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How to Run a Rental Business through Shopify
Last modified: December 21, 2023
A rental business is a great business model for those who are using Shopify. Not only do you only need the initial stock/equipment and replace only as you need, but you can charge a rate that offers you a return that is above the value of the item over its lifetime. In addition, you can open your products/offerings to a wider audience as you’re lowering the entry point to getting the product.
For example, you can offer long term leases for cars, which is becoming more popular in some countries. Instead of customers spending $10,000 on a new car, they can spend somewhere around $300 a month on a car. After a couple of years, the customer can then change their car without having to spend a huge amount again.
Or you can set up a shorter rental business. This could be renting a fancy dress or a room for the day.
But can you do it on Shopify? Well, yes, it is more than possible on your Shopify store, but you will need to have certain apps and processes in place to make it possible on your website. So here are some of the apps that you can use.
Before we go into the specifics:
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Rentals and Reservations
The first app that you can use is the rentals and reservations apps. This allows you to run both a selling and rental business at the same time. Therefore, you can have prices that depend on the length of the rental. The app also has features that prevent you from having a double booking. The app can be customized without any code changes.
You’re also able to charge a deposit for your reservations, and you can set a minimum and maximum reservation duration.
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 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.
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.
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.
Conclusion: How to Run a Rental Business through 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.
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.
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.
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.