Wow! Momo Revenue (Business) Model | How Wow! Momo Earns Money (Case Study on Wow! Momo)
WOW! Momo is a quick-service restaurant which is now available in all parts of India. They are swiftly growing and all has the biggest momo supply chain in India. In over 250 cities, it offers their wide variety of Momos with their own special ingredients sauces.
By the End of this article, you’ll know:
- About Wow! Momo
- Founder of Wow! Momo
- Wow! Momo Business and Revenue Models
- Revenue Model of Wow! Momo
- How Wow! Momo expands their business rapidly?
About Wow! Momo
Wow! Momo started in 2008 with a motto of providing wide variety of Momos with proper hygiene. It was founded by Sagar Daryani and Binod Homagai. Founders focuses on the Momo Business. Instead of taking jobs at the time of Graduation, they choose to open a Wow! Momos which is now valued at over INR 1000 Crore.
Momo is basically a common dish in Nepal, certain areas of Tibet and India. It is very famous in Nepal and due to Wow! Momo it is now favorite for many Indians too.
Their success can be interpreted by the revenue they generated last year which is INR 200 crores.
They currently operates over 300 outlets and the numbers are increasing.
To know more – WOW! MOMO ABOUT
“Libraries were full of ideas—perhaps the most dangerous and powerful of all weapons.”
Who are the Founders of Wow! Momo
The Founders of Wow! Momo are Sagar Daryani and Binod Homagai. It was established in the year 2008. Both the founders completed their studies from St. Xavier College, Kolkata.
The business was initiated with the small capital of Rs 30,000 and within few years, its valuation raised to crores.
The brand has extended its supply chain in Chennai, Cuttack, Cochin, Rourkela, Puri, Bhubaneswar, Kolkata, Delhi, Mumbai, Gurugram, Faridabad, Ghaziabad, Noida, and Bengaluru. In these given cities, it currently has over 250 outlets.
Sagar Jagdish Daryani and Binod Kumar Homagai from Kolkata started Wow Momo Business because they love momos and wants to start business in this field where they aim to give different variety of Momos such as Momo Burger, Tandoori momos, Kurkure Momos and much more.
Revenue Model of Wow! Momo – Ways by which Wow! Momo earns money
Wow Momo! are earning income by two ways which are as follows:
- They earns money on the selling of Momo sold from their store. On an average they earn more than INR 2 Lakh through a single outlet/Store.
- The major income Wow! Momo earns through the Franchise system. They take a royalty on the revenue earns by the franchise.
They have the cloud kitchen facility in each city they’re having the outlets. In the cloud kitchen they manage all the operations by own from material purchase to processing and making and all it’s delivery.
Currently they are having over 300 stores.
Business Model of Wow! Momo | Wow! Momo Business Model
A Business model is a defined plan of any business that shows how the company find a way to earns profits/money. The Business model reflects the strategy of a business for its success. A business plan or model is required in a fresh business set up or in the expansion plan of an already established business.
The success of Wow! Momo is due to its Business model which are explained below in detail:
Customer Value
The Customer Value consists of the products or services any business offers to its customers and also unique features that give a competitive advantage in the market.
It is different from others because they provide a unique dishes of Momos which no one offer before. Today they offer 12 different flavors of momos in 4 forms i.e. steamed, fried, Kurkure, and tandoori momos. Also, flour variants are mostly white and brown. Their different sweet or spicy sauces are being used to fry these momos to give Indian taste. Moreover, they have other varieties like Momo chats, Tandoori momos, baked momos, Momo Burgers under the name MoBurg. Also, the brand carries a special ‘Chocolate momo’ and ‘Pizza Momos’ on their menu which is very unique and never heard anywhere.
Customer Base
This product comes in the category where seniors as well as juniors like Momos. Wow! Momo also covers both the vegetarians group as well as the non-vegetarians group. From the beginning they offer both the varieties to its customers and it will attract the more and more customers to try out.
It is one the USPs ( Unique Selling Propositions) of Wow! Momo
Marketing Strategy
The business model of Wow! Momo consists of strong marketing or promotion strategies that cover its USP (Unique selling proposition) as well. The Brand is using different effective marketing tools i.e. digital or social media, Public relations, branding, etc.
In the initial stage, Wow Momo had chosen its main color that is Yellow. Their marketing campaign used to be product-oriented.
Due to a shortage of funds, both entrepreneurs of the brand used to sale samples of their momos in a tray by wearing Wow momo t-shirts. This idea of branding and marketing worked well and clicked customers. In result, their sale which was Rs. 2200 on the first day had gone up to Rs. 53000 at the end of the first month.
Their current marketing and branding strategy is mostly through social media like Facebook, Twitter, Instagram, etc like many brands using this strategy to attract customers. The brand believes in marketing through customer experience by opening new stores, outlets, and Kiosks, etc. The logo is an eye-catching logo with yellow color and also eye catchy logo attracts the attention of customers in the Mall, Commercial Building or other.
Wow! Momo USPs
- Very innovative and different flavored fresh momos
- Veg and Non-Veg offerings
- Hygiene
- Wide Range of Momos
Competitor Analysis
Wow! Momos have competition with local street vendors who sell momos at a very lesser price. But the high quality, hygiene and different flavors of momos give a competitive advantage to Wow! Momo over local street sellers.
Moreover, there is no other organized momo brand in the country to compete with Wow! Momos and Wow! China. The brand has the monopoly in the organized sector.
Conclusion
We can conclude that Wow! Momo has a great advantages and a good revenue which increasing year on year. They can expand their business wisely, proper supply chain management is there. They got successko because of continual improvement and innovation in the Business and Revenue Model of Wow! Momo. Founders gave us the motivation that if we want to do something then great planning with execution is more important than the Money. Money is not a primary want in business. With less money also you can do business or startup.
