Introduction
As the popularity of fast food grows in India, franchise opportunities are becoming increasingly attractive. WOW Momo, one of the most popular fast food chains in India, offers a unique and innovative franchise opportunity. In this article, we’ll cover everything you need to know about starting a WOW Momo franchise, including franchise options, cost and investment, location requirements, training and support, revenue and profit potential, marketing and advertising, legal considerations, and FAQs.
Why WOW Momo is a popular franchise
WOW Momo is a popular fast food chain in India, known for its unique and innovative menu items. The company has a strong focus on quality and customer service, which has helped it to attract a loyal customer base. Furthermore, WOW Momo is a socially responsible company, with a strong focus on addressing social and environmental challenges.
Overview of what this article will cover
This article will provide a comprehensive overview of what it takes to start a WOW Momo franchise. We’ll cover everything from the history and background of the company to the different types of franchises available, the cost and investment required, the location requirements, the training and support provided, the revenue and profit potential, the marketing and advertising options, the legal considerations, and the FAQs.
About WOW Momo
History and background of the company
WOW Momo was founded in 2008 by Sagar Daryani and Binod Kumar Homagai. The company started as a small food stall in Kolkata, serving momos, a popular Tibetan dish. Over time, WOW Momo’s menu has expanded to include a wide range of innovative and unique food items, including dumplings, noodles, and rice bowls.
Popular items on the menu
WOW Momo’s menu is diverse and innovative, featuring a wide variety of momos, dumplings, noodles and rice bowls. Some of the most popular items on the menu include the chicken and cheese momo, the schezwan paneer momo, and the prawn pan-fried dumpling.
Unique selling points of WOW Momo
WOW Momo’s unique selling points include its innovative and diverse menu, its high-quality ingredients, its socially responsible practices, and its commitment to customer service.
Franchise Options
Different types of franchises available
WOW Momo offers three different types of franchises: kiosk, store, and food court. The kiosk franchise is the smallest, while the store franchise is the largest. The food court franchise is similar to the store franchise, but is designed for food courts in malls.
Advantages of owning a WOW Momo franchise
Owning a WOW Momo franchise offers numerous advantages, including a proven business model, a recognized brand name, a comprehensive training program, ongoing support and guidance, and access to high-quality ingredients and supplies.
Requirements to become a franchisee
To become a WOW Momo franchisee, you will need to meet certain requirements, including a minimum investment, a strong business background, and a commitment to upholding WOW Momo’s values and standards.
Cost and Investment
Franchise fee and other startup costs
The franchise fee for a WOW Momo franchise ranges from Rs. 5 to 10 lakhs, depending on the type of franchise. In addition to the franchise fee, you will also need to pay for startup costs such as rent, equipment, supplies, and inventory.
Ongoing expenses to consider
There are several ongoing expenses to consider when owning a WOW Momo franchise, including rent, utilities, marketing and advertising, employee salaries, and supplies.
Financing options available
WOW Momo offers financing options to help franchisees cover the initial investment and other startup costs. Financing options include loans, partnerships, and joint ventures.
| Item | Cost |
|---|---|
| Franchise Fee | INR 35,000 + GST |
| Royalty Fee | 5% of monthly sales |
| Advertising Fee | 2% of monthly sales |
| Initial Investment | INR 5 lakh to INR 10 lakh |
| Space Requirements | 250-300 square feet |
| Number of Employees | 2-5 |
| Training | Provided by Wow! Momo |
| Franchise Term | 3 years, with a renewal option |
Also read the How to Start an eKart Franchise: Investment, Fee, and Profit
Steps to Start WOW momo Franchise
If you are interested in starting a WOW momo franchise, follow these steps:
- Visit the WOW momo website and fill out the franchise application form.
- The WOW momo team will review your application and contact you for further discussions.
- Once the discussions are concluded, the WOW momo team will send you a Franchise Disclosure Document (FDD).
- Read and understand the FDD thoroughly before signing the agreement.
- Pay the franchise fee and complete the other legal formalities.
- Find a suitable location and do the necessary preparations for launching the franchise.
Training and Support
Initial and ongoing training
WOW Momo provides comprehensive training to all franchisees, including initial training on operations, management, and customer service, as well as ongoing training on new menu items, marketing and advertising strategies, and best practices for operations and management.
Assistance with marketing and advertising
WOW Momo provides assistance with marketing and advertising, including guidance on creating a marketing plan, designing promotional materials, and executing marketing campaigns.
Help with hiring and training employees
WOW Momo offers help with hiring and training employees, including providing hiring guidelines, training materials, and ongoing support.
Operations and Management
Overview of day-to-day operations
Day-to-day operations for a WOW Momo franchise will include tasks such as ordering supplies, managing inventory, marketing and advertising, hiring and training employees, and providing high-quality customer service.
Importance of efficient management
Efficient management is essential for the success of a WOW Momo franchise. This includes employing effective management strategies, carefully tracking revenue and expenses, and maintaining high-quality standards for customer service and operations.
Best practices for a successful franchise
Best practices for a successful WOW Momo franchise include focusing on quality and customer service, staying up-to-date with the latest menu items and marketing strategies, and maintaining a commitment to social and environmental responsibility.
Revenue and Profit Potential
Typical revenue and profit margins
The revenue and profit potential for a WOW Momo franchise will depend on a variety of factors, including the type of franchise, the location and market, and the quality of management and customer service. On average, a WOW Momo franchise can generate monthly revenue of Rs. 3-6 lakhs, with a profit margin of 14-16%.
Factors that can impact profitability
Factors that can impact the profitability of a WOW Momo franchise include competition in the market, operational inefficiencies, poor management practices, and a lack of effective marketing and advertising.
Strategies for increasing revenue and profitability
Strategies for increasing revenue and profitability for a WOW Momo franchise include introducing new menu items, implementing effective marketing and advertising campaigns, improving operational efficiency, and maintaining a commitment to high-quality customer service and social responsibility.
Legal Considerations
Legal requirements for owning a franchise
Owning a WOW Momo franchise requires compliance with certain legal requirements, such as obtaining necessary licenses and permits, adhering to food safety regulations, and adhering to federal and state labor laws.
Franchise agreement and terms
The franchise agreement for a WOW Momo franchise will include terms related to the franchise fee, ongoing expenses, marketing and advertising requirements, and other operational guidelines.
Legal support available to franchisees
WOW Momo provides legal support to franchisees, including assistance with compliance with regulatory requirements, and guidance on legal issues related to the franchise agreement.
Maintenance and ongoing support
WOW Momo provides ongoing support and maintenance to franchisees, including assistance with training and development, marketing and advertising, and operational guidance.
Conclusion
Starting a WOW Momo franchise can be a profitable and rewarding venture for those with a passion for high-quality fast food and a commitment to social responsibility. With a comprehensive training program, ongoing support, and guidance from experienced professionals, owning a WOW Momo franchise can be a lucrative opportunity for entrepreneurs looking to break into the fast food industry.