What is a Return/Refund Policy?
A return policy is a policy that determines how your business will handle any unsatisfied customers’ needs and clearly states the terms for which a refund will be given. Anyone that has purchased a good or service online has likely seen one of these policies before.
The terms of a refund policy are set by the business and must be agreed to by the customer. It can be as strict as not giving any refunds at all or as lenient as giving a 30-day refund period with no reasoning needed on the customer’s end. No matter what the terms are, the most important part is that they are clearly defined and that each customer sees them before they make a purchase.
Most savvy shoppers will want to know what your business’ refund policy is before they make a purchase and it may steer them away from working with you if it isn’t readily available and easy to understand.
How Does a Return & Refund Policy Affect Customer Retention?
A customer that feels like a business is untrustworthy will not purchase from that business. Part of ensuring that your business is not seen as untrustworthy is to have a clear, concise, and easily understood return policy.
You won’t want your customers to be returning your products, but it is inevitably going to happen and having a good policy in place will mitigate the negative opinion that dissatisfied customer is building about your business. So much so, that they may even choose to give you another chance which results in keeping a customer you would have lost and making a sale you wouldn’t have otherwise made.
Knowing that they can return a product if they don’t end up liking or needing it can encourage potential customers that aren’t sure about your business to take a chance on you that they otherwise wouldn’t have and not having a refund policy or having one that states that no refunds will be offered will almost certainly result in the opposite happening.
How to Tailor The Return and Refund Policy to Your Products or Services?
You want a return policy that perfectly matches the needs of your business and covers the products or services that you sell. This means that you should not just copy the return policy of another website or business and use it as your own because this could result in unforeseen negative consequences. For the same reason, you should avoid using a fill-in-the-blank style return policy template as it will result in a general return policy that isn’t tailored to your business in any way.
There are multiple options to write a return policy that is specific to your business. You could pay a contract law expert or attorney to create a refund policy for your business. This would ensure that the policy is fully legal and is specifically tailored to the needs of your business. Unfortunately, this route tends to be expensive and can, therefore, be a less desirable option for a startup business.
Another option available to you if you are trying to save money on your startup business is to use a return policy generator. By answering a few questions regarding your business and the products or services that you sell, followed by selecting the terms and conditions you would like to apply to your refund policy, the refund policy generator will create a refund policy specifically tailored to your business.
How Does a Return & Refund Policy Generator work?
A refund policy generator starts by asking you a series of questions about your business. These questions will include things like the name of the business, the URL of the business’ website, where the business is based out of, and other general information about your business.
You will then be asked to answer some questions regarding the terms of your refund policy so that the generator can ensure that the refund policy generated will match exactly how you want returns to be handled for your products. This includes questions about how long a customer has to request a refund, what circumstances make a customer eligible for a refund, or whether refunds are possible at all with your business.
Once all of the questions are answered the generator will create a refund policy specifically for your business that matches the terms and conditions that you outlined.
What Are the Benefits of a Return and Refund Policy Generator?
Using a shipping and return policy generator is a quick, easy, and painless process which means that the primary benefit of using one is that it will save you a lot of time and work that can be better used elsewhere. All you have to do is take a few minutes to answer a short questionnaire and then your refund policy is complete and available to download for further use.
Another benefit to using a refund policy generator is that it will save you the cost of hiring a lawyer to write one for you. Lawyers are prohibitively expensive which makes a refund policy generator’s minor cost a much more attractive option for a startup business.
Best Return Refund Policy Generator Reviews
Termsfeed is a tested and proven policy generator. They create high-quality policy documents for a very affordable one-time fee that depends on what the terms of your policy are. Many of the options in their generator are free, but some of the more specialized or important features cost small amounts of money to be included in the final document.
The process of using Termsfeed to generate a refund and/or return policy is extremely simple and very easy to understand. You can get started with Termsfeed completely for free on their website, no payment is necessary to see their process and test whether it is for you or not.
At first, you will be presented with a series of questions about your business and where it is located to determine what laws need to be adhered to. These questions cover the name and address of your business, the name and URL for your website, and the country that you are based out of.
Once you have input the information about your company you will then be asked about the terms and conditions of your refund. You will be asked to determine how long a customer has after purchasing to request a refund, under what circumstances a customer is eligible for a refund, whether discounted items are eligible for refunds, and if items can be exchanged. You will also be asked to input an address for products to be shipped to for refunds and to provide a method for customers to contact you.
Once you have answered all of the questions you will be asked for an email address to send the policy to and to provide a method of payment if you used options that incur a one-time fee. Once you have paid the minor fee you are presented with several options to download your newly generated refund policy including PDF, DOCX, and HTML formats. They also provide a free hosting service so you can link directly to the policy.
All-in-all, Termsfeed is a fantastic choice for your return policy needs, and they have the added benefit of offering other kinds of document aid as well. While no document generation service is going to be a replacement for a lawyer, Termsfeed can serve as an excellent foundation for your policy needs and is a fantastic option for smaller businesses.
Termly is a very detailed return policy generator that is completely free. Much like Termsfeed, you are presented with a series of questions regarding your desired terms and conditions for customer returns. While answering these questions you can choose to preview the final result at any time. This generator is capable of producing refund policies for any platform, not just online businesses, which makes it a very versatile tool.
The Termly refund policy generator covers a lot of details that are not addressed by Termsfeed’s policy generation option. The refund policy generator covers subjects such as the procedure for how products should be returned to your business, whether the customer or the business will pay the shipping costs, what requirements are necessary to prove a purchase was made from your business, and the timeframe available to request a refund after a purchase has been made.
The one downside to Termly’s refund policy generator is that it does not do a good job of tailoring the return policy specifically to your business, it instead strikes me as a very general approach to policy creation, so a little bit of added work will be required to get the perfect return policy.
The refund policy generator provided by WebsitePolicies comes in both a free version and a paid version. The basic, free version covers the most essential parts required for a return policy but lacks coverage of important details that are covered by the premium, paid version.
While creating a refund policy through the WebsitePolicies generator I was very pleased to see that you are not shown a list of questions, to begin with, but instead are asked different questions based on the answers you give. This tells me that the policy will be tailored specifically to the needs of my business and is a point in their favor.
Once you have completed the questioning process you are asked to provide an email for the refund policy to be sent to. It annoyed me that I couldn’t download the policy directly, but it is only a minor inconvenience.
The policy generation options include custom-tailoring for different parts of the world, not just the United States, which is another bonus in WebsitePolicies’ favor. They provide free hosting for your documents, though that option is not required and you can choose to host your policy documents yourself.
The Shopify return policy generator is extremely basic. The only customization available to you is adding your company name, address, website, and email address. Everything else comes directly from Shopify with no input from you. This makes Shopify a much less versatile option for your policy generation needs, though it does have the upside of being free.
There is no option to directly download your policy and instead, you are sent a link to it via email. This further lowered my confidence in Shopify’s capabilities. That said, Shopify does have a few good things to say about its services. It does not only provide return policy generation; it can also generate terms of service and privacy policies.
Unfortunately, the quality of the service provided for return policy generation is essentially the same as filling out a refund policy template and that is telling about the quality of its other services.
I feel that the services provided by Shopify are too low quality for it to be in consideration for the best return refund policy generator, but it is an option available to those that cannot afford or do not want to use one of the other free options for their own reasons.
The return policy generator from Volusion suffers from many of the same problems that Shopify’s generator did. It is the same style of generator and offers almost no customization options.
The only options for customization are the ability to add a company name and address. There is no support for companies based outside of the United States and the policy generated makes claims and requirements that you may not be happy with which makes additional work for you if you decide to go with this option.
I was pleased to see that the generated policy is at least given to you freely with no need for providing an email or any other nonsense. Unfortunately, there are only two options for getting the policy yourself which is to copy and paste it into a word processor of your choice or print it without editing it.
Overall, I was dissatisfied with Volusion’s generator and found that it did not compare favorably to many of the other options on this list.
3dcart continues the trend of non-customizable generators. Their generation option is another one that only allows you to customize the business name and provide an address for shipping purposes.
One thing going in 3dcart’s favor is that their generation option is very simple. Once you have input the few customizable elements it is a simple matter of clicking on the generate button and you are taken to another page of the site with your new refund policy in a text box. Unfortunately, they do not even provide a download option, you have to copy the text and paste it into a word processor if you want to save it at all.
PrivacyPolicies provides the exact same service as Termsfeed. The generator looks the same, provides the same options, and outputs your freshly generated return policy the same way. The only difference between the two generators is the color scheme. This means that PrivacyPolicies’ generator is every bit as excellent as Termsfeeds, but it also brings into question the reliability of both sites as it is very strange to see two sites that operate in the exact same way.
I cannot vouch for the reputation of PrivacyPolicies, but I can say that the refund policy they provided was excellent and just as high-quality as the one I got from Termsfeed which is the most important part about the service provided by any of these generators.