Britain's Top 100 Entrepreneurs 2014: No. 14= - Tom Morris, Home Bargains

The discount retail entrepreneur is worth £2.05bn.

by Philip Beresford
Last Updated: 23 Oct 2014

Tom Morris started Liverpool-based discount Retailer Home Bargains back in 1976 aged just 21. He used a bank overdraft to finance the new business, whose takings averaged about £85-a-week. The low-key Morris had retailing in his blood. He is one of seven children of a shopkeeper in Liverpool's Scotland Road. Home Bargains developed rapidly growing at 20-25% a year from the start on the back of a distinctive niche. It only sells brand names, and it sells only products it can make a profit on, so customers are not confused by offers that could be here today and gone tomorrow. "Top brands at bottom prices" is the motto driving the business. Each of its 300 plus shops stocks up to 4,000 product lines, so customers can get a bargain on anything from pet food and cosmetics to confectionery and toys. It has expansion plans for the south of England. Its second distribution hub, costing £70m, is opening in Wiltshire to allow it to widen its presence in the south. It aims to expand to 700 stores and £2 billion turnover by 2020. 

Age: 60
Activity: Discount retailing
Wealth: £2.05bn
Latest turnover: £1058m
Five-year rise in turnover: 120%
No. of employees: 9238
Five-year rise in employment: 131%
Score: 70

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