Thursday, February 2, 2023

Meet Debasish Majumder, Who Quit His 9-To-5 Job To Establish His Thriving Momo Franchise Momomia

Debasish Majumder began his career as an office assistant in a company, but his dreams to create a brand of his own prevailed in his heart.

Debasish grew up in a middle-class family and always believed that getting a secure job was the best thing for him, but he wanted to quit after his first day as a banker, but his mother persisted.

He rose through the ranks to become the company’s chief accountant, earning a respectable income. However, he was unsatisfied. He aspired to be an entrepreneur.

Eventually, he quit his work to pursue his passion with the help of his wife and mother. In 2017, he opened an ice cream shop, but it failed to take off, and Debasish suffered a loss of Rs 10 lakh.

He got the notion to open a momo business after visiting an outlet in Guwahati where he thought he could provide tastier momos.

He took out a Rs 3.5 lakh loan to start his momo franchise “Momomia” in 2018. With the help of three others, he began operations. The first year was difficult, with monthly revenues hardly exceeding Rs 1.5 lakh.

As business began to perk up, political unrest in the state erupted. There was also the pandemic. Ritashree, his wife, was always supportive, and Debasish was able to rise above the gloom and achieve success.

As the business grew, Momomia opened its first franchise outlet in Haridwar. Momomia also opened 100+ franchise outlets in Assam, Arunachal Pradesh, Bihar, Gujarat, Uttar Pradesh, Madhya Pradesh, Jharkhand. West Bengal, Gujarat, Maharashtra, Haryana and NCR in the same year.

Momomia has 100 different types with prices ranging from Rs 50 to Rs 180. Over 350 people are employed by Momomia, which has over 60 locations. Momomia now has a revenue of Rs 25 crore by last FY.

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