Market analysis:
Momo (or dumplings) are a type of traditional food commonly found in many
cultures around the world. They are typically made by wrapping dough around a
filling, such as vegetables, meat, or seafood, and then either boiling, steaming, or
frying it. The main objective is to reach the youth audience of Canada. Especially
the international students. Momo is very famous street food in various south Asian
countries and the students who are far away from their home country would get
easily attracted towards this.
1. Market size and growth: Momo is a well-known cuisine in the south-east
part of Asia. As per Canada, it is known as the country of immigrants.
There are so many people from different countries therefore market for
Momo is big in Canada. The restaurant will offer different varieties of momo
such as fried momo, steamed momo, chili momo and so on, that will allow
us to increase the number of people.
2. Demographics: People of all ages from Nepal, India, China, and Japan is
the main target. Our restaurant also provides services according to people’s
choices and that makes us more flexible to different races and age groups
people.
3. Competitive Landscape: There are few restaurants that provide Momo as
main course and provide few varieties and authentic traditional type of
Momo that creates plus point for the success for our business.
4. Distribution channel: There will be a dine-in and take-out system for our
business. For takeout, there are so many online ordering apps such as uber
eats, skip, door dash etc. We will collaborate with them to increase our sells.
5. Consumer preference: In this market we must take care of the preference
of consumers. For this we have different kinds of Momo in flavor as well as
types such vegetarian, non-vegetarian, gluten-friendly, vegan and so on.
Marketing mix:
As Momos are locally made and consumed all over the Nepal and it is super easy
to make and with just few ingredients such as meat or vegetables filling and flour
covering steamed with tomato sauce.
1. Product: It’s a local product of Nepal and people are familiar with their
taste and easy to find all over Nepal. However, for international market like
Canada it can be a bit tricky to fit in the market and makes people’s choice
of food. It has simple ingredients and it’s easy to find in the local
supermarket. Products can be made in different varieties such as vegan and
other different kinds of meat such as chicken, buff, and pork. It can be easily
viable both in frozen and fresh version for easy access.
Menu:  Momo will be available as per preference of consumers like with
gluten without gluten.
 Veg and nonveg both will be available in all form of Momo.
 Momo made with whole-wheat are also available with some extra
charges.
Food
Steam Momo
Fry Momo
C-Momo
Jhol Momo
Quantity(pieces)
12
12
10
10
2. Price: Price of the product can be lowered relatively as ingredients are
easily a viable and easy to make don’t need much Laboure which is also key
factor to pricing. We can do competitive pricing for consumer satisfaction
and make it accessible for all groups of people despite their income they can
enjoy our local delicacy.
3. Place: As the price is competitive and mostly relevant to the existing fast
food it can be distributed through local grocery stores and supermarkets,
ethnic food stores and online platforms and food delivery. The best place to
start business will be the cities where the population of Nepalese people is
high such as Toronto and Vancouver.
4. Promotions: To target larger consumers, it can offer free samples in fairs
and supermarkets and farmers market and let the people ask their curiosity
and teach people how to make it. Promoting them on online platforms is one
of the ways to reach bigger
crowds.
Strength, Weakness, Opportunity, and Threat (SWOT) Analysis on Momo
1. Strength: Momo is a widely popular dish that can hold a sustainable
competitive advantage in the marketplace. The resources required are
economical to a certain extent and the same food can be served in varieties
of forms with different fillings. The Momo franchisor has established
systems and procedures for running a Momo business, which can make it
easier for beginners to start and run their business. They can also benefit
from the previous business models, which have been tested and refined over
time.
If prepared with due hygiene and healthy ingredients, Non-veg Momo are a
good source of protein and have a high fiber content. In addition, Momo that
are rich in vegetables, improve metabolism and boost energy. Momo, made
with whole wheat flour, are rich in vitamin B9 and help the body to produce
and maintain red blood cells. If prepared with a healthier recipe, Momo can
be a healthy addition to the diet of a diabetic person.
2. Weakness: Weaknesses are the areas, capabilities or skills in which Momo
lacks to consolidate and expand the market position. The initial cost to start
a Momo business can be high. Costs include rent fee, equipment fee,
franchise fee, supply fee, etc. Excess consumption of Momo can cause
weight gain, obesity, and lead to many health problems because they are
made by using refined flour or stuffing of semi-cooked vegetables like
cabbage and MSG which might be the reason behind the fall in Momo
business.
3. Opportunity: Launching a Momo stall or a small Momo restaurant is an
exciting and affordable way to step into the food industry. Many customers
seek food that is quick, inexpensive, and delicious. Momo are cost-effective,
convenient and filling and can be eaten by every age group. One does not
need much experience to start a Momo business. Furthermore, flexibility,
low investment, lower risk, and a great scope add to make Momo a great
business opportunity.
4. Threat: Because of the high level of competition, it would be difficult to
stand out amidst a large number of similar competitors and grab customer’s
attraction. Similarly, customers are willing to experiment and are volatile in
their preferences. Therefore, one should make sure you offer the best menu
at the most competitive rates, find a location that can offer a better footfall
with lesser competitors to challenge and try to improvise the food quality
and taste to maintain a lead in the market.