If you managed to open a £1 shop online, providing you had some things that were worth buying, I'm sure you'd get a lot of customers, I'd have a scan through, but you'd have to see if it was worth it.
probably what your better doing (as I see you are a registered seller), is try selling some of your £1.00 products on this forum, see how fast they sell and how easy it is, if you find it worth while then think about a website. After all, lots of people visit this forum, and so you can see if its worthwhile!