Success Story of Wow Momo : How it turned into 100 Cr Company

Wow Momo

Sagar Daryani and Binod Kumar Homagai separated having a similar group and course of M.Com at St. Xavier’s school in Kolkata, additionally share their adoration for momos. Binod being an inhabitant of Nepal, normally had that affection for Wow momos while Sagar used to eat momos from momo-vender outside his school. One thing that Sagar watched and gained from that momo dealer was that one could do varieties and make quality momos in a limited capacity to focus time. So he chose to do tries different things with Momos and imparted his plan to Binod. When Binod heard the thought, he quickly hopped in it. Be that as it may, the genuine issue was of beginning financing.

At the point when these youthful folks were battling with absence of assets, that is the point at which Sagar’s folks approached and offered an underlying venture of Rs. 30,000. Sagar additionally persuaded his family to let them utilize the ground floor of their relative’s home in Jadavpur at the kitchen, on which they concurred. In 2008, they gave their thought a name of Wow Momo. A 200-square-foot kitchen with one table, two low maintenance cooks on an ostensible pay, crude material assumed on acknowledgment from a nearby staple shop turned into the elements of their fledgeling business.

Luckily, they figured out how to get a 6*6 booth at Spencer’s Retail in south Kolkata on lease at 18% income share every month. They utilized splendid yellow shading for stand to do limited time exercises and showcasing efforts. They generally had an item arranged advertising effort. Binod and Sagar used to wear Wow Momo shirt and go up to clients with a plate of momos for inspecting, as they didn’t have cash for printing pamphlets. Individuals began comprehended their idea and on the principal day, they had an offer of around Rs. 2200 and contacted Rs. 53000 toward the month’s end.

At the point when the team begins getting a positive reaction from clients, the supervisors of hypermarkets moved toward them and offered booth space in their different branches moreover. In 2010, they opened their first free outlet at Sector V in salt lake, Kolkata with a speculation of Rs.14 Lakhs. Later they chose to grow in different urban areas additionally, and in this manner in 2011, opened Wow Momo outlet at Phoenix, Bangalore. Today they have more than 95+ outlets all over India. They structured their menu so that their littlest stand of 7*7 produces income of in excess of 12 lakhs for every month.Wow Momo crossed the income of 100 Crores. In July 2015, they raised their absolute first subsidizing of more than $2 million from the Indian Angel Network. In May 2017, they raised Series-B subsidizing of INR. 440 million. From that point forward there is no thinking back.

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