At just 23, Neil Hershman walked away from a promising career in asset management and an impressive educational background in astrophysics to chase a dream that many would dismiss as risky. Today, at the age of 30, he is the CEO and majority owner of 16 Handles, a frozen yogurt brand that is defying industry trends and bringing in more than $20 million in annual sales. His story is one of bold choices, customer obsession, and spotting opportunity where others see decline.
A Search for Something Real
Hershman’s journey began in 2017 when he moved to New York City fresh out of college and quickly found himself disenchanted with the high-pressure world of finance. “I was looking for something that was a little bit more hands-on, down to earth and in person,” he told CNBC Make It. A regular visitor to the nearby 16 Handles, he decided to buy his first franchise in 2019 using nearly all of his savings—$160,000—and additional funding secured through a loan.
“I worked the register for full shifts, days in and out,” he recalls. “Through that, I learned the business from the inside.”
Rather than treating it as a side hustle, Hershman immersed himself in the operations. He saw firsthand how a lack of innovation had left the brand stagnant. By 2022, after expanding to six locations, he made a bold move—purchasing the entire company and becoming its largest franchise owner at the age of 27.
Breathing New Life into a Fading Category
Self-serve frozen yogurt chains were once booming, filling malls and shopping centers. Yet since 2016, the segment had been steadily shrinking, according to data from food service research firm Technomic. Hershman, however, saw an opening.
“Everybody thought frozen yogurt was fading… but we revived the category,” he said in the CNBC Make It interview. Under his leadership, in-store traffic has surged, same-store sales have grown over 10 percent year-over-year, and the chain added roughly 10 new locations since 2022.
Innovation Meets Customer Insight
Hershman’s strategy was simple—experiment with flavors that spark curiosity and fun. From limited-edition offerings like French fry, butter beer, and black matcha, to Harry Potter-themed treats, the brand leaned into playful, viral experiences.
“We used to have one girl who ordered every single day,” Hershman shared, reflecting on customer loyalty. “When you heard the printer at that time, you knew it was her order and what to do.”
His approach aligns with broader consumer trends. As David Portalatin, a food service analyst at Circana, explained in a report from CNBC Make It, frozen yogurt consumption increased by 10 percent in 2025 compared to the previous year. Nostalgia and health consciousness are driving the revival, as customers look for alternatives to traditional desserts like ice cream.
Hershman’s expansion plans are ambitious. He aims to grow 16 Handles to 100 stores within a few years, transforming it into a household name.
Finance Lessons Meet Froyo Fundamentals
Looking back, Hershman doesn’t regret his unconventional path. “My career in finance really taught me how to model risks, and in frozen yogurt, now I manage cookie dough inventory,” he quipped to CNBC Make It. “Both are very volatile markets, but one is a lot more fun.”
His advice to budding entrepreneurs is rooted in empathy and experience. “Obsess over the customer experience,” he told Entrepreneur.com. “Build customer loyalty at every turn. See your business through the eyes of a customer.”
A Search for Something Real
Hershman’s journey began in 2017 when he moved to New York City fresh out of college and quickly found himself disenchanted with the high-pressure world of finance. “I was looking for something that was a little bit more hands-on, down to earth and in person,” he told CNBC Make It. A regular visitor to the nearby 16 Handles, he decided to buy his first franchise in 2019 using nearly all of his savings—$160,000—and additional funding secured through a loan.
“I worked the register for full shifts, days in and out,” he recalls. “Through that, I learned the business from the inside.”
Rather than treating it as a side hustle, Hershman immersed himself in the operations. He saw firsthand how a lack of innovation had left the brand stagnant. By 2022, after expanding to six locations, he made a bold move—purchasing the entire company and becoming its largest franchise owner at the age of 27.
Breathing New Life into a Fading Category
Self-serve frozen yogurt chains were once booming, filling malls and shopping centers. Yet since 2016, the segment had been steadily shrinking, according to data from food service research firm Technomic. Hershman, however, saw an opening.
“Everybody thought frozen yogurt was fading… but we revived the category,” he said in the CNBC Make It interview. Under his leadership, in-store traffic has surged, same-store sales have grown over 10 percent year-over-year, and the chain added roughly 10 new locations since 2022.
Innovation Meets Customer Insight
Hershman’s strategy was simple—experiment with flavors that spark curiosity and fun. From limited-edition offerings like French fry, butter beer, and black matcha, to Harry Potter-themed treats, the brand leaned into playful, viral experiences.
“We used to have one girl who ordered every single day,” Hershman shared, reflecting on customer loyalty. “When you heard the printer at that time, you knew it was her order and what to do.”
His approach aligns with broader consumer trends. As David Portalatin, a food service analyst at Circana, explained in a report from CNBC Make It, frozen yogurt consumption increased by 10 percent in 2025 compared to the previous year. Nostalgia and health consciousness are driving the revival, as customers look for alternatives to traditional desserts like ice cream.
Hershman’s expansion plans are ambitious. He aims to grow 16 Handles to 100 stores within a few years, transforming it into a household name.
Finance Lessons Meet Froyo Fundamentals
Looking back, Hershman doesn’t regret his unconventional path. “My career in finance really taught me how to model risks, and in frozen yogurt, now I manage cookie dough inventory,” he quipped to CNBC Make It. “Both are very volatile markets, but one is a lot more fun.”
His advice to budding entrepreneurs is rooted in empathy and experience. “Obsess over the customer experience,” he told Entrepreneur.com. “Build customer loyalty at every turn. See your business through the eyes of a customer.”
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