WOW! Momo is a quick-service restaurant that is growing rapidly in all parts of India. This is the first and only restaurant with the biggest momo supply chain. In over 250 cities, it offers their momos of various varieties and delicious sauces. Momos is a common dish in Nepal, certain areas of Tibet and India.
Sagar Daryani and Binod Homagai are the founders of Wow! Momo and established the brand in 2008. Both of them studied in St.Xavier College, Kolkata. Their success can be interpreted by the revenue they generated for Rs.120 crores for the year 2019. The business was initiated with starting investment of Rs 30,000 and within a few years, its valuation raised to crores. The brand has extended its chain in Chennai, Cuttack, Cochin, Rourkela, Puri, Bhubaneswar, Kolkata, Delhi, Mumbai, Gurugram, Faridabad, Ghaziabad, Noida, and Bengaluru. In these cities, it currently has 254 outlets.
History of Wow Momo
Sagar Jagdish Daryani and Binod Kumar Homagai from Kolkata started Wow Momo. They drew their inspiration from their love of momos and dreamt of starting a Momo business.
Sagar's parents initially invested Rs. 30,000 and with this money, the founders started their venture. They started it all in a 200 sq. ft size kitchen with one table and two hired cooks on part time basis with a nominal pay. Raw materials were taken on credit from the local grocery shop and this has become their base of emerging business.
They initially faced various obstacles and challenges because they did not know the modern new concept. But they could achieve 100 crores of revenue with their simple model of momos and marketing strategy. In July 15 and the Indian Angel Network, their first funding worth more than $2 million was launched. In addition, the forthcoming funding of Rs. 440 million was introduced in May 17. The brand was climbing the stair of success ever since and haven’t looked back.
Marketing Strategies of Wow! Momo
1. Marketing Tools of Wow! Momo:
- Initial Phase of branding Wow Momo chose the colour yellow for kiosk promotions and to organize marketing campaigns.
- They used the idea of giving momo samples to their customers which clicked instantly and which helped in their sale going up rapidly
- Social media platforms like Instagram, Facebook, Twitter etc. helped in advertising and promoting their brand further with their consumers
- Their Unique selling proposition are their pan fried momos. Both veg and non-veg momos are available. Few of their most famous momos varieties include steamed momos, chicken momos, schezwan momos and prawn momos. They even have a range of momos for vegetarians that is corn and cheese momos, mushroom momos, etc.
2. Target Customer Base
The target customer base of Wow momos are students and working professionals. They cater to this particular customer base a lot as Momo are fast easy bite food and extremely affordable.
3. Expansion Plans of Wow Momos
- The brand also aims to initiate the opening of cloud kitchens to meet its customers online using food platforms like Zomato and Swiggy.
- By 2020, 350-400 outlets were planned and Rs 300 crores turnover was also expected in terms of profits.
- More complex and diverse momo flavors are also added to the Wow Momo's menu.
- More inventions like "chilled momos," gluten-free momos for supermarkets, etc. are available in their kits. In particular in the Middle East, the brand also seeks global opportunities.
4. Varieties to offer in the Wow Momo's menu
- Momo represents a mix of consistency, flavor and diverse varieties in its exclusive product of diverse momos. Nowadays 12 different momos flavors are available in 3 types, e.g., steamed, fried and pan-fried momos. Flour variants are mostly mainly white and brown.
- They fry these momos to give them Indian tastes with various sweet or spicy sauces.
- Furthermore, they have other truths, such as Momo chats, Tandoori momos, momos fried, Momo Burgers named MoBurg. The company also carries on its menu a special dessert called 'Chocolate Momo.'
5. Wow Momo's Competition
Wow! Momo compete with street momos vendors who sell momos at a lower price. The high quality, hygiene and different flavors of momos give a competitive advantage to Wow! Momo over street vendor.
6. Reviews of Wow Momo
Wow! Momos use platforms like Zomato and etc., to help their customers to give them helpful feedback and rate their food. This in turn helps customers also to check if the restaurant is good to eat or not. Reviews help to boost the business and interact with customers. It helps to rectify any issues the customers face with quality, service and etc.
They began with an idea and this idea spread throughout the country. Your commitment to work and your passion for your goal set an example to others. The two entrepreneurs of the brand did not think much about failures when they started their business. As an entrepreneur of a startup, believing in the idea and its success is more important. The brand has proven to be able to put anyone on a path to success even with limited resources to start with.
FAQs of WOW! Momos Marketing Strategy
1. How did Wow! Momos start?
Their first outlet was a stall in supermarket. They would approach every customer asking them to sample their Momos.
2. What was the initial investment Wow! Momos began with?
The founders had borrowed Rs. 30000 from their family initially to kick start their business.
3. Who are Wow! Momos target base?
Their main Target base is working professionals and students.
4. What is Wow! Momos unique selling proposition?
Their unique selling proposition is their pan fried momos and they have different varieties of momos.
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