Wow! Momo is the fastest growing QSR(Quick Service Restaurant) chain in India. It is one of the first and largest chain of branded momos. It was founded in 2008 by Sagar Jagdish Daryani and Binod Kumar Homagai in Kolkata. They serve a wide variety of Momo’s with delicious sauce in more than 250 outlets.
History of Wow Momo
Wow Momo was started by Sagar Jagdish Daryani and Binod Kumar Homagai in Kolkata. They started selling steamed momos from their 6 by 6 kiosks in Springdale Spencer. Their initial stores were in hypermarkets like BigBazaar, Spencers.
They started this journey as a bootstrapped with an initial investment of Rs.30,000 and they grew from 1 store to 40 stores by their own money.
Chef Ramji is the national head chef in Wow Momo, he started working with the team from the initial days as a part time with a salary of Rs.3000 and now he’s earning more than 1.5 Lakh/month.
About Wow Momo fundings
Wow Momo raises total $30 million.
In 2015, Wow! Momo had raised Rs 10 crore from its first backer, Indian Angel Network, led by Sanjeev Bikhchandani, Saurabh Srivastava, and Ashvin Chadha.
In June,17 Wow momo had raised Rs 44 crore and it was led by Lighthouse Funds and IAN at a valuation of Rs 230 crore.
In September,19 Wow Momo raided $23 million from New York based Tiger Global Management firm at a valuation of $120 million.
Services offered by Wow Momo
They offered more than 12 different flavours of momos, available in Steamed, Fried and Pan Fried with 3 delicious sauces. They changed the way of thinking about Momo’s like Sizzler Momos, MoBurg (Momo Burgers), Tandoori Momos and a Baked Momo Au’gratin, and the most popular desert of Wow Momo i.e, “Chocolate Momo’s.
Recently they also launched Veggie Darjeeling Momo and Chicken Darjeeling Momo.
Business Model of Wow Momo
They follows COCO(Company Owned Company Operate) Business Model. They manage all operations by own from material purchase to processing and making and all it’s delivery. In each city they’re having one central cloud kitchen. All store of Wow Momo in each city will be managed by their central cloud kitchen.
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How Wow Momo earns
They earn money on each momo sold from their store. Few reports says, they’re earning more than 2 lakhs per month from each outlet/store.
More about Wow Momo
- Currently they’re having more than 250 stores in 13 cities.
- After getting success in Wow Momo, Now they’d also launched Wow! China a restaurant full of China Cuisine.