DAD-of-two Rob Halliday-Stein started a business selling gold bars after losing his mum 10 years ago.
The 41-year-old had been left some money after she passed away and used £10,000 to start Bullion by Post.
Last year, the business sold £100million worth of gold and after starting out on his own, he now employs more than 40 people.
He told The Sun: “It was September 2008, the height of the banking crisis. I was looking to buy gold and silver.
“I was down in London and I popped into a dealer and there were people queuing out the door.
“From then I was convinced there was a market out there.”
At the time there were no online services selling gold and traditional suppliers weren’t interested in selling to individuals.
He quickly set up a deal with a supplier and then launched the website in September 2009 with just 10 products.
His offices, based in Birmingham, don’t hold the gold or silver bars, instead he works with vaults to deliver the products directly to customers.
Gold has a reputation as a safe option for investors, especially in times of economic uncertainty.
Over the last five years its price has increased by 10 per cent with a one ounce gold bar, which costs £1,000 to buy now, going up £88 in value – far more generous that the paltry savings rates offered by banks.
Rob’s top tips for a successful business
ROB has shared his top tips with The Sun for starting a successful business.
- It’s going to be hard work. Be ready for that.
- Spot the opportunity – it’s all about the idea and gap in the market.
- Take something that is already done well and do it better
- Build a good relationship with your customer and suppliers. Get really strong passionate suppliers that want to do business with you. You want the very best.
A gold sovereign coin £230-£240 the more you buy the more that comes down. A one ounce bar is just under £1,000.
And of course, Rob has his own collection of gold, mostly sovereigns and Britannias.
He says that most customers start with a small amount and keep building up their collection over time.
Rob added: “People just tend to buy more over time. The thing about gold is that it’s unusual that its wealth you can hold in your hand. It’s recognised all over the world.”
What’s next for the company? Rob hopes to develop his coin buying and selling business.
He said: “We’ve seen big demand for older rarer coins or people collecting designs of more modern coins.
“We’ve got the biggest selection of UK coins and we are very focused on expanding this and our jewelry side of the business.”