A turn key operation or TLO is when one business purchases all of the necessary equipment to run their business, including software if needed, facilities use, and more. They then take care of everything else – phone systems, mailing supplies, you name it!
TLOs typically offer very low prices because they don’t include anything extra like phones or advertising materials. This can be a good thing for you as an entrepreneur since you won’t have to pay for those things yourself.
But there are some drawbacks to buying a TLO. One is that these companies may not put in enough effort into your business. For example, even though they bought the tools to do business, they might leave it up to you to figure out how to use them.
Another problem is that sometimes TLO owners try to get too many perks by being friendly with employees, family members, etc. - which could cost you money in future marketing opportunities.
A turn-of-screws business is one that does not require you to do anything beyond giving them money and they take care of everything else. This is typically done as an entry level business model for people who have little experience running their own businesses but want to test the waters.
There are many things that can be considered a turn-of-screws business, such as buying a house and then renting it out or investing in digital marketing services that pay per click or paid advertising.
The difference between these types of businesses and a turn-of-screws business is that under our umbrella term ‘turnkey’ there is no need to physically run the business yourself.
This can either be because you hire professionals to handle this for you (like paying someone to market your company) or because you online sell your products which eliminate the need to get up and go shopping.
A turnkey operation is one that does not require you to do anything beyond giving it money or supplies to run full-scale business operations. These are typically marketed as all-in-one services where everything is already done for you, including finding your customers, marketing, hosting, and even creating an online store!
The term “turn key” comes from construction sites, where builders will give their clients a house along with all the furniture and other items needed to live in it. It helps motivate sellers because they don’t have to invest more time than necessary into starting up their own business!
There are many types of turnkey businesses, but the two most common ones are web design and website hosting. A site without pictures or content isn’t very interesting, so buying a pre-designed theme and installing it yourself is a start at least!
Website hosting is another important part of running a website, and there are lots of companies that offer this service to individuals and businesses alike. Some only host individual websites, while others can handle any size project you may have.
After buying or developing a property, what next? Most new landlords don’t market their properties unless they have done it before!
Marketing is one of the most integral parts of running a rental business and can be tricky to do correctly if you are not used to it.
It takes time, effort and money so why would anyone else but us handle that part for you? As a landlord, you should be putting in at least some efforts into marketing your rentals.
Landlords with turnkey operations take all the legwork out of starting a business. They make it easy for you to run your own rental by doing some things for you.
A turnkey operation or launch party is when one business provides all of the equipment, supplies, and logistics needed to start your business. They handle everything else, including marketing, finding new customers for you, and supporting you as you grow.
A turnkey service typically costs around $5,000-10,000 (depending on how many people they have helping you). This cost includes providing you with quality materials and education, paying off debts you have already run out of money to pay, and keeping up with monthly bills such as electricity and internet services.
They also help market you by spreading your message and filling you in on what resources are available to you. Getting more exposure is their main goal, so they’re always looking into ways to do that.
Some companies will even pay to send your customer an email telling them about your business! This is very expensive if you have to buy mailing lists or you can hire someone to do it for you.
A turnkey service provider is not necessarily the best option for every business. While they are great to use as vendors, there are some drawbacks to using them as your marketing team.
As you can see from the example above, even though these services seem like a good idea at first, their price grows very quickly. The more people that access your account through their app, the higher the bill will be!
This could easily cost you hundreds or thousands of dollars in monthly fees depending on how many users you have. It is important to do research before paying such expensive bills each month!
Another drawback is that none of the staff members working under you get trained along with you. This means that it may take longer to develop strong relationships than expected. You would also need to manage their accounts independently which can become time consuming.
We recommend doing an audit of your current advertising methods and determining what works best for you. Then, compare those products against what turnkey services offer to determine which one fits you best.
A turn-key operation or total package sale is when the seller includes everything you need to start your business, including money to begin investing in your new venture!
The sellers may also include additional items such as a notebook full of tips for running your business, stock up supplies, professional looking business cards, and more.
These are great ways to get started with no overhead costs. Many companies that offer turn key services have an initial investment or membership fee, but then it’s all paid for ever after. It helps to tide you over while you're getting your feet wet and supporting your growth.
A franchise opportunity is like buying a restaurant that has already been built, run, and marketed by someone else. You earn credit for the hard work of the previous owners by purchasing this business “as-is” and rebranding it to fit your company name and brand identity.
This is called a turnkey operation because you do not have to make changes or add features to what is already there. You get to take all of the food and marketing power that has been created before you and enhance it with your own touches.
It is very common for entrepreneurs who start their businesses from zero to also buy a pre-existing franchise. They may want more exposure or need additional resources or customer service training, so they choose to purchase a nearby competitor's location instead of starting from scratch.
Either way, investing in a existing business model can be a smart move if you are looking to grow quickly.
A turn-key operation is not like buying a ready to go restaurant that you have to take down parts of and reassemble in your own style, then make changes to fit your budget. Rather, it’s coming together of all of the pieces of a business already run under the owner’s name with little to no effort needed on his or her part beyond taking over.
A turn-key operation comes fully equipped with everything necessary to start earning profits right away. This includes equipment, inventory, supplies, customer base, etc.
The only things needful are enough money to buy out the current owners and close up any additional financing (depending on what kind of investment being made). Beyond that, the new entrepreneur has an incredible amount of resources available to help them succeed at their goal!
These types of operations set themselves apart from others because they don’t require very much time or energy to get started. They also offer more stability than starting your own business because you don’t face the risk of running into financial troubles or losing motivation when the going gets tough.
There is always one person who takes ownership of the company, so if someone were to walk off or lose interest, there is still a chance to keep moving forward.