In India, the brand Wow! Momo is synonymous with Momos. We are certain that most of you would have wondered, what is the franchise cost of Wow! Momo? Especially while eating their steaming plate of momos. Presently, they boast a presence in all major cities across India like- Delhi, Kolkata, Pune, Mumbai, Chennai, etc. Before we dive into the Wow! Momo franchise cost, take a look at their story and USPs.
About Wow! Momo
Two college friends founded the Wow! Momo chain in Kolkata. Interestingly, the first Wow! Momo was set up with a mere Rs 30,000. To encourage similar budding entrepreneurs, the franchise cost of Wow! Momo is kept low. This Quick Service Restaurant (QSR) chain focuses on everything relating to momos, from steamed or fried momos, momo-burgers to momo desserts and more. As of March 2021, the chain has around 350 outlets across India. This number is likely to increase, as the chain plans to enter 200 cities by next year. As a result, there is an uptrend in the inquiry of the Wow! Momo franchise cost.
What makes Wow! Momo stand out?
Here are some of Wow! Momo’s unique selling points -
- The franchise cost of Wow! Momo is low, especially when compared to its peers.
- All the Wow! Momo products are reasonably priced. This makes it popular among middle-class families and working professionals.
- Wow! Momo has been operational since 2008, thus making it a well established QSR chain in India.
- Its diverse menu ensures it satisfies India's ever-demanding palate, including deserts!
- Wow! Momo's grab-and-go business model suits India's fast-paced life.
Wow! Momo’s Franchise Cost
The franchise cost of Wow! Momo is around INR 8 Lakh to 20 Lakh. The actual amount would depend on many factors. For example, your application, location, investment, etc. We recommend getting in touch with Wow! Momo for an accurate figure. It is important to note that they charge a registration fee of INR 25,000 upfront. This fee is not part of the franchise cost of Wow! Momo. The duration of the franchise is 3 years, with a renewal option at the end.
Now that you are aware of the franchise cost of Wow! Momo, we bring your attention to the other relevant details.
Estimated investment and profit margins
The profit margins of a Wow! Momo franchise is dependent on various factors. Some of them are the amount invested, staff employed, rent, etc. Do refer to the below table to know more. Also, it is important to note that these calculations are merely illustrative.
How to apply for the Wow! Momo’s franchise?
Apart from the franchise cost of Wow! Momo, you would also be curious about how to apply for the franchise. We have summarised the entire process below:
- Fill and submit your application form online. Enter details like name, address, investment amount, etc.
- Upload relevant documents like PAN, Aadhaar, etc.
- Verification by Wow! Momo. It may take a few days for this process.
- Complete onboarding procedures by submitting financial documents and KYC.
- Approval and inauguration.
Space required and employees
A typical Wow! Momo outlet would require an area of about 250 to 300 sq ft. Thus, as a franchise owner, your rent outflow is economical. This is the main reason why the franchise cost of Wow! Momo is low. That said, this area should include a kitchen and a counter. Ideal locations include malls, kiosks, tech parks, etc. Further, to efficiently manage a Wow! Momo outlet, you would require at least 2- 3 employees. To ensure a reasonable Wow! Momo franchise cost, we recommend selecting the minimum area required.
Wow! Momo has kept the skill-set required to a bare minimum. There are very few strict conditions. For every applicant, the Wow! Momo franchise cost checks for the below skillset:
- People with strong communication and interpersonal skills
- Bonus if you have managed other restaurants or have culinary experience
- Completed 10th grade
- Passionate about food and have a strong desire to be part of a global brand
Wow! Momo provides adequate on-the-job training. Especially in areas like soft skills, how to deal with customers, how to meet your sales targets, etc. This training is provided to all franchise employees for 2 months. Moreover, they promise 24*7 support and training to support your daily operations. It is important to note that all these training and support costs are included in the franchise cost of Wow! Momo. Thus, you will not be paying anything extra for training and support. This is actually a great feature of this franchise model.
Benefits of Wow! Momo franchise
The Wow! Momo franchise model offers tons of benefits. The major benefits are listed below:
- Low investment is a major highlight. For an investment as low as INR 5-10 lakh, you could own a franchise store.
- High return on investment. You could earn up to Rs 95,000 as profit per month. This enables you to recover the franchise cost of Wow! Momo quicker.
- The low franchise cost of Wow! Momo is a major attraction.
- Recover your investment in 8-9 months. Whatever you earn post this is profits for you.
- It provides a great entrepreneurial opportunity to all.
We have also listed down their contact details below. If the Wow! Momo franchise cost is acceptable and you are genuinely interested in the Wow! Momo franchise, we suggest you reach out to them via email.
- Email: support@Wow!momofoods.co.in
- Mobile: +91 9831621886
- Registered address: Raja Subodh Chandra Mullick Road, 24 Shyama Pally Kolkata, West Bengal - 700032 India
The franchise cost of Wow! Momo is relatively low. This is to ensure that its franchisees earn good profits. At the same time, the brand also continues to grow in value. The Wow! Momo franchise is also a good idea for small or medium-sized business owners. Especially those who intend to diversify their portfolio. An underrated strength of this brand is its active social media team. Who consistently post all the latest offers and deals. Recently, they raised large funds from global investors like Tiger Global Management. There are also talks about floating an IPO soon. We expect the Wow! Momo franchise cost to rise significantly post an IPO. Before you decide, consider factors like the Wow! Momo franchise cost, initial investment, store location, other QSR franchise options, etc.
We hope that our post on the Wow! Momo franchise cost will help you make an informed decision. For more such informational content, keep visiting OKCredit. You can also check out our app OKCredit, which can help you manage your business transactions.
|We hope our article turned out to be useful for you. For more such informative content, you can visit these linked articles as well:
|Haldiram’s Franchise Cost in India
|KFC Franchise Cost in India
|Subway Franchise Cost in India
|Dmart Franchise Cost in India
|Franchise Business under 15 lakh
|Franchise Business under 20 lakh
Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more!
Download OkCredit now & get rid of your bookkeeping hassles.
OkCredit is 100% Made in India.
Q. What is the franchise cost of Wow! Momo?
Ans. The Wow! Momo franchise cost can be anywhere between INR 8 Lakh to INR 20 Lakh. The actual amount depends on your application, location, investment, etc. We recommend contacting Wow! Momo for an accurate figure.
Q. How much profit can I expect to earn?
Ans. The actual profit would depend on your location, employees, rent and other expenses. That said, a well operated Wow! Momo franchise has the potential to earn around INR 11 Lakh- to 12 Lakh profits per year. This roughly translates to INR 1 Lakh of profit per month. Also, profitability largely depends on the franchise cost that has been incurred on the Wow! Momo outlet.
Q. How and where can I apply?
Ans. Just fill out the form online and wait for Wow! Momo executives to reach out to you. The entire application process is online.
Q. What is the required initial investment?
Ans. The amount of initial investment depends on various factors. Some of which are- where the store is located, area, employees, etc. That said, you can start a Wow! Momo franchise with an initial investment of INR 5 Lakh to INR 10 Lakh. This is excluding the franchise cost of Wow! Momo. If you prefer, you could also go up from INR 20 Lakh to INR 25 Lakh. The choice is completely yours.
Q. Is there any registration fee?
Ans. Yes, Wow! Momo charges a registration fee of INR 25,000 + GST. This fee is different from the franchise cost of Wow! Momo.
Q. What are the documents required?
Ans. You will need to submit the below documents:
1. Online application form
2. PAN of the applicant
3. Aadhaar card of the applicant
4. Bank statements (3 months)
5. A clear picture of the store location
6. Electricity bill of the store