What Is a Turnkey Solution?

A turnkey solution is a prebuilt system that can be easily implemented into a current business process. It is immediately ready to use upon implementation.

How Turnkey Solutions Work

With ꦚa turnkey solution, a corporate buyer just has to turn a proverbial key t𒊎o use the product or service.

The system is designed to fulfill a certain process, such as manufacturing (in part or in whole), billing, website desi🧔gn, training, or content management.

A turnkey solution system is different ꧙from a custom-built system, which is designed s𓆉pecifically for the customer. The turnkey solution, in contrast, is typically the more affordable and simpler option.

Other Types of Turnkey Terms

Traditionally, tur🎃nkey, as a term, is commonly applied to construction projects, such as warehouses, other purpose-built buildings, and houses. With a turnkey structure, the building contractor finishes a product that the buyer can utilize immedia♏tely.

A turnkey property is usually a newly renovated and updated apartment, condo, townhouse, or house that is move-in ready for buyers or renters. Real estate companies, propꩵerty sellers and buyers, and real estate investors often🐬 describe new buildings or homes as turnkey ready.

A turnk♎ey business is a business that can be purchased witho♌ut 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.

Pros and Cons of Turnkey Solutions

A turnkey solution may be the most affordable way to make something end-to-end that is beneficial for multiple users. That൩'s the main advantage for customers: price. A turnke⭕y solution, depending on its complexity, may also be easier to use than a custom-built system.

🌃However, turnkey solutions may not take into account the individual needs of a company. A turnkey solution for content management software offered by a third-party company may be cheaper to purchase, but it may not cover all the needs of the purchaser.

Another possible drawback of this method, as opposed to designing a process in-house or purchasing a custom-built system, is that specifications that are important to a particular company may not be sufficiently integrated into the solution. In-house and custom-built solutions can take the full complexity of a specific company's needs into consideration, while a turnkey solution cannot.

Example of a Turnkey Solution

A company looking to implement an online billing feature on its website can use third-party providers to process each 澳洲幸运5官方开奖结果体彩网:transaction and handle all the technical issues surrounding this process. The use of a turnkey solution, in this case, allows the company to avoid t🐈he headaches of programming the tool in-house and the approvals associated with developing a ꦗbilling system from scratch.

The Bottom Line

A turnkey solution is ready꧋ to use when💧 the customer interacts with it for the first time. No modifications are required.

While a turnkey solution comes with its advantages—affordability, for one—it also has its drawbacks. A turnkey solution won't necessarily address every single issue that a company may have, as it wasn't designed with that particular company in mind. If price isn't a factor and you don't mind waiting for a system to be built for your company, specifically, you might consider a custom-built solution. For many, though, a turnkey solution will work just fine.