Research and analyze the value that a GSA contract can bring in for your company. GSA provides access to exclusive opportunities available only for GSA contract holders.
This can open new business avenues for small and medium businesses. GSA contract is also a big boost for your company profile, GSA evaluation is stringent and requires contractors to exhibit high standards.
Determine If your company is suitable for GSA contract. The free PreScreen Tool below will answer this question for you.
2 Years in business
For all GSA Schedule Categories, you are required to have 2 years of operations for your business. This must be supported by 2 years of Financial Records(tax returns and balance sheets).
Some companies may have one year of financial documents and more than 1 year in operations, because financial documents are available at the end of the financial year.
All that is needed are the Financial documents, even if the revenues are small.
Your products or services must "match the scope" or fit into the description of at least one Special Item Number (SIN), or subcategory. The majority of small and medium Businesses will fit into at least one SIN, here is the list of primary categories:
Furniture & Furnishings
Industrial Products and Services
Scientific Management and Solutions
Security and Protection
Transportation and Logistics Services
Sometimes it is not 100% clear If your company fits, so please schedule a free consultation if you have questions. We can help you.
All sellers with a GSA Schedule are required to sell a minimum of $25,000 annually through the Schedule in order to maintain their contract or to be eligible for upcoming Option Periods. New GSA contractors are given the first 24 months to generate $25,000 in GSA Sales, but once the first two years has passed, the requirement becomes an annual minimum of $25,000.
A red flag is raised if you have experienced a loss in the past 2 years, or your Current Ratio or Debt-to-Equity Ratio is unfavorable. If your financials are not in perfect shape, then it really helps to lean on an experienced GSA Specialist to navigate the process.
Past Performance. Your Company must provide documents of previous experience in the product or service that you are proposing to GSA. GSA wants to bring in experienced contractors and expects that you have already done business with other customers. In order to showcase your past performance you provide sample copies of your invoices, contractor, work orders etc.,
Labor Category Descriptions. Services must be accompanied by the labor category definitions. A service is performed by manpower, every person involved in providing services must fit into a specific labor category. A labor category document with job titles, roles & responsibilities, education requirements, minimum experience, proposed hourly rates must be developed. The proposed hourly rates must be supported by invoices or purchase orders.
Invoice Support. Product-based GSA Offers must include a sampling of invoices. This shows the GSA that you have established sales and fulfillment history for the offerings.
Product literature. Provide a copy of your product literature, technical specifications, photographs and other details used in your product sales.
Product Warranty. Provide a detailed warranty description, after sales support terms, replacement and repair terms, warranty duration.
Letter of Supply (LOS). If you supply (resell or distribute) products manufactured by other companies then you need to provide reseller agreement, partnership agreement or letter of supply from the manufacturer indicating that they can supply the products to you.
Products you supply must be compliant to Trade agreement act (TAA). Product origin from countries not listed in TAA are not eligible to offer on GSA contract.
Navigating the TAA can get confusing when your product components are from a non-compliance country but the end product is assembled in a compliant country. Yo navigate this maze you need to rely on GSA WINS expert.
Get in touch with us today for your GSA schedule requirements.
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