Poundland entrepreneur now lives in luxury 13-bedroom mansion Steve Smith, 51, lives in a 13-bedroom mansion in Shropshire He opened his first shop at the age of 16 in West Bromwich The businessman opened his first Poundland in 1990 in Burton upon Trent He sold his share of the business in 2002 and bought this luxury home Times were tough for Steve Smith, the founder of Poundland, when he was growing up. At the age of just two he would find himself sat on his father's market stall freezing cold at 6am. But a brain for business obviously ran in the family as the entrpreneur went on to sell his company for £50million. Poundland boss Stephen Smith outside his mansion in Shropshire standing next to his Lamborghini Now Mr Smith, 51, lives in a 13-bedroom mansion in Shropshire which has its own swimming pool, snooker room and pub. The businessman is now making a start on his next venture - an online version of Poundland called poundshop.com. Mr Smith says his inspiration was his hardworking dad who ditched his job to become a trader selling pens door to door when he realised it brought in more money. This led his father to start a market stall before he bought his own cash and carry. Mr Smith remembers helping out on both the stall and in the cash and carry which is where he learnt the basics of business. Fancy a pint: Steve Smith behind the bar in his luxury 13-bedroom home in Shropshire Lucky break: After selling his share of Poundland its founder Steve Smith make a sweet £50million Mr Smith told The Sunday People: 'I used to be straight out of school and on the stall, loading vans, going round houses knocking on doors to try to sell things. It was a way of making pocket money. I was always interested in making cash. I'd get round to doing my homework later. I was more interested in getting in making cash. I'd get round to doing my homework later.' When most 16-year-olds would have been sitting exams, Mr Smith opened his first discount shop in West Bromwich. From rags to riches: Steve Smith's market trader father would be proud of his son now living in this home fit for a king Palatial: Steve Smith kneels next to his luxury pool in his Shropshire mansion which he bought after selling his share in Poundland for £50million Through the keyhole: Steve's Smith's hallway which leads to 13-bedrooms in his Shropshire mansion If items had lost their packaging they were put in a box and sold for 10p. The box was always popular and everything got sold which is where the idea for Poundland came. He managed to convice a shopping centre in Burton upon Trent to open a store in December 1990 and £13,000 of stock was sold on the first day. Mr Smith remembers working through the night to get the shop re-stocked for the following day. The boy did good: Poundland founder Steve Smith stands in his kitchen at his home in Shropshire Living the dream: Times were tough for Steve Smith growing up but now he gets to relax in this luxury living room which has its own jukebox A chandelier hangs over the large table in Steve Smith's dining room in Shropshire In 2002 he sold his share of Poundland for nearly £50million. By then the business had a million customers a week and 6,000 people were employed by the company. Mr Smith now finds himself living in a luxury mansion with his family while also owning homes in Florida and Majorca. Despite having enough money in the bank to retire, Mr Smith didn't want to stop working just yet and has launched a number of other businesses including one which offers investment loans to other entrepreneurs waiting for a lucky break.