Apart from the unorganised stalls, momos are being sold in attractive kiosks and restaurants in different flavours and with different brand names associated with them.
Momos need no introduction. A type of South Asian dumpling, momo traces its roots to Nepal, Tibet, Bhutan and China and has probably travelled all around the world. In India, this spicy dumpling has reached the zenith of popularity. Local vendors can be seen serving a variety of momos at almost every nook and corner of many Indian streets, which bear testament to its popularity.
The simple South Asian momos are twisted with lots of flavours in India and are yet loved by many. This very fact has attracted a lot of food entrepreneurs to come up with stylised versions of momos. Apart from the unorganised stalls, momos are being sold in attractive kiosks and restaurants in different flavours and with different brand names associated with them.
Product Innovation is the Key to Success
The traditional momos happen to be steamed and fried, are filled with shredded vegetables, cottage cheese or meat, and are served with a hot and spicy dipping sauce with tomato and chillies as the base ingredient. The combination of the steamed/pan fried momos and the spicy chutney is always loved by many, but still you can find a variety of momos selling in the market. After the usual steamed and pan fried came deep-fried and even tandoori momos, then a few more condiments got added in the chutney, then again momos with new and exciting fillings came up and the varieties are endless.
With varieties like Tandoori Momos, Afghani Momos, Gravy Momos, Kurkure Momos, and many others, the momo market is making it big in the country. But why is it that so many varieties are coming up in the market? This is because innovation is the key to success when it comes to any business today, and food is no exception. Adding uniqueness and something new to your basic product helps you in offering something new to the customers as the entire food industry is a game of taste buds. With the changing tastes of consumers, it is important to introduce innovation in your product so that you can create a niche for yourself in the market. And, in a momos’ business, it is very easy to bring innovation as the basic preparation of it requires so less that it opens the room for experimenting. For example, brands like Wow! Momo and Momo Station, two big players of the organised market, offer more than 20 kinds of momos.
Easy Investment makes it a Lucrative Business Model
Momo franchises are a great opportunity to invest in today’s time. This is because a brand name, quality of product, and hygiene when associated with momos makes a whole lot of difference in the customer’s behaviour towards the entire market. In a franchise business, a franchisee gets to enjoy certain privileges like low investment, brand recognition and a host of other benefits like training support, marketing and so on. However, while specifically talking about a momo business, it becomes even more easier for the franchisee to take up a franchise. This is because investment in a momo franchise is very low yet the return of investment is always high. An average investment required to start a small momo franchise, say a kiosk model, is between Rs 5-10 lakhs which can be earned back in less than 6 months.
And when we talk from a franchisor’s point of view, turning your momo business into a momo franchise is much more lucrative than starting an independent business. This is because franchising helps in expand in every scale with assured returns. So, a momo franchise serves as a lucrative business model.