Brad Smith (entrepreneur)
 | This article contains promotional content. (February 2016) |
Brad Smith | |
|---|---|
.jpg) Brad Smith | |
| Born | Bradley Smith 1 July 1987 Launceston, Tasmania, Australia |
| Nationality | Australian |
| Occupation(s) | Entrepreneur Motocross Champion |
| Years active | 2007 – present |
| Known for | Founder and Director of braaap 2010 Young Australian of the Year for Tasmania Australian Young Entrepreneur of the year |
| Website | http://www.braaap.com.au |
Bradley “Brad” Smith (born 1 July 1987) is an Australian entrepreneur, speaker, champion Superlite MX motocross rider and advocate for safe motocross riding practices. Smith is best known for establishing the motocross brand “braaap”[1] and the recipient of several achievement awards including 2010 Young Australian of the Year for Tasmania, Australian Young Entrepreneur of the year and International Young Entrepreneur of the year runner up.[2][3]
In 2008 Smith launched the first braaap store, a retail outlet intended to be “the motocross equivalent of a surf shop”.[1] braaap has since expanded to four retail outlets across Tasmania and Victoria, with a franchise model to enable further expansion throughout Australia, and the rest of the world.[4] In 2010 braaap signed a deal with NASCAR driver Marcos Ambrose to launch into the United States in 2011.[5][6]
Braaap is the 3 time Australian Specialised retail business of the year.[7]
About Brad
Bradley “Brad” Smith (born 1 July 1987) is an Australian entrepreneur, keynote speaker, champion Superlite MX motocross rider and advocate for safe motocross riding practices. Smith is best known for establishing the motorcycle brand “braaap” and the recipient of several achievement awards including 2010 Young Australian of the Year for Tasmania, Australian Young Entrepreneur of the year and International Young Entrepreneur of the year runner up.
Braaap
In 2008 Smith launched the first braaap store, a retail outlet intended to be “the motocross equivalent of a surf shop”. braaap has since expanded via company owned outlets and existing dealerships in Australia and via Distributors in Vietnam, Indonesia, Nepal, Ecudor, Mexico.
In 2010 braaap signed a deal with NASCAR driver Marcos Ambrose to launch into the United States in 2011. braaap Exited from the US in 2013 after winning a title at the Las Vegas Indoor MMSX.
Braaap is the 4 time Australian Specialised retail business of the year. Smith now resides between Launceston, Tasmania and Frankston, Victoria. Australia.
2007: Despite being told “street clothes and motorbikes won’t sell under the one roof”, Smith collaborated widely to develop a business model for a motocross lifestyle store aimed towards families and recreational riding. As a result, braaap stores not only sell mini bikes but offer a variety of street apparel, DVDs, equipment and motocross paraphernalia. Each store also has a club and provides access to coaching and in-store bike mechanics.
braaap’s exponential growth created challenges when procuring funding. Smith overcame this obstacle after winning awards for 2008 Australian Small Business Retailer of the Year and Australian Young Entrepreneur of the Years, both sponsored by the Commonwealth Bank. After the award ceremony Smith informally propositioned Commonwealth Bank officials who in turn agreed to provide braaap funding.
The first the braaap store opened in Launceston in 2005, with additional Tasmanian stores in Hobart and Devonport, and another in Frankston, Victoria.
“We are in the business of affordable adrenaline sports, my passion is the Superlite industry but as a retailer our concept store is designed to be the affordable adrenaline sport super store, we are using what we have learned from the Superlite industry to engage other affordable adrenaline sport that line up with our mission and values, E.g. BMX, Extreme POGO, Extreme Scooter, etc.” — Brad Smith, December 2010
2013: Refining the brand The braaap brand went through a major refinement in 2013 as its core customer went from the youth off road market with an average age segment of 15-23 year olds to the more sophisticated road segment with the average customer becoming 28 - 44 year old male. The over 50’s segment grew with the introduction of road motorcycles as did the female segment. braaap Concept stores took a major shift with the introduction of street legal range of motorcycles.
The product mix took a pivotal shift as braaap moved into the road legal market with the 125cc superlite Street and the 250cc “CAFE RACER”. The cafe racer proved a phenomenal success as reported by the Australian Financial review in December 2015.
"A 250 engine may not be huge on a normal road bike," Smith says. "But a cafe racer is stripped-back and light, so you get performance and fuel economy. A city bike really needs performance from zero to 80." – Brad Smith
Marcos Ambrose and expansion into the USA
NASCAR race driver and dual Australian V8 Supercar Champion Marcos Ambrose made his first visit to a braaap retail store in early 2010. Impressed with both the store and product, Ambrose bought three braaap bikes for cross-training and began negotiating with Smith to acquire the master franchise rights to introduce the brand and retail outlets into the United States in 2011.[5][6]
braaap in the community
braaap Club
braaap has established two permanent club facilities with plans to establish more. The aim is to provide a safe and fun riding environment for the entire family. Flat tracks are available for beginner riders while intermediate motocross tracks are provided for riders who wish to build skill and confidence. A Las Vegas replica supercross track is also available for advanced riders.[8]
Combating illegal riding
Prompted by an increase in illegal bike riding, Smith assisted various stakeholders in organising a venue for Superlite riders to practice and compete. As early as 2005 he approached the Launceston City Council to arrange allocation of land at Rocherlea for trail bike use.[8]
Condemning the practice of dangerous riding Smith hopes to work with police to determine a suitable disciplinary measure for those caught riding illegally:
“We want to do something like if your bike's impounded you come out to the local braaap club and do a course with us […] These kids have got so much passion – imagine if we could harness that passion and use it to develop their life skills.”
— Brad Smith, “New space for trail bike riders”, The Examiner Newspaper, 21 January 2010
Smith aims to provide young people with an outlet to receive adrenaline rushes through stimulating activities like trail bike riding rather than drugs, alcohol or crime.[8]
Adrenalin Plan
Frustrated by finance companies tightening as result of the Global Financial Crisis, Smith established Adrenalin Plan during 2010 to divide the cost of purchasing a motorcycle into affordable weekly payments. Mostly known for its redundant $3 a day marketing campaign, Adrenalin Plan has proven a tremendous success and propelled braaap’s year on year growth.
Smith stated the broader retail market could accommodate an on demand financing company and was seeking capital to expand into new markets.
“We need a ‘live life now’ style payment plan, people don't want to wait to go riding, we live in an instant world so we need to give people access to what they want fast!”
— Brad Smith, 2010 [citation needed]
During 2011 Adrenalin Plan partnered with a private equity company and re-launched in 2012 under new branding. The relaunch included a fully automated system, new management team and resources to build a financial operation with the capacity to satisfy the broader market.[9]
The industry – Superlite
Superlite is an emerging niche in the motorsport industry which Smith plans to develop into a professional sport and industry in its own right. He also aims to expand Superlite into affordable adrenaline sport which the whole family can enjoy through the braaap club and community group facilities.[10]
The term “Superlite” originated from braaap’s desire to rebrand the industry and create uniformity. Superlite bikes have been referred by many names, including “bikes”, “pitbikes”, “thumpsters”, “minibikes” and “50s”, none of which Smith considered empowering or a true reflection of the sport which they represent. Smith’s primary concern with terms such as “mini bike” or “pit bike” is the misassumption the bikes are small or a refer to a secondary level sport.[citation needed]
“Superlite riding is a full on action sport in the USA they have the Mini Moto SX, the largest Superlite race on the planet with up to 800 riders, and 10,000 fans. It’s a big deal. People ride Superlite bikes exclusively because they are high adrenaline, they are affordable and they are accessible. Superlite is a rebrand of our industry to bring not only an empowering brand to lead the sport but a professional look and feel that this great sport deserves.”
— Brad Smith, December 2010 [citation needed]
Australian Superlite Champion
In June 2010 Smith was placed as the highest ranking Australian at the World Mini SX Championships in Las Vegas. After the 2010 World finals he finished in 11th place, competing against full-time professional riders from around the world.[11]
Other
Speaking Engagements
Through ICMI Smith educates corporate audiences on expansion and development strategies that produce compounded and consistent growth. Smith often enters the stage wheel standing on a braaap motorcycle.[12]
Commonwealth Bank
During 2008 the Commonwealth Bank engaged Peter Switzer to interview Smith. The video became the most watched interview on the bank’s YouTube channel with over 100,000 viewers.[4][13]
Visa
Visa selected Smith as the inspirational story for their 2010 GoBiz campaign and produced two infomercials detailing his success. This resulted in a significant social media boost for braaap, stimulating public relations and advertisements in major Australian newspapers and business magazines.[14]
Trivia
- The name “braaap” originates from the noise produced by a Superlite engine and was also Smith’s childhood nickname.[4]
References
- ^ a b "About Brad Smith". braaap website. Archived from the original on 22 January 2011. Retrieved 27 November 2010.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "TAS Young Australian of the Year". TAS Young Australian of the Year website. November 2009. Archived from the original on 22 January 2011. Retrieved 27 November 2010.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Hayman, Paul (November 2009). "23 Year old entrepreneur first Aussie runner-up in JCI Awards in Japan". Dynamic Business. Archived from the original on 22 January 2011. Retrieved 2 December 2010.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ a b c Smith, Brad (June 2010). "braaap Case Study" (Interview). Interviewed by Switzer, Peter. Commonwealth Bank. Archived from the original on 22 January 2011. Retrieved 28 November 2010.
{{cite interview}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ a b Paine, Michelle (11 March 2010). "Tassie bike firm eyes US". The Mercury Newspaper. Archived from the original on 22 January 2011. Retrieved 28 November 2010.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ a b Millman, Oliver (7 September 2010). "braaap founder to expand business to the US". Smart Company. Archived from the original on 22 January 2011. Retrieved 28 November 2010.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "Five Minutes With... Brad Smith". Motorcycling Australia. 29 January 2010. Archived from the original on 22 January 2011. Retrieved 29 November 2010.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ a b c Cite error: The named reference
newspacefortrailbikeriderswas invoked but never defined (see the help page). - ^ "Braaap Adrenaline Plan TVC". Retrieved 14 February 2013.[dead link]
- ^ "Braaap Club". Archived from the original on 22 January 2011. Retrieved 29 November 2010.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "Smith becomes highest ranked Australian in World Mini SX Championships". Archived from the original on 22 January 2011. Retrieved 29 November 2010.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "Speaker Brad Smith – Speakers Bureau ICMI". Retrieved 14 February 2013.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Smith, Brad (June 2010). "Small Business Case Study: Building your business takes passion" (Interview). Interviewed by Switzer, Peter. Commonwealth Bank. Retrieved 20 February 2013.
- ^ "How Visa keeps up with braaap". Archived from the original on 10 April 2013. Retrieved 14 February 2013.
{{cite web}}: Unknown parameter|dead-url=ignored (|url-status=suggested) (help)