“I’ve probably done more in the past five years than most people do in their entire lifetimes,” says 23-year-old Vik Uppal. Five years ago, he founded Uppal Enterprises with his dad, helped develop their all-concrete construction product, and orchestrated a $5 million real-estate development in Shakopee—all while attending Bloomington Jefferson High School. “I was never the type of kid who liked to sit at home,” he says.
By 2005, Uppal Enterprises had completed $25 million in real-estate developments, which included the Village Plaza in Circle Pines, a complex of residences and retail space built entirely out of concrete. Uppal says the benefits of all-concrete construction include significantly lower energy and insurance costs, better soundproofing, and much greater strength and durability.
“We faced a lot of negativism in the beginning,” he says. “People didn’t see the value right away.” Now, with four or five new development projects in the works, Uppal reports “significant” financial growth for his company in 2006, and projects more growth in 2007. A whole lot more.
“We’re in the process of acquiring a number of different ventures in both the technology and media and entertainment fields,” he says. “Real estate is a great core part of our business, and something we plan to grow, but we want our company to be truly a global, diverse company.”
This spring, Sohan Uppal plans to join his son at Uppal Enterprises full time. In addition to being vice president of technology for Ohio-based power-systems manufacturer Eaton Corporation, Sohan Uppal spent 25 years investing in real estate, and he introduced Vik to the business at an early age.
Says Vik, “With the amount of experience and technical knowledge that my dad has—and the amount of business savvy that I bring—I don’t think that there’s any stopping us. My goal is to be number one in any industry we get into!”
After high school, Uppal earned a degree in finance from the University of St. Thomas—working 60 to 70 hours a week at the same time. “Like every true success story, when you start with nothing, you just do everything yourself,” he says. “That’s what my dad always taught me. Whether it’s painting the units or cleaning them, you can’t be afraid to get your hands dirty. I think that’s why a lot of the people who work around me respect me; I would never ask anyone to do anything that I wouldn’t do myself—or haven’t done myself.”
Uppal wants to help others find success. He’s writing a book about his business experiences, which he hopes will inspire someone “to be the next Jack Welch, or the next Vik Uppal!” He and his older sister, Prita, have created Aid India, a foundation dedicated to helping disadvantaged youth in India. And he is working with the University of St. Thomas to establish an Uppal scholarship for students who need financial support.
“What really motivates me is to be able to leave a lasting legacy,” he says. “To me, true greatness is when people can look in the mirror and say, ‘I gave it all I had today.’”
