Sharefront: Recreating and Revolutionizing The Future Of Retail Businesses

10 Most Trustworthy Companies of the Year 2022

The growth of the retail industry has been gradual since the induction. However, with the introduction of e-commerce, the retail sector has experienced remarkable growth in the last decade.

“Unlike other industries where more revolutionary ideas are necessary to induce change, the slight changes and minor increases in efficiency change retail shopping. Flex is an example of one of these companies,” explained Yaron Cohen, the Founder of Sharefront. Mr. Cohen is a serial entrepreneur and has experience in multiple sectors like real estate, retail, and psychology. Just by making a simple adjustment of monthly payments and changing it to a bi-weekly or custom pay schedule a company can explode. Companies like Flex reaffirms the notion that one does not need to recreate the wheel, but correct minor inefficiencies to fit today’s day and age.

After working for years in the real estate industry, and leasing commercial properties, Mr. Cohen had built a reputation among several business owners. While they were focused on the various aspects of business, Cohen was able to look at them as a whole, spotting the difference between those that were successful and those that weren’t. Prepandemic most people foresaw a decline in traditional retail as e-commerce companies such as Amazon occupied greater and greater market share. Many were concerned for the future of retail, and when the pandemic hit, it expedited the process. Cohen had to witness some of the customers close their stores while some thrived. After discussions with the owners, he realized that most failing businesses had many similar struggles like high entry costs, long-term commitment, location management, hiring, etc.

He adds, “At that point, I realized it only seemed logical that the co-working, co-living, co-industrial models that are so prevalent today can also be expanded to include brick and mortar retailers. We took that idea and made it a reality, allowing brands to start connecting and sharing space with like-minded companies that share the same community and customers, through Sharefront.” Sharefront has introduced the target audience marketing approach to brick and mortar.

Overcoming the challenges

Initially, the company did encounter several challenges. Sharefront’s first and foremost challenge was to pitch the idea to the businesses and then connect the right brands with each other. Also, there was a challenge to inspire investors and raise capital. “What I realized is, it is not about the challenge itself, but rather how you approach it. We abide by a simple rule that has become somewhat of a raison d’etre: If it isn’t a win-win, it’s not for us,” added Cohen. Today, the only challenge Sharefront faces are how to deliver the best product at an affordable price. The team is overcoming this challenge, and others by creating partnerships and long-term opportunity growth with everyone that it works with.

Sharefront has developed a matching system for businesses that make sure all businesses within a shared space are compatible and non-competing. It focuses on the companies’ target audience alongside the core values to design the best possible stores. Sharefront has partnered with architects and interior designers to make sure the space is more than simply a place to make purchases, but rather a social hub. Its state-of-the-art technology enables the company to gain insight into which sections of the space are best performing to allow both the retailer and consumer to achieve the best possible result.

Distinguished Player in the Industry

Cohen believes that Sharefront is a distinguished player in the industry and is always perfecting its offerings to stay ahead of the competitors. He asserts, “I truly believe our company is one of a kind. Yes, there are department stores and direct-to-consumer (DTC) showrooms. But no one initiates and curates locations as we do.” Sharefront is a matchmaking website for businesses and additionally a full retail management company as well. The team is committed to bringing non-native brands and new customers to already established markets. He adds, “Our goal is that when you walk in as a customer, you are not solely interested in what you came for, but everything else in the space as well.”

Currently, Sharefront is working on major partnerships with some e-commerce companies and landlords to allow the company expands nationwide. The company is currently working with a handful of large retailers that will be using multiple locations to test the concept and work on building long-term partnerships. Cohen concludes, “We hope within the next 24-36 months to be in a lot of everyone’s favorite cities.”

What has been the key contributor to making Sharefront one of the innovative companies of 2022?

I haven’t tried everything to know what without a doubt works best, but we have been focusing on trying to do a little bit of everything. Going to different conferences and shows, reading various articles and books, and trying alternate tactics and approaches are all steps that may not make such a big difference in the beginning but are integral to the backbone of any company. The key contributor I would say is our unflattering commitment to the notion of win-win relationships. This singular idea has allowed us to work and grow in ways we never could have imagined.

Quote:

“We are focused on aiding D2C brands grow their business by providing and managing a co-retail space in a prime location. Allowing your brand to grow organically with less risk, less commitment, and fewer distractions.”