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How to Run a Rental Business through Shopify
Last modified: September 24, 2024
If you’re in the rental business—whether it’s renting out party supplies, camera gear, fashion, or even sports equipment—Shopify can be your go-to platform to manage it all online. Shopify offers the flexibility to handle bookings, manage your rental inventory, process payments, and send out those all-important return reminders. This guide will show you how to set up and run your rental business on Shopify, making it easy for you to stay organized and keep your customers happy.
How to Run a Rental Business through Shopify: A Simple Guide
Running a rental business online can be a great way to make money, and Shopify makes it easier than ever. Whether you’re renting out party supplies, tech gear, clothing, or anything else, Shopify has everything you need to manage your business. This guide will walk you through how to set up and run a rental business on Shopify, from getting your store online to handling bookings and payments.
Step 1: Set Up Your Shopify Store
First things first, you need to set up your Shopify store. If you don’t have an account yet, sign up for Shopify and choose a plan that suits your needs. The Basic plan should work for most rental businesses, but if you have lots of products or need extra features, you might want to go for a higher plan.
- Pick a Theme: Choose a Shopify theme that showcases your rental items well. Look for something clean and easy to navigate, like Debut or Brooklyn.
- Customize Your Store: Add your logo, choose colors, and create important pages like Home, About Us, Contact, and Rental Policies. Make sure to include a page explaining how your rental process works.
- Add Your Rental Products: When adding products, set them up as rentals. Include clear descriptions, good photos, and details like rental period, pricing, and any security deposit required.
Step 2: Choose a Rental App
To make managing rentals easier, you’ll need a special app that lets you handle bookings, rental periods, and inventory. Here are a few good options:
- BookThatApp: This app helps you manage bookings, rental periods, and inventory all in one place.
- Sesami: Another user-friendly app that lets customers book rentals and shows you what’s available.
- Rental Booking App by Ruckify: Specifically made for rental businesses, this app helps you manage everything from bookings to payments.
Once you’ve picked an app, install it from the Shopify App Store and follow the setup steps.
Step 3: Manage Your Rental Inventory
Keeping track of what’s available and when it needs to be returned is super important. Here’s how to do it:
- Track Availability: Your rental app will help you see what’s available and automatically update inventory when something is booked.
- Set Rental Durations: Decide how long people can rent your items—whether it’s by the hour, day, week, or month. Set these options in your app.
- Monitor Returns: Keep an eye on when items are due back, and make sure they’re checked and cleaned before renting them out again. Your app can help with return reminders.
Step 4: Handle Payments and Deposits
You’ll need to set up payments and possibly security deposits for your rentals. Here’s how:
- Set Rental Prices: Clearly list your rental prices for each item, including any options for different rental periods.
- Require Security Deposits: If needed, set up a security deposit as a separate charge, or use your app’s built-in features.
- Process Payments: Use Shopify Payments or another payment gateway to handle transactions. Be clear about how refunds, cancellations, and deposit returns will work.
Step 5: Set Up Return Reminders and Late Fees
To make sure items are returned on time, set up reminders and, if necessary, late fees:
- Automated Reminders: Use your rental app to send automatic reminders when a rental period is ending. This helps avoid late returns.
- Late Fees: If items are returned late, your app can automatically charge a late fee. Make sure customers know about these fees ahead of time.
Step 6: Offer Great Customer Service
Good customer service is key to a successful rental business. Here’s how to keep your customers happy:
- Clear Communication: Make sure your rental policies, pricing, and how things work are easy to understand on your website.
- Easy Support: Offer multiple ways for customers to reach you—via phone, email, or live chat. Be quick to respond and helpful in resolving any issues.
- Ask for Feedback: After a rental, ask customers how their experience was. Use their feedback to improve your service.
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Shopbnb
With Shopbnb, you have the flexibility to run your own rentals as you see fit. The platform allows you to manage your listings and sell directly to your guests on your own terms. You can create detailed listings, including relevant information such as the number of bedrooms and bathrooms, and supplement them with enticing photos.
Their seamless iCal integration ensures you never have to worry about double-bookings, as the system always displays up-to-date availability. All your bookings can be received and managed directly through the Shopbnb platform, streamlining your rental operations.
Shopify Rental Themes
It’s worth mentioning that there are Shopify rental templates that you can use as well. Using Shopify as a rental platform can be done in two general ways:
- Using a Shopify rental template (Shopify rental theme)
- Using Shopify rental apps
BookThatApp
BookThatApp is another classic app that can be used on Shopify. You can sell appointments, classes, rentals, tours and more on the app. Bookings can be made easily on any device, with customizable booking rules for your business that can prevent rentals when you don’t want them.
When customers are on your website, there can be live updates that can help your customers see any changes that are taking place. The app also integrates with Google and Apple calendars.
IzyRent
The next option is IzyRent. This is a highly affordable and easy-to-use app. You can create customized rental rules that can be used on your website 24/7. Customers can also see real-time updates of the current openings on your website.
Rental Professional
Another option is to use Rental Professional. This is a little different as it allows you to build a rental system that doesn’t just have to be about days but can also be for hours. You can create numerous rental models on your website and create a truly innovative rental business.
This makes it one of the best options for smaller businesses.
Statistics about Rental Businesses
The rental business is booming in 2024, whether you’re talking about short-term vacation rentals or leasing out office spaces. Platforms like Airbnb and Booking.com are thriving, with Booking.com alone pulling in $121.3 billion in bookings last year! People are still very much into renting properties in unique spots—coastal and rural areas are seeing a 25% increase in demand (Minut Safe).
On the non-residential side, the U.S. rental market brings in $216 billion every year. Employees in this sector earn decent money too, averaging around $68,175 annually (iPropertyManagement.com).
For residential rentals, about 34.5% of Americans are renters, and the cost of renting depends heavily on location. For example, West Virginia has some of the lowest rents at $723 per month, while places like Washington, D.C., have sky-high rents over $1,700 (The Zebra)(iPropertyManagement.com). And despite all this, millions of households still struggle with rent, with over 42 million people spending more than 30% of their income on housing (The Zebra).
In short, whether you’re looking at renting out your place for the weekend or leasing out a commercial space, the rental business is packed with opportunities!
E-Commerce Solutions and Strategies for Your Rental Business
Running a successful rental business on Shopify requires adopting the right e-commerce solutions and strategies. By exploring various platforms for e-commerce solutions, you can streamline your online operations and enhance the customer experience.
Consider partnering with websites for wholesalers or joining the ranks of Top Shopify Stores to expand your reach and attract new clientele. For businesses looking to diversify, offering rentals alongside a traditional sell books as a self-publisher or take-out businesses model can be a lucrative strategy.
Shopify’s flexibility allows you to seamlessly Add a vendor in Shopify, enabling you to manage multiple revenue streams from a single store setup.
Continuously evaluating and implementing innovative e-commerce solutions and strategies can help you stay ahead of the competition, attract new customers, and maximize the potential of your rental business on Shopify.
Above are the best apps that can help you run a rental business on Shopify. They are all easy to use, and you can create a steady revenue stream on your store that can help you maintain a strong profit margin.
Conclusion: How to Run a Rental Business through Shopify
Running a rental business on Shopify is not just possible—it’s pretty simple when you’ve got the right setup. Shopify, along with a good rental app, helps you manage bookings, payments, and inventory without the usual headaches. With a bit of clear communication and solid customer service, you’ll have happy customers who keep coming back. Whether you’re renting out gear, clothes, or something else, Shopify gives you everything you need to stay on top of things and keep your business running smoothly. It’s all about making your life easier so you can focus on growing your business and doing what you love.
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How do Shopify rental apps handle different time zones for international customers?
Many Shopify rental apps handle different time zones for international customers by adjusting to the customer’s local time zone, ensuring accurate booking times for international rentals.
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Can I offer discounts for long-term rentals through Shopify apps?
Many Shopify rental apps allow you to set custom pricing, including discounts for long-term rentals. Ensure that the rental app you choose provides the flexibility to implement the discount strategy.
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Is it possible to integrate Shopify rental apps with external inventory management systems?
Many Shopify rental apps offer integration capabilities with external inventory systems. Before choosing a rental app, ensure it offers integration options that align with your external inventory management.
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Can Shopify be used to run a rental business?
Yes, Shopify can be customized to run a rental business by using specific apps and features that allow for rental booking, inventory management, and payment processing.
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What apps are recommended for managing rentals on Shopify?
Apps like BookThatApp, Rental Booking App by Ruckify, and Sesami are popular choices for managing rental bookings, scheduling, and customer reservations on Shopify.
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How do I handle inventory for a rental business on Shopify?
You can manage rental inventory by tracking the availability of items through Shopify’s inventory management tools, or by using specialized rental apps that automatically update inventory based on bookings.
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How can I set up rental durations and pricing on Shopify?
Rental durations and pricing can be set up through product options in Shopify or by using rental-specific apps that allow you to define different rental periods (daily, weekly, monthly) and corresponding pricing.
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Is it possible to require a security deposit for rentals on Shopify?
Yes, you can set up security deposits for rental items by creating a separate product for the deposit or using an app that allows you to hold and release deposits automatically.
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How do I handle payments for rental items on Shopify?
Payments for rental items can be processed through Shopify Payments or other integrated payment gateways. Rental-specific apps often allow for flexible payment options, including partial payments and deposits.
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Can I offer both rental and purchase options for the same item on Shopify?
Yes, you can offer both rental and purchase options by setting up variants or using apps that allow customers to choose between renting and buying the same product.
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How do I manage late returns or damage to rental items?
Late returns and damages can be managed by setting up additional fees or penalties in your rental policies. Some apps allow you to charge these fees automatically when items are returned late or damaged.
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How can I track the status and location of rented items?
You can track the status and location of rented items through Shopify’s order management system or by using a rental-specific app that provides more detailed tracking and inventory control features.
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Is it possible to automate reminders for returns on Shopify?
Yes, automated email or SMS reminders for returns can be set up using Shopify’s built-in notifications or by integrating with apps that offer reminder and follow-up features.
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How do I handle customer reservations and scheduling on Shopify?
Customer reservations and scheduling can be managed through booking apps that integrate with Shopify, allowing customers to select their desired rental period and check availability in real-time.
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What are the best practices for running a rental business on Shopify?
Best practices include using specialized rental apps for inventory and booking management, clearly communicating rental policies to customers, ensuring secure payment processing, and setting up automated reminders for returns and follow-ups.