On the Tank
She has been in the frozen momos business for the past 5 years. The Momos are 100% natural, preservative-free, tasty, with an authentic Himalayan taste, and have a shelf life of over 4 months. Over 80000+ frozen momos have been sold to hotels, restaurants, and cafes (HORECA) to date and have a front-end quick-service restaurant named “YANGKIEZ.”.
Why Momo Mami started the business?
Aditi finds it difficult to find authentic and traditional Himalayan cuisine on the streets of Delhi NCR. Hence, decided to change the way India eats.
Aditi aims with the vision of making BluePine Foods India’s number 1 Himalayan food processing company. specializing in making handcrafted momos in different shapes and variations made up of Fine Flour(Maida) and wheat flour(Atta).
“MOMO MAMI” is acing the category by Selling over 80000+ momos in Hotels, Restaurants, and Cafes(HORECA) and serving directly to the consumer with their QSR model named “YANKIEZ” being present with 4 stores in Karol Bagh(Delhi), Dlf phase-4(Gurgaon), Baani Square GH-8(Gurgaon), Sector 19, (Faridabad) as per their post of July 2024.
Shark Tank Live
Ask
₹50 lakhs for 5% of equity in the company making the valuation stand at 10 Crores. To be used to open outlets, facility enhancement, and working capital requirements.
Demo Review
Key pointers while giving the demo of the product to the sharks:
- I love momos and these are delicious said Aman Gupta and all others agreed.
- The schezwan sauce is less oily and amazing said Vineeta Singh.
Business Model of Momo Mami
MOMO MAMI is dealing with 2 different revenue models
- B2B- Wherein they supply frozen momos to hotels, restaurants, and cafes (HORECA).
- QSR- Which stands for quick service restaurants (D2C)
Sales and Revenue
Co-founder Rohan stated that they have touched the mark of 3.60 Cores over the past 5 years, having 9Lakhs, 27Lakhs, and 47Lakhs in the first 3 years respectively. After introducing QSR in the fourth year the sales jumped to 74Lakhs and then 1.09Crores in the fifth year.
However, due to the pandemic the sales declined to 95Lakhs in the first quarter and 50Lakhs in the second quarter.
On being asked about the revenue split by Ashneer, Co-founder, Naveen stated that before the pandemic the revenue split was B2B(60%) and D2C(40%). However, the business took a slight turn after the pandemic and IT BECAME B2B(40%) and D2C(60%).
Feedbacks from the sharks
Anupam- Ashneer’s offer is great and I can’t match that. So, I am out.
Namita- Ashneer’s offer is great and since I can’t relate to this industry. So I am out.
Offer for Momo Mami
- Ashneer- 50Lakhs for 7% equity(valuation-7.14Crores)
- Vineeta- 50Lakhs for 20% equity(valuation-2.5Crores) only for BluePine Foods.
- Aman – 50Lakhs for 12% equity(valuation-4.16Crores)
Counter offer
₹50 lakhs for 10% or ₹75 lakhs for 12%.
Deal with Momo Mami
Aman, Ashneer, and Vineeta would come(25Lakhs each) at 75Lakhs for 16%equity(valuation-4.68Crores)
Momo Mami Beyond the tank updates
Beyond Tank constantly provide updates and follow-ups about the entrepreneurs from the day they appeared on Shark Tank India.