FoodByUs: An Online Homemade Food Delivery Platform

Company: FoodByUs
Essay

FOODBYUS:
FoodByUs launched in Sydney in 2013 for the purpose of providing online food services
to the local people in their community. Company is working as an online middleman for the person
living in Australia. FoodByUs provides good quality homemade food products to the customers at
low price (Timeout, 2018). Basically it is an electronic food sharing platform. They delivered the
product sometimes for a cost and sometimes free at their door step and offering a wide range of
varieties in food from cakes to curries and more. The aim of the company is to give “people the
chance to sell their amazing homemade food” as well as giving “buyer the chance to have an
authentic experience of homemade food”.
The supply depends on the demand of product in the economy (Startup Smart, 2018).
They are providing the opportunities for those people who love to cook food and who are passionate
for cooking. They are providing employment to many people with the flexibility of working part
time or full time. In this type of market there exists consumer sovereignty that means government
will not decide the consumption of goods and services; consumer will himself decide about it
(Larder, Lyons and Woolcock, 2014).
The supply and demand concept is always applied in the economy as it is one of the
fundamental concepts. As the law of demand states that consumer will buy more of a commodity
only when its price is low and vice versa. The law of demand operates here also as FoodByUs is
providing low cost products to its customers. Similarly seller prefer to sell their goods at a higher
price so that they can earn higher amount of profit as law of supply states that as price increases
quantity supplied also increases and vice versa(Trostle, 2010). Price is decided in the market on the

basis of the market forces that is demand and supply. Elasticity is also dependent on the price and
quantity factor. There is an intense competition in the online food delivery market. There exists
large number of sellers in the market and offering the variety of services and products with
innovative ideas. FoodByUs also has many competitors like Foodara, UberEats etc.
FoodByUs has not only affected the online food services but also affected the restaurant’s
profitability and earnings. Due to competition restaurants keep their cost as low as possible giving
discounts and rebates. However, due to heavy discounts, restaurants have to decrease the quantity
and they are compromising with the quality of their food well as (Ferguson, O'dea, Chatfield,
Moodi, Altman, and Brimblecombe, 2016).
Online consumer rating provides a good basis to the customers to select good restaurants.
Consumers rely on ratings given to these online food delivery companies. Quality control standards
are maintained to have a good relation between the consumer and the seller. FoodByUs provides the
homemade food to the people and works as a linking pin between them. The ratings of FoodByUs
are high which signifies that good quality food is being delivered to the customers.
FoodByUs provides a platform where cooking turns into dollars and people have to work
according to their convenience and people need not be professional. This type of online chains
provides employment to the people in Sydney as they can do this work from home and this business
does not require a huge amount of investment to start. In this form of business there are less chances
of downfall in the market as people will not stop the consumption of food. The growth rate i.e. GDP
of country increases because of this type of food chains in country. Earnings of the individual
worker are increasing so ultimately it will increase the growth of the country (Lee, Kane, Ramsey,
Good, and Dick, 2016). Shared economy gives rise to the independent workers in the country and