Opinions expressed by Entrepreneur contributors are their very own.
Contemporary out of an unfulfilling finance profession, Neil Hershman was in search of one thing completely different — one thing he may construct together with his personal fingers. 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 facet undertaking shortly spiraled into one thing larger. “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 go away all my different tasks and simply concentrate on 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 rivals had 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 working areas. 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 areas. His sudden journey from buyer to franchisee to CEO provides him a novel edge in in the present day’s crowded dessert market.
Hershman is behind a few of 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 pals, everyone seems to be a part of the client base. So it is simply concepts that we’ve.”
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 staff. That is why the primary particular person 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. “Someone who’s received 13 years of working a retailer open to shut and is aware of buyer interactions and [what] prospects need, learn how to make the most effective bang to 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 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 evaluate 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. “Though it feels monotonous that we’re packing the identical order each single day, there’s anyone 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 crucial.
“[Loyal customers] know what to search for finest,” he says. “These are actually necessary for us as a franchisor to know what is going on on with our areas, and for retailer operators to know what is going on on within the buyer’s thoughts.”
Associated: This Native Bakery Has Traces Out the Door. Right here Are the Secrets and techniques to Its Success.
Hershman and his staff hold an in depth eye on evaluate platforms like Yelp to assist refine operations and construct belief whereas protecting in thoughts that not each critique is a name to motion.
For instance, one of many challenges Hershman recognized will not be getting the complete image of a buyer’s expertise primarily based on their evaluate. “You simply get the sides, so it makes it a bit of exhausting to make use of these evaluations as a long-term resolution maker,” he says.
Nonetheless, crucial 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 actually particular moments for patrons, who will return for the constant expertise many times.
After taking on as CEO and reimagining 16 Handles for a brand new era, Hershman’s recommendation to entrepreneurs is straightforward however highly effective:
- Obsess over the buyer expertise. From staple merchandise to add-on companies, every thing 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 goal. Not each enterprise thought will see the sunshine of day, however specializing in fixed enchancment will hold your enterprise aggressive.
- See your enterprise by way of the eyes of a buyer. Spending time on the entrance traces can provide you a recent perspective on what’s working and what must be improved.
Hearken to the episode to listen to instantly from Neil Hershman, and subscribe to Behind the Evaluate for extra from new enterprise house owners and reviewers each Tuesday.
Editorial contributions by Jiah Choe and Kristi Lindahl
