NCPA Announces Finalists for 2015 Student Business Plan Competition

Press Release

The National Community Pharmacists Association (NCPA) announced today that 3 teams of pharmacy students have been named finalists in the 2015 Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition.

Teams of pharmacy students from the South Carolina College of Pharmacy, the University of Arkansas for Medical Sciences College of Pharmacy, and the University of Minnesota College of Pharmacy will present their business plans in a live competition October 10, 2015 at NCPA’s Annual Convention in National Harbor, Maryland, just outside of Washington, D.C. This year’s competition drew submissions from 43 schools and colleges of pharmacy and more than 150 student participants.

“We are blown away by the quality and quantity of the student business plan entries once again this year,” said NCPA President John T. Sherrer, RPh, co-owner of Kenmar Pharmacy and Poole's Pharmacy in Marietta, Georgia, and a partner in several other Georgia pharmacies. “Congratulations to the 3 finalist teams and best of luck as they finalize their presentations for the live competition in October. I also want to congratulate all of the students on their impressive and comprehensive business plans.”

Team members and the advisor for the 3 finalist teams will receive complimentary registration, travel, and lodging to NCPA’s 117th Annual Convention and Trade Exposition in the Washington, D.C., area from October 10 to October 14, where they will compete for first, second, and third place in an exciting, live competition. The winners will receive the following awards:

• First Place: $3000 to the NCPA student chapter and $3000 contributed to the school in the dean's name to promote independent pharmacy.
• Second Place: $2000 to the NCPA student chapter and $2000 contributed to the school in the dean's name to promote independent pharmacy.
• Third Place: $1000 to the NCPA student chapter and $1000 contributed to the school in the dean's name to promote independent pharmacy.

The goal of the competition is to motivate pharmacy students to create a business model for buying an existing independent community pharmacy or opening a new pharmacy. Through this competition, NCPA is better able to prepare tomorrow's pharmacy entrepreneurs for a successful future.

The Business Plan Competition is the first national competition of its kind in the pharmacy profession and honors 2 great champions of independent community pharmacy, the late Neil Pruitt Sr. and the late H. Joseph Schutte.

The competition is supported by Good Neighbor Pharmacy, Pharmacists Mutual Companies, and the NCPA Foundation.

The remaining finalists in the top 10, listed alphabetically, are Drake University College of Pharmacy & Health Sciences, Ohio Northern University-Raabe College of Pharmacy, Regis University School of Pharmacy, University of California San Francisco School of Pharmacy, University of Oklahoma College of Pharmacy, University of Texas at Austin College of Pharmacy, and the University of Washington School of Pharmacy.

The submissions were judged by a panel of 58 NCPA members, Good Neighbor Pharmacy Business Coaching consultants, and business team leaders from the Professional Compounding Centers of America.

All participating schools receive a plaque commemorating their participation in the competition. Each year, competing schools receive an engraved plate to add to their plaque, and teams placing in the top 10 receive a special plate acknowledging this distinction.