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Contemporary out of an unfulfilling finance profession, Neil Hershman was searching for one thing totally different — one thing he might 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 operating the shop from open to shut.
What began as a facet mission shortly spiraled into one thing larger. “Open and shut, each single shift I used to be working,” Hershman says. “I used to be in a position to 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 concentrate on 16 Handles.”
At a time when different entrepreneurs have been retreating, Hershman expanded. He began constructing new shops throughout New York Metropolis throughout Covid-19, when retail leases have been low cost and rivals have been shuttering. “As a substitute of getting scared, I used to be the one coming in and constructing,” he says.
Quickly, he wasn’t simply operating places. He was main your entire 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 sudden journey from buyer to franchisee to CEO offers him a novel edge in at this time’s crowded dessert market.
Hershman is behind a number of the model’s wildest flavors, starting from Harry Potter references to “french fry frozen yogurt” (a play on McDonald’s steadily damaged ice cream machines). “I’m a part of the shopper base,” he says. “My household, my mates, everyone seems to be a part of the shopper base. So it is simply concepts that we have now.”
The outcomes converse for themselves. “Our gross sales development 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 group. 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. “Any person who’s obtained 13 years of operating a retailer open to shut and is aware of buyer interactions and [what] prospects need, how one can make the most effective bang on your buck on this enterprise.”
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 all the time come by across the similar time, to the purpose the place whenever 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 evaluate with an image of her froyo on her espresso desk. “Love this place, nice chocolate,” she wrote.
For Hershman, these few phrases have been a supply of encouragement. “Regardless that 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 confused the significance of paying shut consideration to evaluations, whether or not optimistic or essential.
“[Loyal customers] know what to search for finest,” 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 group preserve an in depth eye on evaluate 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 will not be getting the total image of a buyer’s expertise primarily based on their evaluate. “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.
Nonetheless, 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 repeatedly.
After taking up as CEO and reimagining 16 Handles for a brand new technology, Hershman’s recommendation to entrepreneurs is easy however highly effective:
- Obsess over the buyer expertise. From staple merchandise to add-on providers, the whole lot may 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 function. Not each enterprise thought will see the sunshine of day, however specializing in fixed enchancment will preserve your corporation aggressive.
- See your corporation by the eyes of a buyer. Spending time on the entrance strains may give you a contemporary perspective on what’s working and what must be improved.
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Editorial contributions by Jiah Choe and Kristi Lindahl