Entrepreneurship
Klassen established a real estate firm in Los Angeles in partnership with Ben Burke. Klassen, believing that Burke was prone to drinking and gambling, bought him out and became sole proprietor. He hired several salesmen, including Merle Peek, who convinced him to buy large land development projects in Nevada. Klassen and Peek started a partnership called the Silver Spring Land Company. In 1952 Klassen sold his share of the company to Phillip Hess for $150,000 and retired.
On March 26, 1956 Klassen filed an application with the U.S. Patent Office to patent a wall-mounted, electric can-opener which he marketed as Canolectric. In partnership with the marketing firm Robbins & Myers, Klassen created Klassen Enterprises, Inc., and Robbins & Myers. In the face of competition from larger manufacturers which could provide similar products cheaper, Klassen and his partners dissolved the company in 1962.
Read more about this topic: Ben Klassen