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Name: Suleman Sacranie
Company: 99pwholesaler.com
Age: 22
Web: www.99pwholesaler.com

The Midlands Young Entrepreneur of the Year has struck gold with a business set to revolutionise the wholesale sector

99pwholesaler was set up after founder Suleman Sacranie dropped out of a Chemistry degree at Leicester University, a decision that’s so far proved a wise one. His online discount retailer was launched in 2010, with the £500 he had in his bank account. Within a year he had raised investment from private equity firm Equity Plus Partners – something he today cites as one of his biggest achievements.

And now Suleman is projecting a £5m turnover within the next few years, helped by the comparison search engine “for the cash and carry and wholesale food and drink marketplace” he’s launching imminently, after which 99p Wholesaler will be launched as Wholesaler Supermarket. He credits his “excellent” team for his being selected as the Midlands Young Entrepreneur of the Year 2012, and together thinks they can “revolutionise the wholesaler sector, which has been my aim since day one”.

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Suleman Sacranie named Entrepreneur of the Year

The founder of an online discount store has been named Midlands Young Entrepreneur of the Year.

Suleman Sacranie, of Leicester, is the brains behind 99pWholesaler.com.

He won the award at a ceremony held on Friday 3 February at the NEC Hilton Metropole Hotel.

99p Wholesaler.com is the third company to have been set up by Mr Sacranie, who operates out of premises at De Montford University. It features daily deals across the FMCG industry at competitive prices and offers branded goods for bulk purchases by retailers in a similar way to the traditional cash and carry model but online.

Mr Sacranie said: "I am delighted to have won this award. It recognises the huge efforts my team have put in and the support of my backers."

Suleman was entered into the competition via the University of Leicester- he is a former student of the University of Leicester.

He also paid tribute to the University of Leicester in the acceptance speech and Rajinder accompanied him to accept the award.

This is the sixth year that the awards, organised by Leamington Spa-based UK Special Events, have taken place. Its MD Harj Sandher said: “We are delighted with the quality of the entrants this year and very pleased for Suleman. His drive and enterprise are quite breathtaking for someone so young.”

At the same event, Professor Sir Robert Burgess, vice-chancellor of the University of Leicester, received the Lifetime Contribution to Midlands Business award in recognition of his work at the institution.

Prof Sir Robert said: "I am delighted to receive this award which highlights the work of the University of Leicester as a business with higher education at its very heart.

"The achievements would not have been possible without the considerable help and support of many colleagues in the institution over the past 12 years."

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ENDS

Issued by Guy Ashworth,
HCK Communications,
01926 420800 info@hckcomms.co.uk

99p Wholesaler Selected As Finalist's For Young Entrepreneur Award

Leicester University well represented in business awards finals

Three contenders to have made through to the finals of the 2012 Midlands Business Awards all have strong links with the University of Leicester.

They are among 47 finalists competing in nine categories, which bring together the best of Midlands business and culminate in a gala awards ceremony on Friday 3 February at the Hilton Metropole Hotel in Birmingham.

Professor Bryan Williams, of the Department of Cardiovascular Sciences at Leicester University, is among the final five in the Midlands Innovation of the Year category. This is principally for his work with colleagues in the NHS and the private sector to develop much more accurate blood pressure testing equipment.

His university is shortlisted alongside Birmingham, Aston, Derby and Northampton in the Midlands University of the Year section.

Meanwhile one of the final six in the Young Entrepreneur category also has a firm relationship with the same institution. 99p Wholesaler.com is the third company to have been set up by Leicester graduate Suleman Sacranie. 99p Wholesaler features daily deals across the FMCG industry at competitive prices and offers branded goods for bulk purchases by retailers in a similar way to the traditional cash and carry model but online.

This is the sixth year that the awards, organised by Leamington Spa-based UK Special Events, have taken place. According to its MD Harj Sandher, the quality of the entrants has increased again this time around.

“We have some very impressive entrants in the 2012 awards and we are really excited to find out who will take the crown as the top performers in all the categories of the competition. The strength of the awards reflects the calibre of company and individual putting themselves forward.”

Last year’s overall winner as Midlands Business Person of the Year was Daniel Gidney, chief executive of the Ricoh Arena in Coventry. He has no doubt of the benefits of winning the award.

“It was fantastic for me as an individual but without doubt the Ricoh has benefitted from the award. It helped in attracting the National Local Enterprise Partnership conference, with David Cameron and Nick Clegg, to the Ricoh,” he said.

ENDS

The full list can also be found at:
http://www.midlandsbusinessawards.com/2012-finalists.html

For more information, please contact:
Harj Sandher, UK Special Events
07949 632388 or info@ukspecialevents.com

Issued by Guy Ashworth,
HCK Communications,
01926 420800 / 07971 680883 or info@hckcomms.co.uk

Private Equity Investor Quashes Rumors

Press Release - Equity Plus Partners – London 6th September, 2011

Equity Plus Partners today commented on the recent speculation that 99pWholesaler may have been sold to a trade buyer.

Atul Devani of Equity Plus Partners Said, "The Company has been receiving an unprecedented number of calls from the press and trade to confirm if the Company had been sold. We would like to inform all our customers and business partners that no such transaction has been tabled to the Company or any formal offers received. 99pWholesaler was set up to offer a new and unique method of bringing together daily deals from an enormous source of manufacturers, wholesalers and trade suppliers. We know that independent retailers are consistently being put under pressure to search for deals as the traditional methods of supply have relied upon a few national Cash and Carry outlets who have maintained their domination of the industry for many years”.

Suleman Sacranie, Managing Director also commented, “Our aim has not been to compete directly with these outlets that will often stock a higher range of products, but to quench the thirst of Independent Retailers to find deals at better prices, with the convenience of having goods delivered free, directly to their door. There is a constant search for the top 20% of products which often can be found cheaper than in the traditional Cash and Carry. We aim to make that easier by providing a platform that makes these deals available directly to the retailer. Cash and Carry’s will continue to play a part in supplying businesses for some time to come but we want to make the Retailer’s requirement to find deals from one site a reality by giving them what they want, A deal everyday, of every week, of every year”.

Commenting further on the recent speculation on Cash and Carry’s wanting to buy the Company, Atul commented:

"It is clear that we have something to offer that has not only captured the attention of our customers, but also the attention of the traditional players.
We are happy to work with Cash and Carry’s and respect very much the service they provide. However, there are many localised wholesale providers who cannot reach the custom of all businesses across the UK and we can help change that, for the mutual benefit of both suppliers and our customers.

We have invested in a dedicated and talented management team who continue to remain focussed on launching the exciting 2nd and 3rd phases of our business which will further enhance our offering bringing a greater number of suppliers and ranges of products and change the way business is done in this industry".

About Equity Plus Partners

Equity Plus Partners is an investment management firm, which was formed in 2008 by Atul Devani, Richard Scott and a team of highly experienced entrepreneurs, each of whom has successfully built and exited a number of companies including trade sales and public listings on the AiM market prior to forming Equity Plus Partners. Their objective is to invest in or acquire technology led businesses and companies that they believe have the potential to reshape the markets in which they operate or indeed create an entirely new market. They provide management assistance to, established or new start-up businesses in the UK and beyond. The EPP management team has significant expertise in operating in publicly quoted markets, in both principal and advisory capacities. Our operational experience in areas such as sales, marketing and financial management, coupled with our skills as business entrepreneurs, make them an ideal partner for any business that is looking to grow and develop - and to ultimately create the returns for all concerned.

Major cash boost for entrepreneur

A young entrepreneur has won a six-figure investment from a private equity fund.

Suleman Sacranie won the substantial investment to help him launch 99p Wholesaler.com, which went live earlier this month.

The cash and carry site sells soft drinks to corner shops and independent supermarkets from its office at the De Montfort University Business Innovation Centre.

It will start selling crisps and sweets in the next few weeks before moving into other products such as cigarettes and alcohol.

The investment was overseen by Luton-based Equity Plus Partners, which was launched by partners Atul Devani and Richard Scott in 2008.

Mr Devani said they had brought together a number of investors to put between £50,000 and £100,000 each in the business and take a majority stake.

He would not divulge the total amount, but said the investors included Peter Carpenter, a former director of telecommunications firm One-2-One.

Mr Sacranie already runs a online discount supermarket called 99p Shopper.com, offering food and household products for 99p or less, which secured £100,000 of in-kind help and support from Nottingham web development company Eventure in 2010.

He was encouraged to launch the wholesale website after pitching to Equity Plus Partners at a Dragon's Den type event last year.

He said: "It's been really exciting but a lot of hard work and lots of long hours.

"99p Shopper.com is still going but the main focus now is the wholesale website, where the profit margins are higher."

He said the site offered deals and sourced straight from the manufacturer, guaranteeing the highest quality products.

The 21-year-old, from Uppingham Road, Leicester, quit a chemistry degree at the University of Leicester to go into business.

He said offering an online service meant he could undercut traditional cash and carries because there was no need to pay for store premises and warehouses.

It is also more convenient for customers and the business has a delivery contract with Broughton Astley's Cobley Transport.

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Asian Today Young Achiever 2010 - How Suleman Sacranie Quit His Studies To Become 99p Entrepreneur

99 problems…but shopping ain’t one! Asian Today Feature 99p Shopper

99 problems…but shopping ain’t one!

How student Suleman Sacranie quit his studies to become 99p entrepreneur!

A YOUNG Leicester entrepreneur is becoming a household name – thanks to his budget online shopping website!

Discount shopping website 99pShopper.com caused a sensation when it launched on the web in August, offering popular brand-name items at just 99p or less.

The site was launched by 21 year old Suleman Sacranie who is already hoping to franchise the concept and expand into shops across the UK and Europe.
The site is proving to be a hit with ex-pats eager to snap-up their favourite British food brands online and is also already popular with UK based bargain hunters with an amazing 12,000 orders taken in the first two weeks of trading.

Suleman said the idea for 99pShopper.com was inspired by his father Aziz, a former shopkeeper from Leicester.
“I grew up above a small supermarket so it's fair to say retail is in my blood,” Suleman told The Asian Today.

“My Dad opened the shop on the day I was born – dashing out of the hospital to sign a contract and then dashing back again to be at my mother's side.
“My Grandad also has a string of shops in Leicester so I grew up around business and that certainly rubbed off on me.”

But despite this family background in retail when it came to launching his own business Suleman said he faced some opposition from his family.
He said: “My parents urged me to go into one of the professions rather than go down the business road. So I ended up studying chemistry at Leicester University but the academic life just wasn't for me.”
He was so unhappy that he decided to launch his own business and has now placed his chemistry studies on indefinite hold while he concentrates solely on 99pShopper.com.
He said: “The idea came to me last summer. I was lying in the bath racking my brains. I knew I didn't want to return to university where I was bored and unfulfilled.

“I was thinking about my Dad's shop and the rise of discount stores such as Poundland during the recession. It hit me like a bolt of lightning. Why don't I build an online discount store? A shop that sells everything you can get in a supermarket but all for 99p or less.

“I jumped out of the bath and ran to tell my dad. He immediately said, 'Brilliant idea let’s make it happen.' His support was really fantastic.”
Family connections helped when it came to sourcing suppliers but turning his business dream into a reality wasn't all plain sailing. Suleman had problems with web developers before finally finding the right company to build his site.

He said: “The one piece of advice I would give to any other entrepreneurs is don't outsource your web development outside the UK. I tried and it was a terrible experience. It's taken every ounce of my determination and self belief, to come back from that and make the site a success. I finally found a great UK based developer who has helped me to create a site I'm very proud of.”

Suleman's web developers have helped him create an easy to use site which presents his bargains well and which has already had a huge impact with British shoppers.
A return to chemistry studies looks unlikely.

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