Examining Your Refund Policy

So you’re looking to start a business, and it’ time to setup a refund policy! Well, will you follow the big retailers like Sears and ALDI? Or perhaps Nordstrom and Target? If selling online you may take a look at eBay return policy. Either way you know that it is an important factor with your business. You know that you have to clearly state your policies so that your customers feel secure with their purchases.

The best advice I can give anyone looking to start a brick and mortar business or even an e-commerce business is to analyze the policies of other successful vendors. See what their policies look like and mold yours in a similar fashion. Of course if there are certain aspects that do not apply to you, you’ll not include it but having a general idea will always help.

When your policy is fully developed you’ll also want to get it checked over by a legal professional. There are online para-legals and lawyers who for a small fee can make sure your privacy policy is “iron tight”. This will ensure there is no room for “misunderstandings” or “misinterpretations” of what your policy actually says.

Take the time now to go over what you’re certain you are willing to “refund” and allow “returns” for. Keeping yourself informed about issues such as re-stocking, paying for shipping returns are also very important. With retail shopping at a high right now it’s important that you have all your bases covered.

Take a look below for some more advice on building your return policy.

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