Business owners became inclined to acquire GSA Schedules for the plethora of benefits it offers. A GSA certification can open more doors for opportunities streamlining the growth of enterprises. Once executed accordingly, businesses project bolstering sales and revenue. Not only have that, this can guarantee a steady stream of income from various sectors of the federal government.
Small, medium-sized, or large corporations can reap all of the benefits that await with acquiring GSA Schedules. If you are a business owner looking for another way to achieve growth, the tedious application process would be worth your time. With such a strict process, the government contracting market offers valuable rewards. There is still going to be competition along the way. However, once you’re in, the opportunities are waving right in front of your eyes.
That said, we gathered four significant benefits of the GSA schedule for businesses. These benefits allow you to understand the opportunities that await when you accomplish a GSA contract for your business.
Benefits of GSA Schedule
Acquiring a GSA Schedule might be precisely what your business needs to achieve growth and prosperity. Whether you are aiming to increase your sales or your brand awareness, here are the benefits you can reap:
Competitive Advantage
Obtaining a GSA Schedule is a clear indication that you get to take advantage of the GSA services. Business owners can gain access to GSA-exclusive sites and pages. For instance, GSA contract holders are the only ones who can get into the GSA eBuy. It is the acquisition platform exclusively for businesses with GSA Schedules and agency buyers. GSA eBuy is the one-stop tool to help companies find opportunities and assist federal buyers in making requests and inquiries.
Moreover, GSA contract holders gain a competitive advantage with extensive exposure to several buyers’ products and services. GSA Advantage is another tool that agency buyers utilize to offer gigs and access contract holders’ services. Contractors can showcase their products, services, and latest offerings on this platform. Simply put, this serves as a marketplace for all agency buyers out there.
Furthermore, GSA Schedules are one of your greatest assets, especially if you are just emerging from the market. As a business owner, you continuously look for ways to set your business apart from competitors. Getting into GSA is a great start, for it provides you with more opportunities to expose your brand to more people and explore its exclusive tools.
Monetary Benefits
Given that getting a GSA contract is as tricky as threading the needle, the benefits are worth the shot. Every GSA Schedule gets signed for five years. When the contract expires, you can also make at least three consecutive renewals for another five years. Being tied with GSA for a total of 20 years provides streamlined revenue that can contribute to your growth. On top of that, the process of renewal requires minimal administrative workload. Thus, you can continue enjoying GSA services even after finishing your initial contract to benefit from its monetary benefits.
Ease of Use
GSA application might be a tedious process, but you can quickly see your business growth within days of signing the papers. The long and complicated process involves providing a valid product price list, submitting complete requirements, and verifying track records. When your business is approved, sales require almost little checking and negotiations. Contracting is almost always simplified as well. In other words, the entire selling process is streamlined, helping business owners handle transactions with ease. If compared with the public markets, the time-to-market rates with GSA commercial markets are much quicker.
Save Time
Upon approval, GSA Schedule holders can establish their products and services, pricing, and offerings before selling. Orders made with GSA contractors would only take an average of 15 days. In contrast, a majority of open markets can fulfill your orders over the next 268 days. As part of GSA’s initiative to streamline the selling process, businesses can negotiate with federal agencies right then and there. This benefit helps the buyers keep their inventories updated and structurally sound.
Federal agencies can select the enterprises from which they want to acquire supplies. Choosing your enterprises opens a sea of opportunities for up and coming businesses and the like. Developing a GSA Schedule can help them break into a saturated market and increase their profitability.
Who Buys from GSA?
Having a GSA contract proves your business went through the vetting process to be of good quality and fair price. A seal of GSA approval increases your chances of increasing revenue and visibility to a whole new market. You are now eligible to offer your products and services to federal government sectors and the like. Here are the agencies you can cater to:
Federal Agencies
Federal agencies are establishments not under the executive branch but instead, in the legislative branch. However, it is essential to note that this does not include the Senate, the House of Representatives, and the Capitol Architect. If those agencies buy from GSA, they need to send a request before the transaction.
Mixed Ownership Government Corporations
Mixed-ownership enterprises exclude 31 U.S.C. However, § 9101(2) is qualified for GSA goods and services.
District of Columbia
The government of the District of Columbia is allowed to purchase products and services from GSA. These products and services also include motor vehicles and anything related to them.
1. Eligible non-profit organizations for individuals with a disability for use in making or providing an approved commodity or service to the government
2. State and local governments, including hospitals and educational institutions
3. Contractors authorized under FAR 51
State and Local Governments
The state and local governments cover establishments such as hospitals, tribal governments, and educational institutions. They can all buy products and services from GSA contractors. Additionally, these sectors can take advantage of the following programs when making a purchase. As per 40 U.S.C. § 502, here are the programs they can utilize.
1. Cooperative Purchasing Program
2. Disaster Purchasing Program
3. Public Health Emergencies
4. 1122 Program
Having GSA Schedule Helps Your Business Prosper
Having a GSA Schedule can help enterprises, regardless of their size, to prosper. A 2018 report
has revealed that small businesses can earn over $120 billion from government contracts alone.
Although you need to go through a complex and lengthy process to get in, becoming a government contractor can help you thrive. Overcoming the tedious process lets you increase your brand’s visibility, profitability, and reputation. Government agencies can frequently place bids directly to your business. After all, only those admitted to the GSA program are deemed worthy of selling to these federal agencies.
