The fast-food industry in India is growing rapidly. The new and young India wants their food on their plate in a matter of seconds, to accommodate their busy and hectic schedule. This is exactly where fast food fits in; the fundamental element of fast-food restaurants is that they can process and serve the order really fast.
One such player is Wow Momos. Now, let’s have a deeper look into the WOW! Momos franchise in India.
- The Success Story of WOW! Momo
- History of WOW Momo
- Key Benefits of Owning a Franchise of WOW! Momo
- Requirements for Starting a Wow Momo Franchise in India
- Area Requirement
- Skills Requirement
- Minimum Staff Required
- Investments – How Much Does a WOW Momo Franchise Cost in India?
- Final Words
The Success Story of WOW! Momo
A decade ago, three young college graduates bitten by the entrepreneur bug decided to take Indian street food to a different level and serve the humble momos with health, hygiene, and wholesome flavors. Welcome to the world of WOW! Momo.
Yes! from a simple start to a grand journey and an even more promising future. These are the story of WOW Momo – a fast-food chain that has revolutionized the simple dumplings and dim sums that were once popular only in the northeast of India. Today the whole country relishes these mouth-watering momos served by a brand that has about 254 outlets spanning around 13 cities of India.
History of WOW Momo
In 2008, three pass outs of St.Xavier’s College, Kolkata-Binod Homagai, Sagar Daryani, and Shah Miftaur started from a small garage in the bylanes of the congested Jadavpur area. They decided to sell momos- their traditional snack, that was making noise among the food lovers and becoming the trendy take away snack of the city.
The QSR (Quick Service Restaurant) was indeed quick enough to make waves and became popular amongst different sections of the society. People were happy to eat their favorite snack at hygienic outlets, where they were plated healthy momos with the authentic taste intact and that too at an affordable price. Dishing out momos in three varieties-steamed, pan-fried, and the fried-the venture was an instant hit and soon turned into WOW Momo Foods Pvt. Ltd.
Starting on a bootstrap budget of just Rs.30000, the three fresh entrepreneurs never thought that they would make it so big! At present, WOW Momo has 274 kiosks, of both big and medium sizes in about 13 Indian cities and churns out a fiscal turnover of Rs.200 crore.
Today you can spot a WOW! Momo outlet at Kolkata, Mumbai, Delhi, Gurugram, Noida, Faridabad, Ghaziabad, Bengaluru, Chennai, Cochin, Bhubaneshwar, Cuttak, Puri, and Rourkela.
In the coming years, the company will make its presence felt in Goa, Pune, and Hyderabad. Internationally, the company is eyeing Dubai, Gulf countries-Saudi Arabia, Kuwait, UAE Qatar, Bahrain and Oman, Sri Lanka, Bangladesh, and even Pakistan and Nepal.
Key Benefits of Owning a Franchise of WOW! Momo
- WOW! Momo is a first of its kind brand that promotes street food with complete hygiene and health factors in mind.
- The company has grown from scratch, experimenting with different ideas, market dynamics, and consumer sentiments.
- From a single outlet to 200+ outlets, the journey speaks volumes about the hard work, business acumen, and insight shown by its founders.
- The company operates with a workforce of 2000+ employees, reflecting the faith it has earned not only as a business entity but also as an employer.
- The company has elaborated its menu and introduced 14 varieties of the dish thus bringing an ‘Indianisation’ to the authentic Tibetan snack.
- WOW! Momo Foods Pvt Ltd. has expanded not only through its self-owned outlets but also through a franchise model, giving other young and budding entrepreneurs a chance to excel.
- The company is working intensively on its research and development section to bring in the latest technology where most of the production will be done through an automotive mode, thereby reducing time and scaling up production.
- WOW! Momo aims at a future turnover of 1000 crores and to penetrate deeper into the consumer market.
- The company is looking forward to launching its sister brand- WOW! China, to give Indian consumers a taste of authentic Chinese cuisine.
- WOW! Momo also looks forward to capturing the retail market with its bottled sauces and dips that are a significant hit and introduce frozen momos for the busy city workforce that is always on the go.
- In the next few years, the company aims to take a big leap and go public with an IPO.
- WOW! Momo is all set to enter the international market and carry the local taste to global consumers.
Requirements for Starting a Wow Momo Franchise in India
You need to prepare for the following things when planning to start your own WOW Momo store.
The area required to open a Wow Momo outlet is at least 200 to 250 Sq.ft. This minimum space needed for your kitchen and your counter. Your built-up area requirement may differ depending upon the location of your franchise outlet.
Individuals who are passionate and have a desire to grow and want to be a part of the fast-food industry can be the perfect fit for this business.
Your staff should have good communication skills, culinary cooking skills and should be courteous to the customers.
Yes, WOW! Momo provides all the necessary training to start your business. They offer two months of classroom and on-the-job training to all its franchise employees.
Their training includes soft skill training, customer handling, improving their culinary skills, etc. They also guide how to achieve sale target in this business effectively and efficiently.
Minimum Staff Required
At least 2 to 3 staff required to operate your WOW Momo outlet.
Investments – How Much Does a WOW Momo Franchise Cost in India?
Depending on the size and location of your WOW! Momo outlet, your investment amount will be different. To start Wow Momo franchise in your city at least 8 to 10 lakhs capital required.
Profit in business may vary for different reasons. So let’s try to understand profitability in this business in a simple example. Below estimation chart can help you to understand the profitability of this business.
|Total investment for a Momo outlet||800000 INR|
|Monthly rent costing for your (300 sq.ft) WOW! Momo Store||10000 INR|
|Salary paid to 3 employees on a monthly basis||36000 INR|
So, Total Expenses during a month is (10000+36000+4000) INR = 50000 INR
Now, let’s take a look at earning opportunities –
Suppose on average, 60 people going to order daily and your item’s average selling price is RS 150. So, the total sale value will be (60×150 INR) = 9000 INR in a day meanwhile RS 9000×30 = RS 270000 in a month.
So, your monthly gross income will be = 135000 INR (50% of 270000)
And, your actual monthly profit will be ( 135000-50000) INR = 85000
As a franchise owner in this business, you can recover your full investment amount within 9 to 10 months time frame.
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Small starts do make Big ending, and WOW Momo is a testimonial of this fact. One small kitchen has today transformed into a 200+ outlet brand that has an impressive turnover of 200 crores, and the ball is still rolling.
So if three young college dudes can change the destiny of fast food in India, how about owning a franchise of these relishing dim sums and tasting some lip-smacking success!