What does turnkey restaurant mean?
A turnkey restaurant is one in which the previous restaurant ceased operations, but all of the equipment is still in working condition. With the downturn in the economy, more and more displaced workers are changing careers and going into business for themselves, including opening their own restaurants.
What does turnkey business mean?
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 opportunity?
A “turnkey” business opportunity is a term used to describe a business opportunity that offers entrepreneurs or owners everything they need to start and maintain the business. This normally includes access to the business: model, permits, licences, equipment, branding rights and inventory.
What is a turn-key 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.
Is turnkey business a good idea?
Save greatly on costs. Turnkey businesses are often well-established businesses with a solid customer base. Starting a business from scratch entails a lot of marketing costs and offers to attract new customers. As you can see, turnkey businesses are the best for a variety of reasons.
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.
Are turnkey businesses worth it?
Easy to grow and expand Undoubtedly, turnkey businesses are quite an investment. Nonetheless, you will be getting value for every penny you have invested. So, if you can afford and pay the initial investment, it is easy for your business to expand quickly.
What is a turn key finish?
How does the turnkey route work? Put simply, a turnkey house is a finished home that’s ready for you to move into. To achieve this, you’ll work with an integrated team of design and build experts to develop the concept of what you wish to build, deciding precisely how you’d love to live.
Does turnkey include furniture?
If the home is turnkey furnished, then everything is included from the furniture (couches, tables, chairs, dressers, etc.) to the decorative items (rugs, lamps, art work, etc.) to the household items (dishes, pots and pans, silverware, towels, linens, etc.)
What is a turn key fee?
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.
What is the opposite of turnkey?
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.