StoreMatch wants to be the Tinder for landlords and tenants in the retail space. The company offers a business-to-business platform hosted in the cloud, that helps pair vacant retail spaces with suitable tenants.
However StoreMatch works like Tinder, and so deals only happen if the tenant and landlord both match. Once that happens, their information is shared and the landlord and retailer are put in touch so they can start working out a deal to rent the space.
StoreMatch says it saves users a lot of time and hassle in the search and leasing process. Once they sign up, users can begin searching for matches sent to their inbox immediately.
The benefit for landlords is that StoreMatch eliminates the need to advertise on the open market, while also allowing multiple bidders. Meanwhile retailers can choose from a range of desirable spaces, the company said.
For landlords, StoreMatch reduces or eliminates the need to advertise in the open market. It also allows for multiple bidders on retail sites. For retailers, the most desirable site can be be searched and pursued.
The platform is free for retailers to register -- they’ll receive opps via email. Landlord fees are determined in accordance with their requirements. Landlords sign a participation agreement, which outlines in detail the terms and conditions between the landlord and their information.
“It just makes things easier,” StoreMatch founder and director Jon Sully told Inside Retail. “And most importantly, quicker. If you get a match on the site, you instantly are notified and given the contact information of the other party, so you can go straight into negotiating the deal.”
With the future of brick-and-mortar stores at a crossroads, StoreMatch is providing many retailers a new lease on life. It speeds up the renting process, and gets the retailer in the space much quicker than the traditional route.