“The journey of a thousand miles begins with a single step.”
What started in the year 2008, in a cubicle of 200sq.ft, now has over 200 outlets across India. The journey of WOW! MOMO is inspiring for many people who wish to start their own business.
Wow! Momo is India's fastest-growing Momo chain. Started by partners Sagar Daryani and Binod Kumar Homogai the start-up now has more than 200 outlets across 13 cities all over India. The company has its headquarters in Kolkata, West Bengal. Just like any other start-up they too have dealt with a difficult phase during the initial days of their start-up. Lack of investment, lack of space, customer bonding, shortage of employees, and the list went long.
In the earlier days, the partners would dress up in their Wow! Momo T-shirt and approach every individual entering the Spencers' store to have a taste of their Momos. For the initial two years in their business, they opened many outlets in various commercial locations across the city like malls, tech parks, and hypermarkets.
Let us walk down memory lane and look towards the company's development over the years.
The year 2008- Wow! Momo opened its first kitchen in a 200 square foot rented room and paid a mere 19% of their monthly revenue share in return. This paved a way for them to open more outlets in commercial areas like malls and tech parks.
The year 2010- With an investment of Rs14 lakh, the start-up opened its first independent outlet at Sector V, Salt Lake, Kolkata, India.
The year 2011- The company opened its first branch out of Kolkata, at phoenix market city, Bangalore, Karnataka, India.
The year 2013- Wow! Momo won the award for the BEST FOOD AND AGRI PRODUCTS and also the BEST SME OF THE YEAR AWARD. Apart from this, they have won many other awards too.
The year 2019- The company earned investment of Rs 130 crore from Tiger Management. This made the net worth of the company reach Rs 860 crore.
Currently, the company has its food chain spread in Kolkata, Noida, Gurugram, Mumbai, Chennai, Lucknow, Cuttack, Puri, New Delhi, Kochi, Kanpur, Bhubaneshwar, Goa, Bangalore, Ghaziabad, and Hyderabad.
Although the food chain business has more than 16 different varieties of Momos ranging from Corn, Corn and Cheese, Chicken and Cheese, Chicken, Prawn, Schezwan and Chocolate Momos, their pan-fried Momos became their USP. The pan-fried Momos is what makes them different from their other competitors.
With more than 2700 employees, 900 people managing at the storefront, and about 700 people at the backend the company is now expanding more rapidly. The fast-food restaurant chain plans to expand its outlets in Delhi NCR, Kolkata, and Bangalore during the year 2021. They are even planning to expand their operations in Chennai, Mumbai, and Hyderabad in the next fiscal year.
Follow BizzTalk World for more news and updated from International Businesses and Start-Ups.