Nathan"s Famous Steak Sauce is wonderful on steaks, chops and hamburgers !!! About Nathan"s Famous Nathan"s began as a nickel hot dog stand in Coney Island in 1916 and bears the name of founder Nathan Handwerker. Handwerker, an employee of Feltman"s hot dog stand, was encouraged by celebrity clients Eddie Cantor and Jimmy Durante to go into business in competition with his former employer. Handwerker undercut Feltman"s by charging five cents for a hot dog when his former employer was charging ten. The original Nathan"s still exists on the same site that it did in 1916. Service is provided year-round inside, and during the summer additional walk-up windows are opened to serve the larger seasonal crowds. Every July 4th since 1916, the Nathan"s Hot Dog Eating Contest has been held at the original location on Coney Island. Contestants try to consume the most hot dogs (and buns) in a twelve-minute time period.