What Does 'Turnkey' Mean?

A reader question this time. What does 'a turnkey business' mean?

The term 'turnkey' describes a business that is set up and ready to go. Turn the key, and off it goes.

You often find the term in business classifieds where it's used to suggest that the new owner can just step in and start running the business.

Unfortunately, some marketers use the term to suggest a business is fully automated - that there is no work involved.

There is always work involved. If the business really is turnkey, then you can begin work right away because it has already been set to go.

If you want an automated business you will have to do the work to make it automated.

Some say that nobody is going to give you an automated, turnkey business that makes money - they had to do the work, so why would they share it?

The exception is that people today are coming onto the Internet in droves, looking for a quick way to start earning money. Offline, business figures are difficult to verify, and 'turnkey' is often an illusory thing hidden by the need to employ living breathing people.

Online, figures are easily checked, and software and systems can automate a great deal.

Do your homework, but a 'turnkey' web business mighrt save you years.