We tow our rubber dinghy on cruising holidays, especially if we're using it frequently. It would be a pain to deflate and stow it away each day.
But towing the tender causes drag & will slow a sail boat down. The drag puts extra strain on the painter too, so I fitted 2 D rings on our dinghy, one on each tube, to spread the load. I found it also helped to lift the bow and reduce drag.
In certain conditions, we can also reduce the drag by towing the dinghy on a long rope. We set the length of the rope so that as the yacht goes down a wave, the dinghy is also is going down a wave. In other conditions, we find having the dinghy very close to the stern of our yacht with the bow out of the water works better.
An inflatable dinghy is prone to flipping over, especially in stronger winds. So we always remove the outboard, seat and oars before towing.
If we want to sail faster, we stow the inflated dinghy upside down on the foredeck lashing it down securely.