What You Should Know About GSA Contracts

Is your business thinking about selling products and services to the government? Then you’ll want to enter into a General Services Administration (GSA) Schedules Program, also known as a GSA contract, which could open up your company to a variety of new business and networking opportunities.

But before entering into the GSA Schedule, which is an independent U.S. government agency that supports the basic functioning of federal agencies, what should you know about this opportunity and the unique responsibilities it brings about? This blog post will outline what you should know about GSA contracts.

Need-To-Know Facts

It’s A Long-Term Contract. 

Most contracts are set up for five years, to give your business time to figure out what works best and develop these relationships. In addition to being a lucrative time commitment, the long-term GSA contract lets you know that it’s something that could set up your business for a long time, something with long-lasting impact.

The Government Spends More Than $33 Billion In This Area Annually. 

And the government shows no sign of spending less, as they are spending more and more each year. This means that they are spending this much on products and services, and you will have direct access to these federal agencies seeking work (which could be from your business).

Think Your Product/Service Isn’t Needed? You’re Probably Wrong. 

The GSA needs almost every kind of business service you can think of, meaning that if you think your business wouldn’t qualify, it probably does.

Obtaining A GSA Contract Is A Bit Of A Process. 

All of the above steps make you say, “Sign me up!”, right? Well just make sure you take the GSA contract process seriously, as it requires many steps and the utmost accuracy when filling out the forms (just one typo or error can automatically reject you).

Requirements For Your Business

You’ve learned about what the contract involves, but what is required of your business? Here’s what you need to know.

Your Business Must Have Been In Business For At Least 2 Years. 

Most often, GSA contracts are given to businesses that have been in operation for several years.

Your Business Must Meet A Revenue Threshold.

In addition to being in operation for at least two years, your business must have a revenue of at least $100,000 per year in its most recent two years of operation.

Your Business Must Not Be In Debt. 

Your Business’s Products Or Services Must Be TAA Compliant. 

This also means that products or services must be produced in TAA compliant countries.

Your Business May Be Responsible For Other Requirements. 

It’s important that your business makes sure that they meet certain skill requirements as well that maybe appear in some schedules.

How Long Does It Take To Get A GSA Schedule?

The process of getting a GSA contract can take up to a year from starting the first steps, including registering your company, paperwork, and submission. Most often companies are rejected for GSA schedules because of improper formatting of their Letters of Supply, prices that aren’t competitive in the GSA market, insufficient paperwork, product/services that don’t match the extent of the schedule, and failure to complete the training courses.

How To Apply For A GSA Schedule

So now that you know all about what the GSA contract entails, how do you get started?

Register Your Business.

You’ll have to register your business at the following places: DUNS, SAM, and getting an NAICS code at this site. Then after you register at all of these places, you’ll do the Central Contractor Registration system. You must apply at all of these places in order to sell your products or services to governmental agencies.

Research To Make Sure Your Business Matches The Schedules. 

Using your NAICS code, you should be able to determine the size of your business and what kind of requirements it needs to meet.

Complete The Proper Training. 

You must pass courses in Pathways to Success and Readiness Assessment.

Prepare The Proper Paperwork. 

This will include filling out the appropriate price proposal template, putting together your financial statements for the past two years, legal documents like the End User License Agreement, Letter of Supply, and a technical proposal that requires information by a specific SIN (Special Item Numbers). For an exact list of paperwork you’ll need, you should refer to the Schedule and SIN.

Getting a GSA schedule for your business can put you on the path to a very mutually beneficial relationship for the federal agency and your company. We hope this gives you a good idea of how to get started in the process. Contact Command Watch today to learn more, or to get a free price estimate.