with the standards drawn up by the Department for Social Welfare Standards. Another facet which the study aims to determine, is the optimum location of the business, this having been done through primary research which is analysed in Chapter 4, in order to determine just how big the demand for 24 hour childcare is. In Chapters 4 and 5, the results from the research carried out are presented and analysed. The demand for the business is also analysed. The operations and management of the business will also be looked into and discussed, gathering the qualitative information from both local entities and also a Swedish childcare centre that is currently in operation. The challenges and limitations that are encountered when operating this type of daycare facility and the expected type of expenses that would be incurred to run this business are also discussed. Quantitative data is used in order to investigate the running of a 24 hour daycare facility in terms of costs. The study aims to portray the different aspects to a business opportunity and the viability of a 24 hour daycare centre. It also takes a closer look at what the parents in Malta think about the whole concept of the availability of 24 hour child care facilities and whether they would make use of such facilities. Would it be of any use to parents and would it facilitate going back for some of them? Research was carried out in a systematic way and through the data collected, which was both primary and secondary data, this data was analysed and the study aims to portray both qualitative and quantitative analysis, in order to determine whether a 24 hour daycare facility is a good business opportunity in Malta?