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 its momos of various varieties and delicious sauces. Momo is a common dish in Nepal, certain areas of Tibet and India.
Sagar Daryani and Binod Homagai are the founders and owners of Wow! Momo established the brand in 2008. Both of them studied at St. Xavier College, Kolkata. Their success can be interpreted by the revenue they generated for INR 120 crores for the year 2019.
The business was initiated with starting investment of INR 30,000 and within a few years, its valuation raised to crores. Wow! Momo extended its franchise in Chennai, Cuttack, Cochin, Rourkela, Puri, Bhubaneswar, Kolkata, Delhi, Mumbai, Gurugram, Faridabad, Ghaziabad, Noida, and Bengaluru. In these cities, it currently has 254 outlets.
How was Wow! Momo Started?
Sagar Jagdish Daryani and Binod Kumar Homagai from Kolkata started Wow! Momo. They drew their inspiration from their love of momo's and dreamt of starting a Momo business.
Sagar's parents initially invested INR 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 a 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 momo and marketing strategy.
On July 15 Wow! Momo raised their first seed funding of $100 million led by the Indian Angel Network. In addition, in 2017 they raised $440 million led by Lighthouse Funds. The brand was climbing the stair of success ever since and hasn’t looked back.
Marketing Strategy 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 their sales go 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 is their pan-fried momo's. Both veg and non-veg momos are available. A few of their most famous momo's varieties include steamed momo's, chicken momo's, schezwan momo's and prawn momo's. They even have a range of momos for vegetarians that is corn and cheese momo's, mushroom momo's, etc.
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Target Customer Base of Wow! Momo
The target customer base of Wow Momo is students and working professionals. They cater to this particular customer base a lot as Momo is fast easy bite food and extremely affordable.
Expansion Plans of Wow! Momo
- The brand also aims to initiate the opening of cloud kitchens to meet its customers online using food platforms like Zomato and Swiggy
- By 2021, 350-400 outlets were planned and INR 300 crores turnover was also expected in terms of profits.
- More complex and diverse Momo flavours are also added to the Wow Momo's menu.
- More inventions like "chilled momo's," gluten-free momo's for supermarkets, etc. are available in their kits. In particular, in the Middle East, the brand also seeks global opportunities.
What Sets Wow! Momo Apart from others?
Wow! Momo competes with street momos vendors who sell momos at a lower price. The high quality, hygiene and different flavours of momos give a competitive advantage to Wow! Momo over the street vendor.
Momo represents a mix of consistency, flavour and diverse varieties in its exclusive product of diverse momo's. Nowadays 12 different momo's flavours are available in 3 types, e.g., steamed, fried and pan-fried momo's. Flour variants are mostly mainly white and brown.
They fry these momo's to give them Indian tastes with various sweet or spicy sauces.
Furthermore, they have Momo chats, Tandoori momo's, momo's fried, Momo Burgers named MoBurg. The company also carries on its menu a special dessert called 'Chocolate Momo.'
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Reviews of Wow! Momo
Wow! Momos use platforms like Zomato, Swiggy 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.
Wow! Momo's founders began with an idea and this idea spread throughout the country. Your commitment to work and your passion for your goal set an example for 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.
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How was Wow! Momo started?
Their first outlet was a stall in the supermarket. The founders Sagar Daryani and Binod Homagai would approach every customer with momo samples asking them to try their momos.
What was the initial investment Wow! Momos?
The founders had borrowed INR 30,000 from their family initially to kickstart their business.
What is Wow! Momos unique selling proposition?
Their unique selling proposition is their pan-fried momos and they have different varieties of momos.
Who are the competitors of Wow! Momo?
One of the biggest competitors of Wow! Momo is Roll Mafia.
What was the origin of Wow! Momo?
The origin of Wow! Momo's was in Kolkata. The founders started making momos in a small kitchen which was a garage with an investment of Rs 30,000.