While working at a bank, Debashish Majumder launched his first business, an ice cream shop, which ended up failing. Later, he quit his job and started Momomia, with just Rs 3.5 lakh investment.
Debashish Majumder, born in a lower-middle class Bengali family, began his career with a job paying Rs 1800 per month. When he ventured into business, he faced a severe setback. To repay the loans, he started selling momos. Over time, his business grew, and he is now the owner of the food startup Momomia. His monthly income exceeds Rs 2 crore, and he operates over 100 outlets in the country. Let’s read more about his success story.
Inspiration
Debashish was inspired to pursue business by his grandfather, who often said that one should focus on building a name rather than just earning money, as a good reputation lasts. This advice stayed with Debashish, and he dreamed of becoming a successful businessman from a young age. After finishing college, he started working at a private bank with a monthly salary of Rs 1800.
Launching startups
While working at the bank, Debashish launched his first business, an ice cream shop, which ended up failing and resulting in a loss of about Rs 8 lakh. Despite this setback, his determination remained unshaken. His dream of running his own business continued to drive him. In 2018, he quit his job and started Momomia, investing Rs 3.5 lakh. Initially, he had just three employees.
Momomia’s success
Debashish's inspiration to start Momomia came during a difficult financial period following the failure of his ice cream shop. Once, he tried momos from a restaurant in Guwahati and was so impressed that he decided to open his own momos outlet. In 2018, he launched the first Momomia outlet in Guwahati, with Rs 3.5 lakh in borrowed funds. Within a year, the business took off, and soon, more outlets of Momomia were established.
What began with just 3 employees has now grown significantly, employing 400 people. The business has expanded to over 100 outlets. The company's annual turnover has reached Rs 25 crore.
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