Recently, Crain’s Chicago Business  published an article about Vienna Beef’s Hot Dog University.  Given the continued state of the commercial real estate industry many of our colleagues have had to "look" for new opportunities.  Hot Dog U struck me as just about the most entrepreneurial idea I have seen in a long time.  All of the skills a real estate professional has acquired are necessary to be successful in operating a hot dog stand:  drive, personality, street smarts and the ability to calculate cap rates on the fly, or at least make change for a $20 bill !  But the most important skill to make a success of a hot dog stand is LOCATION, LOCATION, LOCATION !!!  Watch the video below:

 

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Brad Kaplan

Brad assists Owners, Operators and Receivers of Hotel, Office and Industrial properties with their Real Estate, Finance, Leasing, Construction and Organizational challenges; specifically, negotiating and drafting hospitality, purchase, sale, financing, leasing, construction, franchise and management agreements. He has in the past and presently…

Brad assists Owners, Operators and Receivers of Hotel, Office and Industrial properties with their Real Estate, Finance, Leasing, Construction and Organizational challenges; specifically, negotiating and drafting hospitality, purchase, sale, financing, leasing, construction, franchise and management agreements. He has in the past and presently serves as general counsel and national real estate counsel to several domestic and internationally based public and privately held companies. Brad represents foreign businesses doing business in the United States and U.S. businesses doing business abroad; and is a former Chairman of World Services Group (www.worldservicesgroup.com) an international consortium of legal and other professionals. Brad has achieved the highest rating, AV Preeminent®, from Martindale-Hubbell®. He is an active member of the Illinois Bar and maintains an office in both the firm’s Cincinnati and Chicago offices. Brad is the editor of the Real Estate Advisor Law blog, a tool that highlights articles and observations of Ulmer & Berne attorneys on various trends and opportunities affecting the commercial real estate and construction industry, and is a frequent speaker on internet and social media issues.