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Contemporary out of an unfulfilling finance profession, Neil Hershman was on the lookout for one thing totally different — one thing he may construct along with his personal palms. 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 rapidly 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] herald further income to the purpose the place the revenue was so nice that I made a decision to depart all my different initiatives 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.
Quickly, he wasn’t simply operating places. He was main the complete 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 novel edge in at the moment’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 incessantly damaged ice cream machines). “I’m a part of the client base,” he says. “My household, my mates, everyone seems to be a part of the client base. So it is simply concepts that we now have.”
The outcomes communicate 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 together 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 acquired 13 years of operating a retailer open to shut and is aware of buyer interactions and [what] prospects need, the way to make the very best bang in 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 woman who ordered each single day, and it could all the time come via 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 evaluation 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 individual on the different finish who all day might be trying ahead to this second of opening up this bag,” he says.
Hershman careworn the significance of paying shut consideration to evaluations, whether or not constructive or vital.
“[Loyal customers] know what to search for greatest,” he says. “These are actually necessary 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 hold an in depth eye on evaluation platforms like Yelp to assist refine operations and construct belief whereas conserving in thoughts that not each critique is a name to motion.
For instance, one of many challenges Hershman recognized isn’t getting the total image of a buyer’s expertise based mostly on their evaluation. “You simply get the sides, so it makes it just a little arduous to make use of these evaluations as a long-term choice maker,” he says.
However, vital 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 up as CEO and reimagining 16 Handles for a brand new technology, Hershman’s recommendation to entrepreneurs is straightforward however highly effective:
- Obsess over the buyer expertise. From staple merchandise to add-on companies, all the things will 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 concept will see the sunshine of day, however specializing in fixed enchancment will hold your corporation aggressive.
- See your corporation via the eyes of a buyer. Spending time on the entrance strains can provide you a recent perspective on what’s working and what must be improved.
Take heed to the episode to listen to immediately 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
