As the owner of a small or midsize business, you are for sure interested in increasing sales and growing your business. An often overlooked method of doing this is to become a certified government contractor and sell your products and services to the federal, state and municipal agencies.
Here are top 10 reasons to get on a GSA Schedule this year.
1. Huge market at your disposal
Overall government spending is extremely large. In FY 2021, the federal government spent more than $630 billion on products and services. In FY 2022 the spending exceeded $650 billion.
2. The government buys almost everything
If you think that small business has nothing to do with the government market, you are totally wrong. In fact, not only federal agencies are required to spend a serious portion of their budgets on procurement from small businesses, they also need almost any kind of products and services you can imagine. Whether you sell towels or medicals or offer accounting consulting services, there is a federal buyer who needs it. GSA performs market analysis and looks for vendors and providers of thousands of services and goods. You too can be a part of it.
3. Relatively low competition
Since penetrating the federal market is tough, the competition is lower here compared to the commercial market. Which means you can earn the same with less effort.
4. The GSA contract is long-term
Once you are awarded, the contract is signed for 5 years. With three more 5-year renewals for a total of 20 years of almost guaranteed sales.
5. Prices are fixed
As soon as the contract is signed, the prices are fixed. So you will sell for the initially secured price during the entire period of contract duration.
6. Economical price adjustment
Even though prices are fixed, there is still the EPA mechanism to adjust contractual GSA Schedule prices to help you remain profitable as the global economic conditions change.
7. Easier marketing
While the federal market also needs a lot of marketing efforts, overall marketing to federal buyers is easier. Yes, there are some specifics involved in the GSA marketing, and you still need to pay attention to many aspects just like you do on the commercial market. However, the overall lower competition and a number of standard acquisition mechanisms and sale platforms, like GSA Advantage reduce marketing costs.
8. Positive reputation
Being a government contractor is a huge boost to your business reputation. A GSA badge on your website tells your clients that the government trusts you. Using a GSA Schedule as a quality mark is an excellent idea to demonstrate your professionalism and diligence.
9. Put your hand on really big contracts
There will be very lucrative opportunities to secure solid federal contracts. Make sure to monitor federal procurement platforms and place competitive bids to win such business.
10. Additional exposure on the commercial market
Obtaining a GSA Schedule contract automatically lists your company as a government contractor on the GSA eLibrary and GSA eBuy. Not only does it pave the way for you to bring in federal sales, it also provides additional exposure on the commercial market.
Get GSA Schedule now. Contact Price Reporter for assistance.