Gap Finders - Steven Smith, founder of Poundland

Available for over a year

Steven Smith opened his first Poundland in 1990 in Burton Upon Trent, and quickly realised he had a formula for success. Steven grew up on the market stalls of the Midlands - his parents had stalls and he quickly learned what customers wanted, and how they loved to hunt for bargains. A cardboard box that unsold items were thrown into if they'd come out of their original packaging and could be sold for 10p quickly became the most valuable items on the store. Steven had the idea for Poundland from this cardboard box. Steven opened his shop with a loan from his Dad, and the shop took £13,000 on its opening day, he knew he had a formula for success and opened dozens of shops across the UK. Steven sold the business in 2002 because he wanted to spend more time with his family. But, he ran Poundland's online shop until recently and his sons are still involved in Poundland. Steven joins Winifred to talk about the success of Poundland, how the UK became hungry for discount shops, and why he knew it was important to take a step back to be with his family. PRESENTER: WINIFRED ROBINSON PRODUCER: LYDIA THOMAS