Turnkey Facts for Kids

For other uses, see Turnkey (disambiguation).

A turnkey project is like getting something that's totally finished and ready to use right away. Imagine buying a new toy that's already put together and has batteries in it – you just turn it on and play! That's what "turnkey" means.

It's different from "build to order," where you tell someone exactly how you want something made, and they build it just for you. With a turnkey project, the seller builds the whole thing, and it's ready for anyone to buy and use.

For example, a company might build a factory that's completely set up and working. They then sell it to another company, who can start using it immediately. The company buying it doesn't have to do any extra building or setting up.

A "turnkey contract" is a special agreement. In this type of contract, one company (the contractor) agrees to plan, design, and build a whole project. This could be a building, a road, or a computer system. The contractor makes sure everything is working and ready to use by a certain date and for an agreed price. Sometimes, the buyer gives the main ideas for the design, and the contractor follows those plans.

A "turnkey computer system" is a complete computer. It comes with all the parts, like the hardware (the physical computer), the operating system (like Windows or macOS), and all the programs you need. It's designed to do a specific job, like editing videos or running a business.

What Does Turnkey Mean?
- Turnkey in Building Homes
- Turnkey in Other Areas
Specific Turnkey Uses
See also

What Does Turnkey Mean?

The word "turnkey" means something is ready for you to use right away. It's like getting the keys to a new car and just needing to turn the ignition key to drive it. Or, it's like someone just hands you the key, and everything is ready.

Turnkey in Building Homes

In building, "turnkey" means a home builder or contractor handles everything. They put together all the materials and do all the work to finish the house. The person buying the house doesn't need to be involved in the building process.

A "turnkey home" is often built on land owned by the builder. The builder might even help with the financing. When it's done, the house is completely finished, from the walls to the carpets and kitchen cabinets. It's ready for the customer to move in.

Turnkey in Other Areas

Cars: In racing, a "turnkey car" is sold with everything it needs to run, like the engine and transmission. This is different from a car sold without these parts, where the buyer would add their own.
Businesses: When a business is sold as "turnkey," it means you're buying the whole operation. This includes all the equipment and everything else needed to run the business right away.
Manufacturing: A "turnkey manufacturing contractor" helps with every step of making a product. This includes the first designs, making the parts, checking quality, and even packaging and delivery. This can save time and money because you work with just one company.

Specific Turnkey Uses

The idea of "turnkey" is used in many different areas.

Turnkey in Technology

In the technology world, "turnkey" often describes computer packages. These are bundles of everything you need to do a specific task. For example, a "turnkey audio editing system" might include a computer, special software, and all the necessary sound equipment. These are sometimes called "appliances" because they are ready to use for one main purpose. A website that is already set up with ready-made solutions is called a "turnkey website."

Turnkey in Real Estate

In real estate, a "turnkey home" or property is ready for someone to live in or use for its purpose. It means the place is fully working and doesn't need any repairs or upgrades. You can just move in.

For businesses, a "turnkey building" might come with all the tools and machines needed for a specific job. For example, a car repair shop might be sold as turnkey if it includes all the equipment for fixing cars.

"Turnkey real estate" can also be a type of investment. This is when someone buys a property, builds or fixes it up, finds tenants to rent it, and then sells it to another buyer. The new buyer gets a property that is already making money from rent.

Turnkey in Drilling

In drilling for oil, "turnkey" means a contractor has to finish a well up to a certain point before they get paid. They might get more money when it's done, but they have to complete the work first.

Turnkey facts for kids

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