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Meet Sagar Daryani, who started business at 21, built Rs 2000 crore company, earns Rs 40 crore monthly
Taping into this love for momos, Sagar Daryani transformed into a massive business as he created the restaurant chain 'WowMomo'.
Updated : Jul 23, 2023, 07:01 PM IST
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Whether it's chaat or momos, India is renowned for its delectable street cuisine. One street food, momos, has become quite well-liked among people from all around the nation recently. Taping into this love for momos, Sagar Daryani transformed into a massive business. He is the creator and CEO of the restaurant chain Wow Momo, which specialises in momos.
Together with his classmate Binod Homagai, he founded the business. The business was formally established on August 29, 2008. When they started the company, they were in the last years of their degree at St. Xavier's in Kolkata. They currently have a value of hundreds of crores. Sagar began selling momos in 2008 from a small kiosk in Kolkata after having the idea for the company one day. At the age of barely 21, they founded the business.
Daryani did not consider the task to be insignificant despite the family's opposition; he moved on and was successful. What began with only Rs 30,000, 1 table, and 2 part-time cooks has developed into a Rs 2000 crore enterprise. They chose the moniker WowMomo for their business in an effort to 'wow' their customers with their offerings. Experimentation is their products' major USP.
For instance, they created something they call 'Moburg' by combining momo with a burger. While selling momos, the two founders donned T-shirts bearing the name of the business for nearly two years after it started. Every visitor was once asked to try a momo and provide feedback. WowMomo began installing kiosks in other commercial locations, such as tech parks, malls, and hypermarkets, as more people began to enjoy momos.
According to Daryani, the corporation presently opens 250 stores annually, but has aspirations to raise that number to 350. According to News18, the firm currently sells 6 lakh momos each day. It currently has 800 places of sale spread over 26 states, and by the end of the following year, it hopes to have 3000.
WowMomo was valued at an astonishing Rs 2130 crore and the food-chain business has so far raised Rs. 375 crore. 52 percent of the company's shares are owned by the founders, promoters, and workers. WowMomo was bringing in Rs 40 crore per month. Last year, the form generated an income of Rs 220 crore. In FY 2023, it aimed for a topline of Rs 450 crore.
