A turnkey or turnkey project is a project that is sold to the buyer upon completion. Such projects are ready to use and the buyer can have full control over the functionality of the project at the time it is completed. The term turnkey basically refers to a house that has just been built and is ready to be used immediately by the client. The turnkey project is a project based on a contract under which a company agrees to fully design, build and equip the business or home and sell the project to the buyer in full operation.

Such contracts and projects provide their clients with ready-to-use, fully developed and tested businesses or homes. This is the factor that is highly appreciated by the client that when he buys the project it is fully functional and there is no need for any kind of struggle on the part of the client. Because these projects are painstaking and comprehensive, they require linkages and resources that a company sometimes can’t afford. Therefore, companies often hire an outside contractor or partner to distribute the workload in order to maintain business integrity and continue normal work while running the project in parallel. The turnkey project contractor requires and subcontractors for several different things to ensure the functionality of the projects overall. Therefore, a senior consultant or supervisor is usually assigned to maintain and monitor the work and procedures of subcontractors.

Turnkey projects are generally successful at a fast pace as the turnaround on such projects is fast and there are minimal delays on these projects. Once completed, these projects can be sold as off-the-shelf projects to customers at high profits. The advantages of such projects are twofold; one that these projects are good for business and two that customers can get their hands on established, turnkey businesses. An example of a turnkey project is the turnkey housing project. In this type of projects, companies build homes from the framing of the structure to the finishing of the interior. Some of the projects go as far as furnishing and providing equipment to cabinetry and carpeting. These types of projects are beneficial for the company as they generate profit and are also good for clients who get furnished houses ready to move in.

There are numerous different companies that can run these types of projects often. These companies guarantee excellent facilities. Often, turnkey projects, such as turnkey homes, have many different add-on facilities, such as a community with services such as a gym, market, and other public services. A company that has a good reputation and a name in the market is the best one to go for and the ideal one to invest in.