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Recent out of an unfulfilling finance profession, Neil Hershman was searching for one thing completely different — one thing he may construct along with his personal arms. That search led him to 16 Handles, a New York-based froyo model he frequented as a buyer.
Astrophysics diploma in a single hand, finance resume within the different, Hershman discovered himself behind the counter of his first 16 Handles franchise, sleeves rolled up and working the shop from open to shut.
What began as a aspect challenge shortly spiraled into one thing greater. “Open and shut, each single shift I used to be working,” Hershman says. “I used to be capable of advance the enterprise [and] usher in further income to the purpose the place the revenue was so nice that I made a decision to go away all my different tasks and simply give attention to 16 Handles.”
At a time when different entrepreneurs had been retreating, Hershman expanded. He began constructing new shops throughout New York Metropolis throughout Covid-19, when retail leases had been low cost and opponents had been shuttering. “As an alternative of getting scared, I used to be the one coming in and constructing,” he says.
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Quickly, he wasn’t simply working places. He was main all the firm.
Since buying the model from founder Solomon Choi in 2022, Hershman has led a nationwide growth of the froyo chain from 30 to 150-plus places. His surprising journey from buyer to franchisee to CEO provides him a singular edge in at this time’s crowded dessert market.
Hershman is behind among the model’s wildest flavors, starting from Harry Potter references to “french fry frozen yogurt” (a play on McDonald’s often damaged ice cream machines). “I’m a part of the shopper base,” he says. “My household, my buddies, everyone seems to be a part of the shopper base. So it is simply concepts that we now have.”
The outcomes communicate for themselves. “Our gross sales progress has been phenomenal, like once we launched french fry, or the Squid Video games-inspired taste, or the butter beer out of Harry Potter,” he says. “Our gross sales are up like 30-40% the week that we launched in comparison with prior years. So it actually does make a distinction.”
However constructing a thriving model takes greater than taste. It takes belief, consistency and loyalty — not simply from prospects, however from the crew. That is why the primary individual Hershman employed was Lisa Mallon, who co-owned the Fairfield, Connecticut, location along with her husband for 13 years.
“Who is aware of the model higher and believes within the model greater than individuals who have been profitable with the model?” Hershman says. “Anyone who’s obtained 13 years of working a retailer open to shut and is aware of buyer interactions and [what] prospects need, how one can make the most effective bang in your buck on this enterprise.”
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This technique helps the model keep constant, that are the callouts Hershman appreciates most in buyer evaluations.
“We used to have one lady who ordered each single day, and it might at all times come by way of across the identical time, to the purpose the place if you heard the printer printing at the moment, we knew it was her order and what to do,” he says.
In the future, she left a five-star overview with an image of her froyo on her espresso desk. “Love this place, nice chocolate,” she wrote.
For Hershman, these few phrases had been a supply of encouragement. “Although it feels monotonous that we’re packing the identical order each single day, there’s any person on the different finish who all day might be wanting ahead to this second of opening up this bag,” he says.
Hershman careworn the significance of paying shut consideration to evaluations, whether or not optimistic or essential.
“[Loyal customers] know what to search for greatest,” he says. “These are actually vital for us as a franchisor to know what is going on on with our places, and for retailer operators to know what is going on on within the buyer’s thoughts.”
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Hershman and his crew preserve an in depth eye on overview platforms like Yelp to assist refine operations and construct belief whereas maintaining in thoughts that not each critique is a name to motion.
For instance, one of many challenges Hershman recognized is just not getting the complete image of a buyer’s expertise based mostly on their overview. “You simply get the perimeters, so it makes it a little bit onerous to make use of these evaluations as a long-term determination maker,” he says.
However, essential evaluations can present readability, and good evaluations can construct credibility. Each are alternatives to develop as a enterprise.
Hershman’s story is about seeing potential the place others see plateaus and making really particular moments for patrons, who will return for the constant expertise time and again.
After taking on as CEO and reimagining 16 Handles for a brand new technology, Hershman’s recommendation to entrepreneurs is straightforward however highly effective:
- Obsess over the shopper expertise. From staple merchandise to add-on providers, all the things could be improved to construct belief and domesticate repeat enterprise.
- Construct buyer loyalty at each flip. Studying and responding to buyer suggestions lets prospects know their voices are heard.
- Innovate with objective. Not each enterprise concept will see the sunshine of day, however specializing in fixed enchancment will preserve your small business aggressive.
- See your small business by way of the eyes of a buyer. Spending time on the entrance strains may give you a recent perspective on what’s working and what must be improved.
Hearken to the episode to listen to straight from Neil Hershman, and subscribe to Behind the Evaluation for extra from new enterprise homeowners and reviewers each Tuesday.
Editorial contributions by Jiah Choe and Kristi Lindahl
