123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Why Is The Turnkey Project Right Business Commencing Strategy

Profile Picture
By Author: Rosario Berry
Total Articles: 317
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Starting an industry from scratch is never an easy strategy. It's even harder for businesses that are working in highly competitive environments as established competitors can easily compete against a new and vulnerable business. In these circumstances, turnkey project could be the right strategy to make a good start from the very beginning of the business operations.

What is a Turnkey Project?

It is essentially a project where a client hires a contractor to not just design and build new industrial or business facilities, but also to train the personnel who will begin working when regular operations will commence. Around the world, businesses that aim to commence commercial operations in highly complex and technical production systems, commonly make use of this strategy. The contractors hired are often experienced producers themselves, usually from a foreign country. Such contractors make an agreement to deliver an entirely finished facility with the necessary skilled operating personnel, able to be fully functional upon the handover of the project to the client. With the handing of the operations or the 'key' ...
... to the client in the agreed terms and period, the project is considered to be finished.

Who benefits from Turnkey Project?

The major beneficiaries are clients who have the intention to establish a complex business operation and can access the required capital, but can't easily have the required access to an experienced management team or the necessary skilled personnel. By adopting turnkey project, the startup business can also get the access to the best practices and technology in the industry from the very early stages, often from some of the most experienced and successful contractors in the industry.

Industry specific applications

While this isn't universally applicable, it could indeed prove to be the only feasible alternative for businesses to commence operations in specific types of industries. Some common industries that commonly make use of turnkey projects include industries that produce car engine, shipbuilding engine, gearbox assembly, automation equipment, granulators, automatic transmission components, automatic transmission washer and engine components.

Is Turnkey strategy feasible?

On the outside, it may appear to be expensive. Yet, the benefits of a good Turnkey Project can easily outweigh its cost by multiple folds. A well-managed turnkey project can instantly start providing a highly productive operation. A massive proportion of past turnkey projects are currently operating as successful businesses, primarily due to the advantages they provided from early on. In fact, judging by the improved productivity of the new venture, this could be immensely beneficial in terms of sustained profitability of a business.

About the Author:

Rosario Berry is a professional freelance writer, like to introduce Perfect Rapid Co. . Turnkey Project is essentially a project where a client hires a contractor to not just design and build new industrial or business facilities, but also to train the personnel who will begin working when regular operations will commence.

More About the Author

Rosario Berry is an eminent author writing and publishing articles on various topics.

Total Views: 403Word Count: 473See All articles From Author

Add Comment

Business Articles

1. Most Expensive Places To Live In Dubai 2025: Top 14 Luxury Areas
Author: luxury Spaces

2. Lucintel Forecasts The Phototherapy Lamp Market In Germany To Reach $1 Billion By 2031
Author: Lucintel LLC

3. Lucintel Forecasts The Percussion Instrument Market In United States To Reach $2 Billion By 2031
Author: Lucintel LLC

4. Lucintel Forecasts The Percussion Instrument Market In Japan To Reach $2 Billion By 2031
Author: Lucintel LLC

5. Gojek Clone App Script – A Complete Guide For Startups & Enterprises
Author: Swiza Joy

6. Lucintel Forecasts The Percussion Instrument Market In Germany To Reach $2 Billion By 2031
Author: Lucintel LLC

7. Web Design In The Age Of Ai: Opportunities And Challenges For Digital Marketers
Author: Vikram kumar

8. Lucintel Forecasts The Lung Cancer Surgery Market In United States To Reach $6 Billion By 2031
Author: Lucintel LLC

9. Salary Loans For Salaried Employees
Author: salarytopup

10. How Performance Testing Services Boost Software Quality
Author: Arnav Goyal

11. Byst: The Power Of Strong Business Mentors For Entrepreneurial Growth
Author: Byst Youth

12. How Iso 27001 Auditor Training Prepares Individuals For Internal Audits
Author: Jane

13. How To Sell My House Fast In Kentucky: A Homeowner's Guide?
Author: Adams Kirsten

14. Attractions And Living: Homes For Sale In Lexington, Ky
Author: Adams Kirsten

15. Trusted Old Coin Buyer: How To Sell Your Old Coins Safely In India
Author: surbhi

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: