Wow Momo! is a chain of fast-food restaurants with its headquarters in Kolkata. It is a popular name in the startup sector. The success story of this Indian chain is very inspiring, and very soon, they aim to compete with the world’s top players- Domino’s and McDonald’s. They specialize in momos (a type of dumpling popular in Nepal, India and Tibet), MoBurgs and desserts based on momos. At present, Wow Momo! serves in 17 Indian Cities.
The foundations of Wow Momo was laid in 2008, when two undergraduate students- Sagar Jagdish Daryani and Binod Kumar Homagai, pitched in Rs 30000 of their own to open a stall in Spencer’s store. And they never looked back since. Later they were joined by Shah Miftaur Rahman. This team worked together, focusing both on the brand image, quality control and financing.
Looking at the company’s growth, many big firms such as Fabindia and Tiger Global Management started investing in it. Even during the pandemic, they didn’t lose hope and formed a strategic alliance with Café Coffee Day. Today the company stands at a net worth of Rs 860 crores.
Starting from scratch, the founders entered riches. Initially, they used to sell steamed momos, but today they have a large number of varieties. This is because the founders love experimenting with flavours to offer the best and unique quality.
They worked hard, had their struggles. They didn’t have money for transportation; they had to travel through autorickshaws throughout the city. Waking up at 5:30, buy groceries, looking for places to open their stalls, the journey wasn’t easy for them. But, their secret to success would surely be simplicity, passion and hard work. They still work hard, as they used to, because they aim to script history!
Some key points for them to be so successful would be: -
- Having a solid team with excellent coordination.
- Focusing on customer needs
- Innovating new recipes to keep customers glued to their brand
- Taking risks- because they believe that the bigger risk would be not to take any risk
- Advertisements- organizing campaigns, social media interaction
- The idea of giving Momo samples helped their sales go up rapidly
- USP- pan-fried momos worked well for them
- Their competition at present are street vendors, and compared to them; their prices are high
- Teaming up with Zomato and Swiggy, they have a sound feedback system.
The startup story of Wow Momo! can be an inspiration for so many people who have a passion for working on their businesses. It’s not about having a vast lump sum of money or a lot of technicalities. What one needs is- dedication and creativity. Sagar and Binod, in their childhood, would have never thought about being so successful in this industry or even dreaming of opening up a food chain company. But it’s just a matter of the right time when something clicks on you, and you work on it with all you have to go, with a do-or-die attitude.
The future of Wow Momo! is bright, and their aim to be popular all over the nation would surely be something to look up to.
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