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Stephen Mayne

đŸ‘€ Speaker
1640 total appearances
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Appearances Over Time

Podcast Appearances

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

There were a couple of brothers who were good tennis players, and I think Andrew Phillips also played footy for Carlton.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

They sort of grew up in our area, and they used to run clinics at tennis clubs, and they got so swamped on school holidays with parents dropping their kids in supposedly for tennis lessons, but it was actually childcare.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

It was effectively what they were offering.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

And they said, well, this is not a bad business, and that's how Camp Australia got born.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

And then they sold it for $300 million to private equity firm Bain just before COVID.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

And then Bain went broke because all the schools were shut during COVID.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

But yeah, a couple of tennis coaches discovered there was a massive demand for childcare with tennis clinics during the holidays and then turned that into a national business that was sold for $300 million.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

They've actually got a really good Phillips Foundation.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

They actually do great work.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Oh, there you go.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Yeah, it was interesting how it started.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

That's right.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Now, Clark says, great podcast.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

I bought a coffee while transiting through Sydney Airport last weekend and got stung.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Not a fan.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

How have these surcharges crept into normality?

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

And are they justified at a random flat rate?

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Imagine the outrage if Coles, Woolies or Bunnings implemented weekend surcharges.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

If I were them, I would certainly be considering it as it now seems to be standard practice.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Well, you do get lots of weekend surcharges in hospitality.