Young entrepreneur turns humble dessert shop into rapidly expanding empire
Neil Hershman is a self-proclaimed dessert lover and, at age 23, didn’t mind “sitting in front of a computer all day” at his asset management job. So he bought a frozen yogurt shop with 16 Handles. Then he bought two more.
Now in his early 30s, he serves as chief executive officer of 16 Handles and manages nearly 40 franchise locations, as well as six of his own. Reuters reported.
16 Handles became New York City’s first self-service frozen yogurt store when founder Solomon Choi opened his first store in 2008. Hershman acquired the brand in 2022.
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Hershman said his passion for hands-on work and willingness to learn through experience are keys to his success. As a new business owner, she performed every task required to run the frozen yogurt shop, including working as a cashier and even cleaning the bathrooms.
“The biggest thing that makes me successful is [that] I like to do things, not just sit and talk,” Hershman told Reuters.
“You can only get to know (a job) by absorbing it and doing it.”
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Hershman said another proactive step he took to expand his businesses was to engage with the local community, such as sports teams and school groups. He also embraces his company’s promotion of even less popular frozen yogurt flavors.
“Frozen yogurt with French fries” was a flop, Hershman said, but added: “It’s free marketing for someone to walk in, try a flavor, spit it out, and then go home and tell their family and friends about what they tried at 16 Handles.”
16 Handles offers 16 flavors with a variety of sauces at each store.
“Our library of artisan flavors includes the best vegan options on the market, like better-for-you frozen yogurt, all-natural ice cream and oat milk soft serve, and real fruit sorbets,” the 16 Handles website says.
Mike’s Hot Honey frozen yogurt “with a kick of heat,” Butter Beer, Tiger’s Blood, and Dune Spice are some of the company’s other unique flavor offerings.
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They also sell high-protein, gluten-free and low-fat yogurts.
According to Reuters, start-up costs for franchise organizations “can range from $10,000 to $5 million, depending on the industry, equipment and real estate requirements.”
When Hershman purchased the first 16 Handles stores in New York City, he used $160,000 of his own savings and a $300,000 U.S. Small Business Administration loan.
He then started working to streamline operations.
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“Very quickly I doubled the profitability of the store and our reviews got much better,” Hershman told Reuters. “Revenue increased. We gained more customers.”
Hershman’s frozen yogurt empire shows no signs of slowing down anytime soon.
According to a report by Fortune Business Insights, the size of the global frozen yogurt market stood at $1.93 billion in 2025 and is expected to reach $2.65 billion by 2034.
The 16 Handles stores can be found in Arizona, Florida, New Jersey, New York, South Carolina and Texas.
According to the 16 Handles website, Hershman plans to lead the national and international growth of the iconic Northeast brand.
