Common usage. Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services.

How do you use turnkey in a sentence?

Turnkey sentence example

1. I visited the condemned malefactors in Newgate, and was locked in by the turnkey , not with them, but in the yard. ...
2. They pride themselves in their ability to implement and project manage turnkey Control Systems utilizing the latest in PLC & SCADA technologies.

What does it mean when something is turnkey?

: 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.

Is turnkey the same as design and build?

Engineering, procurement, and construction (EPC) contracts, sometimes called turnkey contracts are similar to design and build contracts, in that there is a single contract for the design and construction of the project, but generally with an EPC contract, the client has less say over the design of the project and the ...

What is the advantage of turnkey projects?

Designing and executing are completely into the hands of the contractor. This helps in producing a better quality of work. Turnkey projects deliver the cost savings to the customers because customers are responsible for the huge amount agreed upon during contract negotiations.

What is TURNKEY? What does TURNKEY mean? TURNKEY meaning, definition & explanation

36 related questions found

What is the disadvantage of turnkey?

The first disadvantage of the turnkey project is that in case if the project exceeds the budget, the Construction Company has to cover the overages. However, this lessens the burden from the buyer's shoulders and encourages construction companies to stick to a plan and a schedule.

Is turnkey a good idea?

Turn key homes are popular for home buyers and investors who have no time, ability or interest in setting up the home themselves. If you're looking for an easy source of passive income, turn key homes can be a great opportunity to earn returns without much effort.

What is turnkey project example?

Example: Many government-owned public housing projects are turnkey projects. A private developer undertakes all activities necessary to producing the project, including land purchases, permits, plans, and construction, and sells the project to the housing authority.

What is the opposite of turnkey project?

Key Takeaways

Turnkey is a word that can be used to describe a solution, a business, or a property. A turnkey solution is the opposite of a custom-built solution.

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.

Does turnkey include appliances?

What is a turnkey property? Turn-key is a term used by listing agents in marketing remarks to indicate that the home is move-in ready. This means that all appliances are in working condition and there are no obvious structural or electrical issues with the home.

What's 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, multi-utility, bespoke and free.

What did a turnkey do?

A turnkey, a turnkey project, or a turnkey operation (also spelled turn-key) is a type of project that is constructed so that it can be sold to any buyer as a completed product. ... 'Turnkey' is treated as merely signifying the design responsibility as the contractor's.

How do you use turnkey?

Renovated to exacting standards and in turnkey condition, Millridge offers comfortable living in beautiful surroundings. A turnkey package would be offered in return for a down payment and a share of the profits. Wizard's premiere product, the CMC, is a complete turnkey system for computerized mat cutting.

What does turnkey mean in business?

Key Takeaways

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 home?

A turnkey property is a move-in ready home that doesn't require any major repairs or improvements before it is livable. ... Occasionally, real estate listings will use the term turnkey to entice buyers, even when the place isn't properly refurbished.

What are turnkey projects advantages and disadvantages?

Reduced cost overruns. Turnkey projects also deliver cost savings to you because you are only responsible for the lump sum agreed upon during contract negotiations. Any increases in costs, such as rises in the prices of materials, are covered by the contractor.

What is the difference between Turnkey and EPC?

EPC is a contract comprising Engineering, Procurement and Construction. Turnkey is a contract comprising Engineering, Procurement and Construction.

Is turnkey projects helpful for the economy?

Advantages of Turnkey Projects

Turnkey projects are a way of earning great economic returns from the know-how required to assemble and run a technologically complex process.

What companies use turnkey projects?

Turnkey (103 companies found)

• Pipp Mobile Storage Systems, Inc. Space Saving Mobile Storage Systems. ...
• RCS Innovations. Retail and Commercial Fixtures & Interior Design. ...
• Little. Results Beyond Architecture.

Is turnkey profitable?

Turnkey properties require very little time and effort to rent out. ... You get a steady stream of income from the rent that helps to pay off the costs and return a profit. However, buying any type of property and specifically a property you plan to rent to others will come with risks.

What is turnkey real estate investing?

What is turnkey real estate investing? Turnkey real estate investing is a loosely defined investment strategy in which the investor buys, rehabs, and has a property managed through a third-party, usually from a long distance away.

Does turnkey mean furniture is included?

Turnkey property does not typically mean furnished, but some turnkey properties might be furnished. It typically says in the property description whether it is furnished or not. If you are touring a turnkey property and fall in love with the furnishings and the property, however, talk to your real estate agent.

What is design/build turnkey?

For turnkey projects, a proposal is prepared according to the client's specifications, and includes complete construction and delivery, releasing the owner of the interactions during the process.