Pushed against the wall, an entrepreneur can come up with an ingenious idea that can change the shape of any business. And so has been the case with Ruchir Joshi who built a brand out of MomoMan from virtually nothing
Empowering over 100 micro entrepreneurs across the country, Ruchir Joshi started MomoMan with just Rs 15,000. Today, MomoMan is known for its low capex investment and high RoI. Commenting on MomoMan’s USP, he says, “MomoMan, with years of expertise in its domain, has created simple operating procedures which can be easily learnt and adapted. Our easy-to-learn business formats can be beneficial for anyone who wishes to start a food and beverage enterprise.”
Speaking about how franchising helped the brand scale, Joshi says, “Franchising has been a way for us to scale up – be it creating micro entrepreneurs for MomoMan on foot or a big ticket investor for the dine-in format. So far we have 12 franchise stores and around 100 micro enterprises that take our daily supplies of momos.”
Further, he says, a franchise can expect the brand to supply pre-processed readyto- cook products with six months’ shelf life. Thorough training, marketing, approved vendor list, inventory management and cost control systems, and e-commerce gateway are among the benefits provided by the brand. MomoMan is now looking at pan-India expansion.
FRANCHISE FACTS
YEAR OF LAUNCH: 2011
FRANCHISING SINCE: 2015
TOTAL CENTRES: 14
INVESTMENT
REQUIRED: RS 20 LAKHS FOR CASUAL DINERS, RS 15 LAKHS FOR FOOD COURT, RS 10 LAKHS FOR KIOSKS.
AREA REQUIRED: 100-600 SQ. FEET
ROI: 50% PER ANNUM
BREAKEVEN: 2 YEARS
EXPANSION PLANS: PAN-INDIA.
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