A turnkey business is
a for-profit operation that is ready to use as-is the moment it is purchased by a new owner or proprietor
. The term “turnkey” is based on the concept of only needing to turn the key to unlock the doors to begin operations, or to put the key in the ignition to drive the vehicle.
What is a turnkey operation example?
A turnkey business may refer to
a business that can be purchased without having to make any changes to the business
model or products sold. For example, a franchise like Taco Bell is a type of turnkey business.
What is a turnkey approach?
Turnkey (the adjective) means
fully-equipped, or ready-to-go
, as in the case of a product that is meant to be a full-package deal. This is a decent place to start, but it applies more to the concept of a turnkey product. A turnkey product tends to be off-the-shelf ready for use with minimal, if any, customization.
How do I start a turn key business?
- Understand Why Your Business is Valuable. Each of these company traits may be attractive to a potential buyer: …
- Formalize a Marketing Plan. …
- Create a Procedures Manual. …
- Work With a Business Broker. …
- Gather Other Documents. …
- Make a Compelling Case.
What is another word for turnkey?
In this page you can discover 13 synonyms, antonyms, idiomatic expressions, and related words for turnkey, like:
turn-key
, jailer, end-to-end, pre-integrated, prison-guard, warden, warder, gaoler, jailor, screw and multi-utility.
Why turnkey projects are attractive?
Why are turnkey projects attractive? The advantage of a turnkey operation is that it
allows firms to earn a return from the know
-how involved in assembling and running technologically complex processes. They make sense in countries where political or economic conditions make it risky to make longer term investments.
Does turnkey mean furnished?
What is a turnkey property? … In some circumstances, the term turnkey is used to describe a newly renovated property that doesn’t even need a fresh coat of paint, while other times, the word can refer
to a home that is fully furnished, too
.
What turnkey means?
(Entry 1 of 2) :
built, supplied, or installed complete and ready to operate a turnkey nuclear plant
a turnkey computer system also : of or relating to a turnkey building or installation a turnkey contract turnkey vendors.
What is a turnkey fee?
Turnkey cost (sometimes referred to as turnkey pricing) is
the total cost that must be covered before a product or service is ready to be sold and used by consumers
. A turnkey cost may involve a direct cost, such as materials, or an indirect cost, such as administrative expenses and product engineering.
What kind of business can I start with $1000?
- Bicycle Repair Business.
- Event Planning Business.
- Professional Organizer Business.
- Social Media Management Business.
- Pet Care Business.
- Cleaning Business.
What are turnkey projects typically?
Turnkey (or turn-key) project is a term typically used with
reference to construction projects for which the developer undertakes the whole responsibility from design to completion so that the building is available to the buyer in a ready-to-use condition
.
How do I start an existing business?
- Decide what you’re looking for. …
- Research available businesses. …
- Consider working with a business broker. …
- Complete your due diligence. …
- Acquire the necessary funding. …
- Draft the sales agreement.
Why is it called turnkey?
The word is a reference to the fact that
the customer, upon receiving the product, just needs to turn the ignition key to make it operational
, or that the key just needs to be turned over to the customer.
What is a turnkey service provider?
The phrase “turnkey service provider” sounds great – it brings to
mind a provider that’s already ready to work with you and has an understanding of your
industry.
What’s a better way to say one stop shop?
| general store convenience store | trading post general dealer | mom-and-pop store bodega | corner country store |
|---|
What is turnkey design and build?
Turnkey projects offer
project owners the same control as the design-build solution
but with a slight difference. With a turnkey project, the contractor supplies the project management service. Although relinquishing project management may seem like you are handing over control, it is often the best solution. …
