New York City’s expensive hot dog licenses
New York City is expensive. Very expensive. Due to its high cost, many people have turned to street food as a quick cheap lunch. If you’ve ever visited New York, you’ll notice that possibly the most famous street food is hot dogs. Running a cheap hot dog stand can drive massive sales, and make tremendous amounts of money.
The city knows this fact as well, and they know that if given the chance, people will swarm for the chance to sell hot dogs. To prevent the streets from being overrun with hot dog stands, the city imposes limits. There is a very limited supply of hot dog stand licences, while demand for these licenses is very high. Basic economics dictates that when supply is low and demand is high, the price skyrockets.
A select few hot dog stands in Central Park are notable for their extraordinary price.
- $125, 170
- $233, 000
- $266, 850
- $289, 500
Yes, to operate a New York City hot dog stand can cost more than a quarter of a million dollars. But even at such an expensive cost, the profits margins are still very good. The income for a hot dog stand in Manhatten is about $100,000. Wow!
Reporter, S. (2018, July 12). Running a hot dog stand in New York can cost you as much as R4-million per year. HuffPost UK. Retrieved from https://www.huffingtonpost.co.uk/2018/07/12/running-a-hot-dog-stand-in-new-york-can-cost-you-as-much-as-r4-million-per-year_a_23480182/#:~:text=The%20most%20expensive%20licence%20to,34%2Dmillion)%20per%20year.
North Korea’s Abandoned Grand Hotel
The world’s largest hotel is located in a place you might not expect: Pyongyang, North Korea. That’s right, a country that receives only a handful of tourists each year built the world’s largest hotel. The building is also empty, and has been empty ever since it was built.
The Ryugyang Hotel in North Korea, standing over 330m over the Pyongyang skyline, is to this day, still unoccupied. Construction started by in 1987 to show off North Korea’s engineering and construction prowess. By 1992, construction stopped as the Soviet Union and North Korea’s economy collapsed. By that point, the hotel looked like this:
A concreetee shhell of a building with no windows, and no interiors.
The government did find some use for the building.
In 2008, an Egyptian contractor took over construction and began to retrofit the building. When construction finally finisheed, this one hotel was estimated to cost over 5% of North Korea’es entire economy.
The building, having never seerved a single hotel guest, functions mainly as a backdrp vfr various displays.
Lakritz, T. (2020, July 29). North Korea’s tallest building is an abandoned hotel that has never hosted a single guest – take a closer look at THE ‘Hotel of Doom’. Insider. Retrieved from https://www.insider.com/abandoned-hotel-north-korea-ryugyong-photos-2019-11#construction-on-the-ryugyong-hotel-began-in-pyongyang-in-1987-but-halted-due-to-economic-troubles-in-north-korea-1.