Neil Hershman is a self-proclaimed dessert-lover, and at 23, he didn’t care for “sitting in front of a computer all day” at his asset-management job. So he bought a 16 Handles frozen-yogurt shop. Then he bought two more.
Now in his early 30s, he is the chief executive officer of 16 Handles, overseeing about 40 franchised locations plus six of his own, Reuters reported.
16 Handles became New York City’s first self-serve frozen-yogurt shop when founder Solomon Choi opened the first one 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 have been keys to his success. As a new business owner, he performed every task needed to run the frozen-yogurt shop, including working as a cashier and even cleaning the bathrooms.
“The biggest thing that’s made me successful is [that] I like doing things, not just sitting around and talking,” Hershman told Reuters.
“You only get to know (a business) by absorbing it and doing it.”
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Another proactive step Hershman said he’s taken to expand his businesses is engaging with the local community, such as sports teams and school groups. He also embraces the publicity even less-popular frozen-yogurt flavors draw to his company.
“French fry frozen yogurt” flopped, Hershman said, but added, “It’s free marketing to have somebody come in, try a flavor, spit it out and then go home and tell their family and their friends about what they tried at 16 Handles.”
16 Handles features 16 flavors at every shop, along with a variety of toppings.
“Our library of Artisan flavors includes better-for-you frozen yogurt, all-natural ice cream and the best vegan options on the market — like oatmilk 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 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.
Startup costs for franchise establishments “can range from $10,000 to more than $5 million, depending on the sector, equipment and real estate requirements,” according to Reuters.
When Hershman purchased his first 16 Handles store in New York City, he used $160,000 of his own savings and a $300,000 U.S. Small Business Administration loan.
Then he set to work streamlining operations.
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“Very quickly, I doubled the profitability of the store, and our reviews were much better,” Hershman told Reuters. “The revenue went up. We got more customers.”
Hershman’s frozen-yogurt empire shows no signs of slowing down any time soon.
The global frozen yogurt market size was valued at $1.93 billion in 2025 and is projected to grow to $2.65 billion by 2034, Fortune Business Insights reported.
16 Handles stores can be found in Arizona, Florida, New Jersey, New York, South Carolina and Texas.
Hershman has plans to lead a national and international growth of the iconic Northeast brand, according to the 16 Handles website.
