Opportunities in Peer to Peer Dining: Experience the Grandeur of Home-Cooked Meals Away from Home

2024-02-13 07:16:03 Business

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It is safe to say that the millennial generation can be given a new, far catchier name- the ?sharing generation?. It was to cater to their tastes that the ZipCar car sharing service was started in 2000 and Airbnb as an online marketplace and homestay network in 2008. Peer-to-peer sharing as a business model is truly novel and would have been unthinkable more than two decades ago. Uber soon followed and revolutionised the ride-sharing industry. This has proven popular not only in the developed world but in developing countries as well. The concept of sharing ideas, experiences and information also led to its implementation in another major component of our daily lives ? dining! It follows ?home-sharing? or ?car-sharing? companies in its approach. It allows an individual, usually a local, to open their homes and invite strangers to enjoy home-cooked meals in exchange for a small fee.

Just like other P2P sharing sites, websites offering peer to peer dining services list themselves as communities which allow users to interact, buy and sell their food-related experiences. In the simplest possible terms, peer to peer dining means sharing homemade meals with strangers for money. It first came onto the scene in late 2013 and while a few early offerings have closed down as of 2016, some have been acquired while others are still rapidly expanding. With options targeted at both frequent globe-trotters and locals alike, it has never been easier to take advantage of peer to peer dining than it is today.

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Peer to Peer Dining: Sector Drivers

The rising popularity of peer to peer sharing portals like Airbnb will boost the peer to peer dining sector. Millennials, in particular, have very different tastes when compared to generations before them. They like to sample the local cuisine, understand the cultural and gastronomical heritage of any place and also make some new local friends in the process. The fact that Peer to peer dining is substantially more cost-effective than restaurants doesn?t hurt its appeal either.

Peer to Peer Dining: Sector Restraints

There can be two main challenges faced by companies involved in the peer to peer dining sector. They are safety and legality. It can definitely be risky inviting complete strangers into your home for a meal and it is perfectly understandable if people are wary of the concept. However, a little vigilance, common sense and background verification on the community profile will go a long way towards reassuring both hosts and their guests. The second big question is that of legal issues. Peer to peer dining is a relatively new idea which does not have any laws as such to govern it. Peer to peer dining can never have major legal issues since it is like inviting friends to your home for a social visit and not like running a restaurant, which would need health code and other legal authorizations as any other business.

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Peer to Peer Dining: Key Regions

Peer to peer dining has global appeal and is not concentrated in a particular region as such. However, Feastly is primarily popular in the U.S, Travelling Spoon in Asian nations and EatWith and VizEat in Europe.

Peer to Peer Dining: Key Players

Some companies offering a peer to peer dining experience are Eatwith, Mealsharing, Bookalokal, Feastly, Traveling Spoon, Cookening, and VizEat.

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