Do you love eating and do you want to start your restaurant? Look no further! Wow Momo franchise foray may well be the right business model for you. Here, you will find all the necessary information about becoming a part of Wow Momo in 2024: the prices, the profits, the way to apply, and a lot more.
Today, Wow Momo is a quick-growing fast-food restaurant that has brought a novel concept to the Indian food market. Plying its trade in tasty momos and other related Asian food, Wow Momo has found its perfect place in the food market segment.
Wow Momo was established on August 29, 2008, by two youths, Sagar Daryani and Binod Homagai who are college mates. The envision that was once a small business has evolved into a magnificent idea that covers more than 300 stores across over 25+ cities in the country, India. The mission statement of the company is to offer not only tasty momos to its customers but also a meal experience.
Related Services and Offerings
Wow Momo offers a diverse range of products and services:
- Variety of momo used in the traditional ways and the modern way
- Other Chinese dishes such as thukpa and fried rice
- Novel hybrids, or new combinations of two existing foods (e.g. Moburg – momo burger)
- Olis of dine-in, takeaway, and delivery services
- Services being offered include but are not limited to; catering services for events and parties.
- Business franchises for potential owners
The Wow Momo Success Story
Wow Momo started its journey in the city of joy Kolkata and is now tasted across the nation. The founders’ dream to serve momos not only as food but as an experience that food lovers in India can relate to has hit home. They have introduced creativity in their traditional food menu well exemplified in cheese momos, aubergine momos, and the famous Moburg.
The fast growth of the company proves its popularity and the efficiency of the business approach. Wow Momo which now has outlets in more than 300 outlets in 25 plus cities has established itself as a reputable fast food outlet. It is therefore a promising prospect for prospective franchisees seeking to enter into a successful growth story.
Why should you choose a Wow Momo franchise?
Investing in a Wow Momo franchise offers several compelling advantages:
- Established Brand Recognition: Another advantage of franchising with Wow Momo is the fact that it’s almost ubiquitously present with a highly dedicated clientele which will give your franchise immediate brand establishment.
- Innovative Menu: This makes customers remain loyal to the company for its ability to provide a variety and interesting dishes that are produced using creativity.
- Proven Business Model: It can be said that Wow Momo’s success in the given markets proved the robustness of the company’s concept.
- Comprehensive Support: The benefits that franchisees enjoy include extensive and continuous training, operational support, and national advertising campaigns.
- Growing Market: This writer believes that one of the great opportunities for growth in sales is the rapidly growing demand for fast foods, especially momos and Asian food.
- Quick Return on Investment: This means that there is a high possibility of earning good returns, and the operations being cost-effective, franchisees are likely to regain their capital investment experience.
Wow Momo Franchise Costs In India
A person needs to know the amount of capital he or she is willing to invest before venturing into a Wow Momo franchise. Here’s a detailed breakdown of the costs involved:
- Franchise Fee: ₹25,000 plus GST
- This is a one-time fee that guarantees you the license to run a business under the registered trademark Wow Momo.
- Estimated Setup Cost: ₹5 to 10 lakhs
- Includes personnel costs for decorating the inside of the building, purchasing furniture and equipment, installing signs, and any other structural investment.
- This is normally dependent on the type of plant or factory and its location together with other factors that may be unique to the project.
- Initial Inventory: ₹2 to 4 lakhs
- Consists of stocks required for the first 2-3 months of trading.
- Working Capital: Approximately ₹5 lakhs
- Used for covering small incidental and necessary expenses such as salaries for the employees and other overhead expenses before the franchise makes its revenues.
- Total Investment: ₹8 to 20 lakhs
- This includes all the above costs making up the overall investment range.
- Royalty Fees: None
- Moreover, Wow Momo does not pay any regular royalties for marketing, branding, and support.
- Franchise Agreement: 3 years
- Formed either as an initial partnership period that could be followed by successive renewable periods.
- Such costs may, however, differ depending on factors including geographical location, size of the outlet, and the market situation. Potential franchisees are advised to make their own investigations and to speak to Wow Momo for the most current and accurate figures.
Profit Potential and ROI
Another factor that makes owning a Wow Momo franchise so appealing is the possibility of making big bucks. Here’s what you can expect:
- Profit Margin: 40% to 50%
This is a very healthy margin, it implies that a large proportion of the revenue you get goes straight to the bottom line.
- Monthly Profit: ₹1 lakh to ₹2 lakhs
Expenses are many; however, the approximate monthly earning of the franchisees amounts to ₹1 to 2 lakhs out of total sales.
- Return on Investment (ROI): 8 to 10 months
Owing to the ability to get financing from outside sources, franchisees can break even within this period on average.
The above returns illustrate the possibility of the receipt of high and stable earnings from a Wow Momo franchise. Nevertheless, we have to bear in mind that gross profits may be more or less depending on the region, competition, and company’s performance.
Criteria for Registration and Qualification
To become a Wow Momo franchisee, you’ll need to meet certain criteria:
- Age: Minimum 21 years old
- Education: At least 10th grade qualification.
- Experience: It would be desirable though not essential if the candidate being appointed to the post has experience in the food industry or the retail business.
- Financial Capacity: An opportunity to invest ₹8 to 20 lakhs and to bear continually appearing operational expenses.
- Commitment: The first requirement is the willingness of the applicant to be trained for 2 months to learn how to manage the business and stay committed to meeting specific brand requirements.
Required Documents
To apply for a Wow Momo franchise, you’ll need to prepare the following documents:
- Franchise Agreement Form
- Business Plan
- Any of each – Passport, driver’s license, or Aadhar card to prove identity.
- Utility bill or a rental agreement stating the applicant’s current physical address.
- Income financial docs (Bank statements, Income tax returns).
- NOC from the Landlord, if the property is taken on rent.
- Recent passport-sized pictures
- GST Registration
- FSSAI License
The Application Process
Ready to take the plunge? Here’s how to apply for a Wow Momo franchise:
- Visit the official Wow Momo website (https://www.wowmomo.com/)
- Move down to the “Contact Us” part
- Complete the Contact Us page with your details and the particular questions about the franchises.
Submit the form
A response from the team at Wow Momo may take a few days to weeks (the wait time varies depending on the workload of the directors).
If you make the shortlist, we will get in touch with you for possible further consultations and visits to the site.
Remember patients are of uttermost importance during this process. Regarding its franchise strategy, the Wow Momo team screens each potential applicant with a view to finding a win-win match.
Training and Support
Finally, Wow Momo has ensured that it will do everything it can to ensure its franchisee’s success. Here’s what you can expect in terms of training and support:
Initial Training: Bachelor’s degree holders will be offered a two-month training program which will include the following areas:
- Store operations
- Product knowledge
- Customer service skills
- Business management
- Ongoing Support: Support as:
- Marketing and promotions
- Inventory management
- Quality control
- Operational troubleshooting
Marketing Assistance: Take advantage of Wow Momo’s national advertising, marketing and branding initiatives
This strong backing guarantees that anyone who wants to start a food business or who is entering the fast food sector can run a Wow Momo franchise effectively.
Location Requirements
Location is therefore a key determinant when selecting a site to establish a Wow Momo franchise. Here are the key requirements:
- Size: 250 to 300 square feet
- High Foot Traffic: Shop fronts, near schools, colleges, and other commercial places are the most suitable sites.
- Accessibility: Availability to the customers and the delivery services.
- Visibility: High visibility to encourage people to glance at the store.
- The management of Wow Momo has a team of experienced personnel who can help you assess the rationale of various locations in order to give the franchise a perfect beginning.
Menu and Product Offerings
Wow Momo has quite a few unique features, one of which is a wide and varied menu offer. As a franchisee, you’ll offer a range of products including:
- Steamed momos and fried momos
- New recipes for momos such as cheese momos, butter masala momos, etc.
- Creative fusions such as the MOMO-burger or Moburg.
- Some other Asian recipes that are popular among people are Thukpa and fried rice
- Sizzlers and platters
- Beverages and desserts
This type of menu means that it will be able to meet the customers’ different tastes and preferences, thus enabling one to offer quality services to the customers.
Comparison with Other Fast Food Franchises
To give you a better perspective, let’s compare Wow Momo with some other popular fast-food franchises in India:
| Aspect | Wow Momo | Burger King | Domino’s Pizza | McDonald’s |
| Initial Investment | ₹8-20 lakhs | ₹2-3 crores | ₹1-2 crores | ₹2-3 crores |
| Franchise Fee | ₹25,000 + GST | ₹25-35 lakhs | ₹10-15 lakhs | ₹30 lakhs |
| Royalty Fee | None | 5-6% of sales | 5.5% of sales | 4% of sales |
| Space Required | 250-300 sq ft | 1000-1200 sq ft | 800-1000 sq ft | 1500-2000 sq ft |
| ROI Period | 8-10 months | 3-5 years | 3-4 years | 5-7 years |
| Menu Focus | Momos & Asian | Burgers & Fries | Pizza & Sides | Burgers & Fries |
As you can see, Wow Momo offers a more accessible entry point for aspiring entrepreneurs, with lower initial investment and space requirements, as well as a potentially faster return on investment.
Advantages & Disadvantages of Wow Momo Fast Food Business Opportunity
Like any business operation, having a Wow Momo franchise has its strengths and weaknesses. Let’s explore both sides:
Pros:
- Strong Brand Recognition: The fact that Wow Momo has already been set up and has many customers already is a huge bonus.
- Lower Initial Investment: It is cheaper to enter the market than many of the international fast food companies.
- Unique Product Offering: The market differentiation of the business can be attributed to the fact that the restaurant is overly specialized in momos and other Asian dishes.
- Innovative Menu: The use of new items in the offering is always a plus since it creates the impression that there is always something new in the market.
- Comprehensive Support: Substantial training and further support from the firm.
- No Royalty Fees: The good news is that Wow Momo is not like most franchises that make franchisees pay regular royalties for their services.
- Quick ROI: Opportunity to get back invested amount within one year of operation.
Cons:
- Competition: The fast-food segment in India is very intense and is by no means stagnant.
- Limited International Recognition: Even though this brand is popular now in India it may not be much appreciated by international tourists.
- Operational Challenges: The quality and hygiene of food, and the relations with the clients, are the aspects that need to be attended to all the time.
- Location Dependency: It can be seen that location choice can significantly influence the success of the business due to the sheer number of clients.
- Menu Limitations: However, the strategy of taking a specialized niche, and the chosen direction of momos might not attract all customers.
Conclusion
Therefore, the Wow Momo franchise is an excellent business to plunge into for anyone who wants to venture into the fast-food business in India today. This is because, the company has a clearly defined product offering that targets a specific niche, popular brand identification, and a readily available support structure that puts forward a sound business model.
But like any kind of business, it does need time, effort, planning, and strategy to make it work. With the information given above about the cost, specifications, and pitfalls involved, you can make the right decision whether or not to go into the Wow Momo franchise business.
Frequently Asked Questions
How soon can one open the franchise after the approval for the Wow Momo franchise?
Usually, it would take 2 to 3 months from the approval of the location up to the time the store is ready for operation.
How many Wow Momo franchises can I own?
Indeed, the Wow Momo franchising system permits ownership of multiple stores for those franchisors who have run the first store successfully.
To what extent does Wow Momo help individual franchises in marketing?
Yes, Wow Momo helps with the national advertising appeals and offers direction in the local advertising strategies.
What is the traditional number of employees required to manage an outlet of Wow Momo?
As for the people, ratio depends on the number of outlets and can range between 3 to 4 employees per Wow Momo outlet.
Does one have to have a background in the food industry to own a franchise in Wow Momo?
However, prior experience of the candidate is not necessary, although it will be an added advantage. In the training section, Wow Momo offers extensive training to each of its franchisees.
