i think i am missing some step.
buying the required support license
if it is not registered and paid for
you do not install anything
if you are not going to buy the required license -- do not use rhel
instead install one of the FREE rebuilds like
but if i am misunderstanding you and you want to set up a "local-repo" on a registered install
then see the red hat knowledge base ( you WILL need the user name and password you set up with your RHN account you paid for)
search for "local repository"
and have a look through the red hat docs