Entrepreneur has a great eye for what will sell

Nadir Lalani emigrated to the UK from Tanzania in 1971.

Three decades later, he has built up and sold two convenience store chains and is busy growing his 99p Stores discount chain.

Lalani opened his first grocery store in 1978, after working in the newsagent business.

By 1985 he owned 15 stores in London, mostly trading under the name of Lalani Food and Wine. He then acquired the 18-store Europa chain.

In 1989, he sold the business and worked briefly in property, but after the market collapsed, Lalani decided to return to the retail industry.

However, he found himself in a difficult position because he had sold Europa to close friends and was unwilling to set up shop in their backyard.

So, always keen to try something new, in 1991 Lalani bought two Whistlestop outlets in railway stations.

He decided to jump ship in 2001 when he observed that the multiples were encroaching into the convenience market and sold his 27 Whistlestop stores for a “very good price”.

He immediately moved into discounting. Now, three years later, his 99p Stores chain has 30 branches. Lalani has big plans to take him up to his retirement in 2008 – he intends to hand over a chain of 150 branches with a turnover of £400m to his two sons, who also work for the business.

Lalani describes the secrets behind his success: “There’s been a great deal of hard work and we’ve always had very good systems.

“I’ve also got a great eye for what will sell. You would be amazed at the range we have on offer – from groceries to household goods, gardening equipment and seasonal goods – and everything at unbelievable prices.

“I’m really enjoying the discount market,” he adds. “It’s fun and we’re buying great lines that people are queuing up to buy.”