Definition of a “turn key” business

Discussion in 'Business Operations' started by Mueller Landscape Inc, Nov 30, 2006.

  1. Mueller Landscape Inc

    Mueller Landscape Inc LawnSite Senior Member
    Posts: 489

    I am interested in your thoughts of what a real "turn key" business might be.
     
  2. MarcSmith

    MarcSmith LawnSite Fanatic
    Posts: 7,157

    put your money on the table and you get it....customers, equipment, staff, current revenue, current debt, property,
     
  3. Az Gardener

    Az Gardener LawnSite Gold Member
    Posts: 3,899

    I think a turn key business is one that can operate with an absentee owner. If it's "turn key " it should be a money making machine complete with the management to run it. Otherwise you are buying a job.
     
  4. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    It's not a business if it can't run without you...otherwise it is just a job as Dave mentioned.
     
  5. Mueller Landscape Inc

    Mueller Landscape Inc LawnSite Senior Member
    Posts: 489

    Well so far we have 3 posts in agreement that a turn key business operates without the owners present. Why is this? What does it take to achieve this? Does this type of model increase value or decrease value of this business?

    Anyone else?
     
  6. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    Simple. It takes a lot of work and patience. It takes trained, dedicated employees. It takes having the systems in place to just about run themselves all alone. It takes time proven policies, practices, and procedures that everyone is commited to. I could go on, but you get the point...

    Value? Much higher vs...
     

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