[3] In 1949, at age 16, Reid went to work full-time in the men's furnishings department at Simpsons after he had been expelled from school for what he described as "misbehaving, setting a bad example, something that was quite small.
At age 22 he completed the company's management training program, but left Simpson's when he learned that his pay would remain fixed at $65 a week.
Reid chose Ottawa as the location for his first store because he believed that public service paycheques would ensure a customer base with a stable income.
[6] This initial choice would reflect a long-time focus on selecting locations (usually in small towns) that were sheltered from direct competition with other retailers.
In its first year, Giant Tiger’s total sales volume was only $139,781, and Reid had to rely upon his wife's income as a teacher to cover expenses.
The third innovation, which Reid has always insisted is the most important component of Giant Tiger's long-term success, was its unusual method of issuing franchises.
A 1980 article describes Giant Tiger's franchise system this way: The company charges franchisees $1 up front plus a percentage of annual sales.
"[7] The greater autonomy that could be permitted to franchise owners whose personal financial interests were symmetrical with those of the head office meant that there was less need for Giant Tiger to develop centralized systems.
Eleven years after Giant Tiger's first experiment with franchising, Reid emphasized the flexibility that it gave his company: "The weakness of the chain stores is that they try to standardize.
"[6] In the early 1990s, as rumours spread of Walmart's likely expansion into Canada, Reid began to prepare his company for the challenges that would be associated with a much more competitive retail environment.
He became a director of the Washington D.C.–based International Mass Retail Association[5] and began to travel regularly to American markets to study Walmart and the survival strategies of its more successful competitors.
In 1999, Reid resigned the presidency of Giant Tiger in favour of Jeff York, an executive with ten years' experience at the company.
The press release for the award cited both Reid’s history as founder of Giant Tiger and the company’s $2 million in annual donations to charity and community associations.