Momos one of the most popular fast food are believed to have originated in the 14th Century. Its origin are considered to be Nepal and Tibet where they are very popular. Momos are the first dish that comes to mind when we think of India's fast-food business, which has been around for over a decade. This food is designed for busy travellers, commuters, or workers who have a shortage of time to sit down and have their meal properly in a restaurant. This renowned Nepalese dish is popular throughout India.
Did you know? Momos first appeared in India in way back in 1960s when Tibet People came to India. The first Momo stall was established in 1994.
A Brief History of Wow! Momo
- Wow! Momo restaurant is a Kolkata, West Bengal-based Quick Service Restaurant (QSR) or Indian fast-food franchise.
- This restaurant specialises in momos, or dumplings, which are widely consumed in Tibet, Nepal, and India.
- In 2008, Sagar Daryani and Binod Homagai founded the company. They are friends and former classmates from Kolkata's St. Xavier's College.
- Wow! Momo is now available in Kolkata, Delhi, Mumbai, Noida, Gurgaon, Bangalore, Chennai, Kochi, Lucknow, and a number of other cities.
- Wow! Momo has over 200 locations in 13 cities across the country. Wow! Momo was started with an initial investment of ₹30,000.
- Their adventure began in a modest kitchen with only one table and two part-time cooks. They hired a modest Kiosk in cooperation with a neighbouring retail establishment within a few months.
- Within two years, the Wow! Momo kiosk had become a local favorite.
- As a result, hypermarkets in the area approached Sagar Daryani and Binod Homagai and offered them a rental kiosk space in their stores. This is where the Wow! Momo chain got its start.
What is the USP of the Wow! Momo Franchise?
1. Variety of Momos- Wow! Momo offers a variety of momo fusions well-liked by all of its consumers. Pan-fried momos, steamed momos, sizzler momos, deep-fried momos, butter masala momos, tandoori momos, baked momo au gratin, and moburg are some of the types of momos they make (momo burger).
2. Customer is King- "The customer is always right, and they must be delighted." This is the most important rule followed by Wow! Momo. The brand ensures that every customer is treated with the utmost care and that their meal is of the highest quality. This can only be accomplished if the organisation has consistently innovated over time, retaining customer loyalty.
Wow! Momo has a long history of developing new and imaginative items such as Moburg, Chocolate Momo, Momo Aug'ratine, etc. In order to keep their clients devoted to them, they design products for particular occasions, such as Valentine's Day. Wow! Momo introduced rose-shaped chocolate momos to provide their consumers with a unique way to celebrate love.
Also Read: Smart Franchise business opportunities in India
Benefits of Owning a Wow! Momo Franchise
Some of the benefits have been given below-
- It involves less investment as compared to owning a franchise of other fast-food chains
- Momos have prices that can be easily afforded by everyone
- Wow! Momos specialise in a variety of momos with a distinct flavour profile well-liked by Indian clientele.
- Since 2008, Wow! Momo restaurant has been well-known, distinguished, and has a strong brand identity.
- Owning a Wow! Momo franchise can lead to a higher return on investment.
Application Procedure for Owning a Wow! Momo franchise
The application procedure has been given below stepwise:
- Visit the official website of the company and read the terms and conditions about the franchise process.
- Fill out the application form with basic details like name, address, investment amount, etc. and submit it.
- Relevant documents will also have to be uploaded, such as Aadhar, PAN, etc.
- After this, verification will be done by Wow! Momo, which can take a few days.
- Financial documents and KYC needs to be submitted to complete the onboarding process if approved.
Requirements for Owning a Wow! Momo Franchise
- Space: A typical Wow! Momo location would require between 250 and 300 square feet. However, a kitchen and a counter should be included in this space. Malls, kiosks, and tech parks are all good options to obtain this space.
- Number of Employees: Ideally, 2 to 5 employees would be required to manage the work efficiently.
- Training: Wow! Momo offers sufficient on-the-job training, particularly in areas such as soft skills, customer service, and meeting sales targets. All franchise employees receive this training for two months. No additional costs need to be incurred for training as it is already included in the Wow! Momo franchise fee.
- Skills: The skillset required to own this franchise is the bare minimum. It includes the following:
- 10th Pass
- Individuals with good communication skills.
- Culinary experience will be an added bonus.
What is the Wow! Momo Franchise cost in India?
The approximate cost that would be required to start a Wow! Momo Franchise in India would be ₹8 Lakhs to ₹20 Lakhs. A variety of circumstances would determine the exact quantity. Consider your application, location, investment, and so on. For an accurate figure, we recommend contacting Wow! Momo.
It's worth noting that they charge a one-time registration cost of ₹25,000. This price is not included in the Wow! Momo franchise fee. The franchise contract is for three years, with the possibility of renewing at the contract's end.
Is the Wow! Momo Franchise profitable?
Although the profitability will be based upon a number of factors, it can be understood by the example given below:
|
Total Investment Required |
₹8,00,000 |
|
Expenses Incurred Salary to 4 employees per month |
₹40,000 |
|
Rent Paid for 300 sq. ft. of area |
₹10,000 |
|
Miscellaneous Expenses |
₹5,000 |
|
Total Expenses |
₹ 55,000 per month |
|
No. of customers who order momos(Approx) |
50 persons daily |
|
The average amount of orders by each customer |
₹200 |
|
Total Income on a daily basis |
50*200 = ₹10,000 |
|
Monthly Income |
₹ 3,00,000 |
|
Gross Profit (50%) |
₹1,50,000 |
|
Total Profit after deducting monthly expenses |
₹95,000 |
Also Read: Which Are The Most Profitable Franchises in India?
Conclusion
Wow! Momo is offering you the chance to start your own business and grow with them. It is not necessary for only foodies to consider starting a restaurant; anyone seeking a lucrative chance in the culinary industry can consider this franchise. With a small initial cost and a great return on investment, the brand will present you with numerous chances. We hope this article has given you the relevant information about opening a Wow! Momo Franchise as well as the Wow! Momo franchise cost.
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