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Professional 2017-07-05

How this start-up has turned Rs 30K biz to 50 crore brand

In an exclusive interview with Restaurant India, Binod Homagai, Co-Founder at Wow Momo shares his views and experience about changing food tastes and more.

By Feature Writer
How this start-up has turned Rs 30K biz to 50 crore brand

How it all began?

We thought of serving the simple momo at first and then we realised that the taste and preference of people is changing over time, they are looking for new innovations. There were only two varieties in momo i.e., vegetarian momo & non-vegetarian momo. So, we developed various varieties like we introduced momo burger which is one of its kinds. It is the best option for the people who want innovation in food without burning a hole into their pockets.

How do you keep innovation going at Wow! Momo?

When we expanded to South India, we saw that people here are stuck to rice and it was really difficult for us to build a market of momo there. Then we came to the concept of momo with rice and noodle. We made different combos according to the cuisines of the particular region where a person can have momo with a taste of his region and we found that momo got accepted almost everywhere all over India. This is a big transition in itself that people are coming up to new things.

Which city is your focus?

We have many outlets all over India but most of them are in Kolkata. We have outlets in Pune, Bengaluru and about to open 60 plus outlets all over India. We have grown rapidly from a small kiosk to a multi chain QSR.

What is the average footfall at Wow! Momo?

It depends on the location. If it is small then it generates around 330 foot fall and if it’s QSR then footfall is automatically large in numbers. Small QSR are about 100 sq feet to 200 sq feet, big QSRs are 40 seaters where people could eat and enjoy. So, it totally depends upon the seating and location like we have our largest outlet in Hauz Khas Village, Delhi which has sales of Rs 16 lakhs.

What new is happening at Wow! Momo?

We are grateful that people are appreciating us. We have pushed all our heart and soul into it. We are also thinking of getting a machine which could make momo. So that momo would come out from the machine directly same as the chips are made. We have 120 outlets now and we are planning to open 60 this year and more in next one and a half year. We’re looking forward to cities like Bhubaneswar, Hyderabad, Mumbai and Silliguri.

Is there any plan taking the franchise route?

As we have discussed about machines, till the time momo is not coming out of the machine. We cannot think about franchising our brand. It has to be channelized to franchise the business. Till now we are planning to take it by our own.

Any advice you would like to give to new entrepreneurs before starting a restaurant business?

See, every business has its own story and every entrepreneur has to go through a lot of pressure. There would be different ways which I won’t be able to tell like, do this or do that but what I would always suggest is to keep distance from negative people, whatever needs to be done just do that. Follow your heart and listen to yourself. Nobody could help an entrepreneur; it is only him who could help himself.

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