Introduction

In some subscription models, businesses offer customers the option to purchase the product they’ve been renting, either during or at the end of the subscription period. Buyouts are a common feature of a subscription management solution like circuly. circuly simplifies the buyout process, making it easy for both businesses and customers. Through circuly Hub and the Customer Self-Service Portal, you can manage and execute buyouts seamlessly.

Feature Overview

• Automatic Renewal: In circuly, you can define in your settings whether you want subscriptions to automatically renew. Once you set this, all subscriptions will follow the same rule. You can choose to renew subscriptions for their original duration or a custom duration, giving you the flexibility to adjust the renewal period according to your business needs.
  
• Manual Renewal: Each subscription also offers the possibility of manual renewal on an individual level. If you prefer not to renew subscriptions automatically, and instead want to wait for customer indication or approval, you can manage renewals manually. This approach is useful if you want to offer customers the option to extend their subscription based on their preferences.

Additionally, you can decide on the extension price once a subscription is renewed. This allows you to set a different price for the extended period, which can be useful if your business model includes offering a discount, increasing the price, or adjusting the rate for long-term subscribers.

For a step-by-step guide, follow our Knowledge Loop article: Auto renew subscription in circuly. 

Conclusion

circuly gives you full control over subscription renewals, whether you choose automatic or manual options. With the ability to define renewal durations and set custom extension prices, you can tailor the renewal process to suit your business model and customer needs, ensuring a smooth and efficient subscription management experience.