Costly business decisions and strategic missteps led Ample Hills to hemorrhage money, even as its sales and popularity grew. The couple “lost everything,” Smith, 53, tells CNBC Make It.
But a year later, they opened a new Brooklyn ice cream shop called The Social. And in June, they partnered with some investors to reacquire the Ample Hills brand for just $150,000.
Here’s how Smith and Cuscuna built a $40 million ice cream company, slowly lost it all and quickly started rebuilding again.