what is a turnkey solution 
a turnkey solution is a type of system built end to end for a customer that can be easily implemented into a current business process it is immediately ready to use upon implementation and is designed to fulfill a certain process such as manufacturing in part or whole billing website design training or content management a turnkey solution system is different than a custom built or designed system when a company or business isn t looking for multiple bells and whistles a turnkey solution may be an affordable and simple option in a turnkey solution a corporate buyer just has to turn a key to commence a business activity in the newly built structure solution evolved in the turnkey concept as economies became more service based a possible drawback of this method as opposed to designing a process in house or a custom built system is that specifications that are important to a particular company may not be sufficiently integrated into the solution in house or custom built versus turnkey decisions take the complexity of a business process into consideration with rapid advances in technology software and hardware turnkey solutions are popular for businesses that desire speed to market other types of turnkey termstraditionally turnkey as a term is commonly applied to construction projects such as warehouses other purpose built buildings or houses the idea is that the building contractor finishes a product that the buyer can utilize immediately a turnkey property is usually a newly renovated and updated apartment building or home that is move in ready for buyers or renters real estate companies property sellers and buyers and real estate investors often describe new buildings or homes as turnkey ready a turnkey business may refer to a business that can be purchased without 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 solutionsa turnkey solution may be the most affordable way to construct something end to end that is beneficial to multiple users 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 example of a turnkey solutiona company looking to implement an online billing feature on its website can use third party providers to process each transaction and handle all the technical issues surrounding this process the use of a turnkey solution in this case allows the company to avoid the headaches of programming the tool in house and the approvals associated with developing a billing system from scratch 