Can You Make a Profit with The Craving Momo Franchise? in 2024

21, Jun 2024 175

Investing in a franchise like The Craving Momo can be a lucrative opportunity, especially given the rising popularity of momos among food enthusiasts. If you're considering venturing into the food franchise business in 2024, it's essential to understand the costs involved, the potential profits, and the application process. In this blog, we'll provide a comprehensive overview of these aspects and explain how Tradesworld can support you through your franchising journey.

Cost of Opening The Craving Momo Franchise with Tradesworld

Opening a franchise involves several cost components, from the initial franchise fee to the daily operational expenses. Here's a detailed breakdown of the costs associated with starting The Craving Momo franchise, with support from Tradesworld:

Franchise Fee-1 lakh

Kitchen Equipment-2 lakh

Marketing Cost-5%

Working Capital-4 lakh

Area Required-100 sq ft

Franchise Agreement-Life Time

Total Investment-8 to 12 lakh

Detailed Cost Explanation

Franchise Fee: This initial fee is paid to The Craving Momo for the rights to operate a franchise, which includes training and ongoing support.
Store Setup and Renovation: Costs for setting up the physical store, including interior design, furniture, and décor.
Kitchen Equipment: Expenses for essential kitchen equipment such as steamers, fryers, and other appliances.
Initial Inventory: The cost of the first stock of ingredients and supplies needed to operate the restaurant.
Marketing and Promotion: Initial marketing activities to create awareness and attract customers.
Working Capital: Funds to cover operational expenses during the first few months of business.
Tradesworld Service Fee: Additional cost for Tradesworld’s services, which include site selection, financing assistance, and project management.

Profit Potential in 2024

The profitability of The Craving Momo franchise can be substantial, thanks to the brand’s strong market presence and high demand for quality momos. Here’s an overview of the potential financial performance:

Revenue Per Month-10 to 15 lakhs

Profit Margin-30 to 40%

Return on Investment018 to 24 months

Profit Calculation

Annual Revenue: Total sales generated by the franchise in a year from selling momos and other menu items.
Gross Profit Margin: Percentage of revenue remaining after deducting the cost of goods sold (COGS).
Net Profit Margin: Percentage of revenue remaining after all operating expenses, taxes, and interest are deducted.
Payback Period: Time it takes to recover the initial investment from the profits generated.

How Tradesworld Can Help

Tradesworld specializes in facilitating franchise setups, providing comprehensive support throughout the process. Here’s how Tradesworld can assist:

Site Selection

Tradesworld helps identify prime locations for your Craving Momo franchise, ensuring high foot traffic and visibility. Services include:

Market analysis
Demographic studies
Lease negotiations

Financing Assistance

Tradesworld offers support in securing financing through:

Bank Loans: Assistance with loan applications and negotiations.
Government Schemes: Guidance through the application process for various government funding schemes.
Investor Networks: Connecting franchisees with potential investors.

Project Management

Tradesworld manages the project from start to finish, ensuring timely and cost-effective completion. Services include:

Overseeing store setup and installations
Coordinating with vendors for equipment and inventory
Ensuring compliance with local regulations and The Craving Momo’s standards

How to Apply for The Craving Momo Franchise

Step-by-Step Application Process

Research and Initial Inquiry: Visit The Craving Momo official website or contact their franchise department to gather information. Tradesworld can assist with this initial inquiry.
Submit Application: Fill out the franchise application form available on The Craving Momo website. Tradesworld can help ensure your application is complete and accurate.
Initial Meeting: Attend an initial meeting with The Craving Momo’s franchise team to discuss your interest, experience, and financial capability.
Review and Approval: The Craving Momo reviews your application and conducts background checks. Upon approval, you will receive a franchise agreement.
Sign Franchise Agreement: Review and sign the franchise agreement. Tradesworld can provide legal assistance to ensure you understand all terms and conditions.
Training and Setup: Attend the training program provided by The Craving Momo. Start the setup process for your store with Tradesworld’s project management services.
Grand Opening: Launch your Craving Momo franchise with marketing support from both The Craving Momo and Tradesworld.

Frequently Asked Questions (FAQs)

What are the ongoing fees associated with The Craving Momo franchise?

Franchisees typically need to pay ongoing royalty fees, which are a percentage of the monthly gross sales. These fees support the brand’s national marketing efforts and ongoing operational support.

What support does The Craving Momo provide to franchisees?

The Craving Momo offers comprehensive support to its franchisees, including initial training, marketing support, ongoing operational support, and access to a dedicated franchisee support team.

Can I own multiple The Craving Momo franchises with Tradesworld’s help?

Yes, Tradesworld can assist in establishing multiple Craving Momo franchise locations, offering the same level of support and ensuring consistency across all outlets.

How long does it take to open The Craving Momo franchise with Tradesworld?

The timeline can vary, but typically it takes about 3 to 6 months from initial inquiry to the grand opening of the franchise outlet.

Conclusion

In conclusion, can you make a profit with the Craving Momo franchise? In 2024, The Craving Momo is an excellent franchise opportunity where anyone can make a profit. With a low investment of 8 lakhs, you can start the business with no royalty fees, a 30 to 40% profit margin, a chef-less outlet, raw material supply, complete training for the employees, exterior and interior design, and help in tying up with online food delivery platforms. With all these benefits, it is a must-choice for those who want to start their first business. Also, consider competition for fast food in your location.

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Can You Make a Profit with The Craving Momo Franchise? in 2024

Cost of Opening The Craving Momo Franchise with Tradesworld

Detailed Cost Explanation

Profit Potential in 2024

Profit Calculation

How Tradesworld Can Help

Site Selection

Financing Assistance

Project Management

How to Apply for The Craving Momo Franchise

Step-by-Step Application Process

Frequently Asked Questions (FAQs)

What are the ongoing fees associated with The Craving Momo franchise?

What support does The Craving Momo provide to franchisees?

Can I own multiple The Craving Momo franchises with Tradesworld’s help?

How long does it take to open The Craving Momo franchise with Tradesworld?

Conclusion

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