In the early 1970s, both Greenfield and Cohen were at major crossroads in their lives; neither was satisfied with nor particularly inspired by their careers thus far. In 1974, Greenfield moved to North Carolina with his fiancée to take what he now calls his ‘first retirement’ – a much needed three month break that allowed time for reflection. That same year, Cohen moved to the Adirondack Mountain region of New York, where he worked as a craft teacher at a local school for emotionally disturbed youth. For three years, he worked on this 600 acre property, building his own house, teaching pottery and other art techniques, as well as making ice cream with the students.
In all their years since graduating from high school, childhood pals Greenfield and Cohen never lost touch. They had often discussed starting a business together, but their dreams never managed to materialize. That is, until 1977, when the two again moved in together in Saratoga Springs, New York and decided to finally make something happen.
Both Greenfield and Cohen had an interest in the food business and after debating whether to focus on bagels or ice cream, they settled on ice cream as the product they would launch – the machinery for bagels was too expensive. Immediately, the pair began doing their industry research. They took a correspondence course in ice-cream making from Penn State University for a whopping $5, which convinced them they were on the right track.
After scouting a number of locations, Greenfield and Cohen decided to open their first store in Burlington, Vermont. Their first choice – Saratoga Springs – already had a popular ice cream parlor. Burlington was a student town, and couldn’t students, after all, always use a little bit of ice cream?
In May, 1978, Ben & Jerry’s Homemade Ice Cream Parlor opened up in what was previously an abandoned gas station that they had renovated using $8000 of their own money and $4000 borrowed. By creating unusual but tasty flavours – which was Greenfield’s job to manufacture – and sponsoring community festivals, word of the store quickly spread throughout the town. They soon hired additional employees, which gave Cohen and Greenfield time to travel across the country in their “Cowmobile”, serving free samples of their ice cream as part of their “cross-country marketing drive”. The Cowmobile caught fire in Cleveland and burned down, but the incident received much media attention and in the end, helped promote the duo’s venture.
By the end of 1984, Ben & Jerry’s had sales in excess of $4 million, double the figure from the previous year. By 1999, the company’s total revenue was $237. Through a strategy of engaging in social activism and corporate social responsibility and using all natural ingredients for their products, Ben & Jerry’s stood out in a highly competitive industry. In 2000, the company and its franchises were acquired by Unilever for $43.60 a share.
Today, though they are not involved with the company, both remain active with organizations that strive to create greater social responsibility among businesses.
The Sweet Taste of Success: Ben & Jerry’s Takes Off
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