Only5Pounds.com to open first store tomorrow and there are plans to open over 100 across the UK
The variety discount shop plans to rival B&M on the high street by focusing on homeware, kitchen items and DIY tools
AN ONLINE discount shop is opening its first high street store tomorrow - and it plans to rival B&M by opening at least 100 more in the next three years.
Only5Pounds.com has been an online-only business since 2015 selling home furnishings, kitchen and dining ware, DIY tools, motoring accessories and cleaning products, with everything priced at £5.
Tomorrow it will open the doors at its first ever physical variety store in Northampton in a rare example of an online business taking on the high street.
Over the next three years, it plans to open at least 100 stores in total, starting with southern towns such as Harrow, Watford, Milton Keynes, Luton and Dunstable.
The next year, it will open stores in the Midlands, such as Leicester, Solihull, Birmingham, and Loughborough.
Managing director Vinod Chopra told The Sun that it will sell most of the same products in stores as it does online.
But it will start stocking food and drink items such as large boxes of chocolate that it does not offer online.
Only5Pounds.com prides itself on stocking the same items as other online retailers such as Amazon for much cheaper, and often compares its prices to its larger rivals on its website.
Mr Chopra said it will be similar to other variety stores such as B&M - but the difference is that everything will cost £5.
Mr Chopra told The Sun: "We're trying to bring back confidence in the high street and say that it's not always cheaper to buy online."
The high street has been in decline for the last few years, with many brands such as New Look, Prezzo and Mothercare reporting sales slumps and planned store closures.
Several have fallen into administration, such as House of Fraser, Maplin and Toys R Us.
But Mr Chopra claims that buying its products directly from the factory allows it to pass savings to its customers and allow its business model to thrive, despite now having to pay business rents and rates on physical stores.
He said: "High street stores are in trouble because of their own fault.
"If they can't keep up with margins that online shops provide then nobody is going to go there.
"We're saying we're better than online - and we are online as well, so why don't you have the best of both worlds?"
Most read in Money
Only5Pounds.com will also offer a click-and-collect service at every physical store it opens, so you can buy online and then pick up in store.
It currently has two dedicated collection locations in Milton Keynes and Kettering.
The only stock that won't be sold in stores are bulky furniture items such as bar stools, but these can still be bought from its website.
We pay for your stories! Do you have a story for The Sun Online Money team? Email us at [email protected] or call 0207 78 24516. Don't forget to join the for the latest bargains and money-saving advice.