Brad Smith (entrepreneur)

For other people of the same name, see Brad Smith.
Brad Smith

Brad Smith
Born Bradley Smith
(1987-07-01) 1 July 1987
Launceston, Tasmania, Australia
Residence Legana, Australia
Nationality Australian
Occupation 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]

Personal life

Smith was born in Launceston, Tasmania, Australia to parents from a middleclass background who grew up in a government housing commission residences.[8] Smith acknowledges he was neither the most popular or academically successful student at school and attributes much of his success to his parents who encouraged him to think big and believe in himself.[2]

His parents purchased his first motorcycle when he was four years old, fuelling his passion for motocross.[1] Smith has channelled this passion into the braaap club and community group, initiatives which assist young people to discover their own interest in affordable adrenalin sports. He states his life mission is to “educate people on how to get their adrenaline rush from action sport or their passion rather than from drugs, violence and alcohol.”[9]

Smith is involved with the Tony Robbins Platinum partnership which has assisted to establish soccer programs throughout Israel. These programs unite families in communities through their enthusiasm for soccer in troubled regions like Hebron.[10]

Smith now resides in Legana, Tasmania.[2]

braaap

Initial attempt

At age 16 Smith had a vision to establish mini motocross Superlite MX in Australia. In 2004 he identified the need to develop an affordable Superlite pit bike which could be ridden and jumped confidently by adults.[1] To raise funds to import his first shipment of mini bikes from China, Smith worked numerous jobs and undertook various small entrepreneurial activities including manufacturing Hacky Sacks, selling movie posters on eBay, mowing lawns for the elderly in his neighbourhood, and trading options on the US stock market. Despite investing considerable time in these undertakings, he deemed the quality of the bikes as unsatisfactory upon their arrival.[4]

Founding of braaap

Evermore determined Smith set about designing his own bikes and researched the market extensively. He frequently travelled to mainland Australia where he participated in motocross events to build his reputation and accumulate knowledge from the best motocross riders. At the time Smith was a provisional driver and could not hire rental cars, so to overcome this limitation he sponsored riders to participate in the events he was unable to attend.[1]

Through these experiences Smith ascertained the requirements to build mini bikes capable of rivalling the American models. Lacking the means to produce them he saw no choice but to visit China and source a manufacturer capable of building mini bikes to his specification.[11]

Despite having little international business experience and no distribution channels, upon turning 18 Smith embarked on a two-week venture to liaise with Chinese motorcycle manufacturers. He was ridiculed by dozens by business managers but eventually found a manufacturing plant willing to support his vision.[11] braaap motorcycles are now manufactured by engineers and companies across the world, the front suspension in Italy, exhausts in Europe, bike frames in France, engines in Japan and performance parts in the United States. The motorcycles are assembled locally by mechanics in Braaap stores to ensure quality and reliability.[1]

braaap retail stores


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.[1]

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,[12][13] both sponsored by the Commonwealth Bank. After the award ceremony Smith informally propositioned Commonwealth Bank officials who in turn agreed to provide braaap funding.[14]

The first the braaap store opened in Launceston in 2008, with additional Tasmanian stores in Hobart and Devonport, and another in Frankston, Victoria.[15]

“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

Franchise Model

Working meticulously with the legal and consultancy firm DC Strategy, Smith spent three years developing a franchise model to enable the replication of braaap’s retail store format throughout Australia and eventually the rest of the world.[14][16]

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.[9]

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.[9]

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.[9]

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

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.[17]

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.[18]

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.

“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

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.[19]

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.[20]

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][21]

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.[22]

Trivia

References

  1. 1 2 3 4 5 6 7 "About Brad Smith". braaap website. Archived from the original on 22 January 2011. Retrieved 27 November 2010.
  2. 1 2 3 "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.
  3. ↑ 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.
  4. 1 2 3 4 Smith, Brad (June 2010). braaap Case Study. Interview with Switzer, Peter. Commonwealth Bank. Retrieved 28 November 2010. Archived 22 January 2011 at WebCite
  5. 1 2 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.
  6. 1 2 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.
  7. ↑ "Five Minutes With... Brad Smith". Motorcycling Australia. 29 January 2010. Archived from the original on 22 January 2011. Retrieved 29 November 2010.
  8. ↑ Kaye, Tony (29 October 2010). "Action man revs up operations: motorcycle enthusiast". The Australian. Archived from the original on 22 January 2011. Retrieved 29 November 2010.
  9. 1 2 3 4 Dawtrey, Zara (21 January 2010). "New space for trail bike riders". The Examiner Newspaper. Archived from the original on 22 January 2011. Retrieved 28 November 2010.
  10. ↑ Smith, Brad (20 November 2010). "The Holy Land". Bradley Smith Blog. Archived from the original on 22 January 2011. Retrieved 2 December 2010.
  11. 1 2 Smith, Brad (19 March 2010). Bike Mad Brad. Interview with Breen, Fiona. Stateline. ABC News. Retrieved 28 November 2010. Archived 22 January 2011 at WebCite
  12. ↑ "Braap boss Brad Smith 'retains' entrepreneur title". BikeSales.com.au. Archived from the original on 22 January 2011. Retrieved 15 July 2011.
  13. ↑ "braaap founder awarded Young Champion Entrepreneur Award 2 years running". FullNoise.com.au. 29 January 2010. Archived from the original on 22 January 2011. Retrieved 28 November 2010.
  14. 1 2 Smith, Brad (4 August 2010). Media Centre: Interviews braaap. Interview with DC Strategy. DC Strategy. Retrieved 28 November 2010. Archived 22 January 2011 at WebCite
  15. ↑ "Locations". braaap website. Archived from the original on 22 January 2011. Retrieved 30 November 2010.
  16. ↑ "Expertise: Case Studies braaap". DC Strategy. Archived from the original on 22 January 2011. Retrieved 29 November 2010.
  17. ↑ "Braaap Adrenaline Plan TVC". Retrieved 14 February 2013.
  18. ↑ "Braaap Club". Archived from the original on 22 January 2011. Retrieved 29 November 2010.
  19. ↑ "Smith becomes highest ranked Australian in World Mini SX Championships". Archived from the original on 22 January 2011. Retrieved 29 November 2010.
  20. ↑ "Speaker Brad Smith – Speakers Bureau ICMI". Retrieved 14 February 2013.
  21. ↑ Smith, Brad (June 2010). Small Business Case Study: Building your business takes passion. Interview with Switzer, Peter. Commonwealth Bank. Retrieved 20 February 2013.
  22. ↑ "How Visa keeps up with braaap". Retrieved 14 February 2013.

External links

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