Milton Hershey

Topics: The Hershey Company, Hershey, Pennsylvania, Chocolate Pages: 5 (1460 words) Published: March 23, 2014

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Milton Hershey

Milton Hershey was born September 13, 1857 to Fannie Snavely and Henry Hershey in the city of Derry Township, Pennsylvania. He had one sibling name Serina who was born in 1862. Fannie was the daughter of Bishop Abraham Snavely, who was of the Mennonite Church. His father too was a member of the Mennonite Church, but unfortunately, he always schemed “get rich schemes” that always seemed to fail. This would adversely affect the family, as there was not a stable environment for Milton and his sister. Milton attended several different schools due to this and never continued his studies after the 4th grade. He eventually moved to Nine Points, an area near the Lancaster, Pennsylvania Area. Coyle, M. L. (n.d.). Retrieved from http://hersheyhistory.org/library-archives/hershey/54-milton-snavely-hershey

It was in 1872 that Mr. Hershey became to discover his true calling. Fannie had discovered an apprenticeship opportunity with a confectionary shop owned by Joseph Royer. He became so fond of his practice that he decided to open his own shop at the young age of nineteen. Milton’s first company was in Philadelphia, Pennsylvania, where his biggest financial supporters were his mother Fannie and Aunt Mattie. This was however not meant to be. Milton’s competitors held too much of the market share and forced him to declare bankruptcy, as well as move back to the Lancaster area. Coyle, M. L. (n.d.). Retrieved from http://hersheyhistory.org/library-archives/hershey/54-milton-snavely-hershey

1883 was the year that Hershey established his second venture into the candy world. This time the location was in New York City. A problem with this venture is that his company had little capital to keep the business successfully operating. His Snavely uncles had become very disheartened after losing many of their funds while attempting to support Milton’s operations. At the age of 29, he was impelled to move back to the Lancaster area, as his uncles and father considered him to be a financial failure.

His friend William Henry Lebkicher was the individual who kept Milton’s spirits high. It was with his help and another loan from Aunt Mattie that he was able to gather the important items to begin making caramel. He was a dedicated leader, making his candies by day and using a cart to sell them by night. This habit brought him a stroke of luck, as an English businessman tried his samples and was impressed by Hershey’s fresh ingredients. Milton was able to obtain his first large order from the Englishman. The order was so large that he had to obtain a loan from Lancaster County National Bank to keep up with its high demands. Revenue from the order allowed him to pay off the loan and dive directly into the caramel business. Coyle, M. L. (n.d.). Retrieved from http://hersheyhistory.org/library-archives/hershey/54-milton-snavely-hershey

Soon after that venture, Milton was able to launch the Hershey Chocolate Company and continued to manufacture baking chocolate, caramel, and chocolate coatings for his caramel. It only took a mere four years after his previous failures to become a well-known millionaire in Lancaster. Milton’s success with caramel encouraged him to travel to confectionary shops all over the world and find additional inspirations for his products. He continued to expand his empire by selling the Lancaster Caramel Company for one million dollars. (n.d.). Retrieved from http://www.hersheytrust.com/hershey_heritage_trusts/

1903 was the year that the Hershey Chocolate Corporation came into existence. The original factory was spread on six acres of land and provided a pleasant and beautiful environment for Hershey’s employees. Besides failing to give up his dream after his former failed ventures, his care of his employees was another characteristic that made him a great leader. Milton wished for his employees to have a healthy and positive...

References: http://hersheyhistory.org/library-archives/hershey/54-milton-snavely-hershey
http://www.hersheytrust.com/hershey_heritage_trusts/
https://files.nyu.edu/fm812/public/hershey%20corporation%20background.html
http://en.wikipedia.org/wiki/The_Hershey_Company
https://ycharts.com/companies/HSY/net_income
http://www.wikinvest.com/stock/Hershey_Foods_%28HSY%29
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