Crafted entirely for clients, turnkey solutions seamlessly integrate into existing business processes. Once implemented, they’re instantly operational, serving various purposes like manufacturing, billing, website design, training, or content management.
Turnkey solutions differ from custom-built or designed systems. If a company or business doesn’t need a lot of bells and whistles, a turnkey solution may be an affordable and simple option.
Turnkey solutions enable corporate buyers to start doing business right away in a newly constructed building. As economies became more service-based, the “solution” evolved in turnkey concepts.
Unlike designing an internal process or creating a custom-built system, this method’s potential drawback is its potential failure to sufficiently integrate crucial company specifications into the solution. When deciding between in-house, custom-built, and turnkey options, businesses consider the complexity of their processes.
Turnkey is typically applied to construction projects such as warehouses, other purpose-built buildings, or houses. The contractor completes a product that can be readily used by the buyer.
The term ‘turnkey property’ refers to a newly renovated and updated apartment or home that is ready for buyers or renters. Real estate companies, property sellers and buyers, and real estate investors often describe new buildings as “turnkey ready.”
Turnkey businesses are businesses that can be purchased without modifying their business model or products sold. For example, Taco Bell is a type of turnkey business.
Turnkey solutions: pros and cons
A turnkey solution may be the best way to build something end-to-end that benefits multiple users. However, turnkey solutions may not take into account the needs of an individual company.Third-party content management software can be cheaper to purchase, but it may not meet all the buyer’s needs.
An example of a Turnkey solution
An organization seeking to implement online billing on its website can use third-party providers to process each transaction and handle all the technical issues. In this case, a turnkey solution allows the company to avoid the headaches of programming the tool in-house and the approval process associated with developing a billing system from scratch.