What does turnkey mean in business

What does turnkey mean?

ready for immediate use

What does turnkey solution mean in business?

Definition of turnkey solutions : Turnkey solutions are ready-to-go, full package solutions which are easily deployed or implemented in a business .

What is turnkey operation example?

In the case of franchises, a turnkey business often includes a building that has been constructed to the franchise’s specifications. Tim Horton’s and Subway restaurants are examples of turnkey franchise businesses. The other common way to acquire a turnkey business is to buy an established business.

What is turnkey model?

Turnkey is a traditional public sector procurement model for infrastructure facilities. Generally, a private contractor is selected through a bidding process. The private contractor designs and builds a facility for a fixed fee, rate or total cost, which is one of the key criteria in selecting the winning bid.

What is another word for turnkey?

In this page you can discover 8 synonyms , antonyms, idiomatic expressions, and related words for turnkey , like: jailer, warden, warder, free, prison-guard, jailor, gaoler and screw.

What does turnkey price mean?

1. What is Turnkey meant to mean ? When a builder advertises a turnkey home, they mean the price they are advertising includes absolute everything that you and your family need to turn the key and move in once the home is complete.

What is turnkey project management?

The term “ Turnkey ” describes a project in which the service provider or the contractor takes the single point responsibility to complete the project in all aspects and hands over to owner/client in a ready to use state. The project management is a collaborated effort of the contractor and owner.

You might be interested:  How to grow small business

Does turnkey mean furnished?

Typically a property is considered “ turnkey ” when it is move-in ready, i.e. complete with linens, dishes and silverware. While a property is considered furnished when there is furniture included.

What are turnkey projects typically?

Traditionally, turnkey , as a term, is commonly applied to construction projects , such as warehouses, other purpose-built buildings, or houses. The idea is that the building contractor finishes a product that the buyer can utilize immediately.

What is a full turnkey package?

A fixed-price turnkey home takes the stress out of buying a house and land package . Buying a turnkey home literally means that once the building is completed, you can turn the key in the front door and start living there straight away, with no further work required.

What business can I start with $5000?

55 businesses you can start for less than $5,000 ACCOUNTANT. Experience, training or licensing may be needed. BICYCLE REPAIR. In many parts of the country, this business tends to be seasonal, but you can find ways around that. BOAT CLEANING. Experience, training or licensing may be needed. BUSINESS PLAN SERVICE. CHIMNEY SWEEP. CLEANING SERVICE. COMPUTER REPAIR. CONSULTANT.

What is difference between EPC and turnkey?

EPC is a contract comprising Engineering, Procurement and Construction. 3- In turnkey , contractor is responsible to perform construction and commissioning, start-up and take over of the plant to employer, but in EPC , it may be the responsibility of other third person to do commissioning and start-up.

Which of the following is an advantage of turnkey projects?

The advantages of a turnkey project , some of which are misguiding and the opposite ends up happening: Reduces total contract execution time during the process, by having just one process instead of two separate ones. This does not necessarily imply less construction time.