This weekend I fell into that very scenario. As the hot dogs were going on the grill I realized we didn't have any chili and quickly thought about making my own chili with our freeze dried ground beef. It only took 5 minutes to make and tasted great. From now on we will definitely be making our own hot dog chili.
3/4 Cup Water
1 Tbs Ketchup
1 1/2 tsp Chili Powder
1/8 tsp Salt
Combine all ingredients in a sauce pan over medium heat for 5 minutes. Remove from pan and blend in a food processor until you reach your desired consistency. You can return the chili to your pan to keep it warm before serving.