Heat vegetable oil in a large skillet over medium heat and cook turkey bacon until browned and crisp, about 5 minutes per side. Drain bacon on paper towels; crumble when cool.
Mix cooked bacon with ground turkey, Cheddar cheese, egg, onion, crumbled French bread, Worcestershire sauce, garlic powder, and black pepper; turn the turkey meatloaf mixture into a 9x13-inch baking dish and form into a loaf shape in the middle of the dish.
Mix ketchup, yellow mustard, and brown sugar together in a bowl, stirring to dissolve brown sugar. Spread the mixture over the turkey loaf.
Bake the turkey loaf in the preheated oven until the juices run clear, loaf is no longer pink in the middle, and an instant-read meat thermometer inserted into the thickest part of the loaf reads at least 160 degrees F (70 degrees F), 45 minutes to 1 hour.
