Wow Momo Business Case Study: In today’s business world, many new businesses and startups have emerged in the last 10 years. These businesses are experiencing rapid growth. Wow Momo is one such company that’s keeping pace with this growth. If you’re a momo fan, you’ve likely heard of the Wow Momo brand.
Wow Momo has transcended its reputation and become a major brand in the world of momos. Today, it’s a company valued at a staggering Rs 1,000 crore. This article will delve into the Wow Momo business model through a case study, so let’s get started.
Before diving into the Wow Momo Business Case Study, let’s explore the company’s origins – when and how it all began.
Wow Momo Business Case Study
Wow Momo, a fast-food company, was founded in 2008 by two college friends, Sagar Daryani and Binod Homagai. Sagar and Binod observed that many successful brands had emerged in the food market, but there was a gap in the momo category. With the goal of building a momo brand, they launched Wow Momo.
Starting small, they began with a single stall in Kolkata, funded with an investment of only ₹30,000. Today, Wow Momo boasts over 800 outlets, making it one of the fastest-growing QSR (Quick Service Restaurant) chains in India. The company’s valuation has skyrocketed to over Rs. 1,000 crore.
What truly sets Wow Momo apart is its diverse menu. They offer a variety of momo options, including Cheese Momos, Baked Momos, Chocolate Momos, Fried Momos, vegetarian and non-vegetarian Momos, Burger Momos, and many more, catering to a wide range of taste preferences.
Wow Momo Business Model
Wow Momo’s meteoric rise from a single Kolkata stall in 2008, fueled by a mere ₹30,000 investment, to a nationwide chain exceeding 800 outlets is a story of sheer grit and strategic brilliance. While the possibility of franchising exists for future expansion, their current success rests firmly on the COCO (Company Owned Company Operated) model.
Under this model, Wow Momo exerts meticulous control over the entire customer experience. Centralized cloud kitchens located within each city ensure consistent taste and quality across all outlets.
This approach goes beyond just momos; they’re actively exploring new product categories to cater to evolving consumer preferences, as evidenced by their recent foray into the FMCG (Fast-Moving Consumer Goods) market.
Wow Momo Revenue Model
Wow Momo’s primary business model currently revolves around the COCO (Company Owned Company Operated) model. Their revenue primarily comes from selling momos and other food items across their chain of stores.
Wow Momo’s success is evident in their impressive growth and valuation exceeding Rs. 1,000 crore. The company has also secured funding, which we’ll discuss in the next section
Wow Momo Funding
Wow Momo’s funding journey began in 2015, and they’ve successfully secured a total of $55 million to date. Their most recent funding round was a $15 million Series C round closed in 2021.
This funding has fueled their expansion plans, allowing them to open new outlets and explore new product categories beyond momos. Indian Angel Network and Tiger Global are among Wow Momo’s notable investors, recognizing the company’s potential for continued growth.
In exciting news, Wow Momo secured additional funding in early 2024. Led by Malaysia’s sovereign wealth fund Khazanah Nasional Berhad, this latest round totaled $42 million. The fresh infusion of capital will likely be used to further accelerate their growth strategy, including expanding their QSR footprint, strengthening their FMCG distribution, and investing in research and development for their FMCG arm.
#Funding: Wow! Momo raises $42 Mn led by Khazanah
— Entrackr (@entrackr) January 16, 2024
✍️ @upadhyay_harsh1 https://t.co/yt709Ij5fx
Conclusion – Wow Momo Business Case Study
Wow Momo’s story, as explored in this Wow Momo Business Case Study, is truly inspiring, isn’t it? From a small stall with a big dream, they’ve become a national force, proving that delicious food and strategic planning can be a recipe for success.
Their focus on quality and consistency, along with their willingness to adapt and explore new markets, makes them a company to watch. I can’t wait to see what exciting things they cook up next!
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