By Anurag Kumar

Copyright timesnownews

At just 23 years old, Neil Hershman made an unexpected pivot that would later become his greatest entrepreneurial triumph. Leaving behind a lucrative career in asset management and an academic background in astrophysics, he set out to chase a dream many would consider risky. Today, at age 30, Hershman stands at the helm of 16 Handles, a frozen yogurt brand that has been bucking industry decline, boasting annual revenues of over $20 million. How This Journey Began? Turning Disillusionment Into Opportunity Neil Hershman’s journey began in 2017 after he moved to New York City, fresh from college. The high-octane world of finance soon lost its appeal. “I was looking for something that was a little bit more hands-on, down to earth and in person,” he told CNBC Make It. Drawn to the neighbourhood self-serve frozen yogurt shop, Hershman purchased his first 16 Handles franchise in 2019, investing nearly all of his savings, about $160,000, alongside a bank loan. Rather than treating it as a passive investment, Hershman dove headfirst into operations. “I worked the register for full shifts, days in and out,” he recounted. This ground-up approach allowed him to intimately understand the business and recognise a critical insight: the brand was stagnant due to a lack of innovation. By 2022, after expanding to six stores, he made a bold decision, acquiring the entire 16 Handles brand and becoming its majority owner at the age of 27. Reviving a Shrinking Industry Once a mall staple, the self-serve frozen yogurt industry had been in decline since around 2016, according to data from food service research firm Technomic. Despite this, Hershman saw untapped potential. “Everybody thought frozen yogurt was fading… but we revived the category,” he shared in his interview with CNBC Make It. Under his leadership, the company’s in-store traffic surged, same-store sales increased by over 10% year-over-year, and approximately 10 new outlets were added since 2022. The brand’s trajectory stands in contrast to industry trends, driven by innovative strategies and customer-centric thinking. Flavours, Fun, and Viral Experiences Central to Hershman’s strategy has been a playful approach to product innovation. From limited-edition flavours like French fry, butter beer, and black matcha to Harry Potter-themed offerings, 16 Handles created an engaging experience designed to go viral. “We used to have one girl who ordered every single day,” Hershman reminisced. “When you heard the printer at that time, you knew it was her order and what to do.” Such customer-centric anecdotes reflect the brand’s dedication to building loyalty through thoughtful touches. Supporting this trend, David Portalatin, a food service analyst at Circana, told CNBC Make It that “frozen yogurt consumption increased by 10 percent in 2025 compared to the previous year,” driven largely by nostalgia and a growing health-conscious mindset among consumers seeking alternatives to traditional ice cream. Aiming for Major Expansion Hershman has big ambitions. He plans to scale 16 Handles to 100 locations in the coming years, aiming to make it a household name in the dessert and snack category. Reflecting on his journey, he told the outlet, “My career in finance really taught me how to model risks, and in frozen yogurt, now I manage cookie dough inventory. Both are very volatile markets, but one is a lot more fun.” Advice to Aspiring Entrepreneurs Neil Hershman’s experience led him to one core principle: “Obsess over the customer experience,” he advised Entrepreneur.com. “Build customer loyalty at every turn. See your business through the eyes of a customer.” His story serves as a powerful reminder that success often stems from identifying overlooked opportunities, being willing to take unconventional paths, and focusing relentlessly on what customers truly want.