1851

In the world of franchising, the relationships between franchisors and suppliers are vitally important. However, finding the right match can be very difficult because it is hard to find honest feedback in regards to what individual suppliers offer. This is why&nbsp;<a href="https://www.linkedin.com/in/powills/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=1851s-nick-powills-why-we-created-the-supplier-database-2726132" target="_blank" rel="nofollow">Nick Powills</a>, publisher of 1851 Franchise, decided to build the&nbsp;<a href="https://1851franchise.com/supplier">Supplier Database</a>.“In franchising, unfortunately, it is very much pay to play,” Powills said. “The suppliers that pay the most money are the ones that get shown … You might get shown more at a conference or event because of who you know and not necessarily because of what you can do. How can we build a transparent database that is built by public-facing reviews?”The Supplier Database provides benefits to both franchisors and suppliers. Franchisors are able to search and filter for their needs to efficiently and transparently find the best suppliers available, while suppliers have access to an unbiased source that provides truthful insights to the value of their products or services.&nbsp;“Could we give the industry a profile so that they can have some sort of landing page so it can be found through search engines?” Powills said. “When someone's doing their due diligence on a supplier or trying to get educated on what to do, the Supplier Database provides some sort of noise away from your website.”The database is fueled by interactions and reviews, acting as a platform where feedback fosters improvement. The more engagement and reviews left through the database, the more accurate it becomes. This transparency is incredibly helpful in matching franchisors with the suppliers that fit their needs. Franchisors and suppliers can lean on the Supplier Database to ensure a strong foundation to a very important business relationship.Watch the full video above or&nbsp;<a href="https://www.youtube.com/watch?v=cALoY5sYYAM&utm_source=1851franchise.com&utm_medium=article&utm_campaign=1851s-nick-powills-why-we-created-the-supplier-database-2726132" target="_blank" rel="nofollow">click here to watch it on YouTube</a>.&nbsp;A summarized transcript is included below:1851: What is the Supplier Database and why was it created?Powills:&nbsp;The Supplier Database is a new tool added to our infrastructure. It serves as a comprehensive resource for both franchisors and franchise suppliers. I asked myself, "How can we build a transparent database that is really built by public-facing reviews?" This database emerged from a need to address frustrations in the industry, particularly regarding pay-to-play dynamics and misleading or unclear supplier rankings.1851: What information can be found in the Supplier Database?Powills: Users can find a plethora of supplier information categorized by reviews, services offered and more. The database has a user-friendly interface. Whether searching for accounting firms or other services, users can easily navigate through the database to find relevant suppliers.1851: How does the Supplier Database benefit suppliers?Powills: The database offers suppliers visibility and a platform to showcase their services transparently. I wanted to find a way to give the industry a profile so that they can have some sort of landing page. By integrating supplier profiles and promoting supplier videos, the database becomes a valuable marketing tool for suppliers to tell their stories.1851: Any tips for utilizing the Supplier Database effectively?Powills: Start with a broad search and narrow down to three-to-five potential suppliers. Engage in discussions with these suppliers to gauge alignment with business needs and culture. Additionally, the database serves as a networking opportunity for suppliers to connect with potential clients.1851: Is there anything else important to know about the Supplier Database?Powills:&nbsp;Transparency and accessibility are core principles of the database. It is really important to&nbsp; leave reviews for suppliers to maintain transparency. Moreover, the database aims to integrate suppliers into the franchising community, ultimately providing support for both franchisors and suppliers alike.Interested in learning more about buying or growing a franchise? Check out these resources and stories:<ul><li><a href="https://www.1851growthclub.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=1851s-nick-powills-why-we-created-the-supplier-database-2726132" target="_blank" rel="nofollow">1851 Growth Club</a></li><li><a href="https://1851franchise.com/franchise-brokers-fees-and-what-to-expect-2725589#featured">Franchise Brokers: Fees and What To Expect</a></li><li><a href="https://1851franchise.com/valuing-a-franchise-brand-what-you-need-to-know-2725745#stories">Valuing a Franchise Brand: What You Need to Know</a></li></ul>

The Supplier Database: Why We Created It

1851 Franchise

The 1851 Franchise Supplier Database offers transparency in an industry that desperately needs it. Franchisors and suppliers alike stand to benefit from the robust system.

1851’s Nick Powills: Why We Created The Supplier Database

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1851’s Nick Powills: Why We Created The Supplier Database

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