Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the customer, upon receiving the product, just needs to turn the ignition key to make it operational, or that the key just needs to be turned over to the customer.

Turnkey is often used to describe a home built on the developer’s land with the developer’s financing ready for the customer to move in. If a contractor builds a “turnkey home” they frame the structure and finish the interior. Everything is completed down to the cabinets and carpet. “Turnkey” is commonly used in the construction industry, for instance, in which it refers to the bundling of materials and labour by Home Builder or General Contractor to move into the home without owner involvement.

‘Turnkey’ is also commonly used in motorsports to describe a car being sold with drivetrain to contrast with a vehicle sold without one so that other components may be re-used.

Similarly, this term may be used to advertise the sale of an established business, including all the equipment necessary to run it, or by a business-to-business supplier providing complete packages for business start-up.