Brad Smith (entrepreneur)

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Brad Smith
Brad Smith (entrepreneur).jpg
Brad Smith
Born Bradley Smith
(1987-07-01) 1 July 1987 (age 31)
Launceston, Tasmania, Australia
Residence Legana, Australia
Nationality Australian
Occupation Entrepreneur
Motocross Champion
Years active 2007 – present

Bradley “Brad” Smith (born 1 July 1987) is an Australian entrepreneur and former motocross rider, who founded the motocross brand “braaap”. In 2010 he was named Young Australian of the Year for Tasmania, Australian Young Entrepreneur of the year and International Young Entrepreneur of the year runner up.[1][2]

In 2008 Smith launched the first braaap store, a retail outlet intended to be “the motocross equivalent of a surf shop”. braaap expanded to a peak of four retail outlets across Tasmania and Victoria.[3]

Personal life[edit]

Smith was born in Launceston, Tasmania, Australia to middle-class parents.[4]

His parents purchased his first motorcycle when he was four years old.

Braaap[edit]

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.[5]

braaap motorcycles are now manufactured in China. The motorcycles are assembled locally by mechanics in Braaap stores to ensure quality and reliability.[6]

The first braaap store opened in Launceston in 2005, with additional Tasmanian stores in Hobart and Devonport, and another in Frankston, Victoria.[7]

Closure of braaap retail outlets began with Devonport in June 2013,[8] Hobart in July 2017 and Launceston in January 2018.[9] The closures leave the Braaap Motorcycles flagship store in Frankston, Victoria as the only Australian retail outlet.

Adrenalin Plan[edit]

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.

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.[10]

Australian Superlite Champion[edit]

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]

References[edit]

  1. ^ "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.
  2. ^ 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.
  3. ^ 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.
  4. ^ 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.
  5. ^ Smith, Brad (19 March 2010). "Bike Mad Brad". Stateline (Interview). Interviewed by Breen, Fiona. ABC News. Archived from the original on 22 January 2011. Retrieved 28 November 2010.
  6. ^ "About Brad Smith". braaap website. Archived from the original on 22 January 2011. Retrieved 27 November 2010.
  7. ^ "Locations". braaap website. Archived from the original on 22 January 2011. Retrieved 30 November 2010.
  8. ^ FORD, SEAN (2013-06-13). "Brake on Braap store". The Advocate. Retrieved 2018-01-22.
  9. ^ Willard, Jessica (2018-01-08). "Launceston's Braaap Motorcycles has closed after 12 years of business". The Examiner. Retrieved 2018-01-22.
  10. ^ "Braaap Adrenaline Plan TVC". Retrieved 14 February 2013.[dead link]
  11. ^ "Smith becomes highest ranked Australian in World Mini SX Championships". Archived from the original on 22 January 2011. Retrieved 29 November 2010.