How to create a product to be available as a subscription
Your products in Rentle can be available for sale, for one-time rent, or for long-term rent under a subscription contract with periodically recurring billing. When selling access to subscription products, you define the (minimum) length of the contract period and price, your customers will pay the first fee upon check-out and Rentle charges the customer's payment card according to the billing cycle until the end of the contract.
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Requirements and limitations
The current version of Rentle's subscription features comes with the following requirements and limitations:
Recurring payments for subscription products are available only via credit and debit card payments. Enable online payments.
The billing cycles are currently pre-set to be monthly.
Pre-authorized security deposits have a time restriction and can't be held longer than 7 days (Stripe) or 30 days (Rentle Payments).
How to create subscription products
- From your catalog select new product.
- Enter at least the product name and scroll down to define the monthly subscription price
- You can already enter a product description, select the correct category, and tax rate, and add product images now. You can however add and edit those at a later point as well.
- Click create product
2. Defining subscription period and price
For each subscription product, you can freely define the applicable terms and pricing.
In the terms section, define the full length of the subscription duration as the commitment period and determine how often your customers will be charged as the respective payment cycles. For now, payment cycles are pre-defined to be every 1 month – in the future, you can define your payment cycles depending on your business requirements.
Select under Auto renewal whether the subscription will end automatically after the chosen commitment period (select None), of it the subscription will afterwards be renewed automatically every month (select Monthly).
Once you have set up the terms, set your prices for each commitment period in the price section below. Fill in the "Price (currency)" column with the price you charge for your product for each payment cycle in the respective commitment period. In the column "Committed total (currency)" the total revenue per commitment period is calculated.
Here is an example: A subscription for 2 months will be charged 50.00 € each month, thus resulting in a total revenue of 100.00 € for one sold subscription. If a customer however purchases a subscription for one entire year, the monthly fee will just be 30.00 €, resulting in a total of 360.00 € for the entire year.
3. Make it available to your customers
By default, your newly created product has unlimited availability. To limit its availability, it must be connected to an SKU in your inventory.
- Navigate to the Availability tab and click Connect to inventory.
- Click Choose SKU and select from the dropdown menu either an existing SKU (when you already created your inventory) or +Create new SKU and insert how many articles you have available.
A detailed guide on connecting products to inventory can be found in another article.
- Lastly, navigate back to your product's General settings and set your product to be publicly visible in your sales channels, and click save.
That's it, your product is now available for subscriptions to your customers!
4. More product settings
Once you have created a basic rental product its time to finetune its settings.